Just Vehicle Rental Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08710542 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st July 2019

for

Just Vehicle Rental Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T A Matthews

J Matthews

REGISTERED OFFICE:

Unit 6 Worktown

Northern Road

Newark

Nottinghamshire

NG24 2EU

REGISTERED NUMBER:

08710542 (England and Wales)

ACCOUNTANTS:

D. K. Rumsby & Co Limited

3 Colwick Quays

Colwick

Nottingham

Nottinghamshire

NG4 2JY

FIXED ASSETS

Tangible assets

4

1,147,763

1,157,663

CURRENT ASSETS

Debtors

5

190,375

189,999

Cash at bank and in hand

63,110

142,146

253,485

332,145

CREDITORS

Amounts falling due within one year

6

(584,409

)

(712,596

)

NET CURRENT LIABILITIES

(330,924

)

(380,451

)

TOTAL ASSETS LESS CURRENT LIABILITIES

816,839

777,212

CREDITORS

Amounts falling due after more than one year

7

(513,096

)

(631,165

)

PROVISIONS FOR LIABILITIES

(58,277

)

(28,411

)

NET ASSETS

245,466

117,636

CAPITAL AND RESERVES

Called up share capital

9

98

100

Capital redemption reserve

2

-

Retained earnings

245,366

117,536

SHAREHOLDERS' FUNDS

245,466

117,636

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26th September 2019 and were signed on its behalf by:

T A Matthews - Director

1.	STATUTORY INFORMATION

Just Vehicle Rental Limited is a private company, limited by shares , registered in England and Wales.

The 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has net current liabilities at the balance sheet date, however, the Directors are

confident that with the continued support of the company's creditors the company can continue to

make payments as they fall due. The financial statements do not show the position should this

support be withdrawn.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 20% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st August 2018

1,604,371

Additions

554,002

Disposals

(675,697

)

At 31st July 2019

1,482,676

DEPRECIATION

At 1st August 2018

446,708

Charge for year

97,011

Eliminated on disposal

(208,806

)

At 31st July 2019

334,913

NET BOOK VALUE

At 31st July 2019

1,147,763

At 31st July 2018

1,157,663

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st August 2018

1,572,572

Additions

491,577

Disposals

(649,700

)

Transfer to ownership

(52,605

)

At 31st July 2019

1,361,844

DEPRECIATION

At 1st August 2018

429,540

Charge for year

59,654

Eliminated on disposal

(190,889

)

Transfer to ownership

(7,234

)

At 31st July 2019

291,071

NET BOOK VALUE

At 31st July 2019

1,070,773

At 31st July 2018

1,143,032

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade debtors

155,437

179,070

Other debtors

34,938

10,929

190,375

189,999

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Hire purchase contracts

354,896

496,135

Trade creditors

86,634

32,732

Taxation and social security

43,990

86,925

Other creditors

98,889

96,804

584,409

712,596

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.19

31.7.18

£

£

Hire purchase contracts

513,096

631,165

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.19

31.7.18

£

£

Hire purchase contracts

867,992

1,127,300

Obligations under hire purchase contacts are secured on the assets concerned.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.19

31.7.18

value:

£

£

90

Ordinary

£1

90

90

5

Ordinary B

£1

5

5

3

Ordinary C

£1

3

3

NIL

Ordinary D

£1

-

2

98

100