Renovare Properties Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Renovare Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12758322 . The registered office is 15 Grove Street, Bath, BA2 6PJ.

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:

Plant & Machinery	33% SL
Fixtures & Fittings	15% SL
Computer Equipment	33% SL

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. 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.

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Renovare Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost or Valuation
As at 1 April 2025	599	1,409	2,008

As at 31 March 2026	599	1,409	2,008

Depreciation
As at 1 April 2025	66	606	672
Provided during the period	263	306	569

As at 31 March 2026	329	912	1,241

Net Book Value
As at 31 March 2026	270	497	767

As at 1 April 2025	533	803	1,336

5. Investment Property

	2026
	£
Fair Value
As at 1 April 2025	980,000
Additions	314,605
Revaluations	255,395

As at 31 March 2026	1,550,000

The fair value of the company's investment properties as at 31 March 2026 was determined by the directors with reference to comparable market evidence available at the reporting date.

6. Debtors

	2026	2025
	£	£
Due within one year
Prepayments and accrued income	833	192
Other debtors	365	250
Other taxes and social security	-	1,229

	1,198	1,671

7. Current Asset Investments

	2026	2025
	£	£
Short term deposits	2,428	10,175

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Renovare Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Other taxes and social security	157	-
Other creditors	3,533	7,096
Accruals and deferred income	1,872	5,891

	5,562	12,987

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

	2026	2025
	£	£
Bank loans	1,111,446	802,548
Directors' loan account	262,722	138,383
Amounts owed to associates	134,200	156,995

	1,508,368	1,097,926

10. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

11. Post Balance Sheet Events

The company completed the purchase of Flat 4, 19 The Paragon in September 2026, after the year end of 31 March 2026 but before the financial statements were approved. This represents a non-adjusting post balance sheet event and, accordingly, no adjustments have been made to the figures reported in these financial statements.

The property acquisition will be reflected in the financial statements for the year ending 31 March 2027.

12. Related Party Transactions

Rhys Freestone

Director

Rhys Freestone has provided Renovare Properties Ltd with a loan. The balance at the year end was £74,506 (2025 £52,732). There loan is unsecured, interest free and there are no fixed repayment terms.

Aran Freestone

Director

Aran Freestone has provided Renovare Properties Ltd with a loan. The balance at the year end was £188,216 (2025 £85,650). There loan is unsecured, interest free and there are no fixed repayment terms.

Freestone Marketing Ltd

Company under common control

Freestone Marketing Ltd has provided Renovare Properties Ltd with a loan. The balance at the year end was £134,200 (2025 £135,600). There loan is unsecured, interest free and there are no fixed repayment terms.

Freestone Property Management Ltd

Company under common control

During the year, the company repaid in full the loan owed to Freestone Property Management Ltd. The balance outstanding at the year end was £0 (2025 £21,395)

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Renovare Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

13. Ultimate Controlling Party

The company's ultimate controlling party is Aran Freestone and Rhys Freestone by virtue of their ownership of 100% of the issued share capital in the company.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		767		1,336
Investment Properties	5		1,550,000		980,000

			1,550,767		981,336
CURRENT ASSETS
Debtors	6	1,198		1,671
Investments	7	2,428		10,175
Cash at bank and in hand		592		14,337

		4,218		26,183
Creditors: Amounts Falling Due Within One Year	8	(5,562 )		(12,987 )

NET CURRENT ASSETS (LIABILITIES)			(1,344 )		13,196

TOTAL ASSETS LESS CURRENT LIABILITIES			1,549,423		994,532

Creditors: Amounts Falling Due After More Than One Year	9		(1,508,368 )		(1,097,926 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(96,946 )		(48,421 )

NET LIABILITIES			(55,891 )		(151,815 )

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			(55,991 )		(151,915 )

SHAREHOLDERS' FUNDS			(55,891)		(151,815)