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Company Registration No. 10211675 (England and Wales)
Rengrave Limited Unaudited accounts for the year ended 31 March 2024
Rengrave Limited Unaudited accounts Contents
Page
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Rengrave Limited Company Information for the year ended 31 March 2024
Director
I M Reynolds
Company Number
10211675 (England and Wales)
Registered Office
Arnmoor House Hutton Sessay Thirsk North Yorkshire YO7 3BA England
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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Rengrave Limited Accountants' report
Accountants' report to the director of Rengrave Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rengrave Limited for the year ended 31 March 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Rengrave Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Rengrave Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rengrave Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Rengrave Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Rengrave Limited. You consider that Rengrave Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Rengrave Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 9 October 2024
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Rengrave Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
950 
4,370 
Investment property
2,099,048 
2,235,690 
2,099,998 
2,240,060 
Current assets
Debtors
854 
199,622 
Cash at bank and in hand
30,817 
23,101 
31,671 
222,723 
Creditors: amounts falling due within one year
(223,069)
(566,628)
Net current liabilities
(191,398)
(343,905)
Total assets less current liabilities
1,908,600 
1,896,155 
Creditors: amounts falling due after more than one year
(1,536,325)
(1,670,233)
Provisions for liabilities
Deferred tax
(96,219)
(59,194)
Net assets
276,056 
166,728 
Capital and reserves
Called up share capital
30 
30 
Revaluation reserve
483,040 
438,108 
Profit and loss account
(207,014)
(271,410)
Shareholders' funds
276,056 
166,728 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2024 and were signed on its behalf by
I M Reynolds Director Company Registration No. 10211675
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Rengrave Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Rengrave Limited is a private company, limited by shares, registered in England and Wales, registration number 10211675. The registered office is Arnmoor House, Hutton Sessay, Thirsk, North Yorkshire, YO7 3BA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The valuation was carried out by the Director, Mr Ian Reynolds, at the year end.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. The assets have been depreciated at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
between 20% and 25% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Rengrave Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
21,217 
552 
21,769 
At 31 March 2024
21,217 
552 
21,769 
Depreciation
At 1 April 2023
16,908 
491 
17,399 
Charge for the year
3,359 
61 
3,420 
At 31 March 2024
20,267 
552 
20,819 
Net book value
At 31 March 2024
950 
- 
950 
At 31 March 2023
4,309 
61 
4,370 
5
Investment property
2024 
£ 
Fair value at 1 April 2023
2,235,690 
Disposals
(200,000)
Net gain from fair value adjustments
63,358 
At 31 March 2024
2,099,048 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
854 
199,622 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
116,067 
442,588 
Loans from directors
105,569 
124,040 
Accruals
1,433 
- 
223,069 
566,628 
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Rengrave Limited Notes to the Accounts for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,500,324 
1,517,391 
Other creditors
36,001 
152,842 
1,536,325 
1,670,233 
Aggregate of amounts that fall due for payment after five years
1,500,324 
1,477,795 
In June 2020, the company received a Bounce Back Loan of £50,000, which is a 100% UK Government backed loan. Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government. After the first 12 months, an interest rate of 2.5% is applicable. The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
9
Deferred taxation
2024 
2023 
£ 
£ 
Revaluation of investment property
161,014 
146,036 
Tax losses carried forward
(64,795)
(86,842)
96,219 
59,194 
2024 
2023 
£ 
£ 
Provision at start of year
59,194 
(60,266)
Charged to the profit and loss account
37,025 
119,460 
Provision at end of year
96,219 
59,194 
Comparatives have been re-stated for deferred tax arising on revaluation of investment property and tax losses carried forward.
10
Transactions with related parties
Included in current assets are loans totalling £854 (2023 - £109,622) to related companies. Interest of £7,746 (2023 - £3,667) has been charged in the year. The balance owing to the Director's SSAS Pension, was fully settled. No interest was charged in the year (2023 - £4,669).
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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