REGISTERED NUMBER: |
Renlet Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Profit and loss account - non distributable | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
Renlet Limited (Registered number: 04757650) |
Notes to the Financial Statements |
for the year ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Renlet Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans |
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 |
The bank loans are secured on the investment properties. |
9. | RESERVES |
Profit |
and loss |
account - |
non |
distributable |
£ |
At 1 July 2022 |
Transfer | (50,468 | ) |
At 30 June 2023 |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Advances mainly comprised authorised cash withdrawals. |