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REGISTERED NUMBER: OC424870 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 30 November 2021

for

Renand Assets LLP

Renand Assets LLP (Registered number: OC424870)

Contents of the Financial Statements
for the Year Ended 30 November 2021










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Renand Assets LLP

General Information
for the Year Ended 30 November 2021







DESIGNATED MEMBERS: G Panayiotou
Mrs M Panayiotou





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: OC424870 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Renand Assets LLP (Registered number: OC424870)

Balance Sheet
30 November 2021

30.11.21 30.11.20
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,048 -
Investment property 5 4,285,000 4,115,000
4,286,048 4,115,000

CURRENT ASSETS
Debtors 6 6,038 1,397
Cash at bank 281,341 87,678
287,379 89,075
CREDITORS
Amounts falling due within one year 7 (3,877 ) (3,877 )
NET CURRENT ASSETS 283,502 85,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,569,550

4,200,198

CREDITORS
Amounts falling due after more than one year 8 (861,842 ) (861,842 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,707,708

3,338,356

Renand Assets LLP (Registered number: OC424870)

Balance Sheet - continued
30 November 2021

30.11.21 30.11.20
Notes £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 3,707,708 3,338,356
3,707,708 3,338,356

TOTAL MEMBERS' INTERESTS
Members' other interests 3,707,708 3,338,356

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 November 2021.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 17 August 2022 and were signed by:





G Panayiotou - Designated member

Renand Assets LLP (Registered number: OC424870)

Notes to the Financial Statements
for the Year Ended 30 November 2021


1. STATUTORY INFORMATION

Renand Assets LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover represents rental income received excluding value added tax and is measured at the fair value.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Income from fixed asset investments is recognised when the right to it has been established.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Renand Assets LLP (Registered number: OC424870)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021


2. ACCOUNTING POLICIES - continued

Investments
Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss.

Impairment of assets
Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors and creditors receivable/payable in one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2020 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,290
At 30 November 2021 1,290
DEPRECIATION
Charge for year 242
At 30 November 2021 242
NET BOOK VALUE
At 30 November 2021 1,048

Renand Assets LLP (Registered number: OC424870)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2020 4,115,000
Revaluations 170,000
At 30 November 2021 4,285,000
NET BOOK VALUE
At 30 November 2021 4,285,000
At 30 November 2020 4,115,000

Fair value at 30 November 2021 is represented by:
£   
Valuation in 2020 4,882
Valuation in 2021 165,118
Cost 4,115,000
4,285,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.21 30.11.20
£    £   
Other debtors 6,038 1,397

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.21 30.11.20
£    £   
Other creditors 3,877 3,877

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.21 30.11.20
£    £   
Bank loans 861,842 861,842

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 861,842 861,842

Renand Assets LLP (Registered number: OC424870)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021


9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.21 30.11.20
£    £   
Bank loans 861,842 861,842