Rennie & Co (Hatton Garden) Limited - Period Ending 2021-04-30
Rennie & Co (Hatton Garden) Limited - Period Ending 2021-04-30
Registration number:
Year Ended
Rennie & Co (Hatton Garden) Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Rennie & Co (Hatton Garden) Limited
Company Information
Director |
A Rennie |
Company secretary |
L Rennie |
Registered office |
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Bankers |
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Rennie & Co (Hatton Garden) Limited
(Registration number: 03048839)
Balance Sheet as at 30 April 2021
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2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Director's Report has been taken.
Rennie & Co (Hatton Garden) Limited
(Registration number: 03048839)
Balance Sheet as at 30 April 2021
Approved and authorised by the
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A Rennie
Director
Rennie & Co (Hatton Garden) Limited
Statement of Changes in Equity
Year Ended 30 April 2021
Share capital |
Profit and loss account |
Total |
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At 1 May 2020 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 30 April 2021 |
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Share capital |
Profit and loss account |
Total |
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At 1 May 2019 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 30 April 2020 |
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Rennie & Co (Hatton Garden) Limited
Notes to the Financial Statements
Year Ended 30 April 2021
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue in the period in which services are provided and in the period in which goods are passed to the customer.
Government grants
Government grants are recognised on a systematic basis over the periods in which the related costs for which the grants are intended to compensate are recognised.
Tax
The tax expense for the period comprises current tax.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Rennie & Co (Hatton Garden) Limited
Notes to the Financial Statements
Year Ended 30 April 2021
Tangible assets
Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
25% reducing balance |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity.
Dividends
Interim dividends are recognised when paid, final dividends are recognised when approved by the members.
Rennie & Co (Hatton Garden) Limited
Notes to the Financial Statements
Year Ended 30 April 2021
Staff numbers |
The average number of persons employed by the company during the year was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 May 2020 |
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At 30 April 2021 |
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Depreciation |
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At 1 May 2020 |
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Charge for the year |
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At 30 April 2021 |
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Carrying amount |
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At 30 April 2021 |
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At 30 April 2020 |
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Debtors |
2021 |
2020 |
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Other debtors |
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Rennie & Co (Hatton Garden) Limited
Notes to the Financial Statements
Year Ended 30 April 2021
Creditors |
Note |
2021 |
2020 |
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Due within one year |
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Bank loans and overdrafts |
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- |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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- |
Loans and borrowings |
2021 |
2020 |
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Non-current loans and borrowings |
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Bank borrowings |
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- |
2021 |
2020 |
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Current loans and borrowings |
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Bank borrowings |
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- |
Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £
Rennie & Co (Hatton Garden) Limited
Notes to the Financial Statements
Year Ended 30 April 2021
Related party transactions |
Loans to related parties
2021 |
Other related parties |
At start of period and end of period |
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2020 |
Other related parties |
At start of period and end of period |
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Terms of loans to related parties