RENOVARE HOUSING SERVICES CIC

Company Registration Number:
12383818 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

RENOVARE HOUSING SERVICES CIC

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

RENOVARE HOUSING SERVICES CIC

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023

BRIGHT, David
SILVERSTONE, Claire Ruth
YAZIGI, Samer
MAILICH Dion


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
22 October 2023

And signed on behalf of the board by:
Name: BRIGHT, David
Status: Director

RENOVARE HOUSING SERVICES CIC

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Administrative expenses: ( 4,200 ) ( 148,000 )
Other operating income: 12,061
Operating profit(or loss): 7,861 (148,000)
Profit(or loss) before tax: 7,861 (148,000)
Profit(or loss) for the financial year: 7,861 (148,000)

RENOVARE HOUSING SERVICES CIC

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 0 5,830
Total current assets: 0 5,830
Creditors: amounts falling due within one year: 4 ( 253,252 ) ( 293,687 )
Net current assets (liabilities): (253,252) (287,857)
Total assets less current liabilities: (253,252) ( 287,857)
Total net assets (liabilities): (253,252) (287,857)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (253,352 ) (287,957 )
Total Shareholders' funds: ( 253,252 ) (287,857)

The notes form part of these financial statements

RENOVARE HOUSING SERVICES CIC

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 22 October 2023
and signed on behalf of the board by:

Name: BRIGHT, David
Status: Director

The notes form part of these financial statements

RENOVARE HOUSING SERVICES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover from the sale of goods is recognised when the significant risks and rewards of ownership ofthe goods have transferred to the buyer. Turnover from the rendering of services is recognised byreference to the stage of completion of the contract. The stage of completion of a contract is measuredby comparing the costs incurred for work performed to date to the total estimated contract costs.

    Other accounting policies

    Deferred tax policyDeferred tax is recognised in respect of all timing differences between the recognition of income andexpenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses andother deferred tax assets are recognised only to the extent that it is probable that they will be recoveredagainst the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measuredusing the tax rates and laws that have been enacted or substantively enacted by the reporting date andthat are expected to apply to the reversal of the timing difference, except for revalued land andinvestment property where the tax rate that applies to the sale of the asset is used. Current anddeferred tax assets and liabilities are not discounted.Foreign currency translation and operations policyTransactions in foreign currencies are initially recognised at the rate of exchange ruling at the date ofthe transaction. At the end of each reporting period foreign currency monetary items are translated atthe closing rate of exchange. Non-monetary items that are measured at historical cost are translated atthe rate ruling at the date of the transaction. All differences are charged to profit or loss.Going concernThe financial statements are prepared on the assumption that the entity is a going concern.

RENOVARE HOUSING SERVICES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

RENOVARE HOUSING SERVICES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Debtors

2023 2022
£ £
Other debtors 0 5,830
Total 0 5,830

RENOVARE HOUSING SERVICES CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 253,252 293,687
Total 253,252 293,687

COMMUNITY INTEREST ANNUAL REPORT

RENOVARE HOUSING SERVICES CIC

Company Number: 12383818 (England and Wales)

Year Ending: 31 March 2023

Company activities and impact

The company was created to provide housing services for the financially excluded in society in the UK.There has been no benefit to the community in the current financial period as the company was in the process of setting up and then Covid hit. This will be revisited in the coming years

Consultation with stakeholders

The company’s stakeholder is Renovare Holdings. The stakeholders of the company have lived experience and developed the business model based on their experiences.No other consultations have taken place this year.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
22 October 2023

And signed on behalf of the board by:
Name: David Bright
Status: Director