IRIS Accounts Production v24.2.0.383 07964439 director 1.3.23 29.2.24 29.2.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079644392023-02-28079644392024-02-29079644392023-03-012024-02-29079644392022-02-28079644392022-03-012023-02-28079644392023-02-2807964439ns15:EnglandWales2023-03-012024-02-2907964439ns14:PoundSterling2023-03-012024-02-2907964439ns10:Director12023-03-012024-02-2907964439ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2907964439ns10:SmallEntities2023-03-012024-02-2907964439ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2907964439ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2907964439ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2907964439ns10:FullAccounts2023-03-012024-02-2907964439ns10:CompanySecretary12023-03-012024-02-2907964439ns10:RegisteredOffice2023-03-012024-02-2907964439ns5:CurrentFinancialInstruments2024-02-2907964439ns5:CurrentFinancialInstruments2023-02-2807964439ns5:Non-currentFinancialInstruments2024-02-2907964439ns5:Non-currentFinancialInstruments2023-02-2807964439ns5:ShareCapital2024-02-2907964439ns5:ShareCapital2023-02-2807964439ns5:RetainedEarningsAccumulatedLosses2024-02-2907964439ns5:RetainedEarningsAccumulatedLosses2023-02-2807964439ns5:PlantMachinery2023-03-012024-02-2907964439ns5:PlantMachinery2023-02-2807964439ns5:PlantMachinery2024-02-2907964439ns5:PlantMachinery2023-02-2807964439ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-02-2807964439ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-012024-02-2907964439ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-02-2907964439ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-02-2807964439ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2907964439ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-28079644391ns10:Director12023-02-28079644391ns10:Director12022-02-28079644391ns10:Director12023-03-012024-02-29079644391ns10:Director12022-03-012023-02-28079644391ns10:Director12024-02-29079644391ns10:Director12023-02-28
REGISTERED NUMBER: 07964439 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

RENOVATE (WALES) LIMITED

RENOVATE (WALES) LIMITED (Registered number: 07964439)






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


RENOVATE (WALES) LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTOR: J Roberts





SECRETARY: Mrs L Roberts





REGISTERED OFFICE: Derwen Bungalow
The Derwen
Bridgend
CF35 6HD





REGISTERED NUMBER: 07964439 (England and Wales)





ACCOUNTANTS: Fernlea Accounting Limited
84 Fernlea Park
Bryncoch
Neath
SA10 7SX

RENOVATE (WALES) LIMITED (Registered number: 07964439)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 52,289 41,839

CURRENT ASSETS
Stocks 58,170 21,263
Debtors 5 14,873 51,748
73,043 73,011
CREDITORS
Amounts falling due within one year 6 67,149 53,041
NET CURRENT ASSETS 5,894 19,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,183

61,809

CREDITORS
Amounts falling due after more than
one year

7

53,999

59,352
NET ASSETS 4,184 2,457

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 4,180 2,453
4,184 2,457

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.

RENOVATE (WALES) LIMITED (Registered number: 07964439)

Balance Sheet - continued
29 February 2024


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 director and authorised for issue on 29 November 2024 and were signed by:





J Roberts - Director


RENOVATE (WALES) LIMITED (Registered number: 07964439)

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

1. STATUTORY INFORMATION

RENOVATE (WALES) 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current 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 taxation 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.

RENOVATE (WALES) LIMITED (Registered number: 07964439)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 March 2023 80,651
Additions 24,865
Disposals (11,520 )
At 29 February 2024 93,996
DEPRECIATION
At 1 March 2023 38,812
Charge for year 8,896
Eliminated on disposal (6,001 )
At 29 February 2024 41,707
NET BOOK VALUE
At 29 February 2024 52,289
At 28 February 2023 41,839

RENOVATE (WALES) LIMITED (Registered number: 07964439)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£
COST
At 1 March 2023 52,200
Disposals (11,520 )
At 29 February 2024 40,680
DEPRECIATION
At 1 March 2023 20,021
Charge for year 6,323
Eliminated on disposal (6,001 )
At 29 February 2024 20,343
NET BOOK VALUE
At 29 February 2024 20,337
At 28 February 2023 32,179

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£ £
Trade debtors 12,253 25,116
Other debtors 2,620 26,632
14,873 51,748

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£ £
Bank loans and overdrafts 35,093 31,366
Hire purchase contracts 10,485 12,627
Trade creditors 3,878 3,983
Taxation and social security 1,343 3,695
Other creditors 16,350 1,370
67,149 53,041

RENOVATE (WALES) LIMITED (Registered number: 07964439)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.2.24 28.2.23
£ £
Bank loans 29,018 34,591
Hire purchase contracts 9,981 24,761
Other creditors 15,000 -
53,999 59,352

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£ £
Hire purchase contracts 20,466 37,388

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£ £
J Roberts
Balance outstanding at start of year 9,341 9,021
Amounts advanced - 12,247
Amounts repaid (9,341 ) (11,927 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 9,341