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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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EASY LET RENTAL AGENTS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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FOR |
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EASY LET RENTAL AGENTS LIMITED |
EASY LET RENTAL AGENTS LIMITED (REGISTERED NUMBER: 04751115) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 9 |
EASY LET RENTAL AGENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants & Business Advisers |
28 Wilton Road |
Bexhill on Sea |
East Sussex |
TN40 1EZ |
EASY LET RENTAL AGENTS LIMITED (REGISTERED NUMBER: 04751115) |
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BALANCE SHEET |
31 MARCH 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
EASY LET RENTAL AGENTS LIMITED (REGISTERED NUMBER: 04751115) |
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BALANCE SHEET - continued |
31 MARCH 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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EASY LET RENTAL AGENTS LIMITED (REGISTERED NUMBER: 04751115) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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Easy Let Rental Agents Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors have made an assessment about the company's ability to continue as a going concern and they do |
not consider there to be any material uncertainties. As a result they have adopted the going concern basis of |
accounting. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Turnover is recognised when the company receives the right to consideration. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2003. In 2016, the useful |
economic life was accessed to be 8 years. |
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Also, the goodwill paid in connection with the acquisition of another business in 2012, has been fully amortised. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or |
directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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EASY LET RENTAL AGENTS LIMITED (REGISTERED NUMBER: 04751115) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
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AMORTISATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2018 |
and 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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EASY LET RENTAL AGENTS LIMITED (REGISTERED NUMBER: 04751115) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Cost or valuation at 31 March 2019 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2011 | 18,786 | - | 18,786 |
Valuation in 2017 | 40,000 | - | 40,000 |
Cost | 116,214 | 29,601 | 145,815 |
175,000 | 29,601 | 204,601 |
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If freehold land and buildings had not been revalued they would have been included at the following historical |
cost: |
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31.3.19 | 31.3.18 |
£ | £ |
Cost | 116,214 | 116,214 |
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Freehold land and buildings were valued on an open market basis on 31 March 2019 by the directors . |
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6. | FIXED ASSET INVESTMENTS |
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31.3.19 | 31.3.18 |
£ | £ |
Shares in group undertakings |
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Other investments not loans |
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Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Investments (neither listed nor unlisted) were as follows: |
31.3.19 | 31.3.18 |
£ | £ |
Easy Let Rental Agents |
(Hastings) LLP | 341,553 | 268,691 |
EASY LET RENTAL AGENTS LIMITED (REGISTERED NUMBER: 04751115) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Directors' current accounts | 97,432 | 169,810 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Social security and other taxes |
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VAT | 23,489 | 25,758 |
Other creditors |
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Deposits and Rents held | 85,264 | 11,004 |
Credit card |
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Accrued expenses |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Bank loans - 1-5 years |
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Bank loans more 5 yr |
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Other loans - 1-2 years | 37,338 | 35,087 |
Other loans - 2-5 years | 63,562 |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr | 16,936 | 17,379 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.19 | 31.3.18 |
£ | £ |
Bank loans |
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There is a legal charge over all monies due or to become due from the company to the chargee on any account |
whatsoever. |
EASY LET RENTAL AGENTS LIMITED (REGISTERED NUMBER: 04751115) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2019 and |
31 March 2018: |
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31.3.19 | 31.3.18 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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A directors loan account exists to which there are terms attached. At the start of the year, the director owed |
£169,810 to the company. During the year £76,311 was advanced to the director and £151,988 was repaid by the |
director during the year. Interest was charged at the official rate on the average balance outstanding. At the year |
end, the director owed £97,432 to the company which was repaid within nine months. Amounts have been |
aggregated where appropriate and there were no material transactions. |
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12. | RELATED PARTY DISCLOSURES |
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The company is a member of Easy Let Rental Agents (Hastings) LLP of which the Director Mr M Cockerill is also a |
member. Both businesses have the same ultimate controlling party. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
EASY LET RENTAL AGENTS LIMITED |
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The following reproduces the text of the report prepared for the director in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only |
required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Director are not required to be filed with the Registrar of |
Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Easy Let Rental Agents Limited for the year ended 31 March 2019 which comprise the Statement |
of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from |
information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of Easy Let Rental Agents Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Easy Let Rental Agents Limited and state those matters that we have agreed to state to the director of Easy Let Rental Agents Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Easy Let Rental Agents Limited and its director for our work or for this report. |
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It is your duty to ensure that Easy Let Rental Agents Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Easy Let Rental Agents Limited. You consider that Easy Let Rental Agents Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Easy Let Rental Agents Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants & Business Advisers |
28 Wilton Road |
Bexhill on Sea |
East Sussex |
TN40 1EZ |
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