REGISTERED NUMBER: SC583190 (Scotland)

Financial Statements

for the Year Ended 30 November 2024

for

Renewatec Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Milne

SECRETARY:

Mrs J Milne

REGISTERED OFFICE:

Radleigh House Golf Road

Clarkston

Glasgow

G76 7HU

REGISTERED NUMBER:

SC583190 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Tangible assets

3

33,377

42,502

CURRENT ASSETS

Debtors

4

51,061

51,956

Cash at bank

8,803

12,687

59,864

64,643

CREDITORS

Amounts falling due within one year

5

36,542

40,695

NET CURRENT ASSETS

23,322

23,948

TOTAL ASSETS LESS CURRENT LIABILITIES

56,699

66,450

CREDITORS

Amounts falling due after more than one year

6

(30,560

)

(40,327

)

PROVISIONS FOR LIABILITIES

(8,344

)

(8,075

)

NET ASSETS

17,795

18,048

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

17,793

18,046

SHAREHOLDERS' FUNDS

17,795

18,048

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 4 April 2025 and were signed by:

D Milne - Director

1.	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.

Going concern

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue

Revenue represents the amounts received from Engineering services provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2023

5,587

302

43,350

-

49,239

Additions

-

-

-

1,440

1,440

At 30 November 2024

5,587

302

43,350

1,440

50,679

DEPRECIATION

At 1 December 2023

2,108

113

4,516

-

6,737

Charge for year

696

28

9,708

133

10,565

At 30 November 2024

2,804

141

14,224

133

17,302

NET BOOK VALUE

At 30 November 2024

2,783

161

29,126

1,307

33,377

At 30 November 2023

3,479

189

38,834

-

42,502

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

51,061

51,956

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

2,576

2,576

Hire purchase contracts

7,192

7,192

Taxation and social security

24,772

28,925

Other creditors

2,002

2,002

36,542

40,695

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

4,190

6,766

Hire purchase contracts

26,370

33,561

30,560

40,327

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary A Shares

£1

1

1

1

Ordinary B Shares

£1

1

1

2

2