Regent Management Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02328355 (England and Wales)

Regent Management Limited

Financial Statements

for the period

1 January 2016 to 30 December 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D R Paul

SECRETARY:

Mrs C A Paul

REGISTERED OFFICE:

Barcroft

32 New Road

Yeadon

Leeds

West Yorkshire

LS19 7SE

REGISTERED NUMBER:

02328355 (England and Wales)

ACCOUNTANTS:

Jolliffe Cork LLP

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

28,307

37,173

Investments

5

1

1

Investment property

6

1,375,000

1,375,000

1,403,308

1,412,174

CURRENT ASSETS

Debtors

7

86,294

59,959

Cash at bank

192,140

228,587

278,434

288,546

CREDITORS

Amounts falling due within one year

8

417,504

392,005

NET CURRENT LIABILITIES

(139,070

)

(103,459

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,264,238

1,308,715

CREDITORS

Amounts falling due after more than one year

9

-

(3,928

)

PROVISIONS FOR LIABILITIES

(194,450

)

(194,450

)

NET ASSETS

1,069,788

1,110,337

CAPITAL AND RESERVES

Called up share capital

11

4,000

4,000

Retained earnings

12

1,065,788

1,106,337

SHAREHOLDERS' FUNDS

1,069,788

1,110,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2016.

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

The financial statements were approved by the director on 20 December 2017 and were signed by:

Mr D R Paul - Director

1.	STATUTORY INFORMATION

Regent Management 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.

This is the first year that the company has presented its results under FRS 102. The last financial statements

under previous UK GAAP were for the year ended 31 December 2015. The date of transition to FRS 102 was 01

January 2014 and the adjustments arising as a result of the transition from the previous UKGAAP to FRS 102

can be found in note 16 to the accounts.

Preparation of consolidated financial statements

The financial statements contain information about Regent Management Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Equipment and furniture

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Fixed assets are initially recorded at cost.

Investments in subsidiaries

Investments are initially recorded at cost with consideration taken for any diminution in value which is expected

to be permanent.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the period 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 period was 4 (2015 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

and

Motor

Computer

furniture

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2016

32,636

46,227

11,225

90,088

Additions

1,250

-

-

1,250

At 30 December 2016

33,886

46,227

11,225

91,338

DEPRECIATION

At 1 January 2016

29,539

15,888

7,488

52,915

Charge for period

652

7,585

1,879

10,116

At 30 December 2016

30,191

23,473

9,367

63,031

NET BOOK VALUE

At 30 December 2016

3,695

22,754

1,858

28,307

At 31 December 2015

3,097

30,339

3,737

37,173

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2016

and 30 December 2016

46,227

DEPRECIATION

At 1 January 2016

and 30 December 2016

15,888

NET BOOK VALUE

At 30 December 2016

30,339

At 31 December 2015

30,339

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2016

and 30 December 2016

1

NET BOOK VALUE

At 30 December 2016

1

At 31 December 2015

1

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2016

and 30 December 2016

1,375,000

NET BOOK VALUE

At 30 December 2016

1,375,000

At 31 December 2015

1,375,000

In respect of properties stated at valuations, the comparable historical cost is £402,750 (2015: £402,750).

The investment properties have been valued at their open market value after taking the appropriate professional

advice.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

37,615

8,319

Other debtors

10,773

14,777

Prepayments

37,906

36,863

86,294

59,959

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

18,467

-

Hire purchase contracts

3,928

8,961

Trade creditors

7,490

3,506

Amounts owed to group undertakings

272,169

281,569

Corporation tax

15,305

2,097

Social security and other taxes

15,574

12,534

VAT

2,910

2,249

Other creditors

63,536

63,012

Directors' current accounts

10,000

10,000

Accruals and deferred income

8,125

8,077

417,504

392,005

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

-

3,928

10.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank overdraft

18,467

-

Hire purchase contracts

3,928

12,889

22,395

12,889

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

£

4,000

Ordinary

£1

4,000

4,000

12.

RESERVES

Included within retained earnings is £777,801 of non-distributable reserves in respect of the cumulative fair value

adjustments on the investment properties, net of deferred tax.

13.	RELATED PARTY DISCLOSURES

14.	FIRST YEAR ADOPTION

FRS 102 requires that for investment properties all revaluations to fair value during the accounting period are to

be taken to the Income Statement, previously these revaluation adjustments would have gone to a separate

reserve.