Company registration number 05617150 (England and Wales)
REGIS AIR CONDITIONING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
REGIS AIR CONDITIONING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
REGIS AIR CONDITIONING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
19,346
2,744
Current assets
Debtors
5
9,923
6,801
Cash at bank and in hand
12,194
12,428
22,117
19,229
Creditors: amounts falling due within one year
6
(16,968)
(14,736)
Net current assets
5,149
4,493
Total assets less current liabilities
24,495
7,237
Creditors: amounts falling due after more than one year
7
(10,640)
Provisions for liabilities
(3,676)
Net assets
10,179
7,237
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
10,079
7,137
Total equity
10,179
7,237
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
REGIS AIR CONDITIONING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 20 October 2023
Paul Bliss
Director
Company Registration No. 05617150
REGIS AIR CONDITIONING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Regis Air Conditioning Limited is a private company limited by shares incorporated in England and Wales. The registered office is 36 Ross Heights, Rowley Regis, West Midlands, B65 8DW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
REGIS AIR CONDITIONING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
1.6
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
27,000
Amortisation and impairment
At 1 April 2022 and 31 March 2023
27,000
Carrying amount
At 31 March 2023
At 31 March 2022
REGIS AIR CONDITIONING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
1,015
Additions
25,795
At 31 March 2023
26,810
Depreciation and impairment
At 1 April 2022
939
Depreciation charged in the year
6,525
At 31 March 2023
7,464
Carrying amount
At 31 March 2023
19,346
At 31 March 2022
2,744
Last year c/fwd cost
16,010
Differs from this year b/fwd by
(14,995)
Last year c/fwd depreciation
13,266
Differs from this year b/fwd by
(12,327)
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
8,613
6,392
Corporation tax recoverable
873
Other debtors
437
409
9,923
6,801
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
3,538
Other taxation and social security
1,161
878
Other creditors
15,807
10,320
16,968
14,736
REGIS AIR CONDITIONING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
10,640