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Company registration number: 10017847
PAL Rental Ltd
Unaudited filleted financial statements
for the year ended
28 February 2025
PAL Rental Ltd
Contents
Directors and other information
Accountants report
Statement of financial position and notes to the financial statements
PAL Rental Ltd
Directors and other information
Directors Mr J O Langmead
Mr T G Langmead
Company number 10017847
Registered office Office 8 The Barns
Caddsdown Industrial Park
Bideford
Devon
EX39 3BT
Business address Crossmoor Business Park
Stibb Cross
Devon
EX38 8LJ
Accountants Giffords LLP
Office 8 The Barns
Caddsdown Industrial Park
Bideford
Devon
EX39 3BT
PAL Rental Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of PAL Rental Ltd
Year ended 28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PAL Rental Ltd for the year ended 28 February 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of PAL Rental Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of PAL Rental Ltd and state those matters that we have agreed to state to the board of directors of PAL Rental Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PAL Rental Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that PAL Rental Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PAL Rental Ltd. You consider that PAL Rental Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of PAL Rental Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Giffords LLP
Chartered Accountants
Office 8 The Barns
Caddsdown Industrial Park
Bideford
Devon
EX39 3BT
Date: 19 August 2025
PAL Rental Ltd
Statement of financial position
28 February 2025
2025 2024
£ £
Fixed assets 580,096 585,824
________ ________
Current assets 143,984 28,182
Creditors: amounts falling due within one year ( 586,599) ( 599,616)
________ ________
Net current liabilities ( 442,615) ( 571,434)
________ ________
Total assets less current liabilities 137,481 14,390
Creditors: amounts falling due after more than one year ( 165,941) ( 179,856)
Accruals and deferred income ( 4,500) ( 4,500)
________ ________
Net liabilities ( 32,960) ( 169,966)
________ ________
Capital and reserves ( 32,960) ( 169,966)
________ ________
Notes to the financial statements
PAL Rental Ltd
Year ended 28 February 2025
1. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).
2. Transition to FRS 105
These are the first financial statements that comply with FRS 105. The company transitioned to FRS 105 on 1 March 2023.
Reconciliation of equity
At 1 March 2023 At 29 February 2024
Previously stated Effect of transition FRS 105 (restated) Previously stated Effect of transition FRS 105 (restated)
£ £ £ £ £ £
Fixed assets 592,022 - 592,022 585,824 - 585,824
Current assets 199,367 - 199,367 28,182 - 28,182
Creditors amounts falling due within 1 year ( 580,614) - ( 580,614) (604,116) - (604,116)
________ ________ ________ ________ ________ ________
Net current liabilities ( 381,247) - ( 381,247) (575,934) - (575,934)
________ ________ ________ ________ ________ ________
Total assets less current liabilities 210,775 - 210,775 9,890 - 9,890
Creditors amounts falling due after more than 1 year ( 162,215) - ( 162,215) ( 179,856) - ( 179,856)
Provisions for liabilities ( 39,321) 39,321 - - - -
________ ________ ________ ________ ________ ________
Net assets/(liabilities) 9,239 39,321 48,560 ( 169,966) - ( 169,966)
________ ________ ________ ________ ________ ________
Captial and reserves 9,239 39,321 48,560 ( 169,966) - ( 169,966)
________ ________ ________ ________ ________ ________
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsiblities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 25 July 2025 , and are signed on behalf of the board by:
Mr J O Langmead Mr T G Langmead
Director Director
Company registration number: 10017847
The company is a private company limited by shares, registered in England & Wales.