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Company No: 13035371 (England and Wales)

HM RENTALS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

HM RENTALS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

HM RENTALS LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2024
HM RENTALS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2024
Director H R T Mathias
Registered office 4 Highdown Road
Hove
East Sussex
BN3 6EE
United Kingdom
Company number 13035371 (England and Wales)
Accountant Kreston Reeves LLP
Plus X Innovation Hub
Lewes Road
Brighton
East Sussex
BN2 4GL

ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HM RENTALS LIMITED

For the financial year ended 30 November 2024

ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HM RENTALS LIMITED (continued)

For the financial year ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of HM RENTALS LIMITED for the financial year ended 30 November 2024 which comprise the Balance Sheet and the related notes 1 to 8 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 www.icaew.com/regulation.

It is your duty to ensure that HM RENTALS LIMITED 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 HM RENTALS LIMITED. You consider that HM RENTALS LIMITED is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of HM RENTALS LIMITED. 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.

This report is made solely to the Director of HM RENTALS LIMITED, as a body, in accordance with the terms of our engagement letter dated 23 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of HM RENTALS LIMITED and state those matters that we have agreed to state to the director of HM RENTALS LIMITED, 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 HM RENTALS LIMITED and its Director as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

Plus X Innovation Hub
Lewes Road
Brighton
East Sussex
BN2 4GL

28 August 2025

HM RENTALS LIMITED

BALANCE SHEET

As at 30 November 2024
HM RENTALS LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 595,000 595,000
595,000 595,000
Current assets
Debtors 4 662 1,186
Cash at bank and in hand 5,371 1,033
6,033 2,219
Creditors: amounts falling due within one year 5 ( 173,136) ( 173,500)
Net current liabilities (167,103) (171,281)
Total assets less current liabilities 427,897 423,719
Creditors: amounts falling due after more than one year 6 ( 423,850) ( 423,850)
Net assets/(liabilities) 4,047 ( 131)
Capital and reserves
Called-up share capital 100 100
Fair value reserve 6,176 6,176
Profit and loss account ( 2,229 ) ( 6,407 )
Total shareholder's funds/(deficit) 4,047 ( 131)

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of HM RENTALS LIMITED (registered number: 13035371) were approved and authorised for issue by the Director on 28 August 2025. They were signed on its behalf by:

H R T Mathias
Director
HM RENTALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
HM RENTALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The company is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is 4 Highdown Road, Hove, East Sussex, BN3 6EE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 December 2023 595,000
As at 30 November 2024 595,000

Valuation

The 2024 valuations were made by the director, on an open market value for existing use basis.

4. Debtors

2024 2023
£ £
Deferred tax asset 0 77
Corporation tax 662 650
Other debtors 0 459
662 1,186

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 169,600 171,400
Accruals 2,220 2,100
Deferred tax liability 1,316 0
173,136 173,500

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 423,850 423,850

The company's leasehold property was secured by way of a charge with Paragon bank Plc.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans 423,850 423,850

7. Deferred tax

2024 2023
£ £
At the beginning of financial year 77 ( 689)
(Charged)/credited to the Profit and Loss Account ( 1,393) 766
At the end of financial year ( 1,316) 77

The deferred taxation balance is made up as follows:

2024 2023
£ £
Accelerated capital allowances ( 1,697) ( 1,697)
Tax losses carry forward 381 1,774
( 1,316) 77

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
H R T Mathias 169,600 171,400

The director provided the company with an interest free loan repayable on demand.