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REGISTERED NUMBER: 10084647 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Regan Estates Limited

Regan Estates Limited (Registered number: 10084647)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Regan Estates Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs K Hayklan
J R Taylor





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: 10084647 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Regan Estates Limited (Registered number: 10084647)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,048,000 895,000

CURRENT ASSETS
Cash at bank and in hand 4,105 6,730

CREDITORS
Amounts falling due within one year 5 215,045 223,815
NET CURRENT LIABILITIES (210,940 ) (217,085 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

837,060

677,915

CREDITORS
Amounts falling due after more than one
year

6

(529,225

)

(525,198

)

PROVISIONS FOR LIABILITIES (71,003 ) (24,892 )
NET ASSETS 236,832 127,825

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 195,971 89,082
Retained earnings 40,761 38,643
SHAREHOLDERS' FUNDS 236,832 127,825

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

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

Regan Estates Limited (Registered number: 10084647)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





Mrs K Hayklan - Director


Regan Estates Limited (Registered number: 10084647)

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

1. STATUTORY INFORMATION

Regan Estates 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

Turnover
Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement, net of deferred tax. On an annual basis this surplus or deficit is transferred from retained profits into a separate, non-distributable reserve called the "fair value reserve".

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

Regan Estates Limited (Registered number: 10084647)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 895,000
Additions 153,000
At 31 March 2023 1,048,000
NET BOOK VALUE
At 31 March 2023 1,048,000
At 31 March 2022 895,000

The director considers the valuation, determined by her, represents the fair value of the investment properties as at 31st March 2020

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2016 32,569
Valuation in 2017 81,406
Valuation in 2023 153,000
Cost 781,025
1,048,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 1,679 1,439
Amounts owed to group undertakings 211,540 220,250
Other creditors 1,826 2,126
215,045 223,815

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 7) 529,225 525,198

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 443,894 440,774

Regan Estates Limited (Registered number: 10084647)

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

7. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 85,331 84,424

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 443,894 440,774

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Mortgage borrowings 525,198 525,198

Onesavings Bank PLC hold fixed and floating charges over the following freehold residential properties situated at:

6-8 Lodge Road, Feltwell, Thetford, Norfolk, IP26 4DL
44 Oak Street, Feltwell, Thetford, IP26 4DD
46 Oak Street, Feltwell, Thetford, IP26 4DD

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary 1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1 April 2022 89,082
Fair value gains / (losses) on
investment property 153,000
Deferred tax transfer (46,111 )

At 31 March 2023 195,971

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Regan Estates Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 Regan Estates Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of Regan Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Regan Estates Limited and state those matters that we have agreed to state to the Board of Directors of Regan Estates Limited, as a body, 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 Regan Estates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Regan Estates Limited 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 profit of Regan Estates Limited. You consider that Regan Estates Limited 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 Regan Estates Limited. 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.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


28 March 2024