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REGISTERED NUMBER: 07964439 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

RENOVATE (WALES) LIMITED

RENOVATE (WALES) LIMITED (Registered number: 07964439)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RENOVATE (WALES) LIMITED

Company Information
for the Year Ended 28 February 2023







DIRECTOR: J Roberts





SECRETARY: Mrs L Roberts





REGISTERED OFFICE: Derwen Bungalow
The Derwen
Bridgend
CF35 6HD





REGISTERED NUMBER: 07964439 (England and Wales)





ACCOUNTANTS: Fernlea Accounting Limited
84 Fernlea Park
Bryncoch
Neath
SA10 7SX

RENOVATE (WALES) LIMITED (Registered number: 07964439)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,839 59,287

CURRENT ASSETS
Stocks 21,263 9,722
Debtors 5 51,748 70,898
73,011 80,620
CREDITORS
Amounts falling due within one year 6 53,041 75,731
NET CURRENT ASSETS 19,970 4,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,809

64,176

CREDITORS
Amounts falling due after more than
one year

7

59,352

68,068
NET ASSETS/(LIABILITIES) 2,457 (3,892 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 2,453 (3,896 )
2,457 (3,892 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

RENOVATE (WALES) LIMITED (Registered number: 07964439)

Balance Sheet - continued
28 February 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





J Roberts - Director


RENOVATE (WALES) LIMITED (Registered number: 07964439)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

RENOVATE (WALES) LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current 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 taxation 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.

RENOVATE (WALES) LIMITED (Registered number: 07964439)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 105,262
Additions 1,264
Disposals (25,875 )
At 28 February 2023 80,651
DEPRECIATION
At 1 March 2022 45,975
Charge for year 12,482
Eliminated on disposal (19,645 )
At 28 February 2023 38,812
NET BOOK VALUE
At 28 February 2023 41,839
At 28 February 2022 59,287

RENOVATE (WALES) LIMITED (Registered number: 07964439)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 62,295
DEPRECIATION
At 1 March 2022 11,878
Charge for year 8,917
At 28 February 2023 20,795
NET BOOK VALUE
At 28 February 2023 41,500
At 28 February 2022 50,417

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 25,116 17,732
Other debtors 26,632 53,166
51,748 70,898

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 31,366 33,497
Hire purchase contracts 12,627 13,835
Trade creditors 3,983 6,871
Taxation and social security 3,695 -
Other creditors 1,370 21,528
53,041 75,731

RENOVATE (WALES) LIMITED (Registered number: 07964439)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans 34,591 33,094
Hire purchase contracts 24,761 34,974
59,352 68,068

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Other loans - 13,138
Hire purchase contracts 37,388 48,809
37,388 61,947

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
J Roberts
Balance outstanding at start of year 9,021 (1,164 )
Amounts advanced 12,247 17,435
Amounts repaid (11,927 ) (7,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,341 9,021

The loan was repaid in full after the year end.