Regent Garage Doors & Gates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05656216 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Regent Garage Doors & Gates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R W Wort

Mrs L K Wort

SECRETARY:

Mrs L K Wort

REGISTERED OFFICE:

Leechpool Cottage

Leechpool Lane

Horsham

West Sussex

RH13 6AG

REGISTERED NUMBER:

05656216 (England and Wales)

ACCOUNTANTS:

Price Green & Co

Lynnem House

1 Victoria Way

Burgess Hill

West Sussex

RH15 9NF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,603

11,471

8,603

11,471

CURRENT ASSETS

Debtors

6

1,500

-

Cash at bank

27,071

47,213

28,571

47,213

CREDITORS

Amounts falling due within one year

7

33,038

40,396

NET CURRENT (LIABILITIES)/ASSETS

(4,467

)

6,817

TOTAL ASSETS LESS CURRENT LIABILITIES

4,136

18,288

PROVISIONS FOR LIABILITIES

1,635

2,179

NET ASSETS

2,501

16,109

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,499

16,107

SHAREHOLDERS' FUNDS

2,501

16,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2020 and were signed on its behalf by:

Mrs L K Wort - Director

1.	STATUTORY INFORMATION

Regent Garage Doors & Gates 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

25,000

AMORTISATION

At 1 January 2019

and 31 December 2019

25,000

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2019

and 31 December 2019

7,013

13,400

2,286

22,699

DEPRECIATION

At 1 January 2019

3,319

5,863

2,046

11,228

Charge for year

924

1,884

60

2,868

At 31 December 2019

4,243

7,747

2,106

14,096

NET BOOK VALUE

At 31 December 2019

2,770

5,653

180

8,603

At 31 December 2018

3,694

7,537

240

11,471

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

1,500

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

651

-

Taxation and social security

8,859

8,625

Other creditors

23,528

31,771

33,038

40,396

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £40,000 (2018 - £20,000) were paid to the directors .

Included in other creditors is £22,487 (2018: £30,731) owed to the directors.

9.	ULTIMATE CONTROLLING PARTY

The company was under the control of R W Wort and Mrs L K Wort throughout the current year and previous

period by virtue of their shareholdings.