Company Registration No. 02807683 (England and Wales)
AUTOMATIC RENTALS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
AUTOMATIC RENTALS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
AUTOMATIC RENTALS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
334,343
315,844
Current assets
Debtors
8,720
17,139
Cash at bank and in hand
609,434
449,267
618,154
466,406
Creditors: amounts falling due within one year
(261,298)
(161,837)
Net current assets
356,856
304,569
Total assets less current liabilities
691,199
620,413
Provisions for liabilities
(53,179)
(39,036)
638,020
581,377
Capital and reserves
Called up share capital
3
55
55
Other reserves
45
45
Profit and loss account
637,920
581,277
Shareholders' funds
638,020
581,377
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 11 July 2016
Mr H G Beckwith
Director
Company Registration No. 02807683
AUTOMATIC RENTALS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents rentals receivable under operating leases and is charged to income on a straight line basis over the lease term.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
20% straight line
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2015
574,657
Additions
125,187
At 30 April 2016
699,844
Depreciation
At 1 May 2015
258,811
Charge for the year
106,690
At 30 April 2016
365,501
Net book value
At 30 April 2016
334,343
At 30 April 2015
315,844
AUTOMATIC RENTALS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
55 Ordinary shares of £1 each
55
55