Company Registration No. 11473558 (England and Wales)
RENOURISH LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
RENOURISH LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
RENOURISH LIMITED
Company Registration No. 11473558
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
38,806
Tangible assets
4
107,983
48,131
107,983
86,937
Current assets
Stocks
147,630
147,479
Debtors
6
482,922
397,080
Cash at bank and in hand
126,333
430,783
756,885
975,342
Creditors: amounts falling due within one year
7
(408,542)
(400,189)
Net current assets
348,343
575,153
Total assets less current liabilities
456,326
662,090
Creditors: amounts falling due after more than one year
8
(137,500)
(22,500)
Net assets
318,826
639,590
Capital and reserves
Called up share capital
9
1
1
Share premium account
3,202,329
2,650,552
Profit and loss reserves
(2,883,504)
(2,010,963)
Total equity
318,826
639,590
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
RENOURISH LIMITED
Company Registration No. 11473558
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 4 October 2024 and are signed on its behalf by:
N Clark
Director
RENOURISH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
ReNourish Limited is a private company limited by shares incorporated in England and Wales. The registered office is Renourish HQ, The Long Barn, Down Farm, Cobham Park Road, Downside, Cobham, Surrey, England, KT11 3NE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors are confident that the Company has adequate resources to continue in operational existence for the foreseeable future and meet its financial obligations. Therefore they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for manufacturing of food , and is shown net of VAT and other sales related taxes.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Patents & licences
3 years straight line
Website
3 years straight line
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
12 years Straight line
Fixtures and fittings
10 years Straight line
RENOURISH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and 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.
1.8
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
RENOURISH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
10
8
3
Intangible fixed assets
Other
Website
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
94,340
70,733
165,073
Amortisation and impairment
At 1 April 2023
77,443
48,824
126,267
Amortisation charged for the year
16,897
21,909
38,806
At 31 March 2024
94,340
70,733
165,073
Carrying amount
At 31 March 2024
At 31 March 2023
16,897
21,909
38,806
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
42,818
35,668
78,486
Additions
69,869
69,869
Disposals
(499)
(499)
At 31 March 2024
112,687
35,169
147,856
Depreciation and impairment
At 1 April 2023
20,186
10,169
30,355
Depreciation charged in the year
6,400
3,458
9,858
Eliminated in respect of disposals
(340)
(340)
At 31 March 2024
26,586
13,287
39,873
Carrying amount
At 31 March 2024
86,101
21,882
107,983
At 31 March 2023
22,632
25,499
48,131
RENOURISH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Change of company details
The company changed it's name from ReNourished Limited to ReNourish Limited from 5th December 2018.
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
445,182
342,509
Other debtors
37,740
54,571
482,922
397,080
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
375,466
350,890
Taxation and social security
16,111
30,136
Other creditors
6,965
9,163
408,542
400,189
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
137,500
22,500
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.01p each
10,673
10,535
1
1
Preference shares of 0.01p each
3,572
3,204
-
-
10
Related party transactions
At the balance sheet date, there is £Nil (2023 - £Nil) owing to the director.