Corvette Rengen Whiteladies Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 14512124

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		4,325,000		3,222,485

			4,325,000		3,222,485
CURRENT ASSETS
Debtors	5	220,338		234,466
Cash at bank and in hand		308		66,010

		220,646		300,476
Creditors: Amounts Falling Due Within One Year	6	(47,412 )		(2,783,676 )

NET CURRENT ASSETS (LIABILITIES)			173,234		(2,483,200 )

TOTAL ASSETS LESS CURRENT LIABILITIES			4,498,234		739,285

Creditors: Amounts Falling Due After More Than One Year	7		(3,775,191 )		(843,368 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(273,265 )		-

NET ASSETS/(LIABILITIES)			449,778		(104,083 )

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			449,777		(104,084 )

SHAREHOLDERS' FUNDS			449,778		(104,083)

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Corvette Rengen Whiteladies Limited

Balance Sheet (continued)

As At 31 March 2025

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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

R I Lewis

Director

1 June 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Corvette Rengen Whiteladies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14512124 . The registered office is 4 Argyle Street, Bath, BA2 4BA.

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. 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.

2.4. 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.

...CONTINUED

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Corvette Rengen Whiteladies Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.4. Taxation - continued

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: NIL (2024: NIL)

4. Investment Property

	2025
	£
Fair Value
As at 1 April 2024	3,222,485
Additions	9,454
Fair value adjustments	1,093,061

As at 31 March 2025	4,325,000

The property was valued on an open market basis on 31 March 2025 by the directors.

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,472	-
Amounts owed by group undertakings	175,043	175,042
Amounts owed by participating interests	4,931	59,424
Other debtors	37,892	-

	220,338	234,466

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	10,955	20,376
Bank loans and overdrafts	-	2,756,342
Other creditors	36,457	6,958

	47,412	2,783,676

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Corvette Rengen Whiteladies Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	2,897,614	-
Amounts owed to group undertakings	877,577	843,368

	3,775,191	843,368

8. Secured Creditors

Of the creditors the following amounts are secured.

The bank loan is secured by a fixed and floating charge over the assets of the property.

The company is a member of the of the Corvette Rengen Holdings Limited group of companies. There are cross guarantees in place with the other members of the group providing security for the bank borrowings of the respective members of the group. Similarly the other members of the group have provided security for the bank loans of Corvette Rengen Whiteladies Limited.

The amount included under 'other creditors' is secured by a fixed charge over the investment property.

	2025	2024
	£	£
Bank loans and overdrafts	2,897,614	2,756,352
Other Creditors	877,577	843,368

9. Share Capital

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

10. Related Party Transactions

R I Lewis, a director of Corvette Rengen Whiteladies Limited, is also a director of Corvette Rengen Redcliff Limited. At the year end Corvette Rengen Redcliff Limited owed the company £ 175,043 (2024: £174,042).

The director R I Lewis is also a director of Iesis Lettings and Management Limited. At the year end Iesis Lettings and Management Limited owed the company £4,931 (2024: £59,424).

Corvette Rengen Whiteladies Limited is a subsidiary of Corvette Rengen Holdings Limited. At the year end the company owed £877,577 (2024: £843.368) to Corvette Rengen Holdings Limited.

11. Ultimate Controlling Party

The company is owned by Corvette Rengen Holdings Limited, which is in turn jointly owned by Siena Group Limited and Franove Holdings Limited. R I Lewis, a director of the company, is the sole shareholder of Siena Group Limited.

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