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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS |
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All of the members of ASC Rentals Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 30 April 2025 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
15691509
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FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS |
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REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF
ASC RENTALS LIMITED |
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PERIOD ENDED 30 APRIL 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of ASC Rentals Limited for the period ended 30 April 2025, which comprise the abridged statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.
LANGARD LIFFORD HALL LIMITED
Accountants and Registered Auditors
Lifford Hall
Lifford Lane
Kings Norton
Birmingham
B30 3JN
25 September 2025
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ABRIDGED STATEMENT OF FINANCIAL POSITION |
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30 April 2025
Fixed assets
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Tangible assets |
4 |
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343,875 |
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|
|
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Current assets
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Cash at bank and in hand |
9,338 |
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|
|
|
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Creditors: amounts falling due within one year |
10,352 |
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------------ |
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Net current liabilities |
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1,014 |
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------------ |
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Total assets less current liabilities |
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342,861 |
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Creditors: amounts falling due after more than one year |
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343,525 |
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------------ |
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Net liabilities |
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(
664) |
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------------ |
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Capital and reserves
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Called up share capital |
|
102 |
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Profit and loss account |
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(
766) |
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------------ |
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Shareholders deficit |
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(
664) |
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------------ |
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These abridged 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 abridged statement of comprehensive income has not been delivered.
For the period ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
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ABRIDGED STATEMENT OF FINANCIAL POSITION (continued) |
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30 April 2025
These abridged financial statements were approved by the
board of directors
and authorised for issue on
25 September 2025
, and are signed on behalf of the board by:
Company registration number:
15691509
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NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
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PERIOD ENDED 30 APRIL 2025
1.
General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lifford Hall, Tunnel Lane, Kings Norton, Birmingham, B30 3JN, England.
2.
Statement of Compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis following assurances from the directors of their continuing financial support.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The Turnover shown in the profit and loss account represents property rental receivable during the year, exclusive of VAT.
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.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Tangible Assets
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£ |
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Cost |
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At 29 April 2024 |
– |
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Additions |
343,875 |
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------------ |
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At 30 April 2025 |
343,875 |
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------------ |
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Depreciation |
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At 29 April 2024 and 30 April 2025 |
– |
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------------ |
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Carrying amount |
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At 30 April 2025 |
343,875 |
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5.
Director's Advances, Credits and Guarantees
Amounts owed to the director(s) at the balance sheet date are included in creditors and totalled £9,552.
6.
Controlling Party
The company shares are jointly owned by
A Carroll
, D Carroll and T Carroll. Amounts owed to the shareholders and shown in creditors at the year end totalled £343,525.