Registered number
06441096
NEW REGENCY RADIO CARS LIMITED
Unaudited Filleted Accounts
31 March 2022
NEW REGENCY RADIO CARS LIMITED
Registered number: 06441096
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 304,379 255,919
Current assets
Debtors 4 42,442 6,073
Cash at bank and in hand 198,837 82,874
241,279 88,947
Creditors: amounts falling due within one year 5 (148,836) (51,299)
Net current assets 92,443 37,648
Total assets less current liabilities 396,822 293,567
Creditors: amounts falling due after more than one year 6 (346,350) (307,350)
Net assets/(liabilities) 50,472 (13,783)
Capital and reserves
Called up share capital 2 2
Profit and loss account 50,470 (13,785)
Shareholders' funds 50,472 (13,783)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ayaz Shah Furmuli
Director
Approved by the board on 15 June 2022
NEW REGENCY RADIO CARS LIMITED
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2021 72,184 486,342 558,526
Additions - 158,832 158,832
Disposals - (51,549) (51,549)
At 31 March 2022 72,184 593,625 665,809
Depreciation
At 1 April 2021 60,683 241,924 302,607
Charge for the year 1,725 67,408 69,133
On disposals - (10,310) (10,310)
At 31 March 2022 62,408 299,022 361,430
Net book value
At 31 March 2022 9,776 294,603 304,379
At 31 March 2021 11,501 244,418 255,919
4 Debtors 2022 2021
£ £
Trade debtors 8,765 3,671
Other debtors 33,677 2,402
42,442 6,073
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 102,673 6,673
Taxation and social security costs 33,716 22,750
Other creditors 12,447 21,876
148,836 51,299
6 Creditors: amounts falling due after one year 2022 2021
£ £
Other creditors 346,350 307,350
7 Other information
NEW REGENCY RADIO CARS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
4 Station Approach
Beckenham
BR3 1HY
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