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REGISTERED NUMBER: SC249382 (Scotland)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

REGENCY (WEST LOTHIAN) LTD

REGENCY (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC249382)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REGENCY (WEST LOTHIAN) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Robert Lawrie
Andrew Charles Gess
Alan Purves
Aaran Robert Lawrie
Richard Peter Tobin





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC249382 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

REGENCY (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC249382)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 73,543 94,140

CURRENT ASSETS
Debtors 5 42,315 36,944
Cash at bank and in hand 219,218 218,539
261,533 255,483
CREDITORS
Amounts falling due within one year 6 212,831 196,306
NET CURRENT ASSETS 48,702 59,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

122,245

153,317

CREDITORS
Amounts falling due after more than one year 7 40,000 60,000
NET ASSETS 82,245 93,317

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 82,145 93,217
SHAREHOLDERS' FUNDS 82,245 93,317

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

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

REGENCY (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC249382)

BALANCE SHEET - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





Robert Lawrie - Director


REGENCY (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC249382)

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

1. STATUTORY INFORMATION

Regency (West Lothian) Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 33% on a straight line basis, 25% on a reducing balance basis, 20% on a reducing balance basis and 10% on a straight line basis

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

REGENCY (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC249382)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 289,074
Additions 2,501
Disposals (33,400 )
At 31 May 2023 258,175
DEPRECIATION
At 1 June 2022 194,940
Charge for year 20,058
Eliminated on disposal (30,366 )
At 31 May 2023 184,632
NET BOOK VALUE
At 31 May 2023 73,543
At 31 May 2022 94,134

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 29,980 31,589
Other debtors 12,335 5,355
42,315 36,944

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 20,000 20,000
Trade creditors 118,286 111,743
Taxation and social security 68,470 56,903
Other creditors 6,075 7,660
212,831 196,306

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 40,000 60,000

REGENCY (WEST LOTHIAN) LTD (REGISTERED NUMBER: SC249382)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 60,000 80,000