Regent Centre (Newtown) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01764170 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

REGENT CENTRE (NEWTOWN) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J R Davies

Mrs J Mills

G J C Evans

SECRETARY:

J R Davies

REGISTERED OFFICE:

c/o W.R. Davies

Conwy Road

Llandudno Junction

Gwynedd

LL31 9BA

REGISTERED NUMBER:

01764170 (England and Wales)

ACCOUNTANTS:

D.R.E. & Co. (Audit) Limited

Kingsland House

39 Abbey Foregate

Shrewsbury

Shropshire

SY2 6BL

FIXED ASSETS

Tangible assets

5

8,329

9,799

Investment property

6

500,000

500,000

508,329

509,799

CURRENT ASSETS

Debtors

7

21,960

18,184

Cash at bank

41,230

17,080

63,190

35,264

CREDITORS

Amounts falling due within one year

8

104,213

116,115

NET CURRENT LIABILITIES

(41,023

)

(80,851

)

TOTAL ASSETS LESS CURRENT LIABILITIES

467,306

428,948

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

467,206

428,848

SHAREHOLDERS' FUNDS

467,306

428,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 28 April 2023 and were signed on its behalf by:

J R Davies - Director

1.	STATUTORY INFORMATION

Regent Centre (Newtown) Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal place of business is Haughmond View, Sitka Drive, Shrewsbury Business Park, SY2 6LG.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

At the balance sheet date the company had net current liabilities of £41,023 (2021: £80,851). The shareholders have confirmed that they will continue to provide financial assistance to the company.

These financial statements are for the individual entity only.

The financial statements are presented in Sterling (£), rounded to the nearest £1.

Turnover

Turnover represents the total amount receivable by the company from investments.

Tangible fixed assets

Tangible fixed assets are stated at historic cost less accumulated depreciation. Costs include original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

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

Fixtures and fittings

-

15% reducing balance

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

(ii) Financial liabilities

Basic financial liabilities, including other loans, are initially recognised at transaction price and subsequently carried at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2022

and 31 December 2022

382,899

DEPRECIATION

At 1 January 2022

373,100

Charge for year

1,470

At 31 December 2022

374,570

NET BOOK VALUE

At 31 December 2022

8,329

At 31 December 2021

9,799

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2022

and 31 December 2022

500,000

NET BOOK VALUE

At 31 December 2022

500,000

At 31 December 2021

500,000

The fair value of investment property is based on a valuation performed by James R Evans MRICS.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

21,960

14,545

Tax

-

3,639

21,960

18,184

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

710

7,242

VAT

4,354

4,504

Amount due to W R Davies (Motors) Limited

41,054

46,766

Directors' current accounts

40,000

40,000

Accruals and deferred income

18,095

17,603

104,213

116,115

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

100

Ordinary

£1

100

100

Each ordinary share has full voting and dividend rights.

Called up share capital represents the nominal value of shares that have been issued.