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REGISTERED NUMBER: SC583190 (Scotland)












Financial Statements

for the Year Ended 30 November 2023

for

Renewatec Ltd.

Renewatec Ltd. (Registered number: SC583190)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Renewatec Ltd.

Company Information
for the Year Ended 30 November 2023







DIRECTOR: D Milne





REGISTERED OFFICE: Radleigh House Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC583190 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Renewatec Ltd. (Registered number: SC583190)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,502 2,397

CURRENT ASSETS
Debtors 5 51,956 39,148
Cash at bank 12,687 2,194
64,643 41,342
CREDITORS
Amounts falling due within one year 6 40,695 24,098
NET CURRENT ASSETS 23,948 17,244
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,450

19,641

CREDITORS
Amounts falling due after more than one
year

7

(40,327

)

(9,074

)

PROVISIONS FOR LIABILITIES (8,075 ) (455 )
NET ASSETS 18,048 10,112

CAPITAL AND RESERVES
Called up share capital 8 2 1
Retained earnings 18,046 10,111
SHAREHOLDERS' FUNDS 18,048 10,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Renewatec Ltd. (Registered number: SC583190)

Balance Sheet - continued
30 November 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 4 April 2024 and were signed by:





D Milne - Director


Renewatec Ltd. (Registered number: SC583190)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Renewatec Ltd. is a private company, limited by shares , registered in Scotland. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents the amounts received from Engineering services provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Renewatec Ltd. (Registered number: SC583190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022 3,773 302 - 4,075
Additions 1,814 - 43,350 45,164
At 30 November 2023 5,587 302 43,350 49,239
DEPRECIATION
At 1 December 2022 1,598 80 - 1,678
Charge for year 510 33 4,516 5,059
At 30 November 2023 2,108 113 4,516 6,737
NET BOOK VALUE
At 30 November 2023 3,479 189 38,834 42,502
At 30 November 2022 2,175 222 - 2,397

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 51,956 39,148

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,576 2,780
Hire purchase contracts 7,192 -
Taxation and social security 28,925 18,819
Other creditors 2,002 2,499
40,695 24,098

Renewatec Ltd. (Registered number: SC583190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 6,766 9,074
Hire purchase contracts 33,561 -
40,327 9,074

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary A Shares £1 1 1
1 Ordinary B Shares £1 1 -
2 1