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COMPANY REGISTRATION NUMBER:
04251569
Regency House Estates Limited |
|
Filleted Unaudited Abridged Financial Statements |
|
Regency House Estates Limited |
|
Abridged Financial Statements |
|
Year ended 31 August 2023
Report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
1 |
|
|
Abridged statement of financial position |
2 |
|
|
Notes to the abridged financial statements |
4 |
|
|
Regency House Estates Limited |
|
Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
Regency House Estates Limited |
|
Year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Regency House Estates Limited for the year ended 31 August 2023, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED
Chartered Certified Accountants
2 Chesterfield Buildings
Westbourne Place
Clifton
Bristol
BS8 1RU
20 December 2023
Regency House Estates Limited |
|
Abridged Statement of Financial Position |
|
31 August 2023
Fixed assets
Tangible assets |
5 |
2,496 |
2,942 |
|
|
|
|
Current assets
Debtors |
4,023 |
16,925 |
Cash at bank and in hand |
156 |
– |
|
------- |
-------- |
|
4,179 |
16,925 |
|
|
|
Creditors: amounts falling due within one year |
33,731 |
28,531 |
|
-------- |
-------- |
Net current liabilities |
29,552 |
11,606 |
|
-------- |
-------- |
Total assets less current liabilities |
(
27,056) |
(
8,664) |
|
|
|
Creditors: amounts falling due after more than one year |
– |
8,960 |
|
-------- |
-------- |
Net liabilities |
(
27,056) |
(
17,624) |
|
-------- |
-------- |
|
|
|
Capital and reserves
Called up share capital |
2 |
2 |
Profit and loss account |
(
27,058) |
(
17,626) |
|
-------- |
-------- |
Shareholders deficit |
(
27,056) |
(
17,624) |
|
-------- |
-------- |
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Regency House Estates Limited |
|
Abridged Statement of Financial Position (continued) |
|
31 August 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
20 December 2023
, and are signed on behalf of the board by:
Mr A. Cashman |
Mr P. Cashman |
Director |
Director |
|
|
Company registration number:
04251569
Regency House Estates Limited |
|
Notes to the Abridged Financial Statements |
|
Year ended 31 August 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Richmond House, Avonmouth Way, Bristol, BS11 8DE.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the going concern basis. This basis may not be appropriate because the company has net liabilities at 31 August 2023 and 31 August 2022. The future of the company is dependent upon the continued support of its creditors. The accounts do not include any provisions for liabilities that may arise if this support is withdrawn.
Revenue recognition
Turnover shown in the income statement represents income derived from property management.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
15% reducing balance |
|
Equipment |
- |
15% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
1
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 September 2022 and 31 August 2023 |
24,075 |
|
-------- |
Depreciation |
|
At 1 September 2022 |
21,133 |
Charge for the year |
446 |
|
-------- |
At 31 August 2023 |
21,579 |
|
-------- |
Carrying amount |
|
At 31 August 2023 |
2,496 |
|
-------- |
At 31 August 2022 |
2,942 |
|
-------- |
|
|
6.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
2023 |
|
|
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mrs L. Cashman |
(
365) |
(
16,047) |
(
16,412) |
|
Mr A. Cashman |
(
292) |
(
1,566) |
(
1,858) |
|
Mr P. Cashman |
(
3,355) |
1,498 |
(
1,857) |
|
|
------- |
-------- |
-------- |
|
|
(
4,012) |
(
16,115) |
(
20,127) |
|
|
------- |
-------- |
-------- |
|
|
|
|
|
|
2022 |
|
|
Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mrs L. Cashman |
(
62) |
(
304) |
(366) |
|
Mr A. Cashman |
– |
(
292) |
(
292) |
|
Mr P. Cashman |
– |
(
3,355) |
(
3,355) |
|
|
---- |
------- |
------- |
|
|
(
62) |
(
3,951) |
(4,013) |
|
|
---- |
------- |
------- |
|
|
|
|
|
All loans to/from the director were interest free and repayable on demand.