Rent It Or Buy It Ltd - Accounts to registrar (filleted) - small 18.2
Rent It Or Buy It Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2018 |
| FOR |
| RENT IT OR BUY IT LTD |
| RENT IT OR BUY IT LTD (REGISTERED NUMBER: 05922650) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| RENT IT OR BUY IT LTD |
| COMPANY INFORMATION |
| For The Year Ended 31 March 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Leonard House |
| 5 - 7 Newman Road |
| Bromley |
| Kent |
| BR1 1RJ |
| RENT IT OR BUY IT LTD (REGISTERED NUMBER: 05922650) |
| BALANCE SHEET |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| RENT IT OR BUY IT LTD (REGISTERED NUMBER: 05922650) |
| BALANCE SHEET - continued |
| 31 March 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| RENT IT OR BUY IT LTD (REGISTERED NUMBER: 05922650) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Rent It Or Buy It Ltd is a |
| company's registered number and registered office address can be found on the Company Information |
| page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents services rendered at invoiced amounts. |
| Tangible fixed assets |
| Depreciation is provided to write off the cost less estimated residual value of all fixed assets over their |
| useful lives at the following rates: |
| Office Equipment & Furniture - 20% per annum on straight line basis |
| Motor Van - 25% per annum on straight line basis |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
| except to the extent that it relates to items recognised in other comprehensive income or directly in |
| equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet 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 or substantively enacted by the year end and that are |
| expected to apply to the reversal of the timing difference. |
| 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. |
| Going concern |
| The director considers that the use of the going concern basis in preparing the financial statements is |
| fair and appropriate. The director will provide support and resources for the company to settle its |
| liabilities as they fall due in the foreseeable future. |
| RENT IT OR BUY IT LTD (REGISTERED NUMBER: 05922650) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2018 |
| 3. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2017 |
| Reclassification/transfer | ( |
) | ( |
) |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| and 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| Revaluations | 2,561 |
| Reclassification/transfer | 87,439 |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| Fair value at 31 March 2018 is represented by: |
| £ |
| Valuation in 2018 | 90,000 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Other creditors |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| RENT IT OR BUY IT LTD (REGISTERED NUMBER: 05922650) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2018 |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 77,997 | 77,997 |
| 7. | RELATED PARTY DISCLOSURES |
| Included in other creditors are amounts due to directors totalling £42,874 (2017 : £39,251) There are |
| no fixed terms for the repayment of this amount. |
| Also included in other creditors are amounts due to a company under common control of £26,791 |
| (2017 : £26,791). |