Registration number:
Regallien Limited
for the Year Ended 31 March 2023
Regallien Limited
(Registration number: 01968032)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Company secretary and director
Regallien Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Basis of preparation
These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The presentation currency is sterling.
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax policies
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred Tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Regallien Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Tangible assets
Tangible assets are stated at cost, less any subsequent accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, less residual value, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold Land |
not depreciated |
Buildings |
5% straight line |
Plant and machinery |
15% straight line |
Office equipment |
15% or 33% straight line |
Motor vehicles |
25% reducing balance |
Tanks |
10% straight line |
Inventories
Stocks are stated at the lower of cost and net realisable value.
Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight-line basis.
Foreign currency transactions and balances
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Defined contribution pension obligation
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Cash
Cash comprises cash on hand and all deposits.
Regallien Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Trade debtors
Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Staff numbers |
The average number of persons employed by the company during the year was
Regallien Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Tangible assets |
Land and buildings |
Plant & Machinery, Office Equipment and Motor Vehicles |
Tanks |
Total |
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Cost |
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At 1 April 2022 |
1,095,437 |
717,015 |
4,278,696 |
6,091,148 |
Additions |
124,929 |
180,312 |
1,048,890 |
1,354,131 |
Disposals |
- |
(51,060) |
(34,328) |
(85,388) |
At 31 March 2023 |
1,220,366 |
846,267 |
5,293,258 |
7,359,891 |
Depreciation |
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At 1 April 2022 |
203,028 |
552,544 |
1,105,826 |
1,861,398 |
Charge for the year |
19,034 |
48,562 |
158,158 |
225,754 |
Eliminated on disposal |
- |
(33,356) |
(3,050) |
(36,406) |
At 31 March 2023 |
222,062 |
567,750 |
1,260,934 |
2,050,746 |
Net book value |
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At 31 March 2023 |
998,304 |
278,517 |
4,032,324 |
5,309,145 |
At 31 March 2022 |
892,409 |
164,471 |
3,172,870 |
4,229,750 |
Debtors |
Note |
2023 |
2022 |
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Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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Prepayments and accrued income |
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Regallien Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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HP and finance lease liabilities |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Other loans |
164,426 |
147,214 |
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Creditors include net obligations under finance lease and hire purchase contracts which are secured of £215,189 (2022 - £163,534).
Creditors: amounts falling due after more than one year
2023 |
2022 |
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HP and finance lease liabilities |
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150,068 |
246,998 |
Creditors include net obligations under finance lease and hire purchase contracts which are secured of £150,068 (2022 - £246,998).
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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57 |
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57 |
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11 |
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11 |
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8 |
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8 |
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Regallien Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Related party transactions |
Directors' Advances
The company provided the directors with a current account on which cash advances were made and items of personal expenditure paid for by the company were charged. During the year £Nil (2022 - £37,791) was advanced and £Nil (2022 - £37,791) was repaid.
Advances were unsecured and interest has been charged at the HMRC official rate.
Other related party transactions
At the balance sheet date, included in creditors, is an amount of £12,000 (2022 - £153,572) owed to a company in which the directors are also directors and shareholders.
The amount is interest free.
During the year ended 31 March 2017 Regallien Limited made a loan to another company of which one of the directors is a director and shareholder. The amount outstanding at the beginning of the year was £84,463 (2022 - £83,760). During the year £793 (2022 - £703) was advanced and £Nil (2022 - £Nil) was repaid leaving £85,256 (2022 - £84,463) outstanding at the end of the year.
There are no formal repayment terms and no interest has been charged.