6 false false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08808634 2022-07-01 2023-06-30 08808634 2023-06-30 08808634 2022-06-30 08808634 2021-07-01 2022-06-30 08808634 2022-06-30 08808634 2021-06-30 08808634 core:PlantMachinery 2022-07-01 2023-06-30 08808634 core:FurnitureFittings 2022-07-01 2023-06-30 08808634 bus:Director1 2022-07-01 2023-06-30 08808634 core:PlantMachinery 2022-06-30 08808634 core:FurnitureFittings 2022-06-30 08808634 core:PlantMachinery 2023-06-30 08808634 core:FurnitureFittings 2023-06-30 08808634 core:WithinOneYear 2023-06-30 08808634 core:WithinOneYear 2022-06-30 08808634 core:ShareCapital 2023-06-30 08808634 core:ShareCapital 2022-06-30 08808634 core:RetainedEarningsAccumulatedLosses 2023-06-30 08808634 core:RetainedEarningsAccumulatedLosses 2022-06-30 08808634 core:PlantMachinery 2022-06-30 08808634 core:FurnitureFittings 2022-06-30 08808634 bus:SmallEntities 2022-07-01 2023-06-30 08808634 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 08808634 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 08808634 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08808634 bus:FullAccounts 2022-07-01 2023-06-30 08808634 core:OfficeEquipment 2022-07-01 2023-06-30 08808634 core:OfficeEquipment 2022-06-30 08808634 core:OfficeEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 08808634
RENWIX LIMITED
Filleted Unaudited Financial Statements
30 June 2023
RENWIX LIMITED
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
50,217
65,381
Current assets
Stocks
10,822
29,160
Debtors
6
70,302
37,468
Cash at bank and in hand
25,875
17,391
---------
--------
106,999
84,019
Creditors: amounts falling due within one year
7
43,896
38,674
---------
--------
Net current assets
63,103
45,345
---------
---------
Total assets less current liabilities
113,320
110,726
---------
---------
Net assets
113,320
110,726
---------
---------
Capital and reserves
Called up share capital
1,100
1,100
Profit and loss account
112,220
109,626
---------
---------
Shareholders funds
113,320
110,726
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RENWIX LIMITED
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 21 January 2024 , and are signed on behalf of the board by:
Mr R Williams Director
Company registration number: 08808634
RENWIX LIMITED
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Glenview, Sycamore Terrace, Magor, Caldicot, NP26 3EG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Fixtures & Fittings
-
25% reducing balance
Office Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 5 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 July 2022
236,170
16,132
9,552
261,854
Additions
123
45
1,458
1,626
---------
--------
--------
---------
At 30 June 2023
236,293
16,177
11,010
263,480
---------
--------
--------
---------
Depreciation
At 1 July 2022
181,503
8,122
6,848
196,473
Charge for the year
13,750
2,000
1,040
16,790
---------
--------
--------
---------
At 30 June 2023
195,253
10,122
7,888
213,263
---------
--------
--------
---------
Carrying amount
At 30 June 2023
41,040
6,055
3,122
50,217
---------
--------
--------
---------
At 30 June 2022
54,667
8,010
2,704
65,381
---------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
67,302
34,468
Other debtors
3,000
3,000
--------
--------
70,302
37,468
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
259
257
Corporation tax
15,850
14,626
Social security and other taxes
22,306
16,457
Other creditors - BSL
5,748
Other creditors
5,481
1,586
--------
--------
43,896
38,674
--------
--------
8. Directors' advances, credits and guarantees
As at the year end, 30th June 2023, the company owed the director, Mr R Williams , £3,911 (2022 - £16).
9. Related party transactions
The company was under the control of Mr R Williams throughout the current and previous year. Mr R Williams is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 section 1A.