REGAL PARK PROPERTY COMPANY LIMITED

Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of REGAL PARK PROPERTY COMPANY LIMITED for the year ended 31 January 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of REGAL PARK PROPERTY COMPANY LIMITED for the year ended 31 January 2020 as set out on pages 5 - 9 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of REGAL PARK PROPERTY COMPANY LIMITED, as a body, in accordance with the terms of our engagement letter dated 8 February 2018. Our work has been undertaken solely to prepare for your approval the accounts of REGAL PARK PROPERTY COMPANY LIMITED and state those matters that we have agreed to state to the Board of Directors of REGAL PARK PROPERTY COMPANY LIMITED, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than REGAL PARK PROPERTY COMPANY LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that REGAL PARK PROPERTY COMPANY LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of REGAL PARK PROPERTY COMPANY LIMITED. You consider that REGAL PARK PROPERTY COMPANY LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of REGAL PARK PROPERTY COMPANY LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

LeeP Accountants Chartered Accountants Unit 3F Forward HouseAston Business Park Shrewsbury Avenue, Woodston Peterborough Cambridgeshire PE2 7EY 16 March 2020

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REGAL PARK PROPERTY COMPANY LIMITED Statement of financial position as at 31 January 2020

2020

2019

Notes

Fixed assets

Intangible assets

182

Tangible assets

1,214

3,722

Investments

202

1,416

4,106

Current assets

Debtors

19,483

25,091

Cash at bank and in hand

4,412

20,559

23,895

45,650

Creditors: amounts falling due within one year

(85,183)

(48,255)

Net current liabilities

(61,288)

(2,605)

Total assets less current liabilities

(59,872)

1,501

Creditors: amounts falling due after more than one year

(24,016)

Provisions for liabilities

Deferred tax

(231)

(335)

Other provisions

(705)

(231)

(1,040)

Net liabilities

(60,103)

(23,555)

Capital and reserves

Called up share capital

100

Profit and loss account

(60,203)

(23,655)

Shareholders' funds

(60,103)

(23,555)

For the year ending 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.

Approved by the Board on 16 March 2020.

JAMES JOSEPH TRIGG Director Company Registration No. 08871678

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REGAL PARK PROPERTY COMPANY LIMITED Notes to the Accounts for the year ended 31 January 2020

Statutory information

REGAL PARK PROPERTY COMPANY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08871678. The registered office is 7 OFFICE VILLAGE, CYGNET PARK, PETERBOROUGH, PE7 8GX, United Kingdom.

Compliance with accounting standards

The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.

Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Basis of preparation

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Presentation currency

The accounts are presented in £ sterling.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets and depreciation

Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Fixtures & fittings

120 months

Computer equipment

36 months

Intangible fixed assets

Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.

Deferred taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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REGAL PARK PROPERTY COMPANY LIMITED Notes to the Accounts for the year ended 31 January 2020

Intangible fixed assets

Other

Cost

At 1 February 2019

578

At 31 January 2020

578

Amortisation

At 1 February 2019

396

Charge for the year

182

At 31 January 2020

578

Net book value

At 31 January 2020

At 31 January 2019

182

Intangible assets relates to capitalised rights to private vehicle plates

Tangible fixed assets

Fixtures & fittings

Computer equipment

Total

Cost or valuation

At cost

At 1 February 2019

618

11,602

12,220

At 31 January 2020

618

11,602

12,220

Depreciation

At 1 February 2019

105

8,393

8,498

Charge for the year

2,447

2,508

At 31 January 2020

166

10,840

11,006

Net book value

At 31 January 2020

452

762

1,214

At 31 January 2019

513

3,209

3,722

Investments

Subsidiary undertakings

Valuation at 1 February 2019

202

Valuation at 31 January 2020

202

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

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REGAL PARK PROPERTY COMPANY LIMITED Notes to the Accounts for the year ended 31 January 2020

Debtors

2020

2019

Trade debtors

9,683

10,932

Amounts due from group undertakings etc.

7,180

10,887

Accrued income and prepayments

2,620

3,272

19,483

25,091

Creditors: amounts falling due within one year

2020

2019

Bank loans and overdrafts

25,017

18,124

Trade creditors

2,439

8,206

Amounts owed to group undertakings and other participating interests

5,216

2,933

Taxes and social security

28,672

14,829

Other creditors

23,393

3,801

Loans from directors

Accruals

362

85,183

48,255

Creditors: amounts falling due after more than one year

2020

2019

Bank loans

24,016

Deferred taxation

2020

2019

Accelerated capital allowances

231

335

2020

2019

Provision at start of year

335

(Credited)/charged to the profit and loss account

(104)

335

Provision at end of year

231

335

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REGAL PARK PROPERTY COMPANY LIMITED Notes to the Accounts for the year ended 31 January 2020

Provisions for liabilities

At 1 February 2019

705

Provisions used

(705)

At 31 January 2020

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Operating lease commitments

2020

2019

At 31 January 2020 the company has commitments under non-cancellable operating leases as follows:

Operating leases expiring:

Within one year

382

Transactions with related parties

The company made interest free loans during the year to wholly owned subsidiaries and at the year end the outstanding balances owed by these companies were: Regal Park Financial Ltd £9,312 (2018: £17,812) Regal Park Sales Ltd £275 (2018: £215) Regal Park Publishing £1,300 The company owed £2,933 to Regal Park Property Management, a wholly owned subsidiary, at the year end.

Average number of employees

During the year the average number of employees was 4 (2019: 5).

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