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Company registration number: 11252634
Renton Highlaws Limited
Unaudited filleted financial statements
31 March 2025
Renton Highlaws Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 673,239 620,579
_______ _______
673,239 620,579
Current assets
Stocks 440,578 424,678
Debtors 6 33,159 14,198
Cash at bank and in hand 19,938 11,842
_______ _______
493,675 450,718
Creditors: amounts falling due
within one year 7 ( 571,158) ( 609,466)
_______ _______
Net current liabilities ( 77,483) ( 158,748)
_______ _______
Total assets less current liabilities 595,756 461,831
Creditors: amounts falling due
after more than one year 8 ( 220,417) ( 203,094)
Provisions for liabilities ( 100,000) ( 86,000)
_______ _______
Net assets 275,339 172,737
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 275,239 172,637
_______ _______
Shareholders funds 275,339 172,737
_______ _______
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge 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 04 July 2025 , and are signed on behalf of the board by:
Mrs A E Renton
Director
Company registration number: 11252634
Renton Highlaws Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is High Highlaws, Morpeth, Northumberland, NE61 3DD.
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.The financial statements are prepared in sterling, which is the functional currency of the entity, and are rounded to the nearest £1.
Turnover
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.
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.
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.
Tangible assets
Tangible assets are initially recorded at cost, and are 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:
Land - Not depreciated.
Plant and machinery - 10% - 33% straight line
Motor vehicles - 25 % straight line
Shed - 2 % straight line
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.
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 in finance costs in profit or loss in the period it arises.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tangible assets
Freehold property Plant and machinery Motor vehicles Shed Total
£ £ £ £ £
Cost
At 1 April 2024 202,609 591,648 41,200 81,440 916,897
Additions - 114,255 27,800 - 142,055
Disposals - ( 34,450) ( 20,500) - ( 54,950)
_______ _______ _______ _______ _______
At 31 March 2025 202,609 671,453 48,500 81,440 1,004,002
_______ _______ _______ _______ _______
Depreciation
At 1 April 2024 - 253,338 33,200 9,780 296,318
Charge for the year - 59,925 3,600 1,630 65,155
Disposals - ( 14,210) ( 16,500) - ( 30,710)
_______ _______ _______ _______ _______
At 31 March 2025 - 299,053 20,300 11,410 330,763
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2025 202,609 372,400 28,200 70,030 673,239
_______ _______ _______ _______ _______
At 31 March 2024 202,609 338,310 8,000 71,660 620,579
_______ _______ _______ _______ _______
Freehold property all relates to land purchased. Land is not depreciated .
6. Debtors
2025 2024
£ £
Trade debtors 24,560 3,465
Other debtors 8,599 10,733
_______ _______
33,159 14,198
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 10,439 10,182
Trade creditors 28,644 23,194
Corporation tax 17,130 13,624
Social security and other taxes 123 347
Other creditors 514,822 562,119
_______ _______
571,158 609,466
_______ _______
Obligations under hire purchase and finance lease amounting to £13,882 (2024 £41,667) is secured on the asset the agreements relate to.
The bank loan due within one year of £10,439 (2024 £10,182) is a Government backed bounce back loan. Interest of 2.5% was charged during the year.
8. Creditors: amounts falling due after more than one year
2025 2024
£ £
Bank loans and overdrafts 192,654 203,094
Other creditors 27,763 -
_______ _______
220,417 203,094
_______ _______
Included within creditors: amounts falling due after more than one year is an amount of £ 190,000 (2024 £ 190,000 ) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
The bank loan amounting to £190,000 (2024 £203,000) is an interest only loan with the pricipal to be repaid on 29th January 2030, and is secured on the land purchased. The interest charged during the year was 7.44% to 8.19% (2024 6.94% to 8.19%). The bank loan due in more than one year of £2,654 (2024 £13,094) is a Government backed bounce back loan Interest of 2.5% was charged during the year. Obligations under hire purchase and finance lease amounting to £27,763 (2024 £-) is secured on the asset the agreement relates to.
9. Controlling party
There is no overall controlling party of the company as there are no majority shareholders.