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REGISTERED NUMBER: 07426973 (England and Wales)















RENFOLD LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023






RENFOLD LIMITED (REGISTERED NUMBER: 07426973)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


RENFOLD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTOR: T Pyne





SECRETARY: L A Goodison





REGISTERED OFFICE: Renfold
1st Floor Thames Wharf Studios
Rainville Road
London
W6 9HA





REGISTERED NUMBER: 07426973 (England and Wales)





ACCOUNTANTS: TG Associates Limited
Chartered Accountants
7 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

RENFOLD LIMITED (REGISTERED NUMBER: 07426973)

BALANCE SHEET
31ST MARCH 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 145,791 95,383
Tangible assets 5 54,625 59,881
Investments 6 100 100
200,516 155,364

CURRENT ASSETS
Stocks 3,943,114 1,922,266
Debtors 7 2,145,344 2,350,119
Cash at bank 100,641 440,693
6,189,099 4,713,078
CREDITORS
Amounts falling due within one year 8 (3,986,011 ) (3,602,252 )
NET CURRENT ASSETS 2,203,088 1,110,826
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,403,604

1,266,190

CREDITORS
Amounts falling due after more than one
year

9

(1,293,425

)

(225,000

)
NET ASSETS 1,110,179 1,041,190

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,110,079 1,041,090
1,110,179 1,041,190

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

RENFOLD LIMITED (REGISTERED NUMBER: 07426973)

BALANCE SHEET - continued
31ST MARCH 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 23rd December 2023 and were signed by:





T Pyne - Director


RENFOLD LIMITED (REGISTERED NUMBER: 07426973)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

Renfold 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


RENFOLD LIMITED (REGISTERED NUMBER: 07426973)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 22 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st April 2022 136,261 - 136,261
Additions - 80,042 80,042
At 31st March 2023 136,261 80,042 216,303
AMORTISATION
At 1st April 2022 40,878 - 40,878
Charge for year 13,626 16,008 29,634
At 31st March 2023 54,504 16,008 70,512
NET BOOK VALUE
At 31st March 2023 81,757 64,034 145,791
At 31st March 2022 95,383 - 95,383

RENFOLD LIMITED (REGISTERED NUMBER: 07426973)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st April 2022 94,956
Additions 10,074
At 31st March 2023 105,030
DEPRECIATION
At 1st April 2022 35,075
Charge for year 15,330
At 31st March 2023 50,405
NET BOOK VALUE
At 31st March 2023 54,625
At 31st March 2022 59,881

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1st April 2022
and 31st March 2023 100
NET BOOK VALUE
At 31st March 2023 100
At 31st March 2022 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,934,981 1,837,186
Other debtors 210,363 512,933
2,145,344 2,350,119

RENFOLD LIMITED (REGISTERED NUMBER: 07426973)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 1,290,399 1,361,551
Trade creditors 1,834,087 2,004,256
Taxation and social security 34,292 69,269
Other creditors 827,233 167,176
3,986,011 3,602,252

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 175,000 225,000
Other creditors 1,118,425 -
1,293,425 225,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 175,000 225,000