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REGISTERED NUMBER: 01294376 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 January 2024

for

RONO HOLDINGS LIMITED

RONO HOLDINGS LIMITED (REGISTERED NUMBER: 01294376)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RONO HOLDINGS LIMITED

Company Information
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: R L Ollis
N Ollis





SECRETARY: R L Ollis





REGISTERED OFFICE: 7 Chewton Close
Keynsham
Bristol
BS31 1BQ





REGISTERED NUMBER: 01294376 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Bath House
6 - 8 Bath Street
Bristol
BS1 6HL

RONO HOLDINGS LIMITED (REGISTERED NUMBER: 01294376)

Balance Sheet
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 9,799 14,699
Investment property 5 1,080,000 1,030,000
1,089,799 1,044,699

CURRENT ASSETS
Debtors 6 1,118 395
Cash at bank 39,034 47,752
40,152 48,147
CREDITORS
Amounts falling due within one year 7 (282,145 ) (255,570 )
NET CURRENT LIABILITIES (241,993 ) (207,423 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

847,806

837,276

CREDITORS
Amounts falling due after more than one
year

8

(13,700

)

(27,360

)

PROVISIONS FOR LIABILITIES (52,947 ) (41,672 )
NET ASSETS 781,159 768,244

CAPITAL AND RESERVES
Called up share capital 46,500 46,500
Capital redemption reserve 83,500 83,500
Fair value reserve 449,350 411,850
Retained earnings 201,809 226,394
SHAREHOLDERS' FUNDS 781,159 768,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

RONO HOLDINGS LIMITED (REGISTERED NUMBER: 01294376)

Balance Sheet - continued
31 JANUARY 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





R L Ollis - Director


RONO HOLDINGS LIMITED (REGISTERED NUMBER: 01294376)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024


1. COMPANY INFORMATION

Rono Holdings 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 the provision of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the fair value of investment properties.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents rents received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on cost

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

RONO HOLDINGS LIMITED (REGISTERED NUMBER: 01294376)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 2 (2023 - 2 ) .

RONO HOLDINGS LIMITED (REGISTERED NUMBER: 01294376)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 February 2023
and 31 January 2024 24,499
DEPRECIATION
At 1 February 2023 9,800
Charge for year 4,900
At 31 January 2024 14,700
NET BOOK VALUE
At 31 January 2024 9,799
At 31 January 2023 14,699

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 1,030,000
Revaluations 50,000
At 31 January 2024 1,080,000
NET BOOK VALUE
At 31 January 2024 1,080,000
At 31 January 2023 1,030,000

The valuations of investment properties were made as at 31 January 2024 by the directors on a open market basis. No deprecation is provided in respect of these properties.

On an historical cost basis these would have been included at an original cost of £580,153.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 447 -
Prepayments 671 395
1,118 395

RONO HOLDINGS LIMITED (REGISTERED NUMBER: 01294376)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,660 13,660
Trade creditors 30 149
Tax 7,861 8,717
Other creditors 222,633 204,502
Deposits held 2,000 2,000
Directors' current accounts 29,876 26,306
Accruals and deferred income 6,085 236
282,145 255,570

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 13,700 13,660
Bank loans - 2-5 years - 13,700
13,700 27,360

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 27,360 41,020

The bank loan is secured against the properties held.