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REGISTERED NUMBER: 07583669 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2022

for

REGENCY HEALTHCARE (NW) LIMITED

REGENCY HEALTHCARE (NW) LIMITED (REGISTERED NUMBER: 07583669)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


REGENCY HEALTHCARE (NW) LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: M F Chauhdry
A I Alvi



REGISTERED OFFICE: The Laurels
Bankside Lane
Bacup
Lancashire
OL13 8GT



REGISTERED NUMBER: 07583669 (England and Wales)



ACCOUNTANTS: Sterling Associates
Chartered Certified Accountants
5 Theobald Court
Theobald Street
Elstree
Hertfordshire
WD6 4RN



BANKERS: Santander
Corporate Banking
Bridle Road
Bootle
Merseyside
L30 4GB

REGENCY HEALTHCARE (NW) LIMITED (REGISTERED NUMBER: 07583669)

Statement of Financial Position
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 999 1,499
Tangible assets 5 321,118 324,607
322,117 326,106

CURRENT ASSETS
Stocks 1,782 1,470
Debtors 6 181,241 130,763
Cash at bank and in hand 268 4,169
183,291 136,402
CREDITORS
Amounts falling due within one year 7 180,605 149,088
NET CURRENT ASSETS/(LIABILITIES) 2,686 (12,686 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

324,803

313,420

CREDITORS
Amounts falling due after more than one
year

8

(30,662

)

(39,685

)

PROVISIONS FOR LIABILITIES 9 (1,318 ) (1,040 )
NET ASSETS 292,823 272,695

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 292,723 272,595
SHAREHOLDERS' FUNDS 292,823 272,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

REGENCY HEALTHCARE (NW) LIMITED (REGISTERED NUMBER: 07583669)

Statement of Financial Position - continued
31 DECEMBER 2022


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 30 November 2023 and were signed on its behalf by:




M F Chauhdry - Director



A I Alvi - Director


REGENCY HEALTHCARE (NW) LIMITED (REGISTERED NUMBER: 07583669)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Regency Healthcare (NW) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net fees receivable which are not subject to Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

REGENCY HEALTHCARE (NW) LIMITED (REGISTERED NUMBER: 07583669)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 4,999
AMORTISATION
At 1 January 2022 3,500
Amortisation for year 500
At 31 December 2022 4,000
NET BOOK VALUE
At 31 December 2022 999
At 31 December 2021 1,499

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short Plant and and
property leasehold machinery fittings Totals
£    £    £    £    £   
COST
At 1 January 2022 374,022 1 10,639 149,990 534,652
Additions - - 3,676 3,193 6,869
At 31 December 2022 374,022 1 14,315 153,183 541,521
DEPRECIATION
At 1 January 2022 52,363 1 7,692 149,989 210,045
Charge for year 7,480 - 2,423 455 10,358
At 31 December 2022 59,843 1 10,115 150,444 220,403
NET BOOK VALUE
At 31 December 2022 314,179 - 4,200 2,739 321,118
At 31 December 2021 321,659 - 2,947 1 324,607

REGENCY HEALTHCARE (NW) LIMITED (REGISTERED NUMBER: 07583669)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 74,172 51,996
Other debtors 107,069 78,767
181,241 130,763

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 12,030 10,000
Trade creditors 64,231 40,190
Taxation and social security 9,118 23,618
Other creditors 95,226 75,280
180,605 149,088

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 30,662 39,685

9. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 1,318 1,040

Deferred
tax
£   
Balance at 1 January 2022 1,040
Provided during year 278
Balance at 31 December 2022 1,318

10. RELATED PARTY DISCLOSURES

Regency Healthcare Limited , a related company in which the directors of this company are also the directors, employs staff for both itself and the company under an agreement whereby the company will contribute its share of the staffing cost to Regency Healthcare Limited.

The company contributed £348,000 (2021: £369,850) to Regency Healthcare Limited for the provision of staff and management services. The company was owed £99,069 (2021: 70,767) by Regency Healthcare Limited as at 31 December 2022 which is included in other debtors.

11. ULTIMATE CONTROLLING PARTY

There is no single controlling party owing to the shareholding of the company.