Renfield Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC150916 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Renfield Enterprises Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A C G Kennedy

R Nicolson

Miss M B A Glass

F Hay

R Yorke

J Peckenson

Ms V Osso

SECRETARY:

S Kerrigan

REGISTERED OFFICE:

260 Bath Street

Glasgow

G2 4JP

REGISTERED NUMBER:

SC150916 (Scotland)

ACCOUNTANTS:

Stevenson & Kyles

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Tangible assets

4

1,590

2,120

CURRENT ASSETS

Stock

2,123

3,456

Debtors

5

10,735

9,146

Cash at bank

8,811

8,925

21,669

21,527

CREDITORS

Amounts falling due within one year

6

23,398

24,183

NET CURRENT LIABILITIES

(1,729

)

(2,656

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(139

)

(536

)

CREDITORS

Amounts falling due after more than one year

7

60,077

59,698

NET LIABILITIES

(60,216

)

(60,234

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(60,316

)

(60,334

)

SHAREHOLDERS' FUNDS

(60,216

)

(60,234

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2020 and were signed on its behalf by:

F Hay - Director

1.	STATUTORY INFORMATION

Renfield Enterprises Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold land and buildings

-

5% on cost

Fittings and equipment

-

20% on cost

Stocks

Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Fittings

land and

and

buildings

equipment

Totals

£

£

£

COST

At 1 January 2019

and 31 December 2019

77,570

9,581

87,151

DEPRECIATION

At 1 January 2019

77,570

7,461

85,031

Charge for year

-

530

530

At 31 December 2019

77,570

7,991

85,561

NET BOOK VALUE

At 31 December 2019

-

1,590

1,590

At 31 December 2018

-

2,120

2,120

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

9,336

7,747

Prepayments and accrued income

1,399

1,399

10,735

9,146

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other loans

1,060

1,590

Trade creditors

4,747

6,014

Social security and other taxes

9,691

7,679

Other creditors

7,900

8,900

23,398

24,183

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other loans - 1-2 years

-

1,060

The Renfield Centre

60,077

58,638

60,077

59,698

8.	ULTIMATE CONTROLLING PARTY