Caseware UK (AP4) 2023.0.135 2023.0.135 true2023-01-01false9No description of principal activity12falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 5593911 2023-01-01 2023-12-31 5593911 2022-01-01 2022-12-31 5593911 2023-12-31 5593911 2022-12-31 5593911 c:Director1 2023-01-01 2023-12-31 5593911 c:Director2 2023-01-01 2023-12-31 5593911 c:Director3 2023-01-01 2023-12-31 5593911 c:Director3 2023-12-31 5593911 c:RegisteredOffice 2023-01-01 2023-12-31 5593911 d:FurnitureFittings 2023-01-01 2023-12-31 5593911 d:FurnitureFittings 2023-12-31 5593911 d:FurnitureFittings 2022-12-31 5593911 d:ComputerEquipment 2023-01-01 2023-12-31 5593911 d:ComputerEquipment 2023-12-31 5593911 d:ComputerEquipment 2022-12-31 5593911 d:CurrentFinancialInstruments 2023-12-31 5593911 d:CurrentFinancialInstruments 2022-12-31 5593911 d:Non-currentFinancialInstruments 2023-12-31 5593911 d:Non-currentFinancialInstruments 2022-12-31 5593911 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 5593911 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 5593911 d:UKTax 2023-01-01 2023-12-31 5593911 d:UKTax 2022-01-01 2022-12-31 5593911 c:FRS102 2023-01-01 2023-12-31 5593911 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 5593911 c:FullAccounts 2023-01-01 2023-12-31 5593911 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 5593911 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 5593911









RENOVATA PARTNERS LTD.







UNAUDITED

FINANCIAL STATEMENTS

For the Year Ended 31 December 2023

 
RENOVATA PARTNERS LTD.
 
 
COMPANY INFORMATION


Directors
M. Gill 
T. Jepsen 
H. Panchal (appointed 10 January 2024)




Registered number
5593911



Registered office
41-44 Great Queen Street

London

WC2B 5AD




Trading Address
41-44 Great Queen Street

London

WC2B 5AD






Accountant
Drennan & Co
Chartered Accountants

64 Belsize Park

London

NW3 4EH





 
RENOVATA PARTNERS LTD.
 

CONTENTS



Page
Directors' report
1
Accountant's report
2
Statement of comprehensive income
3
Balance sheet
4 - 5
Notes to the financial statements
6 - 11


 
RENOVATA PARTNERS LTD.
 
 
 
DIRECTORS' REPORT
For the Year Ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors

The directors who served during the year were:

M. Gill 
T. Jepsen 

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 7 August 2024 and signed on its behalf.
 





T. Jepsen
Director

Page 1

 
RENOVATA PARTNERS LTD.
 
 
  
CHARTERED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RENOVATA PARTNERS LTD.
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Renovata Partners Ltd. for the year ended 31 December 2023 which comprise the Statement of comprehensive income, the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW)I am subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Renovata Partners Ltd., as a body, in accordance with the terms of my engagement letter dated 18/09/2018My work has been undertaken solely to prepare for your approval the financial statements of Renovata Partners Ltd. and state those matters that I have agreed to state to the Board of directors of Renovata Partners Ltd., as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Renovata Partners Ltd. and its Board of directors, as a body, for my work or for this report. 

It is your duty to ensure that Renovata Partners Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Renovata Partners Ltd.. You consider that Renovata Partners Ltd. is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or review of the financial statements of Renovata Partners Ltd.. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

  



Drennan & Co
 
Chartered Accountants
  
64 Belsize Park
London
NW3 4EH
7 August 2024
Page 2

 
RENOVATA PARTNERS LTD.
 
 
STATEMENT OF COMPREHENSIVE INCOME
For the Year Ended 31 December 2023

2023
2022
Note
£
£

  

Turnover
  
2,611,586
3,513,074

Cost of sales
  
(76,370)
(152,824)

Gross profit
  
2,535,216
3,360,250

Administrative expenses
  
(2,419,331)
(2,015,955)

Operating profit
  
115,885
1,344,295

Interest payable and similar expenses
  
(17,286)
(9,471)

Profit before tax
  
98,599
1,334,824

Tax on profit
 4 
(21,488)
(253,617)

Profit for the year
  
77,111
1,081,207

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 6 to 11 form part of these financial statements.
Page 3

 
RENOVATA PARTNERS LTD.
Registered number: 5593911

BALANCE SHEET
As at 31 December 2023

2023
2022
Note
£
£

  

Fixed assets
  

Current assets
  

Debtors: amounts falling due within one year
 6 
2,991,293
2,031,249

Cash at bank and in hand
 7 
609,745
1,264,045

  
3,601,038
3,295,294

Creditors: amounts falling due within one year
 8 
(2,587,935)
(1,750,302)

Net current assets
  
 
 
1,013,103
 
 
1,544,992

Total assets less current liabilities
  
1,013,103
1,544,992

  

Creditors: amounts falling due after more than one year
 9 
(125,000)
(175,000)

  
888,103
1,369,992

  

  

Net assets excluding pension asset
  
888,103
1,369,992

Net assets
  
888,103
1,369,992


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
888,101
1,369,990

  
888,103
1,369,992

Page 4

 
RENOVATA PARTNERS LTD.
Registered number: 5593911
    
BALANCE SHEET (CONTINUED)
As at 31 December 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 August 2024.




T. Jepsen
Director

The notes on pages 6 to 11 form part of these financial statements.

Page 5

 
RENOVATA PARTNERS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

1.


General information

The entity is a  limited company registered in England & Wales. The registered office is 41-44 Great Queen Street, London WC2B 5AD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 6

 
RENOVATA PARTNERS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 7

 
RENOVATA PARTNERS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
10%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 9).

Page 8

 
RENOVATA PARTNERS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
21,488
253,617


21,488
253,617


Total current tax
21,488
253,617

Factors affecting tax charge for the year

The factor affecting  the tax charge for the year was marginal relief.


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
105,805
75,572
181,377



At 31 December 2023

105,805
75,572
181,377



Depreciation


At 1 January 2023
105,805
75,572
181,377



At 31 December 2023

105,805
75,572
181,377



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
-
-
-


6.


Debtors

Page 9

 
RENOVATA PARTNERS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023
2023
2022
£
£


Trade debtors
1,516,745
617,336

Amounts owed by group undertakings
654,697
1,143,092

Amounts owed by joint ventures and associated undertakings
-
186,180

Other debtors
769,334
41,911

Prepayments and accrued income
50,517
42,730

2,991,293
2,031,249



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
609,745
1,264,045

609,745
1,264,045



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
583,657
92,043

Amounts owed to group undertakings
1,034,977
219,483

Amounts owed to other participating interests
137,258
-

Corporation tax
227,105
253,617

Other taxation and social security
131,653
122,599

Other creditors
1,244
3,092

Accruals and deferred income
472,041
1,059,468

2,587,935
1,750,302




Page 10

 
RENOVATA PARTNERS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
125,000
175,000

125,000
175,000


CBILS loan.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£



Amounts falling due 2-5 years

Bank loans
125,000
175,000


125,000
175,000


125,000
175,000



11.


Related party transactions

During the period, the company received commission & management charges from another company under the control of the shareholders totaling £847,497 (2022: £894,051).


12.


Controlling party

The parent company is Renovata London Ltd, 41-44 Great Queen Street, London WC2B 5AD. 

 
Page 11