REGISTERED NUMBER: 12912093 (England and Wales)

Flexi Rentals Limited

Unaudited Financial Statements for the Year Ended 30 September 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

W A Baber

REGISTERED OFFICE:

1 High Street

Sheerness

Kent

ME12 1NY

BUSINESS ADDRESS:

Liberty House

Isle of Grain

Rochester

Kent

ME3 0EP

REGISTERED NUMBER:

12912093 (England and Wales)

ACCOUNTANTS:

Foreman Waller

Chartered Accountants

1 High Street

Sheerness

Kent

ME12 1NY

FIXED ASSETS

Tangible assets

4

611,061

725,452

CURRENT ASSETS

Debtors

5

30,471

77,384

Cash at bank

2,468

5,101

32,939

82,485

CREDITORS

Amounts falling due within one year

6

296,937

332,762

NET CURRENT LIABILITIES

(263,998

)

(250,277

)

TOTAL ASSETS LESS CURRENT LIABILITIES

347,063

475,175

CREDITORS

Amounts falling due after more than one year

7

(227,290

)

(278,305

)

PROVISIONS FOR LIABILITIES

(37,210

)

(55,724

)

NET ASSETS

82,563

141,146

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

82,562

141,145

82,563

141,146

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

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

The director acknowledges his 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2025 and were signed by:

W A Baber - Director

1.	STATUTORY INFORMATION

Flexi Rentals 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements - going concern

When preparing the financial statements, the director has assessed whether there are significant doubts about the company's ability to continue as a going concern, particularly as there are net current liabilities. There are no material uncertainties of which the director is aware in making his assessment.

Creditors falling due within one year include £212,182 owed for various hire purchase contracts. Repayments are due to be made monthly and the director expects income to continue to be received from the use of such assets on a monthly basis. Therefore, the director considers that the company has sufficient cash reserves to enable it to meet its obligations as they fall due for a period of at least 12 months from the date of signing of these financial statements. As such, the director is satisfied that the company has adequate resources to continue to operate for the foreseeable future and he continues to adopt the going concern basis for preparing these financial statements.

Income recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in the income statement.

Taxation

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

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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 by the year end.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2023

1,126,246

Additions

253,353

Disposals

(201,660

)

At 30 September 2024

1,177,939

DEPRECIATION

At 1 October 2023

400,794

Charge for year

269,327

Eliminated on disposal

(103,243

)

At 30 September 2024

566,878

NET BOOK VALUE

At 30 September 2024

611,061

At 30 September 2023

725,452

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2023

1,088,246

Additions

235,407

Disposals

(158,410

)

Transfer to ownership

(311,150

)

At 30 September 2024

854,093

DEPRECIATION

At 1 October 2023

376,877

Charge for year

192,851

Eliminated on disposal

(81,201

)

Transfer to ownership

(166,588

)

At 30 September 2024

321,939

NET BOOK VALUE

At 30 September 2024

532,154

At 30 September 2023

711,369

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

-

2,181

Other debtors

23,390

68,499

23,390

70,680

Amounts falling due after more than one year:

Other debtors

7,081

6,704

Aggregate amounts

30,471

77,384

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

212,182

288,755

Trade creditors

41,792

17,584

Taxation and social security

16,063

7,024

Other creditors

26,900

19,399

296,937

332,762

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

227,290

278,305

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

439,472

567,060

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

£

W A Baber

Balance outstanding at start of year

49,082

19,864

Amounts advanced

-

29,218

Amounts repaid

(28,101

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

20,980

49,082