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REGISTERED NUMBER: 06255438 (England and Wales)






































Regulatory Compliance Limited

Unaudited Financial Statements

for the Year Ended 31st May 2023






Regulatory Compliance Limited (Registered number: 06255438)






Contents of the Financial Statements
for the year ended 31st May 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


Regulatory Compliance Limited

Company Information
for the year ended 31st May 2023







Directors: D P Keating
K W J Long
Dr C Mackie





Registered office: 5 Bridle Road
Stafford
Staffordshire
ST17 0QD





Registered number: 06255438 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Regulatory Compliance Limited (Registered number: 06255438)

Balance Sheet
31st May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 35 55

Current assets
Debtors 5 93,205 116,578
Cash at bank 4,546 11,031
97,751 127,609
Creditors
Amounts falling due within one year 6 22,248 8,832
Net current assets 75,503 118,777
Total assets less current liabilities 75,538 118,832

Capital and reserves
Called up share capital 180 180
Retained earnings 75,358 118,652
Shareholders' funds 75,538 118,832

Regulatory Compliance Limited (Registered number: 06255438)

Balance Sheet - continued
31st May 2023


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

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

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 income and retained earnings has not been delivered.

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





Dr C Mackie - Director


Regulatory Compliance Limited (Registered number: 06255438)

Notes to the Financial Statements
for the year ended 31st May 2023

1. Statutory information

Regulatory Compliance 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.

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 the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and accruals.

Trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, 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.


Regulatory Compliance Limited (Registered number: 06255438)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

2. Accounting policies - continued
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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Going concern
The directors have considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

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

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1st June 2022
and 31st May 2023 1,225 9,374 10,599
Depreciation
At 1st June 2022 1,204 9,340 10,544
Charge for year 5 15 20
At 31st May 2023 1,209 9,355 10,564
Net book value
At 31st May 2023 16 19 35
At 31st May 2022 21 34 55

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 41,037 83,737
Other debtors 52,168 32,841
93,205 116,578

Regulatory Compliance Limited (Registered number: 06255438)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 19,948 6,432
Other creditors 2,300 2,400
22,248 8,832