Registered number
08447198
Regency Reeds Limited
Filleted Accounts
31 March 2023
Regency Reeds Limited
Registered number: 08447198
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 101 151
Current assets
Debtors 4 - 1,974
Paypal - (1,161)
Cash at bank and in hand 34,070 27,524
34,070 28,337
Creditors: amounts falling due within one year 5 (17,741) (11,154)
Net current assets 16,329 17,183
Net assets 16,430 17,334
Capital and reserves
Called up share capital 100 100
Profit and loss account 16,330 17,234
Shareholder's funds 16,430 17,334
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 member has 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.
David Blyth
Director
Approved by the board on 21 November 2023
Regency Reeds Limited
Notes to the Accounts
for the year ended 31 March 2023
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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:
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 251
At 31 March 2023 251
Depreciation
At 1 April 2022 100
Charge for the year 50
At 31 March 2023 150
Net book value
At 31 March 2023 101
At 31 March 2022 151
4 Debtors 2023 2022
£ £
Trade debtors - 1,974
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 2,615 2,128
Director's loan account 13,937 7,850
Other creditors 1,189 1,176
17,741 11,154
6 Related party transactions
During the year David Blyth received a salary of £9,096 (2022: £8,840) from the company. The company paid him dividends of £12,000 (2022: £2,000). At the year end the company owed David Blyth £13,937 (2022: £7,850).
7 Controlling party
The company is controlled by David Blyth, sole director and shareholder.
8 Other information
Regency Reeds Limited is a private company limited by shares and incorporated in England. Its registered office is:
26 Himbleton Road
Worcester
WR2 6BB
Regency Reeds Limited 08447198 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 David Blyth No description of principal activity 08447198 2021-04-01 2022-03-31 08447198 core:WithinOneYear 2022-03-31 08447198 core:ShareCapital 2022-03-31 08447198 core:RetainedEarningsAccumulatedLosses 2022-03-31 08447198 2022-04-01 2023-03-31 08447198 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08447198 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08447198 bus:Director40 2022-04-01 2023-03-31 08447198 1 2022-04-01 2023-03-31 08447198 core:PlantMachinery 2022-04-01 2023-03-31 08447198 countries:England 2022-04-01 2023-03-31 08447198 bus:FRS102 2022-04-01 2023-03-31 08447198 bus:FullAccounts 2022-04-01 2023-03-31 08447198 2023-03-31 08447198 core:WithinOneYear 2023-03-31 08447198 core:ShareCapital 2023-03-31 08447198 core:RetainedEarningsAccumulatedLosses 2023-03-31 08447198 core:PlantMachinery 2023-03-31 08447198 2022-03-31 08447198 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure