The Property Rental Store Limited - Accounts to registrar (filleted)

THE PROPERTY RENTAL STORE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTORS:

N McCartie

S McCartie

SECRETARY:

S McCartie

REGISTERED OFFICE:

First Floor, Woburn Court

2 Railton Road

Woburn Road Industrial Estate, Kempston

Bedford

Bedfordshire

MK42 7PN

REGISTERED NUMBER:

06205009 (England and Wales)

ACCOUNTANTS:

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Tangible assets

4

65,400

77,600

Investment property

5

1,650,000

1,715,400

1,727,600

CURRENT ASSETS

Debtors

6

1,191

1,183

Cash at bank

2,675

180

3,866

1,363

CREDITORS

Amounts falling due within one year

7

566,454

580,795

NET CURRENT LIABILITIES

(562,588

)

(579,432

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,152,812

1,148,168

PROVISIONS FOR LIABILITIES

92,976

91,310

NET ASSETS

1,059,836

1,056,858

CAPITAL AND RESERVES

Called up share capital

1,002

Share premium

469,000

Non-distributable reserves

378,881

Retained earnings

210,953

207,975

SHAREHOLDERS' FUNDS

1,059,836

1,056,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th September 2025 and were signed on its behalf by:

N McCartie - Director

1.	STATUTORY INFORMATION

The Property Rental Store Limited 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 as modified by the revaluation of certain assets.

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents rents receivable from tenants of investment properties, stated net of 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.

Motor vehicles

-

25% on reducing balance

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. No formal valuation has taken place during the year by a professional independent valuer.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1st January 2024

77,600

Additions

43,200

Disposals

(40,800

)

At 31st December 2024

80,000

DEPRECIATION

Charge for year

14,600

At 31st December 2024

14,600

NET BOOK VALUE

At 31st December 2024

65,400

At 31st December 2023

77,600

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

and 31st December 2024

1,650,000

NET BOOK VALUE

At 31st December 2024

1,650,000

At 31st December 2023

1,650,000

Fair value at 31st December 2024 is represented by:

£

Valuation in 2023

470,191

Cost

1,179,809

1,650,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

Prepayments

1,191

1,183

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

Corporation tax

2,799

5,697

Directors' current accounts

558,480

572,199

Accruals and deferred income

5,175

2,899

566,454

580,795

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Property Rental Store Limited for the year ended 31st December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Property Rental Store Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Property Rental Store Limited and state those matters that we have agreed to state to the Board of Directors of The Property Rental Store Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Property Rental Store Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Property Rental Store 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 The Property Rental Store Limited. You consider that The Property Rental Store Limited 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 The Property Rental Store 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.

HW Bedford Limited

Trading as Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

18th September 2025