Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12407443 2023-02-01 2024-01-31 12407443 2022-02-01 2023-01-31 12407443 2024-01-31 12407443 2023-01-31 12407443 c:Director1 2023-02-01 2024-01-31 12407443 d:FurnitureFittings 2023-02-01 2024-01-31 12407443 d:FurnitureFittings 2024-01-31 12407443 d:FurnitureFittings 2023-01-31 12407443 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12407443 d:CurrentFinancialInstruments 2024-01-31 12407443 d:CurrentFinancialInstruments 2023-01-31 12407443 d:Non-currentFinancialInstruments 2024-01-31 12407443 d:Non-currentFinancialInstruments 2023-01-31 12407443 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12407443 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12407443 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 12407443 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 12407443 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 12407443 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-01-31 12407443 d:ShareCapital 2024-01-31 12407443 d:ShareCapital 2023-01-31 12407443 d:RetainedEarningsAccumulatedLosses 2024-01-31 12407443 d:RetainedEarningsAccumulatedLosses 2023-01-31 12407443 c:FRS102 2023-02-01 2024-01-31 12407443 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12407443 c:FullAccounts 2023-02-01 2024-01-31 12407443 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12407443 2 2023-02-01 2024-01-31 12407443 6 2023-02-01 2024-01-31 12407443 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 12407443









RENOVATE 2K LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
RENOVATE 2K LTD
REGISTERED NUMBER: 12407443

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,458
1,620

Investments
 5 
276,455
276,455

  
277,913
278,075

Current assets
  

Debtors: amounts falling due within one year
 6 
31,213
-

Cash at bank and in hand
 7 
5,537
2,239

  
36,750
2,239

Creditors: amounts falling due within one year
 8 
(64,465)
(56,410)

Net current liabilities
  
 
 
(27,715)
 
 
(54,171)

Total assets less current liabilities
  
250,198
223,904

Creditors: amounts falling due after more than one year
 9 
(245,814)
(220,679)

  

Net assets
  
4,384
3,225


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
4,284
3,125

  
4,384
3,225


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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 September 2024.
Page 1

 
RENOVATE 2K LTD
REGISTERED NUMBER: 12407443
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024





Terry Hannon
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
RENOVATE 2K LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Renovate 2K Limited is a private company limited by shares, registered in the United Kingdom number 12407443. Its registered office is Manor House, 35 St. Thomas’s Road, Chorley, Lancashire, PR7 1HP.
During the year, the principal activity of the company continued to be that of Other letting and operating of own or leased real estate.

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
RENOVATE 2K LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

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

 
2.7

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.

 
2.8

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 4

 
RENOVATE 2K LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10%

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.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

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.

 
2.12

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.

Page 5

 
RENOVATE 2K LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.13

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 0).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 February 2023
1,800



At 31 January 2024

1,800



Depreciation


At 1 February 2023
180


Charge for the year on owned assets
162



At 31 January 2024

342



Net book value



At 31 January 2024
1,458



At 31 January 2023
1,620

Page 6

 
RENOVATE 2K LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 February 2023
276,455



At 31 January 2024
276,455





6.


Debtors

2024
2023
£
£


Other debtors
31,213
-

31,213
-



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
5,537
2,239

5,537
2,239



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
302
353

Other creditors
62,962
55,699

Accruals and deferred income
1,201
358

64,465
56,410


Page 7

 
RENOVATE 2K LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
245,814
220,679

245,814
220,679


The following liabilities were secured:

2024
2023
£
£



Bank Loans
245,814
220,679

245,814
220,679

Details of security provided:

The Bank loan of £245,814 is secured on the Investment Property.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
245,814
220,679

245,814
220,679

245,814
220,679


 
Page 8