IRIS Accounts Production v24.3.2.46 06297129 Board of Directors 1.7.23 30.6.24 30.6.24 27/1/2025 true false true false false true false Auditors Opinion Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh062971292023-06-30062971292024-06-30062971292023-07-012024-06-30062971292022-06-30062971292022-07-012023-06-30062971292023-06-3006297129ns15:EnglandWales2023-07-012024-06-3006297129ns14:PoundSterling2023-07-012024-06-3006297129ns10:Director12023-07-012024-06-3006297129ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3006297129ns10:SmallEntities2023-07-012024-06-3006297129ns10:Audited2023-07-012024-06-3006297129ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3006297129ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3006297129ns10:FullAccounts2023-07-012024-06-3006297129ns10:OrdinaryShareClass12023-07-012024-06-3006297129ns10:Director22023-07-012024-06-3006297129ns10:RegisteredOffice2023-07-012024-06-3006297129ns5:CurrentFinancialInstruments2024-06-3006297129ns5:CurrentFinancialInstruments2023-06-3006297129ns5:Non-currentFinancialInstruments2024-06-3006297129ns5:Non-currentFinancialInstruments2023-06-3006297129ns5:ShareCapital2024-06-3006297129ns5:ShareCapital2023-06-3006297129ns5:RetainedEarningsAccumulatedLosses2024-06-3006297129ns5:RetainedEarningsAccumulatedLosses2023-06-3006297129ns5:ShortLeaseholdAssetsns5:LandBuildings2023-06-3006297129ns5:FurnitureFittings2023-06-3006297129ns5:ComputerEquipment2023-06-3006297129ns5:ShortLeaseholdAssetsns5:LandBuildings2023-07-012024-06-3006297129ns5:FurnitureFittings2023-07-012024-06-3006297129ns5:ComputerEquipment2023-07-012024-06-3006297129ns5:ShortLeaseholdAssetsns5:LandBuildings2024-06-3006297129ns5:FurnitureFittings2024-06-3006297129ns5:ComputerEquipment2024-06-3006297129ns5:ShortLeaseholdAssetsns5:LandBuildings2023-06-3006297129ns5:FurnitureFittings2023-06-3006297129ns5:ComputerEquipment2023-06-3006297129ns5:CostValuation2023-06-3006297129ns5:AdditionsToInvestments2024-06-3006297129ns5:DisposalsRepaymentsInvestments2024-06-3006297129ns5:RevaluationsIncreaseDecreaseInInvestments2024-06-3006297129ns5:CostValuation2024-06-3006297129ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3006297129ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3006297129ns5:WithinOneYear2024-06-3006297129ns5:WithinOneYear2023-06-3006297129ns5:BetweenOneFiveYears2024-06-3006297129ns5:BetweenOneFiveYears2023-06-3006297129ns5:AllPeriods2024-06-3006297129ns5:AllPeriods2023-06-3006297129ns10:OrdinaryShareClass12024-06-300629712912023-07-012024-06-30
REGISTERED NUMBER: 06297129 (England and Wales)















Financial Statements

for the Year Ended 30 June 2024

for

RENAISSANCE CAPITAL PARTNERS LIMITED

RENAISSANCE CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 06297129)

Contents of the Financial Statements
for the year ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RENAISSANCE CAPITAL PARTNERS LIMITED

Company Information
for the year ended 30 June 2024







Directors: K E Randall
M E Randall



Registered office: 3rd Floor
Aissela
46 High Street
Esher
KT10 9QY



Registered number: 06297129 (England and Wales)



Senior statutory auditor: Paul Hodgett BA (Hons) FCA



Auditors: Cooper Parry Group Limited
Statutory Auditor
Aissela
46 High Street
Esher
Surrey
KT10 9QY

RENAISSANCE CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 06297129)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 31,873 40,642
Investments 5 3,203,662 3,972,908
3,235,535 4,013,550

Current assets
Debtors 6 280,662 194,008
Investments 7 959 847
Cash at bank 27,117 94,142
308,738 288,997
Creditors
Amounts falling due within one year 8 75,256 85,398
Net current assets 233,482 203,599
Total assets less current liabilities 3,469,017 4,217,149

Creditors
Amounts falling due after more than one
year

9

21,416,202

21,130,087
Net liabilities (17,947,185 ) (16,912,938 )

Capital and reserves
Called up share capital 11 100 100
Retained earnings (17,947,285 ) (16,913,038 )
Shareholders' funds (17,947,185 ) (16,912,938 )

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:





M E Randall - Director


RENAISSANCE CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 06297129)

Notes to the Financial Statements
for the year ended 30 June 2024


1. Statutory information

Renaissance Capital Partners 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 as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern
The financial statements have been prepared on a going concern basis, despite the company having net liabilities at the year end of £17,947,185 (2023: £16,912,938).

The directors consider that this basis is appropriate as the ultimate controlling party, K E Randall has expressed his willingness to continue to provide sufficient finance to enable the company to continue to trade for the foreseeable future.

The financial statements do not include any adjustments that would result from the going concern basis of preparation being inappropriate.

Preparation of consolidated financial statements
The financial statements contain information about Renaissance Capital Partners Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Key source of estimation, uncertainty and judgement
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There is significant judgment in determining whether the fixed asset investments show indications of impairment. The directors make an assessment of the need for impairment on an asset by asset basis comparing the carrying amount of the asset against its potential recoverable value. Whilst every effort is made to ensure provisions are as accurate as possible, there remains a risk that the provisions do not match the ultimate recoverable value of the asset.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the sale of services and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover for services is recognised when the services are rendered.

RENAISSANCE CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 06297129)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


2. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery etc. - Straight line over 4 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

RENAISSANCE CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 06297129)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


2. Accounting policies - continued

Investments
Fixed asset investments are shown at cost less provision for impairment.

Assets are initially recognised at the transaction price which includes transaction costs.

At the end of each reporting period, the directors make an assessment of whether or not there is evidence of impairment. Impairment loss represents the difference between the asset's carrying amount and the best estimate of the amount that the entity would receive for the asset if it were sold at the reporting date. Impairment losses are immediately recognised in profit or loss.

The company's fund investment in publicly traded securities is measured at fair value through profit or loss. Fair value is determined using the market value of the fund as at the balance sheet date.

3. Employees and directors

The average number of employees during the year was 5 (2023 - 5 ) .

4. Tangible fixed assets
Fixtures
Short and Computer
leasehold fittings equipment Totals
£ £ £ £
Cost
At 1 July 2023 8,821 10,272 43,186 62,279
Additions - 1,617 3,723 5,340
At 30 June 2024 8,821 11,889 46,909 67,619
Depreciation
At 1 July 2023 3,528 1,233 16,876 21,637
Charge for year 1,765 2,746 9,598 14,109
At 30 June 2024 5,293 3,979 26,474 35,746
Net book value
At 30 June 2024 3,528 7,910 20,435 31,873
At 30 June 2023 5,293 9,039 26,310 40,642

5. Fixed asset investments

2024 2023
£ £
Shares in group undertakings 1 1
Other investments not loans 3,203,661 3,676,241
Other loans - 296,666
3,203,662 3,972,908

RENAISSANCE CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 06297129)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


5. Fixed asset investments - continued

Additional information is as follows:
Shares in
group Other
undertakings investments Totals
£ £ £
Cost or valuation
At 1 July 2023 1 5,665,605 5,665,606
Additions - 310,813 310,813
Disposals - (804,614 ) (804,614 )
Revaluations - (88,577 ) (88,577 )
At 30 June 2024 1 5,083,227 5,083,228
Provisions
At 1 July 2023 - 1,998,835 1,998,835
Provision for year - 444,238 444,238
Eliminated on disposal - (554,036 ) (554,036 )
At 30 June 2024 - 1,889,037 1,889,037
Net book value
At 30 June 2024 1 3,194,190 3,194,191
At 30 June 2023 1 3,666,770 3,666,771

Cost or valuation at 30 June 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£ £ £
Valuation in 2024 1 (88,577 ) (88,576 )
Cost - 5,171,804 5,171,804
1 5,083,227 5,083,228

Investments (neither listed nor unlisted) were as follows:
2024 2023
£ £
Art 9,471 9,471


Other
loans£
At 1 July 2023 296,666
Loan note converted to shares (296,666 )
At 30 June 2024 -

The convertible loan notes were converted into 148,006,317 ordinary shares of £0.0001 each during the year.

RENAISSANCE CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 06297129)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 118,414 6,150
Amounts owed by group undertakings 55,221 3,167
Other debtors 60,276 82,307
VAT 7,610 11,992
Prepayments and accrued income 39,141 90,392
280,662 194,008

7. Current asset investments
2024 2023
£ £
Other Investments 959 847

8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 33,796 46,310
Social security and other taxes 18,290 16,126
Other creditors 11,170 11,454
Accrued expenses 12,000 11,508
75,256 85,398

9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Preference shares 5,000,000 5,000,000
Directors loan account 16,416,202 16,130,087
21,416,202 21,130,087

10. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year - 100,000
Between one and five years - 183,333
- 283,333

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary shares 1 100 100

RENAISSANCE CAPITAL PARTNERS LIMITED (REGISTERED NUMBER: 06297129)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


12. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Paul Hodgett BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

13. Contingent liabilities

The company has agreed to provide financial support to the subsidiary companies.

14. Related party disclosures

Included within creditors falling due after 1 year is an amount of £16,416,202 (2023: £16,130,087 ) due to a director and owner that holds a participating interest. No interest is charged on the loan. Advances during the year totalled £250,885 (2023: £541,116 ) and funds introduced totalled £537,000 (2023: £1,455,647).

Included within debtors is a balance amounting to £55,221 (2023: £3,167 ) in respect of amounts due from a subsidiary company. No interest is charged on the loan which is repayable on demand.

15. Post balance sheet events

The company terminated the lease for its offices and vacated the premises on 31 July 2024.