Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Gulzhan Rennie 10/04/2015 Michael Ian Rennie 10/04/2015 24 January 2025 The principal activity of the Company during the financial year was rental of motor homes and the provision of consultancy services. SC502943 2024-04-30 SC502943 bus:Director1 2024-04-30 SC502943 bus:Director2 2024-04-30 SC502943 2023-04-30 SC502943 core:CurrentFinancialInstruments 2024-04-30 SC502943 core:CurrentFinancialInstruments 2023-04-30 SC502943 core:Non-currentFinancialInstruments 2024-04-30 SC502943 core:Non-currentFinancialInstruments 2023-04-30 SC502943 core:ShareCapital 2024-04-30 SC502943 core:ShareCapital 2023-04-30 SC502943 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC502943 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC502943 core:OtherPropertyPlantEquipment 2023-04-30 SC502943 core:OtherPropertyPlantEquipment 2024-04-30 SC502943 2022-04-30 SC502943 bus:OrdinaryShareClass1 2024-04-30 SC502943 2023-05-01 2024-04-30 SC502943 bus:FilletedAccounts 2023-05-01 2024-04-30 SC502943 bus:SmallEntities 2023-05-01 2024-04-30 SC502943 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC502943 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC502943 bus:Director1 2023-05-01 2024-04-30 SC502943 bus:Director2 2023-05-01 2024-04-30 SC502943 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 SC502943 2022-05-01 2023-04-30 SC502943 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 SC502943 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 SC502943 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC502943 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC502943 (Scotland)

RENNIE MOTORHOMES LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

RENNIE MOTORHOMES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

RENNIE MOTORHOMES LTD

BALANCE SHEET

AS AT 30 APRIL 2024
RENNIE MOTORHOMES LTD

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 180,826 212,532
180,826 212,532
Current assets
Debtors 4 102,392 85,330
Cash at bank and in hand 0 12,893
102,392 98,223
Creditors: amounts falling due within one year 5 ( 103,664) ( 93,215)
Net current (liabilities)/assets (1,272) 5,008
Total assets less current liabilities 179,554 217,540
Creditors: amounts falling due after more than one year 6 ( 179,438) ( 200,608)
Net assets 116 16,932
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 16 16,832
Total shareholders' funds 116 16,932

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Rennie Motorhomes Ltd (registered number: SC502943) were approved and authorised for issue by the Board of Directors on 24 January 2025. They were signed on its behalf by:

Michael Ian Rennie
Director
RENNIE MOTORHOMES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
RENNIE MOTORHOMES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rennie Motorhomes Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 36 Ashgrove Gardens Loanhead, Edinburgh, EH20 9GA, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for consultancy fees and the rental of motorhomes which are stated net of VAT and trade discounts. Turnover is recognised on an accruals basis, depending on the period covered by the provision of services or rental period.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception an the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 281,732 281,732
Additions 496 496
At 30 April 2024 282,228 282,228
Accumulated depreciation
At 01 May 2023 69,200 69,200
Charge for the financial year 32,202 32,202
At 30 April 2024 101,402 101,402
Net book value
At 30 April 2024 180,826 180,826
At 30 April 2023 212,532 212,532

4. Debtors

2024 2023
£ £
Deferred tax asset 4,818 766
Other debtors 97,574 84,564
102,392 85,330

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 24,364 19,443
Trade creditors 2,381 1,356
Taxation and social security 34,576 23,710
Obligations under finance leases and hire purchase contracts 37,887 41,294
Other creditors 4,456 7,412
103,664 93,215

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

Bank loans contain floating charges which cover all the property and undertakings of the company.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 83,136 67,213
Obligations under finance leases and hire purchase contracts 96,302 133,395
179,438 200,608

Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

Bank loans contain floating charges which cover all the property and undertakings of the company.

7. Deferred tax

2024 2023
£ £
At the beginning of financial year 766 5,845
Credited/(charged) to the Statement of Income and Retained Earnings 4,052 ( 5,079)
At the end of financial year 4,818 766

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Loan due from directors 69,651 57,793

During the year the company operated a loan account with the directors. There are no fixed terms of repayment and no interest is charged.