ACCOUNTS - Final Accounts

REGENCY TAILORING (U.K.) LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseHolding investmentsfalse2017-01-01 01491531 2017-01-01 2017-12-31 01491531 2017-12-31 01491531 2016-12-31 01491531 c:Director4 2017-01-01 2017-12-31 01491531 d:CurrentFinancialInstruments 2017-12-31 01491531 d:CurrentFinancialInstruments 2016-12-31 01491531 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 01491531 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 01491531 d:ShareCapital 2017-12-31 01491531 d:ShareCapital 2016-12-31 01491531 d:RetainedEarningsAccumulatedLosses 2017-12-31 01491531 d:RetainedEarningsAccumulatedLosses 2016-12-31 01491531 c:FRS102 2017-01-01 2017-12-31 01491531 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 01491531 c:FullAccounts 2017-01-01 2017-12-31 01491531 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 iso4217:GBP

Registered number: 01491531

REGENCY TAILORING (U.K.) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2017

REGENCY TAILORING (U.K.) LIMITED

REGISTERED NUMBER: 01491531

BALANCE SHEET

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£


CURRENT ASSETS
Cash at bank and in hand	4	30,911		279,830
		30,911		279,830
Creditors: amounts falling due within one year	5	(19,178)		(261,510)
NET CURRENT ASSETS			11,733		18,320

NET ASSETS			11,733		18,320

CAPITAL AND RESERVES
Called up share capital	5,000	5,000
Profit and loss account	6,733	13,320
	11,733	18,320

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 September 2018.

R A Don

Director

The notes on pages 2 to 4 form part of these financial statements.

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REGENCY TAILORING (U.K.) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.	GENERAL INFORMATION

Regency Tailoring (UK) Limited is a private company limited by share capital, incorporated in England and Wales, registered number 01491531. The address of the registered office is 4th Floor, 7-10 Chandos Street, Cavendish Square, London, W1G 9DQ.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.3

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument 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 the Profit and Loss Account.

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.

2.4

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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REGENCY TAILORING (U.K.) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.ACCOUNTING POLICIES (CONTINUED)

2.5

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Profit and Loss Account within 'other operating income'.

2.6

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.7

INTEREST INCOME

Interest income is recognised in the Profit and Loss Account using the effective interest method.

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REGENCY TAILORING (U.K.) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.ACCOUNTING POLICIES (CONTINUED)

2.8

TAXATION

Tax is recognised in the Profit and Loss Account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

EMPLOYEES

There were no employees in current or previous year.

4.	CASH AND CASH EQUIVALENTS
		2017	2016
		£	£

	Cash at bank and in hand	30,911	279,830

5.	CREDITORS: Amounts falling due within one year
		2017	2016
		£	£

Amounts owed to group undertakings	-	242,000
Other creditors	15,502	15,502
Accruals and deferred income	3,676	4,008
	19,178	261,510

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