The Regeneration Incentive Co Ltd - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 09763747 (England and Wales)

Unaudited Financial Statements

for the Period

1 July 2021 to 30 September 2022

for

The Regeneration Incentive Co Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

C W Peat

SECRETARY:

J G Beaumont

REGISTERED OFFICE:

118 Piccadilly

London

W1J 7NW

REGISTERED NUMBER:

09763747 (England and Wales)

ACCOUNTANTS:

Jacksons Accountants (Ascot) Limited

The Old Bakehouse

Course Road

Ascot

Berkshire

SL5 7HL

CURRENT ASSETS

Debtors

4

1

3,475

CREDITORS

Amounts falling due within one year

5

9,132

427,125

NET CURRENT LIABILITIES

(9,131

)

(423,650

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,131

)

(423,650

)

CAPITAL AND RESERVES

Called up share capital

6

4,952

4,951

Share premium

7

426,932

-

Retained earnings

7

(441,015

)

(428,601

)

SHAREHOLDERS' FUNDS

(9,131

)

(423,650

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2022 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 June 2023 and were signed by:

C W Peat - Director

1.	STATUTORY INFORMATION

The Regeneration Incentive Co Ltd 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Going concern

At the year end, the company had total net liabilities of £9.131. The director considers that the company can continue as a going concern, as the majority shareholder, The Regeneration Group Limited, has sufficient funds to provide financial support to the company from 12 months of the date of signing of the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2021 - 6 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.6.21

£

£

Amounts owed by group undertakings

1

-

Other debtors

-

3,475

1

3,475

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.22

30.6.21

£

£

Amounts owed to group undertakings

-

422,128

Social security and other taxes

206

1,877

Other creditors

7,681

-

Accrued expenses

1,245

3,120

9,132

427,125

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.22

30.6.21

value:

£

£

15,000

A Ordinary

0.000

1

2

1

49,502,250

B Ordinary

0.000

1

4,950

4,950

4,952

4,951

During the year, 5,000 A Ordinary shares were allotted at par; the nominal value of the allotted shares was £0.50. These allotted shares were then issued to The Regeneration Group Ltd by way of conversion of the debt of £426,932.46 due to the company as at 25 April 2022 into ordinary shares. The amount of the debt, in excess of the nominal value of the shares issued, was deemed share premium - see Reserves note below.

7.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 July 2021

(428,601

)

-

(428,601

)

Deficit for the period

(12,414

)

(12,414

)

Debt capitalised

-

426,932

426,932

At 30 September 2022

(441,015

)

426,932

(14,083

)

8.	POST BALANCE SHEET EVENTS

After the year end. MC Peat & Co LLP purchased 100% of the issued share capital of the parent company, The Regeneration Group Ltd.

9.	ULTIMATE PARENT COMPANY

As at 30 September 2022, The Regeneration Group Limited, a company registered in England and Wales, is regarded by the directors as being the company's ultimate parent company.