Registration number:
System Rental UK Limited
for the Period from 1 February 2025 to 31 December 2025
System Rental UK Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
System Rental UK Limited
Company Information
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Directors |
L R Bull P B Dickson |
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Registered office |
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Auditors |
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System Rental UK Limited
(Registration number: 02011635)
Balance Sheet as at 31 December 2025
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31 December |
31 January |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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Approved and authorised by the
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System Rental UK Limited
Notes to the Financial Statements for the Period from 1 February 2025 to 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in the United Kingdom.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Disclosure of long or short period
System Rental UK Limited
Notes to the Financial Statements for the Period from 1 February 2025 to 31 December 2025
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
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Revenue recognition
Turnover is recognised at the fair value of consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Rental income is recognised on a straight line basis over the rental period. Turnover also includes the sale of ex-rental stock and rechargeable maintenance.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred in respect of the transaction can be measured reliably.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
System Rental UK Limited
Notes to the Financial Statements for the Period from 1 February 2025 to 31 December 2025
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
15% straight line, with 10% residual value |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
System Rental UK Limited
Notes to the Financial Statements for the Period from 1 February 2025 to 31 December 2025
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Tangible assets |
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Plant and machinery |
Total |
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Cost or valuation |
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At 1 February 2025 |
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Additions |
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Disposals |
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At 31 December 2025 |
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Depreciation |
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At 1 February 2025 |
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Charge for the period |
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Eliminated on disposal |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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At 31 January 2025 |
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Stocks |
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31 December |
31 January |
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Other inventories |
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Debtors |
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Current |
31 December |
31 January |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
System Rental UK Limited
Notes to the Financial Statements for the Period from 1 February 2025 to 31 December 2025
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Note |
31 December |
31 January |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The company has entered into an unlimited Inter-Company Guarantee dated 18 June 2021 (the "Agreement"), which is held as security for the Group bank facilities. Each participating related company (Pakawaste Limited, Pakawaste Engineering Services Limited, System Rental UK Limited and Kelpack Hire Limited) has provided a guarantee to Clydesdale Bank Plc. Under the terms of the Agreement, Clydesdale Bank Plc is authorised to allow set-off for interest purposes and in certain circumstances to seize credit balances and apply them in reduction of liabilities including debit balances within the Composite Accounting Sytem.
The Group bank facilities are also secured by debentures in all of the above participating companies.
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is