RENT IT NOW NW LTD - Filleted accounts

Registered number

12976725

RENT IT NOW NW LTD

Filleted Accounts

30 October 2024

RENT IT NOW NW LTD
Registered number:		12976725
Balance Sheet
as at 30 October 2024

Notes			2024			2023
£				£
Fixed assets
Investment property	3		381,196			50,283

Current assets
Debtors	4	167,333			167,253
Cash at bank and in hand		20,340			2,043
		187,673			169,296

Creditors: amounts falling due within one year	5	(50,605)			(53,789)

Net current assets			137,068			115,507

Total assets less current liabilities			518,264			165,790

Creditors: amounts falling due after more than one year	6		(429,123)			(76,077)



Net assets			89,141			89,713

Capital and reserves
Called up share capital			1			1
Profit and loss account			89,140			89,712

Shareholders' funds			89,141			89,713

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr David Adam Harrison
Director
Approved by the board on 15 October 2025

RENT IT NOW NW LTD
Notes to the Accounts
for the year ended 30 October 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees	2024		2023
Number			Number

	Average number of persons employed by the company	0		0


3	Tangible fixed assets
				Land and buildings
£
	Cost
	At 31 October 2023			50,283
	Additions			330,913
	At 30 October 2024			381,196


4	Debtors	2024		2023
£			£

	Amounts owed by group undertakings and undertakings in which the company has a participating interest	167,283		167,253
	Other debtors	50		-
		167,333		167,253


5	Creditors: amounts falling due within one year	2024		2023
£			£

	Amounts owed to group undertakings and undertakings in which the company has a participating interest	24,233		31,051
	Taxation and social security costs	14,894		21,044
	Other creditors	11,478		1,694
		50,605		53,789


6	Creditors: amounts falling due after one year	2024		2023
£			£

	Bank loans	383,776		30,730
	Other creditors	45,347		45,347
		429,123		76,077


7	Controlling party

	Mr David Adam Harrison is the ultimate controlling party.



8	Other information

	RENT IT NOW NW LTD is a private company limited by shares and incorporated in England. Its registered office is:
	5300 Lakeside
	Cheadle
	England
	SK8 3GP