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REGISTERED NUMBER: SC450910 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Renella Limited

Renella Limited (Registered number: SC450910)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Renella Limited (Registered number: SC450910)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 61,118 61,976

CURRENT ASSETS
Stocks 16,567 14,133
Debtors 5 6,041 46,926
Cash at bank and in hand 35 111
22,643 61,170
CREDITORS
Amounts falling due within one year 6 (59,978 ) (62,578 )
NET CURRENT LIABILITIES (37,335 ) (1,408 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,783

60,568

CREDITORS
Amounts falling due after more than one year 7 (64,784 ) (60,524 )
NET (LIABILITIES)/ASSETS (41,001 ) 44

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (41,021 ) 24
SHAREHOLDERS' FUNDS (41,001 ) 44

Renella Limited (Registered number: SC450910)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





R A J Miller - Director


Renella Limited (Registered number: SC450910)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Renella Limited is a private company, limited by shares, domiciled in Scotland, registration number SC450910. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, Stirlingshire, FK3 8WX.

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 represents net invoiced sales of goods and services in respect of hairdressing services, excluding value added tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 5% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Renella Limited (Registered number: SC450910)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Going concern
The directors of the company has reviewed the company's financial position for 12 months from the balance sheet signing date and it is their belief that the company should prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 80,618 3,256 1,121 84,995
DEPRECIATION
At 1 April 2022 22,254 182 583 23,019
Charge for year - 488 370 858
At 31 March 2023 22,254 670 953 23,877
NET BOOK VALUE
At 31 March 2023 58,364 2,586 168 61,118
At 31 March 2022 58,364 3,074 538 61,976

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts owed by related parties 6,041 46,926

Renella Limited (Registered number: SC450910)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,797 9,000
Taxation and social security 33,639 22,750
Other creditors 15,542 30,828
59,978 62,578

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 29,814 31,833
Other creditors 34,970 28,691
64,784 60,524

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank overdraft 1,797 -

The company has granted a floating charge over the assets of the company to Bank of Scotland as security for the bank overdraft.

9. RELATED PARTY DISCLOSURES

Companies under common control

At the year end the company was owed £6,041 (2022 - £46,926) by companies with common directors and shareholders.