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Regeneration & Economic Development Ltd

Financial Statements for the Year Ended 31 May 2023






Regeneration & Economic Development Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: R Jackson





SECRETARY: C M Plimmer





REGISTERED OFFICE: 12 Oxford Close
Caerleon
Newport
NP18 3EE





REGISTERED NUMBER: 04982620





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Regeneration & Economic Development Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Regeneration & Economic Development Ltd for the year ended 31 May 2023 which comprise the Profit & Loss Account, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Regeneration & Economic Development Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Regeneration & Economic Development Ltd and state those matters that we have agreed to state to the director of Regeneration & Economic Development Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Regeneration & Economic Development Ltd and its director for our work or for this report.

It is your duty to ensure that Regeneration & Economic Development Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Regeneration & Economic Development Ltd. You consider that Regeneration & Economic Development Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Regeneration & Economic Development Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


23 February 2024

Regeneration & Economic Development Ltd (Registered number: 04982620)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 767 1,414

CURRENT ASSETS
Debtors 4 1,298 600
Cash at bank 13,944 16,069
15,242 16,669
CREDITORS
Amounts falling due within one year 5 16,444 12,908
NET CURRENT (LIABILITIES)/ASSETS (1,202 ) 3,761
TOTAL ASSETS LESS CURRENT
LIABILITIES

(435

)

5,175

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (436 ) 5,174
SHAREHOLDERS' FUNDS (435 ) 5,175

Regeneration & Economic Development Ltd (Registered number: 04982620)

Balance Sheet - continued
31 May 2023


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 director acknowledges his 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 February 2024 and were signed by:





R Jackson - Director


Regeneration & Economic Development Ltd (Registered number: 04982620)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. 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 invoiced sales of consultancy services.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture & fixtures - 25% reducing balance
Office equipment - 33% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Regeneration & Economic Development Ltd (Registered number: 04982620)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


3. TANGIBLE FIXED ASSETS
Furniture Office
& fixtures equipment Totals
£    £    £   
COST
At 1 June 2022 1,564 6,437 8,001
Disposals (440 ) (5,730 ) (6,170 )
At 31 May 2023 1,124 707 1,831
DEPRECIATION
At 1 June 2022 813 5,774 6,587
Charge for year 107 395 502
Eliminated on disposal (295 ) (5,730 ) (6,025 )
At 31 May 2023 625 439 1,064
NET BOOK VALUE
At 31 May 2023 499 268 767
At 31 May 2022 751 663 1,414

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors & prepayments 1,298 600

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxes & social security costs 18 1,180
Other creditors & accruals 16,426 11,728
16,444 12,908