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Registration number: SC757245

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Treasured Renovations and Lets Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Treasured Renovations and Lets Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

Treasured Renovations and Lets Ltd

Company Information

Directors

Paul Mollins

Leigh-Anne Blair

Registered office

22 Fisher Road
Bathgate
EH48 2QJ

Bankers

Tide
5th Floor
1 Appold Street
London
EC2A 2UT

Accountants

RGA Scotland Limited Chartered Accountants
Orchardlea
Callander
FK17 8BG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Treasured Renovations and Lets Ltd
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Treasured Renovations and Lets Ltd for the year ended 30 November 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
 

This report is made solely to the Board of Directors of Treasured Renovations and Lets Ltd , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Treasured Renovations and Lets Ltd and state those matters that we have agreed to state to the Board of Directors of Treasured Renovations and Lets Ltd, as a body, in this report.

This is in accordance with the requirements of the ACCA and, to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Treasured Renovations and Lets Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Treasured Renovations and Lets Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Treasured Renovations and Lets Ltd. You consider that Treasured Renovations and Lets Ltd is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of Treasured Renovations and Lets Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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....................................................................

RGA Scotland Limited
Chartered Accountants
Orchardlea
Callander
FK17 8BG


 

7 May 2025

 

Treasured Renovations and Lets Ltd

(Registration number: SC757245)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

180,394

79,125

Current assets

 

Cash at bank and in hand

 

5,513

93

Creditors: Amounts falling due within one year

6

(184,995)

(90,369)

Net current liabilities

 

(179,482)

(90,276)

Net assets/(liabilities)

 

912

(11,151)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

812

(11,251)

Shareholders' funds/(deficit)

 

912

(11,151)

For the financial year ending 30 November 2024 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 and 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 7 May 2025 and signed on its behalf by:
 

.........................................
Paul Mollins
Director

 

Treasured Renovations and Lets Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
22 Fisher Road
Bathgate
EH48 2QJ

These financial statements were authorised for issue by the Board on 7 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Treasured Renovations and Lets Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold residential property

No depreication yet considered necessary

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

158

-

 

Treasured Renovations and Lets Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2023

78,967

158

79,125

Additions

180,394

-

180,394

Disposals

(78,967)

-

(78,967)

At 30 November 2024

180,394

158

180,552

Depreciation

Charge for the year

-

158

158

At 30 November 2024

-

158

158

Carrying amount

At 30 November 2024

180,394

-

180,394

At 30 November 2023

78,967

158

79,125

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

3,244

2,069

Taxation and social security

 

(1,406)

(1,701)

Accruals and deferred income

 

1,300

-

Other creditors

 

181,857

90,001

 

184,995

90,369

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Treasured Renovations and Lets Ltd

Notes to the Financial Statements for the Year Ended 30 November 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Director current account

3,244

2,069