ACCOUNTS - Final Accounts preparation

Registered number: 15744792

MOTOR RENTALS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2025

MOTOR RENTALS LIMITED

REGISTERED NUMBER: 15744792

BALANCE SHEET

AS AT 31 MAY 2025

		2025
Note		£

Fixed assets
Intangible assets	4		2,271
Tangible assets	5		12,190
			14,461
Current assets
Debtors: amounts falling due within one year	6	20,678
Cash at bank and in hand	7	5,334
		26,012
Creditors: amounts falling due within one year	8	(80,916)
Net current (liabilities)/assets			(54,904)
Total assets less current liabilities			(40,443)
Creditors: amounts falling due after more than one year	9		(6,253)

Net (liabilities)/assets			(46,696)

Capital and reserves
Called up share capital			1
Profit and loss account			(46,697)
			(46,696)

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MOTOR RENTALS LIMITED

REGISTERED NUMBER: 15744792

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 June 2026.

J A Pierce

Director

The notes on pages 3 to 8 form part of these financial statements.

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MOTOR RENTALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2025

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

1.2

Going concern

The company had net current liabilities at 31 May 2025 of £70,223 and net liabilities of £62,015. However, the director is of the opinion that the company has and will continue to have the support of its creditors for the foreseeable future.

In the light of these factors, the director considers it appropriate to adopt the going concern basis in
the preparation of these financial statements.

1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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MOTOR RENTALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2025

1.Accounting policies (continued)

1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

1.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

1.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

1.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

				Motor vehicles	-	25%	Reducing balance
				Office equipment	-	33%	Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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MOTOR RENTALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2025

1.Accounting policies (continued)

1.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	General information

Motor Rentals Limited is a private limited company incorporated on 27th May 2024 in England and Wales. The Registered Office is 17 Kelvedon Road, Wickham Bishops, Witham, Essex CM8 3NA.

Employees

The average monthly number of employees, including directors, during the period was 1.

4.	Intangible assets

		Website
		£
	Cost
	Additions	2,500
	At 31 May 2025	2,500
	Amortisation
	Charge for the period on owned assets	229
	At 31 May 2025	229
	Net book value
	At 31 May 2025	2,271

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MOTOR RENTALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2025

5.	Tangible fixed assets

	Motor vehicles	Office equipment	Total
	£	£	£
Cost or valuation
Additions	12,745	333	13,078
At 31 May 2025	12,745	333	13,078
Depreciation
Charge for the period on owned assets	797	91	888
At 31 May 2025	797	91	888
Net book value
At 31 May 2025	11,948	242	12,190

Debtors

					2025
					£


	Trade debtors	1,791
	Other debtors	2,863
	Prepayments and accrued income	705
	Deferred taxation	15,319
		20,678

7.	Cash and cash equivalents
		2025
		£

	Cash at bank and in hand	5,334
		5,334

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MOTOR RENTALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2025

8.	Creditors: Amounts falling due within one year
		2025
		£

	Loans	7,504
	Trade creditors	890
	Loan to connected company	25,000
	Other creditors	42,833
	Accruals and deferred income	4,689
		80,916

9.	Creditors: Amounts falling due after more than one year
		2025
		£

	Loans	6,253
		6,253

10.	Loans
	Analysis of the maturity of loans is given below:
		2025
		£

	Amounts falling due within one year
	Bank loans	7,504
		7,504
	Amounts falling due 1-2 years
	Bank loans	6,253
		6,253


		13,757

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MOTOR RENTALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2025

11.	Commitments under operating leases
	At 31 May 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		2025
		£

	Not later than 1 year	45,089
	Later than 1 year and not later than 5 years	158,019
		203,108

12.

Related party transactions

During the period the company received a loan amounting to £15,000 from a family member and is repayable over two years. Interest was charged at 3% and amounted to £82.60.

During the period the company received a loan from Store It Maldon Limited, a company under common control. The loan amounted to £25,000.

During the period the company was owed £1,554 from JP's Kitchen Limited, a company under common control.

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