Renegade Developments Limited 31/08/2024 iXBRL

Company registration number: 05541780

Renegade Developments Limited

Unaudited filleted financial statements

31 August 2024

Renegade Developments Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Renegade Developments Limited

Directors and other information


	Director	Mr R F Shoesmith


	Secretary	Mrs S Shoesmith


	Company number	05541780


	Registered office	6 The Waterfront
		Station Road
		Rhosneigr
		Ynys Mon
		LL64 5AD


	Accountants	Downham Morris & Co
		45/49 Greek Street
		Stockport
		Cheshire
		Sk3 8AX




	Bankers	The Royal Bank of Scotland plc
		50 Bramhall Lane South
		Bramhall
		Stockport
		SK7 1AJ

Renegade Developments Limited

Chartered certified accountants report to the director on the preparation of the

unaudited statutory financial statements of Renegade Developments Limited

Year ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Renegade Developments Limited for the year ended 31 August 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the director of Renegade Developments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Renegade Developments Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163- jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Renegade Developments Limited and its director as a body for our work or for this report.

It is your duty to ensure that Renegade Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Renegade Developments Limited. You consider that Renegade Developments Limited 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 financial statements of Renegade Developments Limited. 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 financial statements.

Downham Morris & Co

Chartered Certified Accountants

45/49 Greek Street

Stockport

Cheshire

Sk3 8AX

23 May 2025

Renegade Developments Limited

Statement of financial position

31 August 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	403,864		403,864
		_______		_______
			403,864		403,864

Current assets
Stocks		21,838		17,105
Debtors	6	62,500		62,500
Cash at bank and in hand		2,117		-
		_______		_______
		86,455		79,605
Creditors: amounts falling due
within one year	7	( 297,208)		( 276,607)
		_______		_______
Net current liabilities			( 210,753)		( 197,002)
			_______		_______
Total assets less current liabilities			193,111		206,862

Creditors: amounts falling due
after more than one year	8		( 250,000)		( 250,000)
			_______		_______
Net liabilities			( 56,889)		( 43,138)
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			( 56,891)		( 43,140)
			_______		_______
Shareholders deficit			( 56,889)		( 43,138)
			_______		_______

For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 23 May 2025 , and are signed on behalf of the board by:

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

Mr R F Shoesmith

Director

Company registration number: 05541780

Renegade Developments Limited

Notes to the financial statements

Year ended 31 August 2024

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 6 The Waterfront, Station Road, Rhosneigr, Ynys Mon, LL64 5AD.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	At fair value
Fittings fixtures and equipment	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Freehold property	Fixtures, fittings and equipment	Total
	£	£	£
Cost
At 1 September 2023 and 31 August 2024	403,864	1,596	405,460
	_______	_______	_______
Depreciation
At 1 September 2023 and 31 August 2024	-	1,596	1,596
	_______	_______	_______
Carrying amount
At 31 August 2024	403,864	-	403,864
	_______	_______	_______
At 31 August 2023	403,864	-	403,864
	_______	_______	_______

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:


	Freehold property	Total
	£	£
At 31 August 2024
Aggregate cost	403,864	403,864
Aggregate depreciation	(16,712)	(16,712)
	_______	_______
Carrying amount	387,152	387,152
	_______	_______

At 31 August 2023
Aggregate cost	403,864	403,864
Aggregate depreciation	(10,635)	(10,635)
	_______	_______
Carrying amount	393,229	393,229
	_______	_______

6. Debtors

	2024	2023
	£	£
Other debtors	62,500	62,500
	_______	_______

The company has made loans totalling £62,500 to a UK company connected by virtue of its directorship and such loans are repayable on demand.

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	-	94
Other creditors	297,208	276,513
	_______	_______
	297,208	276,607
	_______	_______

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

	2024	2023
	£	£
Other creditors	250,000	250,000
	_______	_______

9. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	Mr R F Shoesmith	( 275,523)	( 20,695)	( 296,218)
		_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	Mr R F Shoesmith	( 269,523)	( 6,000)	( 275,523)
		_______	_______	_______

No interest is payable on loans due to and from the director and loans are repayable on demand.

10. Controlling party

The company is under the control of its director by virtue of his shareholding.