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REGISTERED NUMBER: 07588779 (England and Wales)











Financial Statements

for the Year Ended 31 March 2024

for

RENT CONNECT HOUSING LIMITED

RENT CONNECT HOUSING LIMITED (REGISTERED NUMBER: 07588779)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RENT CONNECT HOUSING LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr L A Leviton
Mr B S Leviton
Mr D Goldring





REGISTERED OFFICE: 726 Capability Green
Luton
Bedfordshire
LU1 3LU





REGISTERED NUMBER: 07588779 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

RENT CONNECT HOUSING LIMITED (REGISTERED NUMBER: 07588779)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,981 2,563
Tangible assets 5 611,745 356,748
Investments 6 50 50
620,776 359,361

CURRENT ASSETS
Stocks 5,877 5,156
Debtors 7 3,100,413 2,362,836
Cash at bank and in hand 1,177,555 832,671
4,283,845 3,200,663
CREDITORS
Amounts falling due within one year 8 1,169,646 2,151,203
NET CURRENT ASSETS 3,114,199 1,049,460
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,734,975

1,408,821

CREDITORS
Amounts falling due after more than one year 9 (153,984 ) (24,167 )

PROVISIONS FOR LIABILITIES 10 (105,240 ) -
NET ASSETS 3,475,751 1,384,654

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 3,475,649 1,384,552
SHAREHOLDERS' FUNDS 3,475,751 1,384,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

RENT CONNECT HOUSING LIMITED (REGISTERED NUMBER: 07588779)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:





Mr L A Leviton - Director


RENT CONNECT HOUSING LIMITED (REGISTERED NUMBER: 07588779)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Rent Connect Housing 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents rent receivable. Rental income is recognised evenly over the duration of the lease.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Depreciation is provided at an annual rate of 20% on a reducing balance over its estimated useful life.

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 - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 Income Statement, 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.

Hire purchase and leasing commitments
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 38 (2023 - 32 ) .

RENT CONNECT HOUSING LIMITED (REGISTERED NUMBER: 07588779)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 April 2023 1,800,000 6,478 1,806,478
Additions - 7,560 7,560
At 31 March 2024 1,800,000 14,038 1,814,038
AMORTISATION
At 1 April 2023 1,800,000 3,915 1,803,915
Amortisation for year - 1,142 1,142
At 31 March 2024 1,800,000 5,057 1,805,057
NET BOOK VALUE
At 31 March 2024 - 8,981 8,981
At 31 March 2023 - 2,563 2,563

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 86,222 247,026 147,350 19,515 500,113
Additions 112,587 107,201 167,472 12,766 400,026
Disposals (11,280 ) (6,025 ) - - (17,305 )
At 31 March 2024 187,529 348,202 314,822 32,281 882,834
DEPRECIATION
At 1 April 2023 39,260 56,825 39,691 7,589 143,365
Charge for year 26,475 48,133 61,829 4,688 141,125
Eliminated on disposal (7,376 ) (6,025 ) - - (13,401 )
At 31 March 2024 58,359 98,933 101,520 12,277 271,089
NET BOOK VALUE
At 31 March 2024 129,170 249,269 213,302 20,004 611,745
At 31 March 2023 46,962 190,201 107,659 11,926 356,748

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 50
NET BOOK VALUE
At 31 March 2024 50
At 31 March 2023 50

RENT CONNECT HOUSING LIMITED (REGISTERED NUMBER: 07588779)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 251,485 104,541
Other debtors 890,519 730,066
Prepayments and accrued income 1,958,409 1,528,229
3,100,413 2,362,836

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 21,988 77,104
Trade creditors 301,516 205,470
Amounts owed to associates 67,245 1,558,053
Tax 636,478 235,860
Social security and other taxes 24,924 16,952
Other creditors 5,335 38,356
Accruals and deferred income 102,160 9,408
1,169,646 2,151,203

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 4,167 14,167
Hire purchase contracts 139,817 -
153,984 24,167

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 105,240 -

Deferred
tax
£   
Provided during year 105,240
Balance at 31 March 2024 105,240

11. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in creditors due within one year is £34,184 (2023: £1,480.430) due to Rent Connect Properties Limited, £32,033 (2023: £77,624) due to Quadelle Ltd, and £1,028 (2023: £nil) due to Sadie Lou Ltd, companies in which there is common directorship.

As at the balance sheet date, included in debtors due within one year is £nil (2023: £nil), due and payable from the directors. During the period interest of £9,400 was charged to the overdrawn directors loan accounts at 2.25%. The directors loan accounts were fully repaid during the period.