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REGISTERED NUMBER: SC241320 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Rural Renaissance Limited

Rural Renaissance Limited (Registered number: SC241320)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rural Renaissance Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr Michael John Crawford
Mrs Deborah Crawford
Mr Donald John Crawford





REGISTERED OFFICE: Priorwood House
High Road
Melrose
TD6 9EF





REGISTERED NUMBER: SC241320 (Scotland)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Rural Renaissance Limited (Registered number: SC241320)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 13,117 23,887
Investments 5 24 310,151
Investment property 6 9,894 19,668
23,035 353,706

CURRENT ASSETS
Inventories 292,088 2,555,084
Debtors 7 925,006 13,341,673
Cash at bank and in hand 124,316 50,505
1,341,410 15,947,262
CREDITORS
Amounts falling due within one year 8 2,655,299 15,407,293
NET CURRENT (LIABILITIES)/ASSETS (1,313,889 ) 539,969
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,290,854

)

893,675

CREDITORS
Amounts falling due after more than one
year

9

12,500

514,656
NET (LIABILITIES)/ASSETS (1,303,354 ) 379,019

CAPITAL AND RESERVES
Called up share capital 303,151 303,151
Retained earnings (1,606,505 ) 75,868
SHAREHOLDERS' FUNDS (1,303,354 ) 379,019

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Rural Renaissance Limited (Registered number: SC241320)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





Mr Michael John Crawford - Director


Rural Renaissance Limited (Registered number: SC241320)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Rural Renaissance Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Going Concern
The directors have made an assessment of the company's ability to continue as a going concern, with special consideration of the impact on the liquidation of the main contractor. The directors monitor cash flow on a daily basis and review financial forecasts and cash flow projections.
In the opinion of the directors it remains appropriate to prepare the financial statements on a going concern basis.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - Straight line over 5 years
Computer equipment - Straight line over 5 years

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Rural Renaissance Limited (Registered number: SC241320)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

Rural Renaissance Limited (Registered number: SC241320)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 72,832
DEPRECIATION
At 1 April 2023 48,945
Charge for year 10,770
At 31 March 2024 59,715
NET BOOK VALUE
At 31 March 2024 13,117
At 31 March 2023 23,887

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 39,350
DEPRECIATION
At 1 April 2023 18,363
Charge for year 7,870
At 31 March 2024 26,233
NET BOOK VALUE
At 31 March 2024 13,117
At 31 March 2023 20,987

Rural Renaissance Limited (Registered number: SC241320)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in joint
undertakings venture Totals
£    £    £   
COST
At 1 April 2023 310,151 - 310,151
Additions - 24 24
Impairments (310,151 ) - (310,151 )
At 31 March 2024 - 24 24
NET BOOK VALUE
At 31 March 2024 - 24 24
At 31 March 2023 310,151 - 310,151

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 19,668
Disposals (9,774 )
At 31 March 2024 9,894
NET BOOK VALUE
At 31 March 2024 9,894
At 31 March 2023 19,668

7. DEBTORS
31/3/24 31/3/23
£    £   
Amounts falling due within one year:
Trade debtors 165,840 121,967
Amounts owed by group undertakings - 11,510,601
Amounts owed by participating interests - 258,335
Amounts owed by joint ventures - 411,392
Other debtors 49,852 1,039,378
215,692 13,341,673

Amounts falling due after more than one year:
Amounts owed by joint ventures 709,314 -

Aggregate amounts 925,006 13,341,673

Rural Renaissance Limited (Registered number: SC241320)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 667,795 2,381,781
Hire purchase contracts (see note 10) 6,231 9,346
Trade creditors 216,482 159,783
Amounts owed to group undertakings - 209,532
Amounts owed to joint ventures 156,973 -
Taxation and social security 38,271 26,025
Other creditors 1,569,547 12,620,826
2,655,299 15,407,293

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 12,500 22,500
Hire purchase contracts (see note 10) - 6,230
Other creditors - 485,926
12,500 514,656

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31/3/24 31/3/23
£    £   
Net obligations repayable:
Within one year 6,231 9,346
Between one and five years - 6,230
6,231 15,576

11. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Bank loans 680,295 2,404,281
Other loans 485,926 485,926
1,166,221 2,890,207

The Bank of Scotland plc has a floating charge covering all property or undertakings of the company and several charges covering land owned by the company.

The Scottish Ministers have a charge against land owned by the company that contains a negative pledge.