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Company Registration No. 4616349 (England and Wales)
Regency Motor Company Ltd Unaudited accounts for the year ended 31 December 2023
Regency Motor Company Ltd Unaudited accounts Contents
Page
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Regency Motor Company Ltd Company Information for the year ended 31 December 2023
Director
S C Smith
Company Number
4616349 (England and Wales)
Registered Office
STROUD ROAD NAILSWORTH STROUD GLOUCESTERSHIRE GL5 5HL UK
Accountants
Marc Austin Accountancy 40 Stonecote Ridge Bussage Stroud Gloucestershire GL6 8JY
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Regency Motor Company Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
175,986 
175,251 
Current assets
Inventories
99,740 
97,055 
Cash at bank and in hand
1,643 
- 
101,383 
97,055 
Creditors: amounts falling due within one year
(50,670)
(83,490)
Net current assets
50,713 
13,565 
Total assets less current liabilities
226,699 
188,816 
Provisions for liabilities
Deferred tax
(187)
(48)
Net assets
226,512 
188,768 
Capital and reserves
Called up share capital
6 
6 
Profit and loss account
226,506 
188,762 
Shareholders' funds
226,512 
188,768 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 February 2024 and were signed on its behalf by
S C Smith Director Company Registration No. 4616349
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Regency Motor Company Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Regency Motor Company Ltd is a private company, limited by shares, registered in England and Wales, registration number 4616349. The registered office is STROUD ROAD, NAILSWORTH, STROUD, GLOUCESTERSHIRE, GL5 5HL, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25%, 20% & 33% on reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Regency Motor Company Ltd Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
175,000 
6,334 
181,334 
Additions
- 
989 
989 
At 31 December 2023
175,000 
7,323 
182,323 
Depreciation
At 1 January 2023
- 
6,083 
6,083 
Charge for the year
- 
254 
254 
At 31 December 2023
- 
6,337 
6,337 
Net book value
At 31 December 2023
175,000 
986 
175,986 
At 31 December 2022
175,000 
251 
175,251 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
24,638 
54,647 
VAT
4,154 
2,623 
Trade creditors
79 
873 
Taxes and social security
11,269 
6,830 
Loans from directors
8,333 
16,735 
Accruals
2,197 
1,782 
50,670 
83,490 
Bank loans are secured on the freehold property of the company.
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
6 Ordinary shares of £1 each
6 
6 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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