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REGISTERED NUMBER: 08050378 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

REGAL PROPERTY SERVICES (GB) LIMITED

REGAL PROPERTY SERVICES (GB) LIMITED (REGISTERED NUMBER: 08050378)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


REGAL PROPERTY SERVICES (GB) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr R B Kerai
Mr. R M Pindoria





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 08050378 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
REGAL PROPERTY SERVICES (GB) LIMITED


The following reproduces the text of the report prepared for the directors 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Directors 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 Regal Property Services (GB) Limited for the year ended 31 March 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of Regal Property Services (GB) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Regal Property Services (GB) Limited and state those matters that we have agreed to state to the Board of Directors of Regal Property Services (GB) Limited, as a body, 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 Regal Property Services (GB) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Regal Property Services (GB) 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 Regal Property Services (GB) Limited. You consider that Regal Property Services (GB) 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 Regal Property Services (GB) 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.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


5 October 2023

REGAL PROPERTY SERVICES (GB) LIMITED (REGISTERED NUMBER: 08050378)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,489 1,986

CURRENT ASSETS
Stocks 18,000 99,500
Debtors 5 1,567 19,763
Cash at bank 5,208 2,694
24,775 121,957
CREDITORS
Amounts falling due within one year 6 58,221 58,211
NET CURRENT (LIABILITIES)/ASSETS (33,446 ) 63,746
TOTAL ASSETS LESS CURRENT
LIABILITIES

(31,957

)

65,732

CREDITORS
Amounts falling due after more than one year 7 (23,274 ) (33,206 )

PROVISIONS FOR LIABILITIES 9 (283 ) (377 )
NET (LIABILITIES)/ASSETS (55,514 ) 32,149

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (55,614 ) 32,049
SHAREHOLDERS' FUNDS (55,514 ) 32,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

REGAL PROPERTY SERVICES (GB) LIMITED (REGISTERED NUMBER: 08050378)

BALANCE SHEET - continued
31 MARCH 2023


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 Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





Mr R B Kerai - Director


REGAL PROPERTY SERVICES (GB) LIMITED (REGISTERED NUMBER: 08050378)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Regal Property Services (GB) 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 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.

Preparation of consolidated financial statements
The financial statements contain information about Regal Property Services (GB) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Turnover
Turnover represents net sale of goods and services provided. Turnover is recognised when the company has a right to consideration.

Revenue recognition
Revenue from the building project is recognised in stages from the commencement of a project to completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year 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.


REGAL PROPERTY SERVICES (GB) LIMITED (REGISTERED NUMBER: 08050378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
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.

Interest receivable and interest payable
Interest receivable and interest payable are recognised in the profit and loss as they accrue, using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 1,000 4,750 5,750
DEPRECIATION
At 1 April 2022 822 2,942 3,764
Charge for year 45 452 497
At 31 March 2023 867 3,394 4,261
NET BOOK VALUE
At 31 March 2023 133 1,356 1,489
At 31 March 2022 178 1,808 1,986

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,567 1,763
Amounts owed by group undertakings - 18,000
1,567 19,763

REGAL PROPERTY SERVICES (GB) LIMITED (REGISTERED NUMBER: 08050378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 9,932 9,687
Trade creditors - 4,100
Amounts owed to group undertakings 2,032 -
Tax - 24
VAT 13,956 12,099
Directors' current accounts 30,501 30,501
Accrued expenses 1,800 1,800
58,221 58,211

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 23,274 33,206

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,932 9,687

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,183 9,932

Amounts falling due between two and five years:
Bank loans - 2-5 years 13,091 23,274

The company has a government-backed bounced-back loan, which is repayable over five years with interest at 2.5% per annum.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 283 377

REGAL PROPERTY SERVICES (GB) LIMITED (REGISTERED NUMBER: 08050378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 377
Provided during year (94 )
Movement
Balance at 31 March 2023 283

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors amounts less than one year is a director's balance of £30,501 (2022: £30,501) for Mr R B Kerai.

11. ULTIMATE PATENT COMPANY

The ultimate parent company is Regal Asset Manager Limited, a company incorporated in England and Wales.

Mr R Kerai is the ultimate controlling party.