16
31/12/2020
2020-12-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2020-01-01
Sage Accounts Production 2020 Update 1 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
5152625
2020-01-01
2020-12-31
5152625
2020-12-31
5152625
2019-12-31
5152625
2019-01-01
2019-12-31
5152625
2019-12-31
5152625
2018-12-31
5152625
bus:RegisteredOffice
2020-01-01
2020-12-31
5152625
bus:LeadAgentIfApplicable
2020-01-01
2020-12-31
5152625
bus:Director1
2020-01-01
2020-12-31
5152625
bus:Director2
2020-01-01
2020-12-31
5152625
bus:Director3
2020-01-01
2020-12-31
5152625
bus:CompanySecretary1
2020-01-01
2020-12-31
5152625
core:PlantMachinery
2019-12-31
5152625
core:MotorVehicles
2019-12-31
5152625
core:PlantMachinery
2020-12-31
5152625
core:MotorVehicles
2020-12-31
5152625
core:RetainedEarningsAccumulatedLosses
2019-01-01
2019-12-31
5152625
core:ShareCapital
2020-01-01
2020-12-31
5152625
core:CapitalRedemptionReserve
2020-01-01
2020-12-31
5152625
core:RetainedEarningsAccumulatedLosses
2020-01-01
2020-12-31
5152625
core:WithinOneYear
2020-12-31
5152625
core:WithinOneYear
2019-12-31
5152625
core:AfterOneYear
2020-12-31
5152625
core:UKTax
2020-01-01
2020-12-31
5152625
core:UKTax
2019-01-01
2019-12-31
5152625
core:ShareCapital
2020-12-31
5152625
core:ShareCapital
2019-12-31
5152625
core:SharePremium
2020-12-31
5152625
core:SharePremium
2019-12-31
5152625
core:CapitalRedemptionReserve
2020-12-31
5152625
core:RetainedEarningsAccumulatedLosses
2020-12-31
5152625
core:RetainedEarningsAccumulatedLosses
2019-12-31
5152625
core:ShareCapital
2018-12-31
5152625
core:SharePremium
2018-12-31
5152625
core:RetainedEarningsAccumulatedLosses
2018-12-31
5152625
core:BetweenOneFiveYears
2020-12-31
5152625
core:PlantMachinery
2020-01-01
2020-12-31
5152625
core:MotorVehicles
2020-01-01
2020-12-31
5152625
core:PlantMachinery
2019-12-31
5152625
core:MotorVehicles
2019-12-31
5152625
bus:Director1
2020-12-31
5152625
bus:Director2
2020-12-31
5152625
bus:SmallEntities
2020-01-01
2020-12-31
5152625
bus:AuditExemptWithAccountantsReport
2020-01-01
2020-12-31
5152625
bus:FullAccounts
2020-01-01
2020-12-31
5152625
bus:SmallCompaniesRegimeForAccounts
2020-01-01
2020-12-31
5152625
bus:PrivateLimitedCompanyLtd
2020-01-01
2020-12-31
5152625
core:FurnitureFittingsToolsEquipment
2020-01-01
2020-12-31
Company registration number:
5152625
Renaissance Leadership International Limited
Unaudited filleted financial statements
31 December 2020
Renaissance Leadership International Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Renaissance Leadership International Limited
Directors and other information
|
|
|
|
|
Directors
|
Mr Anthony Willis
|
|
|
|
Mr Sebastian Kayll
|
|
|
|
Mr Shane Burgess
|
(Resigned 3 February 2021)
|
|
|
|
|
|
|
|
|
|
Secretary
|
Lesley Willis
|
|
|
|
|
|
|
|
|
|
|
Company number
|
5152625
|
|
|
|
|
|
|
|
|
|
|
Registered office
|
Orchill Chambers
|
|
|
|
34b West Street
|
|
|
|
Marlow
|
|
|
|
Buckinghamshire
|
|
|
|
SL7 2NB
|
|
|
|
|
|
|
|
|
|
|
Business address
|
Orchill Chambers
|
|
|
|
34b West Street
|
|
|
|
Marlow
|
|
|
|
Buckinghamshire
|
|
|
|
SL7 2NB
|
|
|
|
|
|
|
|
|
|
|
Accountants
|
BMS(Silchester)Limited
|
|
|
|
Brookfields
|
|
|
|
Little London Rd
|
|
|
|
Silchester
|
|
|
|
RG7 2PP
|
|
|
|
|
|
Renaissance Leadership International Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Renaissance Leadership International Limited
Year ended 31 December 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Renaissance Leadership International Limited for the year ended 31 December 2020 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
BMS(Silchester)Limited
Brookfields
Little London Rd
Silchester
RG7 2PP
30 March 2021
Renaissance Leadership International Limited
Statement of financial position
31 December 2020
|
|
|
2020
|
|
|
|
2019
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
6
|
204,591
|
|
|
|
27,621
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
204,591
|
|
|
|
27,621
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Work in Progress
|
|
|
67,700
|
|
|
|
67,388
|
|
|
Debtors
|
|
7
|
478,156
|
|
|
|
701,294
|
|
|
Cash at bank and in hand
|
|
|
1,060,820
|
|
|
|
964,412
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
1,606,676
|
|
|
|
1,733,094
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
8
|
(
987,356)
|
|
|
|
(
1,288,115)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
619,320
|
|
|
|
444,979
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
823,911
|
|
|
|
472,600
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
9
|
|
|
(
166,091)
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
36,676)
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
621,144
|
|
|
|
472,600
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
111
|
|
|
|
112
|
Share premium account
|
|
|
|
|
19,970
|
|
|
|
19,970
|
Capital redemption reserve
|
|
|
|
|
1
|
|
|
|
-
|
Profit and loss account
|
|
|
|
|
601,062
|
|
|
|
452,518
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
621,144
|
|
|
|
472,600
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 March 2021
, and are signed on behalf of the board by:
Mr Anthony Willis
Mr Sebastian Kayll
Director
Director
Company registration number:
5152625
Renaissance Leadership International Limited
Statement of changes in equity
Year ended 31 December 2020
|
|
Called up share capital
|
Share premium account
|
|
Capital redemption reserve
|
|
Profit and loss account
|
Total
|
|
|
|
|
£
|
£
|
|
£
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 January 2019
|
|
112
|
19,970
|
|
-
|
|
388,203
|
408,285
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year
|
|
|
|
|
|
|
796,315
|
796,315
|
|
|
|
|
_______
|
_______
|
|
_______
|
|
_______
|
_______
|
|
|
Total comprehensive income for the year
|
|
-
|
-
|
|
-
|
|
796,315
|
796,315
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments to Employee Ownership Trust
|
|
|
|
|
|
|
(
732,000)
|
(
732,000)
|
|
|
|
|
_______
|
_______
|
|
_______
|
|
_______
|
_______
|
|
|
Total investments by and distributions to owners
|
|
-
|
-
|
|
-
|
|
(
732,000)
|
(
732,000)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
_______
|
|
_______
|
|
_______
|
_______
|
|
|
At 31 December 2019 and 1 January 2020
|
|
112
|
19,970
|
|
-
|
|
452,518
|
472,600
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year
|
|
|
|
|
|
|
398,215
|
398,215
|
|
|
|
|
_______
|
_______
|
|
_______
|
|
_______
|
_______
|
|
|
Total comprehensive income for the year
|
|
-
|
-
|
|
-
|
|
398,215
|
398,215
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments to the Employee Ownership Trust
|
|
|
|
|
|
|
(
249,671)
|
(
249,671)
|
|
|
Redemption of shares
|
|
(
1)
|
-
|
|
1
|
|
-
|
-
|
|
|
|
|
_______
|
_______
|
|
_______
|
|
_______
|
_______
|
|
|
Total investments by and distributions to owners
|
|
(
1)
|
-
|
|
1
|
|
(
249,671)
|
(
249,671)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
_______
|
|
_______
|
|
_______
|
_______
|
|
|
At 31 December 2020
|
|
111
|
19,970
|
|
1
|
|
601,062
|
621,144
|
|
|
|
|
_______
|
_______
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Renaissance Leadership International Limited
Notes to the financial statements
Year ended 31 December 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Orchill Chambers, 34b West Street, Marlow, Buckinghamshire, SL7 2NB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and Value Added Tax. Any movement in the value of work in progress at the year end and an appropriate proportion of profit is included in the turnover figure.
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 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.
Tangible assets
Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
Fittings fixtures and equipment
|
-
|
33 %
|
|
Motor vehicles
|
-
|
33 %
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Government grants
Government grants are recognised using the accrual model. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to thecontractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Employee Ownership Trust
Where the company makes payments to the Trust where no future economic benefits will flow to the company following payment and where the company does not have control to the right or other access to the future economic benefit it is expected to receive, the payments will be included in the Changes in Equity statement shown in the accounts.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
16
(2019:
17
).
5.
Tax on profit
Major components of tax expense
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Current tax:
|
|
|
|
|
UK current tax expense
|
|
85,310
|
204,214
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Deferred tax:
|
|
|
|
|
Capital allowances in excess of depreciation
|
|
36,676
|
-
|
|
|
|
_______
|
_______
|
|
Tax on profit
|
|
121,986
|
204,214
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Reconciliation of tax expense
The tax assessed on the profit for the year is higher than (2019: higher than) the
standard rate of corporation tax in the UK
of
19.00
% (2019: 19.00%).
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Profit before taxation
|
|
520,201
|
1,000,529
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Profit multiplied by rate of tax
|
|
98,838
|
190,101
|
|
Effect of expenses not deductible for tax purposes
|
|
4,620
|
16,328
|
|
Effect of capital allowances and depreciation
|
|
(
35,568)
|
(
2,215)
|
|
Effect of revenue exempt from tax
|
|
-
|
139,080
|
|
|
|
_______
|
_______
|
|
Tax on profit
|
|
67,890
|
343,294
|
|
|
|
_______
|
_______
|
|
|
|
|
|
6.
Tangible assets
|
|
Plant and machinery
|
Motor vehicles
|
Total
|
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 January 2020
|
111,948
|
10,000
|
121,948
|
|
|
|
|
|
Additions
|
-
|
210,798
|
210,798
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2020
|
111,948
|
220,798
|
332,746
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 January 2020
|
94,327
|
-
|
94,327
|
|
|
|
|
|
Charge for the year
|
5,828
|
28,000
|
33,828
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2020
|
100,155
|
28,000
|
128,155
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 December 2020
|
11,793
|
192,798
|
204,591
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2019
|
17,621
|
10,000
|
27,621
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
138,471
|
672,258
|
|
Other debtors
|
|
339,685
|
29,036
|
|
|
|
_______
|
_______
|
|
|
|
478,156
|
701,294
|
|
|
|
_______
|
_______
|
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Trade creditors
|
|
14,895
|
20,664
|
|
Corporation tax
|
|
85,310
|
203,567
|
|
Social security and other taxes
|
|
329,319
|
169,357
|
|
Other creditors
|
|
557,832
|
894,527
|
|
|
|
_______
|
_______
|
|
|
|
987,356
|
1,288,115
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Obligations under finance leases
|
|
166,091
|
-
|
|
|
|
_______
|
_______
|
|
|
|
|
|
10.
Obligations under finance leases
Company lessee
The total future minimum lease payments under finance lease agreements are as follows:
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Not later than 1 year
|
|
42,756
|
-
|
|
Later than 1 year and not later than 5 years
|
|
166,091
|
-
|
|
|
|
_______
|
_______
|
|
|
|
208,847
|
-
|
|
|
|
_______
|
_______
|
|
Present value of minimum lease payments
|
|
208,847
|
-
|
|
|
|
_______
|
_______
|
|
|
|
|
|
11.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mr Anthony Willis
|
-
|
9,768
|
9,768
|
|
|
|
|
Mr Sebastian Kayll
|
-
|
3,348
|
3,348
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
-
|
13,116
|
13,116
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mr Anthony Willis
|
-
|
-
|
-
|
|
|
|
|
Mr Sebastian Kayll
|
-
|
-
|
-
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
12.
Related party transactions
In June 2017 Mr Willis and Mr Kyall sold their shareholdings, representing 100% of the share capital of the company, to an employee ownership traust "the EOT" for a combination of cash and deferred consideration. The company has been the guarantor of the amounts owed by the EOT to the vendor shareholders of the company. The former shareholders held a fixed charge over the company's assets until certain financial obligations relating to the payment of the deferred consideration were satisfied. The deferred consideration due to the vendor shareholdres was fully discharged as at 31 December 2020, and consequently the fixed charge has been released.
13.
Controlling party
In June 2017 all of the ordinary shares in the company were acquired by Renaissance Leadership Trustees Limited, the company set up to administer the EOT. The Directors of Renaissance Leadership Trustees Limited are therefore the ultimate controlling party of the company.
14.
Preference Shares
The £1 preference share was issued to the Director, Mr Willis , in June 2017 at the time of the EOT transaction. It may only be redeemed by the Company once the deferred consideration due to the vendorshareholders has been satisfied , as set out in the sale and purchase agreement between the EOT and the vendor shareholders. The deferred consideration due to the vendor shareholders was fully discharged as at 31 December 2020, and consequently the £1 Preference Share has now been redeemed.