Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr R M Cox 25/10/2013 09 April 2024 The principal activity of the Company during the financial year was the distribution of cantilever racking, welding positioners and accessories. The company ceased to trade on 31 December 2023. 08749340 2023-12-31 08749340 bus:Director1 2023-12-31 08749340 core:CurrentFinancialInstruments 2023-12-31 08749340 core:CurrentFinancialInstruments 2022-12-31 08749340 2022-12-31 08749340 core:ShareCapital 2023-12-31 08749340 core:ShareCapital 2022-12-31 08749340 core:RetainedEarningsAccumulatedLosses 2023-12-31 08749340 core:RetainedEarningsAccumulatedLosses 2022-12-31 08749340 bus:OrdinaryShareClass1 2023-12-31 08749340 2023-01-01 2023-12-31 08749340 bus:FilletedAccounts 2023-01-01 2023-12-31 08749340 bus:SmallEntities 2023-01-01 2023-12-31 08749340 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08749340 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08749340 bus:Director1 2023-01-01 2023-12-31 08749340 2022-01-01 2022-12-31 08749340 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08749340 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08749340 (England and Wales)

RENCOL AUTOMATION LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

RENCOL AUTOMATION LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

RENCOL AUTOMATION LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
RENCOL AUTOMATION LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
2023 2022
£ £
Current assets
Debtors 3 0 46
Cash at bank and in hand 319 273
319 319
Creditors: amounts falling due within one year 4 ( 319) ( 37,479)
Net current liabilities 0 (37,160)
Total assets less current liabilities 0 (37,160)
Net liabilities 0 ( 37,160)
Capital and reserves
Called-up share capital 5 1 1
Profit and loss account ( 1 ) ( 37,161 )
Total shareholder's deficit 0 ( 37,160)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Rencol Automation Limited (registered number: 08749340) were approved and authorised for issue by the Director on 09 April 2024. They were signed on its behalf by:

Mr R M Cox
Director
RENCOL AUTOMATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
RENCOL AUTOMATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rencol Automation Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Avonbridge Trading Estate, Atlantic Road, Bristol, BS11 9QD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2023 the directors made the decision that the Company would cease trading. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

2023 2022
£ £
VAT recoverable 0 46

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 319 36,230
Accruals 0 1,249
319 37,479

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and not yet paid
1 Ordinary share of £ 1.00 1 1

6. Related party transactions

At the year end £319 (2022: £36,230) was due to the parent company.