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 2021

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:

The North Chapel

Ashlands Road

Ilkley

West Yorkshire

LS29 8JT

REGISTERED NUMBER:

02328355 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

2,262

2,905

Investments

5

1

1

2,263

2,906

CURRENT ASSETS

Debtors

6

852,932

916,688

Cash at bank

559,839

453,404

1,412,771

1,370,092

CREDITORS

Amounts falling due within one year

7

110,794

102,766

NET CURRENT ASSETS

1,301,977

1,267,326

TOTAL ASSETS LESS CURRENT LIABILITIES

1,304,240

1,270,232

CAPITAL AND RESERVES

Called up share capital

9

4,000

4,000

Retained earnings

1,300,240

1,266,232

SHAREHOLDERS' FUNDS

1,304,240

1,270,232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2021 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 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 director and authorised for issue on 12 September 2022 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.

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

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

Other operating income

Other income represents other services provided to tenants by the company net of VAT and discounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

and

Computer

furniture

equipment

Totals

£

£

£

COST

At 31 December 2020

and 30 December 2021

34,555

12,302

46,857

DEPRECIATION

At 31 December 2020

32,218

11,734

43,952

Charge for year

351

292

643

At 30 December 2021

32,569

12,026

44,595

NET BOOK VALUE

At 30 December 2021

1,986

276

2,262

At 30 December 2020

2,337

568

2,905

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 31 December 2020

and 30 December 2021

1

NET BOOK VALUE

At 30 December 2021

1

At 30 December 2020

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

39,939

62,184

Amounts owed by group undertakings

680,485

736,258

Other debtors

5,859

9,781

Loan to managed properties

23,744

20,544

Loan to pension scheme

31,375

31,375

Directors' current accounts

10,000

10,000

Prepayments

61,530

46,546

852,932

916,688

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

-

176

Trade creditors

7,628

12,295

Corporation tax

7,966

10,102

Social security and other taxes

34,881

20,265

VAT

4,441

4,069

Other creditors

52,492

50,198

Accruals and deferred income

3,386

5,661

110,794

102,766

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

7,621

7,621

Between one and five years

16,512

24,132

24,133

31,753

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2021

2020

value:

£

£

4,000

Ordinary

£1

4,000

4,000

10.	RELATED PARTY DISCLOSURES