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REGISTERED NUMBER: 12298970 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Smart Choice Rent Ltd

Smart Choice Rent Ltd (Registered number: 12298970)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smart Choice Rent Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTOR: Svetlana Cikanaviciene





REGISTERED OFFICE: 364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY





REGISTERED NUMBER: 12298970 (England and Wales)





ACCOUNTANTS: Prestons
Chartered Accountants
364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY

Smart Choice Rent Ltd (Registered number: 12298970)

Balance Sheet
30 November 2024

30/11/24 30/11/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,635 2,589

CURRENT ASSETS
Debtors 5 744 4,560
Cash at bank 17,629 13,248
18,373 17,808
CREDITORS
Amounts falling due within one year 6 11,855 6,230
NET CURRENT ASSETS 6,518 11,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,153

14,167

CREDITORS
Amounts falling due after more than one
year

7

26,718

38,376
NET LIABILITIES (16,565 ) (24,209 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (16,665 ) (24,309 )
(16,565 ) (24,209 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Smart Choice Rent Ltd (Registered number: 12298970)

Balance Sheet - continued
30 November 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:





Svetlana Cikanaviciene - Director


Smart Choice Rent Ltd (Registered number: 12298970)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Smart Choice Rent Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net income receivable from sale of goods and services in the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:
Plant and machinery - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Smart Choice Rent Ltd (Registered number: 12298970)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.

Going concern
The total liabilities exceed the total assets of the company as at 30 November 2024. The director has confirmed that the company will have continuous support from the creditors. The director is confident that the company has sufficient resources to trade as a going concern. It is for these reasons the accounts have been prepared as a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Smart Choice Rent Ltd (Registered number: 12298970)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 3,236
Additions 2,116
At 30 November 2024 5,352
DEPRECIATION
At 1 December 2023 647
Charge for year 1,070
At 30 November 2024 1,717
NET BOOK VALUE
At 30 November 2024 3,635
At 30 November 2023 2,589

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/24 30/11/23
£    £   
Other debtors 744 4,560

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/24 30/11/23
£    £   
Bank loans and overdrafts 5,829 4,280
Taxation and social security 2,026 -
Other creditors 4,000 1,950
11,855 6,230

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30/11/24 30/11/23
£    £   
Bank loans 26,718 38,376

Smart Choice Rent Ltd (Registered number: 12298970)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

30/11/24 30/11/23
£    £   
Svetlana Cikanaviciene
Balance outstanding at start of year 3,816 2,203
Amounts advanced - 4,050
Amounts repaid (5,856 ) (2,437 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,040 ) 3,816