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REGISTERED NUMBER: 13526712 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

RETENDON LIMITED

RETENDON LIMITED (REGISTERED NUMBER: 13526712)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RETENDON LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTOR: A M Stevens





REGISTERED OFFICE: Core Technology Facility
46 Grafton Street
Manchester
M13 9NT





REGISTERED NUMBER: 13526712 (England and Wales)





AUDITORS: Beeley Hawley & Co. Ltd
Chartered Accountants
Statutory Auditors
42-44 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BL

RETENDON LIMITED (REGISTERED NUMBER: 13526712)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 12,960 7,895
Cash at bank 22,106 73,597
35,066 81,492
CREDITORS
Amounts falling due within one year 5 117,794 15,900
NET CURRENT (LIABILITIES)/ASSETS (82,728 ) 65,592
TOTAL ASSETS LESS CURRENT
LIABILITIES

(82,728

)

65,592

CREDITORS
Amounts falling due after more than one
year

6

-

85,206
NET LIABILITIES (82,728 ) (19,614 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (82,828 ) (19,714 )
(82,728 ) (19,614 )

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 30 July 2024 and were signed by:





A M Stevens - Director


RETENDON LIMITED (REGISTERED NUMBER: 13526712)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Retendon 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.

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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

RETENDON LIMITED (REGISTERED NUMBER: 13526712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. In these circumstances, where the debt instrument payable or receivable within a year is subject to interest, the interest is calculated using the effective interest rate method.

The company applies the provisions of section 11 and section 12 of FRS 102.

Convertible loans, where the conversion into equity is mandatory, are treated as financial liabilities with no equity component and are initially recognised at fair value through profit or loss. Where there is no reliable measure of the fair value of the company's financial liabilities, they are subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 12,960 7,895

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 93,378 -
Trade creditors 4,828 11,700
Social security and other taxes 9,727 -
Other creditors 764 -
Wages 1,897 -
Accrued expenses 7,200 4,200
117,794 15,900

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 85,206

7. FINANCIAL INSTRUMENTS

Financial liabilities 2023 2022
£    £   
Financial liabilities measured at fair value through the profit and loss 93,377 85,806

During the comparative year a convertible loan of 100,000 Euros was received by the company from its immediate parent. The loan has a maturity period of 30 months.

The loan is repayable at a premium in the event that a third party acquires a controlling interest in the company prior to maturity. Otherwise the loan will convert to equity in accordance with the terms of the instrument.

RETENDON LIMITED (REGISTERED NUMBER: 13526712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

G M Beeley (Senior Statutory Auditor)
for and on behalf of Beeley Hawley & Co. Ltd

9. RELATED PARTY DISCLOSURES

The company's immediate parent company is NLC Ventures Netherlands BV , Paasheuvelweg 25, 1105 BP Amsterdam, The Netherlands.The ultimate parent company is NLC International BV.

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.