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Unaudited Financial Statements |
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for the Year Ended 30 September 2020 |
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for |
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RENT2BUYTV LTD |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 September 2020 |
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for |
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RENT2BUYTV LTD |
RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
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Contents of the Financial Statements |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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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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Report of the Accountants | 8 |
RENT2BUYTV LTD |
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Company Information |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Fairway House |
Links Business Park |
St Mellons |
Cardiff |
CF3 OLT |
RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
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Balance Sheet |
30 SEPTEMBER 2020 |
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2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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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 |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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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) |
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Balance Sheet - continued |
30 SEPTEMBER 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
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Notes to the Financial Statements |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Rent2buytv Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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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Tangible fixed assets |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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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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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. |
RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 October 2019 |
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Additions |
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At 30 September 2020 |
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DEPRECIATION |
At 1 October 2019 |
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Charge for year |
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At 30 September 2020 |
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NET BOOK VALUE |
At 30 September 2020 |
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At 30 September 2019 |
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5. | STOCKS |
2020 | 2019 |
£ | £ |
Stocks |
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6. | DEBTORS |
2020 | 2019 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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6. | DEBTORS - continued |
2020 | 2019 |
£ | £ |
Amounts falling due after more than one year: |
Trade debtors |
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Aggregate amounts |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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Intercompany charges | 35,384 | 51,880 |
Directors' current accounts | 481,778 | 436,778 |
Accruals and deferred income |
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The directors loan accounts are interest and repayable on demand. |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Other loans 1-2 years | 18,587 | - |
Hire purchase contracts |
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Accruals and deferred income |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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ordinary | 1 | 102 | 2 |
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100 ordinary shares of 1 each were allotted and fully paid for
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RENT2BUYTV LTD (REGISTERED NUMBER: 07766386) |
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Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 October 2019 |
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Profit for the year |
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At 30 September 2020 |
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11. | ULTIMATE CONTROLLING PARTY |
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Both directors equally control the company. |
RENT2BUYTV LTD |
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Report of the Accountants to the Directors of |
Rent2buytv Ltd |
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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. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2020 set out on pages three to ten and you consider that the company is exempt from an audit. |
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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. |
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Fairway House |
Links Business Park |
St Mellons |
Cardiff |
CF3 OLT |
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