IRIS Accounts Production v24.1.9.2 11183037 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111830372023-02-28111830372024-02-29111830372023-03-012024-02-29111830372022-02-28111830372022-03-012023-02-28111830372023-02-2811183037ns15:EnglandWales2023-03-012024-02-2911183037ns14:PoundSterling2023-03-012024-02-2911183037ns10:Director12023-03-012024-02-2911183037ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2911183037ns10:SmallEntities2023-03-012024-02-2911183037ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2911183037ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2911183037ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2911183037ns10:FullAccounts2023-03-012024-02-291118303712023-03-012024-02-2911183037ns10:Director22023-03-012024-02-2911183037ns10:Director32023-03-012024-02-2911183037ns10:CompanySecretary12023-03-012024-02-2911183037ns10:RegisteredOffice2023-03-012024-02-2911183037ns5:CurrentFinancialInstruments2024-02-2911183037ns5:CurrentFinancialInstruments2023-02-2811183037ns5:ShareCapital2024-02-2911183037ns5:ShareCapital2023-02-2811183037ns5:RetainedEarningsAccumulatedLosses2024-02-2911183037ns5:RetainedEarningsAccumulatedLosses2023-02-2811183037ns5:NetGoodwill2023-03-012024-02-2911183037ns5:LandBuildings2023-03-012024-02-2911183037ns5:PlantMachinery2023-03-012024-02-2911183037ns5:NetGoodwill2023-02-2811183037ns5:NetGoodwill2024-02-2911183037ns5:NetGoodwill2023-02-2811183037ns5:LandBuildings2023-02-2811183037ns5:PlantMachinery2023-02-2811183037ns5:LandBuildings2024-02-2911183037ns5:PlantMachinery2024-02-2911183037ns5:LandBuildings2023-02-2811183037ns5:PlantMachinery2023-02-2811183037ns5:CostValuation2023-02-2811183037ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2911183037ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-28
REGISTERED NUMBER: 11183037 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Relinquo Holdings Limited

Relinquo Holdings Limited (Registered number: 11183037)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Relinquo Holdings Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr Prakash Narottambhai Patel
Mrs Anjana Patel
Miss Nikhila Patel





SECRETARY: Mrs Anjana Patel





REGISTERED OFFICE: Office 1
21 Hatherton Street
Walsall
WS4 2LA





REGISTERED NUMBER: 11183037 (England and Wales)





ACCOUNTANTS: Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA

Relinquo Holdings Limited (Registered number: 11183037)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 638,613 -
Tangible assets 5 277,707 207,089
Investments 6 100 100
916,420 207,189

CURRENT ASSETS
Stocks 161,686 102,024
Debtors 7 456,718 656,485
Cash at bank and in hand 200,093 216,700
818,497 975,209
CREDITORS
Amounts falling due within one year 8 (953,012 ) (481,856 )
NET CURRENT (LIABILITIES)/ASSETS (134,515 ) 493,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

781,905

700,542

PROVISIONS FOR LIABILITIES (22,159 ) (6,214 )
NET ASSETS 759,746 694,328

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 759,646 694,228
SHAREHOLDERS' FUNDS 759,746 694,328

Relinquo Holdings Limited (Registered number: 11183037)

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





Mr Prakash Narottambhai Patel - Director


Relinquo Holdings Limited (Registered number: 11183037)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

Relinquo 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 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.

The company was at the end of the year, a wholly owned subsidiary of another company incorporated in the EEA and in accordance with Section 400 of the Companies Act 2006, is not required to produce, and has not published consolidated accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill being the amount paid in connection with the aquisition of business which will be amortised over its estimated useful life of 25 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over the life of asset
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Relinquo Holdings Limited (Registered number: 11183037)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


2. ACCOUNTING POLICIES - continued
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 36 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023 285,000
Additions 665,222
At 29 February 2024 950,222
AMORTISATION
At 1 March 2023 285,000
Charge for year 26,609
At 29 February 2024 311,609
NET BOOK VALUE
At 29 February 2024 638,613
At 28 February 2023 -

Relinquo Holdings Limited (Registered number: 11183037)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 358,465 196,823 555,288
Additions 24,103 70,459 94,562
At 29 February 2024 382,568 267,282 649,850
DEPRECIATION
At 1 March 2023 183,776 164,423 348,199
Charge for year 14,460 9,484 23,944
At 29 February 2024 198,236 173,907 372,143
NET BOOK VALUE
At 29 February 2024 184,332 93,375 277,707
At 28 February 2023 174,689 32,400 207,089

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 29 February 2024 100
NET BOOK VALUE
At 29 February 2024 100
At 28 February 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 399,640 208,367
Other debtors 57,078 448,118
456,718 656,485

Relinquo Holdings Limited (Registered number: 11183037)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 527,478 285,409
Taxation and social security 72,684 66,074
Other creditors 352,850 130,373
953,012 481,856

9. RELATED PARTY DISCLOSURES

Included within Other Creditors is an amount of £308,542.37 which is owed to Aum Healthcare Limited as of 29 February 2024. Interest is charged at 3%. The Loan is repayable on demand.

Mr P N Patel and Mrs A Patel were the directors of Aum Healthcare Limited as of 29 February 2024.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Aum Group Limited by virture of its ownership of 100% of the issued share capital in the company.