Company Registration No. 12470713 (England and Wales)
Renown Property Investments Limited
Unaudited accounts
for the period from 1 March 2024 to 31 December 2024
Renown Property Investments Limited
Unaudited accounts
Contents
Renown Property Investments Limited
Company Information
for the period from 1 March 2024 to 31 December 2024
Director
Sean Hendrick Zimdahl
Company Number
12470713 (England and Wales)
Registered Office
12 Grasvenor Avenue
Barnet,
Hertfordshire
EN52BZ
United Kingdom
Accountants
Lambrias & Co. Chartered Certified Accountants
12 Grasvenor Avenue
Barnet
Hertfordshire
EN52BZ
Renown Property Investments Limited
Statement of financial position
as at 31 December 2024
Investment property
7,033,480
6,603,552
Cash at bank and in hand
152,558
394,710
Creditors: amounts falling due within one year
(6,108,054)
(6,231,865)
Net current liabilities
(5,954,296)
(5,835,955)
Total assets less current liabilities
1,079,184
767,597
Provisions for liabilities
Deferred tax
(68,212)
(50,081)
Net assets
1,010,972
717,516
Called up share capital
100
100
Profit and loss account
1,010,872
717,416
Shareholders' funds
1,010,972
717,516
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 September 2025 and were signed on its behalf by
Sean Hendrick Zimdahl
Director
Company Registration No. 12470713
Renown Property Investments Limited
Notes to the Accounts
for the period from 1 March 2024 to 31 December 2024
Renown Property Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 12470713. The registered office is 12 Grasvenor Avenue, Barnet,, Hertfordshire, EN52BZ, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with Financial Reporting Standard I 02 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section I A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates and these estimates and underlying assumptions are reviewed on an ongoing basis.
The items in the financial statements where these judgements and estimates have been made are as follows:
Note 4 Investment Property
Investment Property is shown within the financial statements at 'fair value'. Fair value is measured each year by the company director and periodically by a first of suitably qualified chartered surveyors. Evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of FRS102 Section 1A and are 'true and fair'.
Turnover comprises the value of property rents receivable under operating leases, and shorthold tenancy agreements, which are credited to the profit and loss account as they fall due.
Renown Property Investments Limited
Notes to the Accounts
for the period from 1 March 2024 to 31 December 2024
Investment properties comprise freehold and 'long' leasehold properties, and are held by the company so as to both earn rental income and for capital appreciation.
Investment properties are initially measured at cost including the capitalised cost of properties acquired together with capitalised development costs to enable the property to be condition to derive income.
Investment properties are subsequently measured at fair value, with changes in the fair value under the fair value being recognised each year in the income statement. These properties are shown in the financial statements at most recent valuation.
Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the properties are sold.
The investment properties are valued annually by the director at 'open market' value, and if deemed necessary, using the services of a suitable qualified firm of chartered surveyors.
The fair value profits on investment property is not a realised profit available for distribution.
Deferred balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date,.
The recognition of deferred tax assets is limited 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments.
Renown Property Investments Limited
Notes to the Accounts
for the period from 1 March 2024 to 31 December 2024
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans and other debtors receivable are measured at fair value, net of transaction costs less any impairment.
Creditors
Short term trade creditors and other current creditors payable on demand are measured at the transaction price. Other financial liabilities are measured at fair value, net of transaction costs.
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Investment property
31/12/2024
Fair value at 1 March 2024
6,603,552
Net gain from fair value adjustments
150,225
At 31 December 2024
7,033,480
Investment Properties have been measured at "fair value" by the company director.
Investment properties held at 31.12.2024 increased in value by £150,225 over the year, (29.2.2024 dropped in value by 381,425).
Additions represent the cost of improvements done to existing properties during the year.
Addtional Costs on sale of Property - Income Statement
Amounts shown in the period to 31.12.2024 of £12,500 are in respect costs booked late for a property sold in the year to 29.2.2024 but recognised in the period to 31.12.2024
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Debtors
31/12/2024
29/02/2024
Amounts falling due within one year
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Creditors: amounts falling due within one year
31/12/2024
29/02/2024
Trade creditors
10,471
10,471
Amounts owed to group undertakings and other participating interests
104,900
274,900
Taxes and social security
42,829
-
Other creditors
22,260
19,463
Loans from directors
5,927,594
5,927,031
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Share capital
31/12/2024
29/02/2024
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Renown Property Investments Limited
Notes to the Accounts
for the period from 1 March 2024 to 31 December 2024
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Transactions with related parties
Within Creditors, amounts falling due within one year at amounts owed to the company director and ultimate controlling party of £5,923,934 (29.2.24 - £5,927,031 and an amount owed to the immediate parent, Renown Capital Limited of £104,900 (29.2.24 - £274,900).
Both Loans are unsecured, interest free and were used to provide funding to enable the company to acquire its investment property and also provide initial working capital at inception of the company's business.
Whilst these balances are repayable on demand, the company will always ensure it meets all its financial obligations as they become due before this is considered.
For the current year, the immediate and ultimate parent undertaking of the company is Renown Capital Limited, a company incorporated in England and Wales. The ultimate controlling party is Sean Hendrick Zimdahl.
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Post balance sheet events
On 2nd May 2025 the company sold one of its properties for £302,250 resulting in a loss of £121,096.
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Average number of employees
During the period the average number of employees was 1 (29/02/2024: 1).