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Registered Number: 06019023
England and Wales

 

 

 

RENWICK FLOORING LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 18,365    35,684 
18,365    35,684 
Current assets      
Stocks 5 16,341    14,876 
Debtors 6 248,200    223,455 
Cash at bank and in hand 88,833    98,233 
353,374    336,564 
Creditors: amount falling due within one year 7 (125,826)   (131,866)
Net current assets 227,548    204,698 
 
Total assets less current liabilities 245,913    240,382 
Creditors: amount falling due after more than one year 8   (11,716)
Provisions for liabilities 9 (4,592)   (8,921)
Net assets 241,321    219,745 
 

Capital and reserves
     
Called up share capital 105    104 
Profit and loss account 241,216    219,641 
Shareholders' funds 241,321    219,745 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 11 July 2025 and were signed on its behalf by:


-------------------------------
David Renwick
Director
1
General Information
Renwick Flooring Limited is a private company, limited by shares, registered in England and Wales, registration number 06019023, registration address Unit 7, Byker Business Dev Centre, Albion Row, Newcastle Upon Tyne, NE6 1LQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the going concern and historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
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, 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. 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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 25%
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 7 (2023 : 7).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2024 25,000    25,000 
Additions  
Disposals  
At 31 December 2024 25,000    25,000 
Amortisation
At 01 January 2024 25,000    25,000 
Charge for year  
On disposals  
At 31 December 2024 25,000    25,000 
Net book values
At 31 December 2024  
At 31 December 2023  


4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 January 2024 71,683    71,683 
Additions  
Disposals  
At 31 December 2024 71,683    71,683 
Depreciation
At 01 January 2024 35,999    35,999 
Charge for year 17,319    17,319 
On disposals  
At 31 December 2024 53,318    53,318 
Net book values
Closing balance as at 31 December 2024 18,365    18,365 
Opening balance as at 01 January 2024 35,684    35,684 


5.

Stocks

2024
£
  2023
£
Stocks 16,341    14,876 
16,341    14,876 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 237,684    212,115 
Prepayments & Accrued Income 2,716    3,540 
Other Debtors 7,800    7,800 
248,200    223,455 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 17,985    29,363 
Corporation Tax 35,477    17,488 
PAYE & Social Security 5,088    5,650 
Pension Control Account 271   
Accrued Expenses 2,600    2,500 
Other Creditors   26,818 
Obligations under HP/Financial Leases 13,720    15,553 
Wages & Salaries Control Account 5,275    2,455 
Directors' Current Accounts - David Renwick 6,519    37 
Directors' Current Accounts - James Renwick   482 
Shareholders' Current Accounts - Keith Carr 7,236   
VAT 31,649    31,520 
125,826    131,866 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations Under HP/Financial Leases   11,716 
  11,716 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 4,592    8,921 
4,592    8,921 

10.

Directors & shareholders advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Directors of £6,525 (2023 - £519)


11.

Disclosure of controlling party

For the whole of the period under review the company was under the control of James & David Renwick, directors of the company.

2