ACCOUNTS - Final Accounts preparation

Registered number: 15566838

R.N.C. HOLDCO LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

R.N.C. HOLDCO LIMITED

COMPANY INFORMATION

Directors	R N Crossley (appointed 16 March 2024)
	A C Y Crossley (appointed 16 March 2024)


Registered number	15566838


Registered office	3rd Floor
	12 Gough Square
	London
	EC4A 3DW

R.N.C. HOLDCO LIMITED

REGISTERED NUMBER: 15566838

BALANCE SHEET

AS AT 30 SEPTEMBER 2024

		2024
Note		£

Fixed assets
Investments	4		100
Investment property			1,355,780
			1,355,880
Current assets
Debtors: amounts falling due within one year	6	5,500
Cash at bank and in hand		3,427
		8,927
Creditors: amounts falling due within one year	7	(503,933)
Net current (liabilities)/assets			(495,006)
Total assets less current liabilities			860,874
Creditors: amounts falling due after more than one year	8		(615,407)

Net assets			245,467

Capital and reserves
Called up share capital			100
Profit and loss account			245,367
			245,467

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R.N.C. HOLDCO LIMITED

REGISTERED NUMBER: 15566838

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 March 2025.

A C Y Crossley

Director

The notes on pages 3 to 8 form part of these financial statements.

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R.N.C. HOLDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.	General information

R.N.C. Holdco Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office is 3rd Floor, 12 Gough Square, London, EC4A 3DW. The company was incorporated on 16 March 2024 and has made up accounts for a short period to 30 September 2024 to align with its subsidiary.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

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R.N.C. HOLDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Employees

The average monthly number of employees, including the directors, during the period was as follows:

			Period from 16 March 2024 to 30 September 2024
			No.

		Directors	2

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R.N.C. HOLDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	Additions	100
	At 30 September 2024	100

5.	Investment property

		Freehold investment property
		£
	Valuation
	Additions at cost	1,355,780
	At 30 September 2024	1,355,780

The 2024 valuations were made by the Directors, on an open market value for existing use basis.

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R.N.C. HOLDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Debtors

					2024
					£


	Amounts owed by group undertakings	5,500
		5,500

7.	Creditors: Amounts falling due within one year
		2024
		£

	Bank loan	23,392
	Other creditors	477,041
	Accruals and deferred income	3,500
		503,933

8.	Creditors: Amounts falling due after more than one year
		2024
		£

	Bank loan	615,407
		615,407

	The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
					2024
					£

	Repayable by instalments	521,841
		521,841

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R.N.C. HOLDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

9.	Loans
	Analysis of the maturity of loans is given below:
		2024
		£

	Amounts falling due within one year
	Bank loan	23,392
		23,392

	Amounts falling due 2-5 years
	Bank loan	93,566
		93,566
	Amounts falling due after more than 5 years
	Bank loan	521,841
		521,841
		638,799

The bank loan of £638,799 is secured by way of a fixed and floating charge over the company's fixed assets.

10.	Share capital
		2024
		£

		Allotted, called up and fully paid

		38 Ordinary A shares of £1.00 each	38
		38 Ordinary B shares of £1.00 each	38
		8 Ordinary C shares of £1.00 each	8
		8 Ordinary D shares of £1.00 each	8
		8 Ordinary E shares of £1.00 each	8

			100

On 16 March 2024 the Company issued 2 £1 shares at par. During the period the company issued a further 98 £1 shares at par.

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R.N.C. HOLDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

11.	Related party transactions
	The company operates a director's loan account with the directors. At the balance sheet date the company owed the directors £477,042. The amount is interest free and payable on demand.

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