REGENTS DEVELOPMENTS LIMITED - Filleted accounts

REGENTS DEVELOPMENTS LTD - Company Information

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Registered number

04135723

REGENTS DEVELOPMENTS LIMITED

Unaudited Filleted Accounts

31 January 2022

TEMPLETONS (UK) LIMITED

CHARTERED ACCOUNTANTS

309 HOE STREET

WALTHAMSTOW

LONDON E17 9BG

REGENTS DEVELOPMENTS LIMITED
Registered number:		04135723
Balance Sheet
as at 31 January 2022

Notes			2022			2021
£				£
Fixed assets
Tangible assets	3		-			1,247

Current assets
Stocks		-			658,688
Debtors	4	809			1,932
Cash at bank and in hand		662			18,377
		1,471			678,997

Creditors: amounts falling due within one year	5	(1,378)			(40,156)

Net current assets			93			638,841

Total assets less current liabilities			93			640,088

Creditors: amounts falling due after more than one year	6		-			(413,601)



Net assets			93			226,487

Capital and reserves
Called up share capital			90			90
Profit and loss account			3			226,397

Shareholder's funds			93			226,487

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr A C M Grant
Director
Approved by the board on 17 March 2022

REGENTS DEVELOPMENTS LIMITED
Notes to the Accounts
for the year ended 31 January 2022


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration receivable. Turnover includes revenue earned from the rendering of services.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, tools and equipment		15% Written down value

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees			2022		2021
Number					Number

	Average number of persons employed by the company			1		1


3	Tangible fixed assets
						Plant and machinery etc
£
	Cost
	At 1 February 2021					16,203
	Re allocation to stock					(16,203)
	At 31 January 2022					-

	Depreciation
	At 1 February 2021					14,956
	Charge for the year					187
	On disposals					(15,143)
	At 31 January 2022					-

	Net book value
	At 31 January 2022					-
	At 31 January 2021					1,247


4	Debtors			2022		2021
£					£

	Trade debtors			-		1,932
	Amounts owed by associated companies (See note 7 below)			809		-
				809		1,932


5	Creditors: amounts falling due within one year			2022		2021
£					£

	Bank loan ( see note 6 below)			-		20,255
	Trade creditors			-		180
	Taxation and social security costs			1,378		4,332
	Other creditors			-		15,389
				1,378		40,156


6	Creditors: amounts falling due after one year			2022		2021
£					£

	Bank loan			-		413,601

	The Bank loan was fully repaid during the year.


7	Related party transactions

	AG Acquisition Limited			2022		2021
	Parent company ( see note 8 below)	£			£
	The company is incorporated in United Kingdom. The balance
	relates to the transactions between the two companies.			809	-


	Total (as disclosed in note 4 above)			809		-

8	Controlling party

	The company was under the control of AG Acquisition Limited a company which owns 100% shares in Regent Developments Limited. Mr A C M Grant is the director in both companies.


9	Other information

	REGENTS DEVELOPMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	56 High Road
	London
	N15 6JU

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