Rentals Direct Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06980659

Rentals Direct Limited

Unaudited financial statements

31 December 2024

Rentals Direct Limited

Statement of financial position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Intangible assets	5	96,548	62,445
Tangible assets	6	12,622,840	7,537,884
		------------	-----------
		12,719,388	7,600,329

Current assets

Stocks		388,294	181,565
Debtors	7	1,311,555	1,032,150
Cash at bank and in hand		121,742	129,569
		-----------	-----------
		1,821,591	1,343,284

Creditors: Amounts falling due within one year	8	( 4,273,815)		( 2,235,048)
		-----------		-----------
Net current liabilities			( 2,452,224)		( 891,764)
			------------		-----------
Total assets less current liabilities			10,267,164		6,708,565

Creditors: Amounts falling due after more than one year	9		( 7,831,955)		( 4,342,659)

Provisions

Taxation including deferred tax	( 852,811)	( 785,562)
	------------	-----------
Net assets	1,582,398	1,580,344
	------------	-----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,582,298	1,580,244
	-----------	-----------
Shareholders funds	1,582,398	1,580,344
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 December 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Rentals Direct Limited

Statement of financial position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

R P Wickham
Director

Company registration number: 06980659

Rentals Direct Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3, Cherry Tree Road, Tibenham, Norfolk, NR16 1PH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill	-	20% straight line
Research & development	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Leasehold improvements	-	7.5% straight line
Motor vehicles	-	22% reducing balance
Office equipment	-	25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of employees during the year was 31 (2023: 16 ).

5. Intangible assets

	Goodwill	Research & development	Total
	£	£	£
Cost
At 1 January 2024	10,000	118,416	128,416
Additions	–	46,103	46,103
	-------	---------	---------
At 31 December 2024	10,000	164,519	174,519
	-------	---------	---------
Amortisation
At 1 January 2024	10,000	55,971	65,971
Charge for the year	–	12,000	12,000
	-------	---------	---------
At 31 December 2024	10,000	67,971	77,971
	-------	---------	---------
Carrying amount
At 31 December 2024	–	96,548	96,548
	-------	---------	---------
At 31 December 2023	–	62,445	62,445
	-------	---------	---------

6. Tangible assets

	Plant and machinery	Leasehold Improve- ments	Motor vehicles	Office equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	49,372	1,271,035	7,884,878	55,522	9,260,807
Additions	16,934	712,132	7,768,822	15,986	8,513,874
Disposals	–	–	( 2,975,308)	–	( 2,975,308)
	-------	-----------	------------	-------	------------
At 31 December 2024	66,306	1,983,167	12,678,392	71,508	14,799,373
	-------	-----------	------------	-------	------------
Depreciation
At 1 January 2024	22,657	328,774	1,342,055	29,437	1,722,923
Charge for the year	9,039	111,206	1,281,628	10,999	1,412,872
Disposals	–	–	( 959,262)	–	( 959,262)
	-------	-----------	------------	-------	------------
At 31 December 2024	31,696	439,980	1,664,421	40,436	2,176,533
	-------	-----------	------------	-------	------------
Carrying amount
At 31 December 2024	34,610	1,543,187	11,013,971	31,072	12,622,840
	-------	-----------	------------	-------	------------
At 31 December 2023	26,715	942,261	6,542,823	26,085	7,537,884
	-------	-----------	------------	-------	------------

7. Debtors

	2024	2023
	£	£
Trade debtors	1,061,395	837,658
Other debtors	250,160	194,492
	-----------	-----------
	1,311,555	1,032,150
	-----------	-----------

8. Creditors: Amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	98,250	105,897
Trade creditors	857,629	272,440
Social security and other taxes	203,107	3,512
Other creditors	3,114,829	1,853,199
	-----------	-----------
	4,273,815	2,235,048
	-----------	-----------

The following liabilities disclosed under creditors falling due within one year are secured by the company:

Bank loans - £98,250 (2023 - £105,897).

Hire purchase agreements - £2,685,662 (2023 - £1,577,637).

9. Creditors: Amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	25,000	123,718
Other creditors	7,806,955	4,218,941
	-----------	-----------
	7,831,955	4,342,659
	-----------	-----------

The following liabilities disclosed under creditors falling due after one year are secured by the company:

Bank loans - £25,000 (2023 - £123,718).

Hire purchase agreements - £7,806,955 (2023 - £4,218,941).