IRIS Accounts Production v23.4.0.336 04757650 Board of Directors 1.7.22 30.6.23 30.6.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh047576502022-06-30047576502023-06-30047576502022-07-012023-06-30047576502021-05-31047576502021-06-012022-06-30047576502022-06-3004757650ns14:PoundSterling2022-07-012023-06-3004757650ns10:Director12022-07-012023-06-3004757650ns10:PrivateLimitedCompanyLtd2022-07-012023-06-3004757650ns10:SmallEntities2022-07-012023-06-3004757650ns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3004757650ns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3004757650ns10:SmallCompaniesRegimeForAccounts2022-07-012023-06-3004757650ns10:FullAccounts2022-07-012023-06-3004757650ns10:Director22022-07-012023-06-3004757650ns10:CompanySecretary12022-07-012023-06-3004757650ns10:RegisteredOffice2022-07-012023-06-3004757650ns5:CurrentFinancialInstruments2023-06-3004757650ns5:CurrentFinancialInstruments2022-06-3004757650ns5:Non-currentFinancialInstruments2023-06-3004757650ns5:Non-currentFinancialInstruments2022-06-3004757650ns5:ShareCapital2023-06-3004757650ns5:ShareCapital2022-06-3004757650ns5:SharePremium2023-06-3004757650ns5:SharePremium2022-06-3004757650ns5:RevaluationReserve2023-06-3004757650ns5:RevaluationReserve2022-06-3004757650ns5:RetainedEarningsAccumulatedLosses2023-06-3004757650ns5:RetainedEarningsAccumulatedLosses2022-06-3004757650ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3004757650ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3004757650ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-06-3004757650ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-06-3004757650ns5:Secured2023-06-3004757650ns5:Secured2022-06-3004757650ns5:RevaluationReserve2022-06-3004757650ns10:Director222022-06-3004757650ns10:Director222021-05-3104757650ns10:Director222022-07-012023-06-3004757650ns10:Director222021-06-012022-06-3004757650ns10:Director222023-06-3004757650ns10:Director222022-06-30047576501ns10:Director12022-06-30047576501ns10:Director12021-05-31047576501ns10:Director12022-07-012023-06-30047576501ns10:Director12021-06-012022-06-30047576501ns10:Director12023-06-30047576501ns10:Director12022-06-30
REGISTERED NUMBER: 04757650










Renlet Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023






Renlet Limited (Registered number: 04757650)






Contents of the Financial Statements
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Renlet Limited

Company Information
for the year ended 30 June 2023







DIRECTORS: B M A Richardson
D W Wilson





SECRETARY: D W Wilson





REGISTERED OFFICE: Stone Cottage
Studridge Lane
Speen
Princes Risborough
Buckinghamshire
HP7 0SF





REGISTERED NUMBER: 04757650





ACCOUNTANTS: Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

Renlet Limited (Registered number: 04757650)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Investment property 4 1,170,000 1,170,000

CURRENT ASSETS
Debtors 5 73,795 80,800

CREDITORS
Amounts falling due within one year 6 (35,173 ) (34,635 )
NET CURRENT ASSETS 38,622 46,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,208,622

1,216,165

CREDITORS
Amounts falling due after more than one
year

7

(439,805

)

(451,913

)

PROVISIONS FOR LIABILITIES (105,122 ) (79,893 )
NET ASSETS 663,695 684,359

CAPITAL AND RESERVES
Called up share capital 102 102
Share premium 39,998 39,998
Profit and loss account - non distributable 9 554,444 604,912
Retained earnings 69,151 39,347
SHAREHOLDERS' FUNDS 663,695 684,359

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

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

Renlet Limited (Registered number: 04757650)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





D W Wilson - Director


Renlet Limited (Registered number: 04757650)

Notes to the Financial Statements
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Renlet Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The company continues to have indefinite financial support from associate company, Northern Heritage Developments Limited and thus the financial statements can continue to be prepared on a going concern basis.

Revenue recognition
Turnover represents rents receivable on the rental of residential properties.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY

Investments are recorded at fair value as assessed by the directors, who have worked in the domestic property market all their working lives, together with local estate agencies who manage the properties and have local market knowledge.

Renlet Limited (Registered number: 04757650)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

4. INVESTMENT PROPERTY - continued

Cost or valuation at 30 June 2023 is represented by:
£   
Valuation in 2023 1,170,000

If investment properties had not been revalued they would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 510,434 510,434
Aggregate depreciation (115,285 ) (105,076 )

Investment properties were valued on an open market basis on 31 August 2023 by the directors .

5. DEBTORS
30.6.23 30.6.22
£    £   
Amounts falling due within one year:
Other debtors 63,969 70,974

Amounts falling due after more than one year:
Other debtors 9,826 9,826

Aggregate amounts 73,795 80,800

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 23,089 24,487
Taxation and social security 5,783 4,057
Other creditors 6,301 6,091
35,173 34,635

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 439,805 451,913

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 401,752 409,791

Renlet Limited (Registered number: 04757650)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 456,816 470,112

The bank loans are secured on the investment properties.

9. RESERVES
Profit
and loss
account -
non
distributable
£   
At 1 July 2022 604,912
Transfer (50,468 )

At 30 June 2023 554,444

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 June 2023 and the period ended 30 June 2022:

30.6.23 30.6.22
£    £   
B M A Richardson
Balance outstanding at start of year 17,859 36,084
Amounts advanced 4,525 2,150
Amounts repaid (7,830 ) (20,375 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,554 17,859

D W Wilson
Balance outstanding at start of year 6,378 14,628
Amounts advanced 1,300 -
Amounts repaid (5,750 ) (8,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,928 6,378

Advances mainly comprised authorised cash withdrawals.