Regnum Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05145864 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

REGNUM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

A S Ozturk

SECRETARY:

M Alpsu

REGISTERED OFFICE:

54-56 Great Suffolk Street

London

SE1 0BL

REGISTERED NUMBER:

05145864 (England and Wales)

ACCOUNTANTS:

KBSP Partners LLP

Chartered Accountants

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

FIXED ASSETS

Tangible assets

4

1,040

1,386

CURRENT ASSETS

Debtors

5

10,343,575

10,836,139

Cash at bank

38,772

10,407

10,382,347

10,846,546

CREDITORS

Amounts falling due within one year

6

558,606

935,397

NET CURRENT ASSETS

9,823,741

9,911,149

TOTAL ASSETS LESS CURRENT LIABILITIES

9,824,781

9,912,535

CREDITORS

Amounts falling due after more than one year

7

12,389,798

12,223,751

NET LIABILITIES

(2,565,017

)

(2,311,216

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(2,565,117

)

(2,311,316

)

SHAREHOLDERS' FUNDS

(2,565,017

)

(2,311,216

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 28 September 2017 and were signed by:

A S Ozturk - Director

1.	STATUTORY INFORMATION

Regnum 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis, which assumes the continued support of the

director and the long term creditor.

In this regard , Mr F Ozturk, one of the long term creditors and former director, has specifically represented that

he will not seek repayment of the loans owed to him in the foreseeable future.

Turnover

Turnover represents net invoiced sales of services and the proceeds of property disposals, excluding value added

tax.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to

related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

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 Profit and Loss Account, 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.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2016

and 31 December 2016

5,389

DEPRECIATION

At 1 January 2016

4,003

Charge for year

346

At 31 December 2016

4,349

NET BOOK VALUE

At 31 December 2016

1,040

At 31 December 2015

1,386

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Other debtors

3,294,409

3,207,192

Related undertaking

6,883,619

7,628,338

Prepayments and accrued income

165,547

609

10,343,575

10,836,139

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

120

473

Tax

-

6,609

Social security and other taxes

3,605

275

VAT

2,983

41,402

Other creditors

222,966

228,618

Directors' current accounts

320,124

651,701

Accrued expenses

8,808

6,319

558,606

935,397

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Other creditors

12,389,798

12,223,751

The above creditor consists of an unsecured loan, repayable within five years; interest is due at the rate of 2%

per annum.

8.	RELATED PARTY DISCLOSURES

Included in debtors is an amount owed by New Ventures ( London ) Limited of £6,883,619 (2015: £7,628,338), a

company owned by the director A S Ozturk.

Other debtors due within one year also include £3,098,813 ( 2015: £2,842,712) owed by Next Game Limited, a

company in which the director A S Ozturk has a 71.25% shareholding.

Other creditors falling due after more than one year is an amount owed to Fikret Ozturk of £12,389,798 ( 2015:

£12,223,751), the former director of the company, and father of the director.

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the

company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and

certain other primary statements and the Report of the Director are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Regnum Limited for the year ended 31 December 2016 which comprise the Profit and Loss

Account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Regnum Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Regnum Limited and state those matters that we have agreed to state to the director of Regnum Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Regnum Limited director for our work or for this report.

It is your duty to ensure that Regnum Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Regnum Limited. You consider that Regnum Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Regnum Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

KBSP Partners LLP

Chartered Accountants

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

29 September 2017