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COMPANY REGISTRATION NUMBER: 06268657
RENNER COATINGS UK LIMITED
FILLETED FINANCIAL STATEMENTS
31 December 2024
RENNER COATINGS UK LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
142,059
114,379
CURRENT ASSETS
Stocks
966,203
919,583
Debtors
6
1,587,475
1,508,640
Cash at bank and in hand
673,963
544,919
------------
------------
3,227,641
2,973,142
CREDITORS: amounts falling due within one year
7
2,928,597
3,077,583
------------
------------
NET CURRENT ASSETS/(LIABILITIES)
299,044
( 104,441)
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
441,103
9,938
PROVISIONS
20,886
---------
-------
NET ASSETS
420,217
9,938
---------
-------
CAPITAL AND RESERVES
Called up share capital fully paid
800
800
Capital redemption reserve
200
200
Profit and loss account
419,217
8,938
---------
-------
SHAREHOLDERS FUNDS
420,217
9,938
---------
-------
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 21 May 2025 , and are signed on behalf of the board by:
Mr I Tapp
Director
Company registration number: 06268657
RENNER COATINGS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 18 Enterprise Centre, East Northants Michael Way, Warth Park, Raunds, Northamptonshire, NN9 6GR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have given due regard to the financial position of the company at the year end, at the date of signing and for a period of twelve months following this. Based on the financial position of the company the directors are satisfied that the company has sufficient resources and flexibility to be able to meet its liabilities as they fall due. Financial support is also available from the parent company if required. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Leasehold Property Improvements
-
10% straight line
Plant and Machinery
-
15% reducing balance
Fixtures and Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Computer Equipment
-
33% reducing balance
Impairment of fixed assets
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.
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 stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 18 (2023: 17 ).
5. TANGIBLE ASSETS
Leasehold property improvements
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jan 2024
130,715
48,721
44,481
20,664
244,581
Additions
31,500
20,280
51,780
--------
---------
--------
--------
--------
---------
At 31 Dec 2024
31,500
150,995
48,721
44,481
20,664
296,361
--------
---------
--------
--------
--------
---------
Depreciation
At 1 Jan 2024
69,904
38,328
9,260
12,710
130,202
Charge for the year
364
10,740
1,560
8,796
2,640
24,100
--------
---------
--------
--------
--------
---------
At 31 Dec 2024
364
80,644
39,888
18,056
15,350
154,302
--------
---------
--------
--------
--------
---------
Carrying amount
At 31 Dec 2024
31,136
70,351
8,833
26,425
5,314
142,059
--------
---------
--------
--------
--------
---------
At 31 Dec 2023
60,811
10,393
35,221
7,954
114,379
--------
---------
--------
--------
--------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
1,557,837
1,508,640
Other debtors
29,638
------------
------------
1,587,475
1,508,640
------------
------------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
89,810
38,475
Amounts owed to group undertakings and undertakings in which the company has a participating interest
2,544,895
2,789,221
Corporation tax
53,035
Social security and other taxes
219,126
227,520
Other creditors
21,731
22,367
------------
------------
2,928,597
3,077,583
------------
------------
8. EMPLOYEE BENEFITS
The amount due at the year end in respect of defined contribution plans was £1,261 (2023): £1,308
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
139,296
32,881
Later than 1 year and not later than 5 years
486,889
43,310
Later than 5 years
481,066
------------
--------
1,107,251
76,191
------------
--------
10. SUMMARY AUDIT OPINION
The auditor's report dated 21 May 2025 was unqualified .
The senior statutory auditor was David Kelland FCA , for and on behalf of Meadows & Co Limited .
11. RELATED PARTY TRANSACTIONS
Advantage has been taken of the exemption conferred by FRS102 to wholly owned subsidiary undertakings, not to disclose transactions and balances with group companies.
12. CONTROLLING PARTY
At the balance sheet date the parent company was Renner Italia S.p.A . At the balance sheet date the ultimate holding company was Renner Saylack S.A, a company incorporated in Brazil. At the balance sheet date there was no ultimate controlling party. The smallest and largest group that prepares consolidated financial statements which include the results of Renner Coatings UK Limited is headed by Renner Italia S.p.A ., a company incorporated in Italy, with the registered office address: Via Ronchi Inferiore, 34 - 40061, Minerbio (BO), Italy.