2022-07-012023-06-302023-06-30false05485195REGENT PROJECTS 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REGENT PROJECTS LIMITED

Registered Number
05485195
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

REGENT PROJECTS LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

Mr MJ Evans

Company Secretary

LEWIS, Victoria

Registered Address

Saffron Lodge Rickmansworth Road
Chorleywood
Rickmansworth
WD3 5SQ

Registered Number

05485195 (England and Wales)
REGENT PROJECTS LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets516,65020,962
16,65020,962
Current assets
Stocks720,00020,000
Debtors8184,477174,101
Cash at bank and on hand7,0591
211,536194,102
Creditors amounts falling due within one year9(288,057)(220,571)
Net current assets (liabilities)(76,521)(26,469)
Total assets less current liabilities(59,871)(5,507)
Creditors amounts falling due after one year10(90,000)(192,170)
Provisions for liabilities12-(9,429)
Net assets(149,871)(207,106)
Capital and reserves
Called up share capital22
Profit and loss account(149,873)(207,108)
Shareholders' funds(149,871)(207,106)
The financial statements were approved and authorised for issue by the Director on 28 February 2024, and are signed on its behalf by:
Mr MJ Evans
Director
Registered Company No. 05485195
REGENT PROJECTS LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment25
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year11
5.Property, plant and equipment

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 July 2237,7303,01516,41357,158
Additions--1,4881,488
At 30 June 2337,7303,01517,90158,646
Depreciation and impairment
At 01 July 2221,4212,42912,34636,196
Charge for year5,800--5,800
At 30 June 2327,2212,42912,34641,996
Net book value
At 30 June 2310,5095865,55516,650
At 30 June 2216,3095864,06720,962
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr MJ Evans0119,04637,00082,046
0119,04637,00082,046
During the year a Director Mr MJ Evans was advanced a loan of £82046
7.Stocks

2023

2022

££
Work in progress20,00020,000
Total20,00020,000
8.Debtors

2023

2022

££
Trade debtors / trade receivables153,735145,824
Other debtors27,6919,831
Prepayments and accrued income3,0512,678
Other debtors (Non-current)-15,768
Total184,477174,101
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables76,15091,956
Taxation and social security92,54732,094
Finance lease and HP contracts314942
Other creditors119,04695,579
Total288,057220,571
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts90,000173,218
Other creditors-18,952
Total90,000192,170
11.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts-18,952
12.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)-9,429
Total-9,429