REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2022 |
for |
RENT2BUYTV LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2022 |
for |
RENT2BUYTV LTD |
RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountants | 8 |
RENT2BUYTV LTD |
Company Information |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Fairway House |
Links Business Park |
St Mellons |
Cardiff |
CF3 OLT |
RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
Balance Sheet |
30 SEPTEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
Balance Sheet - continued |
30 SEPTEMBER 2022 |
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 and authorised for issue on |
RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
1. | STATUTORY INFORMATION |
Rent2buytv Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase income |
Hire purchase contracts are leases where the lessee acquires legal title to the asset at the end of the lease period. The difference between the total minimum lease payments receivable and any attributed residual value and the fair value of the equipment on the lease at inception represents income which is recognised over the period of the lease following the rule of 78. |
Operating lease income |
Lease receipts are recognized in profit or loss over the term of the lease on a straight-line basis, unless another systematic and rational basis more clearly represents the benefit that the lessee is deriving from the underlying asset. Profits cannot be recognized at the beginning of an operating lease, since control of the underlying asset has not been transferred to the lessee |
Impairment of fixed assets |
An assessment is made at each reporting date of whether there are any indications that a fixed asset may be impaired or that an impairment loss previously recognised has fully or partially reversed. If such indications exist, the Company estimates the recoverable amount of th asset. |
Shortfalls between carrying value of fixed assets and their recoverable amounts, being the higher of fair value less costs to sell and value-in-use, are recognised as impairment losses. |
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Reversals of impairment losses are recognised in the profit and loss account. On reversal of an impairment loss, the depreciation is adjusted to allocate the asset's revised carrying amount(less any residual value) over its remaining useful life. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2022 |
DEPRECIATION |
At 1 October 2021 |
Charge for year |
At 30 September 2022 |
NET BOOK VALUE |
At 30 September 2022 |
At 30 September 2021 |
5. | STOCKS |
2022 | 2021 |
£ | £ |
Stocks |
6. | DEBTORS |
2022 | 2021 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Trade debtors |
Aggregate amounts |
RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Intercompany charges | 56,389 | 68,718 |
Directors' current accounts | 383,438 | 500,938 |
Accruals and deferred income |
The directors loan accounts are interest and repayable on demand. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Accruals and deferred income |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
ordinary | .1 | 114 | 114 |
10. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 October 2021 | 349,249 |
Profit for the year |
At 30 September 2022 | 516,809 |
11. | ULTIMATE CONTROLLING PARTY |
Both directors equally control the company. |
RENT2BUYTV LTD |
Report of the Accountants to the Directors of |
Rent2buytv Ltd |
The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2022 set out on pages three to ten and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Fairway House |
Links Business Park |
St Mellons |
Cardiff |
CF3 OLT |