Regent Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02328355 (England and Wales)

Regent Management Limited

Financial Statements

for the Year Ended 30 December 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D R Paul

SECRETARY:

Mrs C A Paul

REGISTERED OFFICE:

Barcroft

32 New Road

Yeadon

Leeds

West Yorkshire

LS19 7SE

REGISTERED NUMBER:

02328355 (England and Wales)

ACCOUNTANTS:

Jolliffe Cork LLP

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

16,303

20,178

Investments

5

1

1

Investment property

6

1,054,576

1,077,551

1,070,880

1,097,730

CURRENT ASSETS

Debtors

7

86,147

89,938

Cash at bank

676,140

597,218

762,287

687,156

CREDITORS

Amounts falling due within one year

8

373,530

388,892

NET CURRENT ASSETS

388,757

298,264

TOTAL ASSETS LESS CURRENT LIABILITIES

1,459,637

1,395,994

PROVISIONS FOR LIABILITIES

151,872

164,460

NET ASSETS

1,307,765

1,231,534

CAPITAL AND RESERVES

Called up share capital

9

4,000

4,000

Retained earnings

10

1,303,765

1,227,534

SHAREHOLDERS' FUNDS

1,307,765

1,231,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 20 September 2019 and were signed by:

Mr D R Paul - Director

1.	STATUTORY INFORMATION

Regent Management Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has

been rounded to the nearest (£), unless otherwise stated.

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 as modified by the revaluation of certain assets.

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.

Equipment and furniture

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Fixed assets are initially recorded at cost.

Investments in subsidiaries

Investments are initially recorded at cost with consideration taken for any diminution in value which is expected to be

permanent.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value

is recognised in profit or loss.

Fair value has been determined by the directors having taken the appropriate professional advice and based on similar

properties in the local area.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

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 7 (2017 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

and

Motor

Computer

furniture

vehicles

equipment

Totals

£

£

£

£

COST

At 31 December 2017

33,886

46,227

11,225

91,338

Additions

669

-

347

1,016

At 30 December 2018

34,555

46,227

11,572

92,354

DEPRECIATION

At 31 December 2017

30,773

29,162

11,225

71,160

Charge for year

549

4,266

76

4,891

At 30 December 2018

31,322

33,428

11,301

76,051

NET BOOK VALUE

At 30 December 2018

3,233

12,799

271

16,303

At 30 December 2017

3,113

17,065

-

20,178

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 31 December 2017

and 30 December 2018

1

NET BOOK VALUE

At 30 December 2018

1

At 30 December 2017

1

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 31 December 2017

1,077,551

Revaluations

(22,975

)

At 30 December 2018

1,054,576

NET BOOK VALUE

At 30 December 2018

1,054,576

At 30 December 2017

1,077,551

The investment property has been stated at its fair value as determined by the directors.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

23,194

15,724

Other debtors

18,887

31,497

Prepayments

44,066

42,717

86,147

89,938

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

2,130

4,914

Amounts owed to group undertakings

257,948

266,885

Corporation tax

15,267

10,147

Social security and other taxes

20,982

20,982

VAT

4,511

5,653

Other creditors

68,006

65,776

Directors' current accounts

-

9,000

Accruals and deferred income

4,686

5,535

373,530

388,892

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2018

2017

value:

£

£

4,000

Ordinary

£1

4,000

4,000

10.

RESERVES

Included within retained earnings is £647,454 (2017: £657,842) of non-distributable reserves in respect of the cumulative

fair value adjustments on the investment properties, net of deferred tax.

11.	RELATED PARTY DISCLOSURES