RENAISSANCE CAPITAL SERVICES LIMITED

• ⚠

  Material uncertainty over going concern

  The Company's director has assessed that material uncertainties exist as to whether the Company can continue as a going concern. The conflict in Ukraine which commenced on 24 February 2022 and subsequent economic sanctions levied against Russia has had a major impact on the revenues of both the Company's subsidiary, Rencap Securities Inc, and the Company's UK sister company, Renaissance Capital Limited and resulted in a significant restructure of both of these companies in May 2022 in order to reduce their costs to a minimum. While the possibility of a buyout by new shareholders was explored during 2023, this was ultimately decided against, and the intention is that the ultimate beneficial owner will continue to hold these Companies. The Director believes that these Companies will be able to settle their obligations and have sufficient cash reserves to cover expenditure of the next twelve months and beyond from the date of signing these financial statements. Notwithstanding this, uncertainties exist as to the continuation of these Companies as it is possible that a decision will be made to begin wind-down if these Companies are no longer viable, however this is not expected in the short-term. If this decision is made, this would also result in the wind down of Renaissance Capital Services Limited.

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -100%

  £2,242,655 → £0

• Cash

  —

  Not reported

• Net assets

  -41.9%

  £2,838,454 → £1,648,352

• Employees

  —

  Not reported

• Operating profit

  -280.3%

  £657,098 → -£1,184,870

• Profit before tax

  -281.1%

  £657,098 → -£1,190,102

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

MMBA London Ltd

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Company's director has assessed that material uncertainties exist as to whether the Company can continue as a going concern. The conflict in Ukraine which commenced on 24 February 2022 and subsequent economic sanctions levied against Russia has had a major impact on the revenues of both the Company's subsidiary, Rencap Securities Inc, and the Company's UK sister company, Renaissance Capital Limited and resulted in a significant restructure of both of these companies in May 2022 in order to reduce their costs to a minimum. While the possibility of a buyout by new shareholders was explored during 2023, this was ultimately decided against, and the intention is that the ultimate beneficial owner will continue to hold these Companies. The Director believes that these Companies will be able to settle their obligations and have sufficient cash reserves to cover expenditure of the next twelve months and beyond from the date of signing these financial statements. Notwithstanding this, uncertainties exist as to the continuation of these Companies as it is possible that a decision will be made to begin wind-down if these Companies are no longer viable, however this is not expected in the short-term. If this decision is made, this would also result in the wind down of Renaissance Capital Services Limited.”

Group structure

1. RENAISSANCE CAPITAL SERVICES LIMITED · parent
   1. RenCap Securities Inc. 100% · United States of America · US broker dealer

Significant events

• “The conflict in Ukraine which commenced in February 2022 and subsequent economic sanctions against Russia has had a major impact on the revenues of both the Company's subsidiary, Rencap Securities Inc, and the Company's UK sister company, Renaissance Capital Limited and resulted in a significant restructure of both of these companies in May 2022 in order to reduce their costs to a minimum.”
• “While the possibility of a buyout by new shareholders was explored during 2023, this was ultimately decided against, and the intention is that the ultimate beneficial owner will continue to hold these Companies.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.