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REGISTERED NUMBER: 03449127 (England and Wales)













Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Renco Nets Limited

Renco Nets Limited (Registered number: 03449127)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Renco Nets Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: R Jorgensen





REGISTERED OFFICE: Pelham Industrial Estate
Manby Road
Immingham
N E Lincolnshire
DN40 2SE





REGISTERED NUMBER: 03449127 (England and Wales)

Renco Nets Limited (Registered number: 03449127)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 305,727 306,409

CURRENT ASSETS
Stocks 229,350 156,227
Debtors 5 257,058 247,800
Cash at bank 129,916 164,432
616,324 568,459
CREDITORS
Amounts falling due within one year 6 659,961 616,120
NET CURRENT LIABILITIES (43,637 ) (47,661 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

262,090

258,748

PROVISIONS FOR LIABILITIES 4,671 6,147
NET ASSETS 257,419 252,601

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 257,319 252,501
SHAREHOLDERS' FUNDS 257,419 252,601

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 director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 July 2024 and were signed by:





R Jorgensen - Director


Renco Nets Limited (Registered number: 03449127)

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

1. STATUTORY INFORMATION

Renco Nets 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.

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

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

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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

Renco Nets Limited (Registered number: 03449127)

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 March 2023 165,002 113,440 87,074
Additions - 2,700 -
At 29 February 2024 165,002 116,140 87,074
DEPRECIATION
At 1 March 2023 - - 59,557
Charge for year - - 4,129
At 29 February 2024 - - 63,686
NET BOOK VALUE
At 29 February 2024 165,002 116,140 23,388
At 28 February 2023 165,002 113,440 27,517

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 1,027 16,947 383,490
Additions - 1,189 3,889
At 29 February 2024 1,027 18,136 387,379
DEPRECIATION
At 1 March 2023 1,027 16,497 77,081
Charge for year - 442 4,571
At 29 February 2024 1,027 16,939 81,652
NET BOOK VALUE
At 29 February 2024 - 1,197 305,727
At 28 February 2023 - 450 306,409

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 225,917 240,628
Other debtors 31,141 7,172
257,058 247,800

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 60,930 35,986
Taxation and social security 60,655 76,990
Other creditors 538,376 503,144
659,961 616,120

7. ULTIMATE CONTROLLING PARTY

The Entire Share Capital is Owned by Mr.R.Jorgensen.