Castle Van Hire Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09146584 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

CASTLE VAN HIRE LTD.

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs A K Takhar

REGISTERED OFFICE:

15 Regency Drive

Coventry

West Midlands

CV3 6QA

REGISTERED NUMBER:

09146584 (England and Wales)

FIXED ASSETS

Tangible assets

4

636,508

445,111

CURRENT ASSETS

Cash at bank

43,959

55,094

CREDITORS

Amounts falling due within one year

79,545

52,224

NET CURRENT (LIABILITIES)/ASSETS

(35,586

)

2,870

TOTAL ASSETS LESS CURRENT LIABILITIES

600,922

447,981

CREDITORS

Amounts falling due after more than one year

(40,686

)

(53,376

)

PROVISIONS FOR LIABILITIES

(100,382

)

(58,412

)

NET ASSETS

459,854

336,193

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

459,851

336,190

459,854

336,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 8 September 2020 and were signed by:

Mrs A K Takhar - Director

1.	STATUTORY INFORMATION

Castle Van Hire Ltd. 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.

The business address of the company is London Road, Coventry, CV3 4AA.

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 accounts have been prepared in accordance with applicable accounting standards. The principal accounting

policies adopted in the preparation of the financial statements are set out below and have remained unchanged

from the previous year.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal

course of business. Revenue is recognised in respect of service contracts when the company obtains the right to

consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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 3 (2019 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

773,854

Additions

455,109

Disposals

(92,151

)

At 31 March 2020

1,136,812

DEPRECIATION

At 1 April 2019

328,743

Charge for year

211,934

Eliminated on disposal

(40,373

)

At 31 March 2020

500,304

NET BOOK VALUE

At 31 March 2020

636,508

At 31 March 2019

445,111

5.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

72,587

25,900

6.	CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in

respect of the financial and operating policies of the company.