Rannerlow Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02672603

Rannerlow Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Rannerlow Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5	15,300,120	12,039,781
Investments	6	75	2,879,741
		-------------	-------------
		15,300,195	14,919,522

Current assets

Debtors: due within one year	7	269,651	112,079
Cash at bank and in hand		147,230	93,787
		---------	---------
		416,881	205,866

Creditors: amounts falling due within one year	8	1,476,431		598,460
		------------		---------
Net current liabilities			1,059,550		392,594
			-------------		-------------
Total assets less current liabilities			14,240,645		14,526,928

Creditors: amounts falling due after more than one year	9		2,734,491		3,687,728

Provisions

Taxation including deferred tax	564,551	281,687
	-------------	-------------
Net assets	10,941,603	10,557,513
	-------------	-------------

Capital and reserves

Called up share capital	825,000	825,000
Share premium account	103,266	103,266
Non-distributable revaluation reserve	2,505,869	1,850,562
Profit and loss account	7,507,468	7,778,685
	-------------	-------------
Shareholders funds	10,941,603	10,557,513
	-------------	-------------

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.

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 .

Rannerlow Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 7 December 2025 , and are signed on behalf of the board by:

Mr R A D Bateson BSc (Hons) NDA

Director

Company registration number: 02672603

Rannerlow 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 and Wales. The address of the registered office is High Gilbrea Cottage, High Lorton, Cockermouth, CA13 9TX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit and loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

The turnover shown in the profit and loss account represents rent receivable, and other associated income receivable, during the year, exclusive of Value Added Tax and discounts and other incentives provided.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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:

	Fixtures and fittings	-	25% straight line

Investment property

Investment properties are shown at fair value. The gain or loss arising from the annual revaluation is recognised through profit and loss, with any unrealised gains at the balance sheet date being subsequently transferred to a separate non-distributable revaluation reserve.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted nil (2024: nil).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost or valuation
At 1 April 2024	12,039,000	8,007	12,047,007
Additions	3,050,000	–	3,050,000
Disposals	( 125,000)	–	( 125,000)
Revaluations	336,000	–	336,000
	-------------	-------	-------------
At 31 March 2025	15,300,000	8,007	15,308,007
	-------------	-------	-------------
Depreciation
At 1 April 2024	–	7,226	7,226
Charge for the year	–	661	661
	-------------	-------	-------------
At 31 March 2025	–	7,887	7,887
	-------------	-------	-------------
Carrying amount
At 31 March 2025	15,300,000	120	15,300,120
	-------------	-------	-------------
At 31 March 2024	12,039,000	781	12,039,781
	-------------	-------	-------------

Land and buildings comprise of investment properties and have been valued at open market value as at the balance sheet date based on the directors' best estimates after taking into consideration professional and independent bank and property agents valuations. The historical cost of freehold investment properties is £12,559,534 (2024: £9,997,681).

6. Investments

	Shares in group undertakings	Loans to group undertakings	Total
	£	£	£
Cost
At 1 April 2024	75	4,924,720	4,924,795
Advances in the year	–	99,556	99,556
Repayment	–	( 3,050,001)	( 3,050,001)
	----	------------	------------
At 31 March 2025	75	1,974,275	1,974,350
	----	------------	------------
Impairment
At 1 April 2024	–	2,045,054	2,045,054
Reversal of impairment losses	–	( 70,779)	( 70,779)
	----	------------	------------
At 31 March 2025	–	1,974,275	1,974,275
	----	------------	------------

Carrying amount
At 31 March 2025	75	–	75
	----	------------	------------
At 31 March 2024	75	2,879,666	2,879,741
	----	------------	------------

The company owns 75 Ordinary A shares in Baker Street Properties Limited.

During the prior year the loan to Baker Street Properties Limited was impaired by the net liability position of the company's balance sheet being £289,619. During the current year, an impairment reversal of £70,779 has been recognised following part repayment of the loan balance. The outstanding loan balance has been fully provided against.

7. Debtors

Debtors falling due within one year are as follows:

	2025	2024
	£	£
Trade debtors	10,726	55,128
Other debtors	258,925	56,951
	---------	---------
	269,651	112,079
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans	928,523	250,000
Trade creditors	100,557	65,868
Social security and other taxes	8,588	8,982
Other creditors	438,763	273,610
	------------	---------
	1,476,431	598,460
	------------	---------

The bank loans are secured on assets of the company. Other creditors above includes deferred income of £125,343 (2024: £95,480)

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans	2,734,491	3,687,728
	------------	------------

The bank loans are secured on assets of the company.

10. Events after the end of the reporting period

Included in creditors due within one year is an amount of £928,523 relating to long term loans that are due to be refinanced within 12 months of the balance sheet date. A further £2,176,491 has been refinanced post year end and is reflected in the balance sheet as at 31 March 2025 in accordance with the terms of the post year end refinancing agreement. Of the total loan amount refinanced, £100,000 is due within 12 months of the balance sheet date.

11. Directors' advances, credits and guarantees

During the year the company continued to operate loan accounts with the directors.

	2025	2024
	£	£
Advances	3,757	–
Repayments	2,075	6,576
Balance owed to the company	1,682	–

	2025	2024
	£	£
Advances	3,757	–
Repayments	2,075	6,576
Balance owed to the company	1,682	–

12. Related party transactions

During the year the company made loans to and paid expenses on behalf of its subsidiary company, Baker Street Properties Limited, amounting to £99,556 (2024: £47,317). The balance owed from Baker Street Properties Limited as at the balance sheet date is £1,974,275 (2024: £4,924,720) including all interest charged on the loan balance to date. Following part repayment of the loan balance, an impairment reversal of £70,779 has been recognised during the year. The loan balance is not repayable until at least 1 April 2026 and has been included as part of the fixed asset investment in the subsidiary company. No interest has been charged on this loan balance during the current or previous year.