Registered number
12118002
Renniks Property Limited
Unaudited Filleted Accounts
31 July 2024
Renniks Property Limited
Registered number: 12118002
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,980 1,556
Investments 4 1,660,000 1,606,321
1,661,980 1,607,877
Current assets
Debtors 5 250 1,257
Cash at bank and in hand 23,425 11,880
23,675 13,137
Creditors: amounts falling due within one year 6 (11,575) (10,181)
Net current assets 12,100 2,956
Total assets less current liabilities 1,674,080 1,610,833
Creditors: amounts falling due after more than one year 7 (1,538,404) (1,589,623)
Provisions for liabilities (3,360) -
Net assets 132,316 21,210
Capital and reserves
Called up share capital 100 100
Profit and loss account 132,216 21,110
Shareholders' funds 132,316 21,210
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Skinner
Director
Approved by the board on 13 November 2024
Renniks Property Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
The company has no turnover as its income is all rent from rental properties. Rent is recognised in the accounts in the year to which it relates.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures and Fittings
£
Cost
At 1 August 2023 2,334
Additions 1,782
At 31 July 2024 4,116
Depreciation
At 1 August 2023 778
Charge for the year 1,358
At 31 July 2024 2,136
Net book value
At 31 July 2024 1,980
At 31 July 2023 1,556
4 Investments
Other
investments
£
Cost
At 1 August 2023 1,606,321
Additions (24,131)
Revaluation 77,810
At 31 July 2024 1,660,000
Investment properties are carried at fair value with gains/losses recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

All investment properties' fair value could be measured reliably without undue cost or effort. At the year end the Director, Mr C Skinner, has assessed the fair value of each property and this is reflected in the cumulative carring amount.
5 Debtors 2024 2023
£ £
Other debtors 250 1,257
250 1,257
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,684 -
Taxation and social security costs 8,734 7,781
Other creditors 157 2,400
11,575 10,181
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,136,491 1,144,969
Other creditors 401,913 444,654
1,538,404 1,589,623
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 1,124,194 -
Secured bank loans 1,139,175 -
The above loans are secured via fixed charges over the company's investment properties.
9 Other information
Renniks Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Roseberry Street
Taunton
Somerset
TA2 6NF
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