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Registration number: 11710406

Renda Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Renda Systems Limited

(Registration number: 11710406)
Balance Sheet as at 31 December 2023

2023
£

2022
£

Current assets

44,772

73,550

Prepayments and accrued income

808

2,608

Creditors: Amounts falling due within one year

(93,296)

(44,746)

Total assets less current liabilities

(47,716)

31,412

Creditors: Amounts falling due after more than one year

(250,000)

(250,000)

Accruals and deferred income

(1,550)

(1,460)

 

(299,266)

(220,048)

Capital and reserves

(299,266)

(220,048)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
A J Howes
Director

   
     
 

Renda Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Nexus
Discovery Way
LEEDS
LS2 3AA

These financial statements were authorised for issue by the Board on 31 October 2024.

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Going concern

The balance sheet shows a net liabilities position at 31 December 2023 as the Company has convertible loan note funding. These loan notes will be shown as long term liabilities until converted into equity.

The going concern basis has been adopted because the Directors believe that sufficient funds will be earned or available to support the business for at least the next twelve months. In forming this view, they have taken into account the Company’s ongoing commercial development activities, further funding from the subsequent issue of another £250,000 of convertible loan notes and an undertaking by its parent company, HP1 Technologies Limited, to provide any necessary additional funding.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).