Regionale Ltd - Period Ending 2020-12-31

Regionale Ltd

Contents

Company Information	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Unaudited Financial Statements	4 to 8

Regionale Ltd

Company Information

Director

Mr R Marsden

Registered office

7 First Floor Hepton Court Leeds West Yorkshire LS9 6PW

Regionale Ltd

(Registration number: 12465308)
Balance Sheet as at 31 December 2020

	Note	2020 £
Fixed assets
Investments	4	101
Current assets
Debtors	5	19,250
Cash at bank and in hand		19
		19,269
Creditors: Amounts falling due within one year	6	(19,121)
Net current assets		148
Net assets		249
Capital and reserves
Called up and fully paid share capital	7	1,000
Profit and loss account		(751)
Total equity		249

For the financial period ending 31 December 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the profit and loss account has been taken.

Approved and authorised by the director on 30 September 2021
 

......................................... Mr R Marsden Director

Regionale Ltd

Statement of Changes in Equity for the Period from 15 February 2020 to 31 December 2020

	Share capital £	Profit and loss account £	Total £
Loss for the period	-	(751)	(751)
Total comprehensive income	-	(751)	(751)
New share capital subscribed	1,000	-	1,000
At 31 December 2020	1,000	(751)	249

Regionale Ltd

Notes to the Unaudited Financial Statements for the Period from 15 February 2020 to 31 December 2020

1	General information

The Company is a private company limited by share capital incorporated in England and Wales. Details of the registered office are shown on page 1.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

These financial statements have been prepared on a going concern basis, using the historical cost convention and in accordance with FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Going concern

The directors have prepared the financial statements on a going concern basis. The company only has minimal outgoings, it receives dividends from the the company's subsidiary undertakings and pays out dividends to the company's shareholders. Therefore as a result the directors believe that the going concern basis remains appropriate.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Tax

Current income tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised on timing differences between taxable profits and profits reported in the financial statements. Deferred tax is recognised on all timing differences at the reporting date and is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Regionale Ltd

Notes to the Unaudited Financial Statements for the Period from 15 February 2020 to 31 December 2020

2	Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Financial instruments

Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, according to the substance of the contractual arrangement. Equity instruments are those that entitle the holder to a residual interest in the Company's assets after deducting all of its liabilities.

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary and preference shares, which are measured at fair value provided that this can be measured reliably. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including the director) in the period, was 1.

Regionale Ltd

Notes to the Unaudited Financial Statements for the Period from 15 February 2020 to 31 December 2020

4	Investments

	2020 £
Investments in subsidiaries	101

Subsidiaries	£
Cost or valuation
Additions	101
Provision
Carrying amount
At 31 December 2020	101

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the Company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2020
Subsidiary undertakings
The Bosun's Brewing Company Limited	Unit 4 Prospect Business Centre, Prospect Street, Huddersfield, HD1 2NU. England and Wales	Ordinary	100%
The Bosun's Brewing Tap Limited	Unit 4 Prospect Business Centre, Prospect Street, Hudderfield, HD1 2NU. England and Wales	Ordinary	100%

Subsidiary undertakings

The Bosun's Brewing Company Limited The principal activity of The Bosun's Brewing Company Limited is is that of manufacturing beer.

The Bosun's Brewing Tap Limited The principal activity of The Bosun's Brewing Tap Limited is is that of operating as a licensed reseller of beer.

Regionale Ltd

Notes to the Unaudited Financial Statements for the Period from 15 February 2020 to 31 December 2020

5

Debtors

	2020 £
Amounts owed by group undertakings	19,250
	19,250

6

Creditors

	2020 £
Due within one year
Other creditors	19,121

7	Share capital

Allotted, called up and fully paid shares

	2020
	No.	£
Ordinary Shares of £1 each	1,000	1,000

New shares allotted
During the period 1,000 Ordinary shares having an aggregate nominal value of £1,000 were allotted for an aggregate consideration of £1,000.

Regionale Ltd

Notes to the Unaudited Financial Statements for the Period from 15 February 2020 to 31 December 2020

8	Related party transactions

The Company has taken the exemption set out in FRS 102 from disclosing transactions with wholly owned group members.

Other transactions with the Director

Mr R Marsden
Director and shareholder
As at at the balance sheet date, the amount owed to Mr R Marsden was £19,121.
The loan is interest free and repayable on demand.

Summary of transactions with all subsidiaries

The Bosun's Brewing Company Limited
At the balance sheet date, the amount owed from Bosun's Brewing Company Limited was £14,250 (2019 - Nil)
The loan is interest free and repayable on demand.

The Bosun's Brewing Tap Limited
At the balance sheet date, the amount owed from The Bosun's Brewing Tap Limited was £5,000 (2019 - Nil)
The loan is interest free and repayable on demand.
 

9

Control

The ultimate controlling party is Mr R Marsden.