Renaissance Investments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Renaissance Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03260242 . The registered office is Cound Hall Estates Office, Cound, Shropshire, SY5 6AH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% on cost
Leasehold	Over the term of the lease
Plant & Machinery	10% on cost
Motor Vehicles	25% on reducing balance
Fixtures & Fittings	10% on cost

2.4. Investment Properties

All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Renaissance Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 6)

4. Tangible Assets

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost
As at 1 April 2024	1,016,041	363,538	323,974	92,722

As at 31 March 2025	1,016,041	363,538	323,974	92,722

Depreciation
As at 1 April 2024	132,405	38,191	249,071	53,079
Provided during the period	20,320	5,456	13,149	9,910

As at 31 March 2025	152,725	43,647	262,220	62,989

Net Book Value
As at 31 March 2025	863,316	319,891	61,754	29,733

As at 1 April 2024	883,636	325,347	74,903	39,643


	Fixtures & Fittings	Total
	£	£
Cost
As at 1 April 2024	291,849	2,088,124

As at 31 March 2025	291,849	2,088,124

...CONTINUED

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Renaissance Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	267,794	740,540
Provided during the period	5,711	54,546

As at 31 March 2025	273,505	795,086

Net Book Value
As at 31 March 2025	18,344	1,293,038

As at 1 April 2024	24,055	1,347,584

5. Investment Property

	2025
	£
Fair Value
As at 1 April 2024	2,880,670
Disposals	(1,875,670 )

As at 31 March 2025	1,005,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	497,663	1,058,353

6. Stocks

	2025	2024
	£	£
Work in progress	63,177	747,004

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	7,702	6,510
Prepayments and accrued income	6,261	6,966
Other debtors	433,368	58,119
Amounts due from related company	1,374,350	1,351,020
Director's loan account	7,315	14,677
Amounts owed by group undertakings	13,740	12,922

	1,842,736	1,450,214
Due after more than one year
Corporation tax recoverable assets	3,154	8,046

	1,845,890	1,458,260

Although technically repayable on demand it is unlikely that the 'Amounts owed by group undertakings',

or 'Amounts due from related company' will be fully received within the next twelve months.

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Renaissance Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Current Asset Investments

	2025	2024
	£	£
Listed investments	181,842	410,206

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	51,637	37,432
Other taxes and social security	349	1,821
VAT	6,160	8,804
Other creditors	1,075,847	975,533
Accrued expenses and deferred income	3,199	3,200
Amounts due to related company	374,189	356,145
Whortleberry Ltd loan	1,350,000	1,350,000
Amounts owed to group undertakings	6,279,637	7,041,929

	9,141,018	9,774,864

The loan due to Whortleberry Limited is unsecured, bears interest at 4% above the Bank of England

Base Rate and has no fixed date of repayment.

Although technically repayable on demand it is unlikely that the 'Amounts owed to group undertakings'

or 'Amounts due to related company' will be fully paid within the next twelve months.

10. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	194,000	316,000

11. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2024	316,000	316,000
Reversals	(122,000 )	(122,000)

Balance at 31 March 2025	194,000	194,000

12. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

13. Contingent Liabilities

At the balance sheet date there were no known contingent liabilities other than those arising in the

normal course of business.

The company has given a cross guarantee to Handelsbanken AB in respect of loans advanced to any

members of the Renaissance Holdings Group.

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Renaissance Investments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

14. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr David Waller	14,677	-	7,362	-	7,315

The above loan is unsecured, interest free and repayable on demand. It has been repaid within 9 months of the year end.

Electricity provided to various properties owned by the company has been supplied via Mr D Waller's

domestic supply for many years. A recharge at cost has been made to the company for this usage

15. Reserves

	Revaluation reserve	Profit and Loss Account
	£	£
As at 1 April 2024	1,625,316	(4,845,800 )
Loss for year	-	(979,359)

Deficit on revaluation	(722,570)	-

Other comprehensive income for the year	(722,570 )	-

Total comprehensive income for the year	(722,570)	(979,359 )

Transfer from revaluation reserve	-	(102,254)
Transfer to/from Profit & Loss Account	102,254	-

As at 31 March 2025	1,005,000	(5,927,413 )

16. Related Party Transactions

As a wholly owned subsidiary the company has taken advantage of the exemption not to disclose intra

group transactions.

At the balance sheet date the company owed £6,167,870 (2024: £6,653,552) to fellow subsidiary

Renaissance Homes Limited .

At the balance sheet date the company owed £111,768 (2024:£388,378) to fellow subsidiary

Renaissance Property Restorations Limited.

At the balance sheet date the company was owed £13,740 (2024: £12,922) by the Ultimate Parent

Company, Renaissance Holdings Limited.

During the year the company received net funding of £18,045 (2024:£27,768) from Cound Park District

Heating Limited on normal commercial terms. At the balance sheet date the company owed Cound

Park District Heating Limited £374,189 (2024 :£356,145). David Waller is a director of Cound Park

District Heating Limited.

During the year the company provided net funding of £23,330 (2024:£22,098) on normal commercial

terms, to Riva Villa Limited. At the balance sheet date the company was owed £1,374,350 (2024:

£1,351,020) by Riva Villa Limited. David Waller and his wife are both directors and shareholders of Riva Villa Limited

17. Ultimate Controlling Party

The company's controlling party is Renaissance Holdings Limited by virtue of it's ownership of 100% of the issued share capital in the company.

The ultimate controlling party is D R Waller.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,293,038		1,347,584
Investment Properties	5		1,005,000		2,880,670

			2,298,038		4,228,254
CURRENT ASSETS
Stocks	6	63,177		747,004
Debtors	7	1,845,890		1,458,260
Investments	8	181,842		410,206
Cash at bank and in hand		23,659		26,657

		2,114,568		2,642,127
Creditors: Amounts Falling Due Within One Year	9	(9,141,018 )		(9,774,864 )

NET CURRENT ASSETS (LIABILITIES)			(7,026,450 )		(7,132,737 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(4,728,412 )		(2,904,483 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(194,000 )		(316,000 )

NET LIABILITIES			(4,922,412 )		(3,220,483 )

CAPITAL AND RESERVES
Called up share capital	12		1		1
Revaluation reserve	15		1,005,000		1,625,316
Profit and Loss Account			(5,927,413 )		(4,845,800 )

SHAREHOLDERS' FUNDS			(4,922,412)		(3,220,483)