Registration number:
Renishaw Estates Limited
for the Year Ended 31 March 2020
Renishaw Estates Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Renishaw Estates Limited
Company Information
Directors |
Lady P Sitwell Mrs A I S E Hayward |
Company secretary |
Mr T E Shuldham |
Registered office |
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Renishaw Estates Limited
(Registration number: 03410156)
Balance Sheet as at 31 March 2020
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2020 |
2019 |
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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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Net current assets |
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Net assets |
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Capital and reserves |
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Called up and fully paid 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 31 March 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge 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 has been taken.
Approved and authorised by the
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Renishaw Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
General information |
The Company is a private company limited by share capital incorporated in England and Wales. Details of the registered office are shown on page 1.
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.
Basis of preparation
These financial statements have been prepared on a going concern basis, using the historical cost convention and in accordance with FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The accounts are presented in Sterling and rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis. This assumes the continuing support of the directors and the related entities.
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 value added tax, returns, rebates and discounts and is recognised when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.
Tax
Current income tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised on timing differences between taxable profits and profits reported in the financial statements. Deferred tax is recognised on all timing differences at the reporting date and is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet 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.
Renishaw Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
2 |
Accounting policies (continued) |
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold land and buildings |
not depreciated |
Biomass boilers |
10% straight line basis |
Plant and machinery |
25% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
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 inventories 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. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Renishaw Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
2 |
Accounting policies (continued) |
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary and preference shares, which are measured at fair value provided that this can be measured reliably. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Staff numbers |
The average number of persons employed by the company (including directors) in the year, was
Tangible assets |
Freehold land and buildings |
Biomass boilers |
Plant and machinery |
Total |
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Cost |
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At 1 April 2019 |
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Additions |
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At 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
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Charge for the year |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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Renishaw Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Stocks |
2020 |
2019 |
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Wheat and OSR |
- |
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Woodchip stock |
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Debtors |
2020 |
2019 |
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Trade debtors |
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Other debtors |
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Prepayments |
7,100 |
7,967 |
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Renishaw Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Creditors |
2020 |
2019 |
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Due within one year |
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Trade creditors |
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Other creditors |
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Accrued expenses |
19,854 |
16,469 |
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Related party transactions |
Summary of transactions with other related parties
During the year, rent of £17,189 (2019: £17,189) was paid to the Trustees of Sir Reresby Sitwell Will Trust. At the balance sheet date the amount due to the Trustees of Sir Reresby Sitwell Will Trust was £Nil (2019: £Nil).
Lady P Sitwell
Director
At the balance sheet date the amount due to Lady P Sitwell was £4,250 (2019: £4,250).
Mrs A Hayward
Director
During the year rent of £17,189 (2019: £18,237) was paid to Mrs A Hayward. Other expenses recharged from Mrs A Hayward amounted to £1,653 (2019: £6,086). At the balance sheet date the amount due to Mrs A Hayward was £Nil (2019: £134).
Rent of £542 (2019: £542) was received from Mrs A Hayward during the year. Biomass sales to Mrs A Hayward amounted to £11,466 (2019 - £14,026) during the year. At the balance sheet date the amount due from Mrs A Hayward was £Nil (2019: £14,295).