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Registration number: 10625500

Regency Block Cleaning Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Regency Block Cleaning Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Regency Block Cleaning Ltd

Company Information

Director

Miss Amelia Renfrew

Registered office

2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ

Accountants

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ

 

Regency Block Cleaning Ltd

(Registration number: 10625500)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,322

1,762

Investments

5

45,225

45,225

 

46,547

46,987

Current assets

 

Debtors

6

16,219

7,618

Cash at bank and in hand

 

10,668

7,411

 

26,887

15,029

Creditors: Amounts falling due within one year

7

(24,812)

(10,575)

Net current assets

 

2,075

4,454

Total assets less current liabilities

 

48,622

51,441

Provisions for liabilities

(251)

(335)

Net assets

 

48,371

51,106

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

48,271

51,006

Shareholders' funds

 

48,371

51,106

 

Regency Block Cleaning Ltd

(Registration number: 10625500)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 July 2024
 

.........................................
Miss Amelia Renfrew
Director

 

Regency Block Cleaning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ
United Kingdom

These financial statements were authorised for issue by the director on 29 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

 

Regency Block Cleaning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2

Accounting policies (continued)

Judgements

No significant judgements have been required for the preparation of the accounts.

Key sources of estimation uncertainty

No material estimations have been made for the preparation of the accounts. The carrying amount is £Nil (2022 -£Nil).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Regency Block Cleaning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

reducing balance - 25%

Office equipment

reducing balance - 25%

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Regency Block Cleaning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

 

Regency Block Cleaning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

999

6,000

6,999

At 31 October 2023

999

6,000

6,999

Depreciation

At 1 November 2022

512

4,725

5,237

Charge for the year

121

319

440

At 31 October 2023

633

5,044

5,677

Carrying amount

At 31 October 2023

366

956

1,322

At 31 October 2022

487

1,275

1,762

 

Regency Block Cleaning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

45,225

45,225

Subsidiaries

£

Cost or valuation

At 1 November 2022

45,225

Provision

Carrying amount

At 31 October 2023

45,225

At 31 October 2022

45,225

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Regency Cleaning Solutions Limited

2/4 Ash Lane, Rustington, West Sussex, BN16 3BZ

England

Ordinary

100%

100%

Subsidiary undertakings

Regency Cleaning Solutions Limited

The principal activity of Regency Cleaning Solutions Limited is residential property cleaning. The profit for the financial period of Regency Cleaning Solutions Limited was £8,725 and the aggregate amount of Capital and reserves at the end of the period was £29,129.

 

Regency Block Cleaning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

1,448

379

Amounts owed by related parties

10

6,824

-

Prepayments

 

175

189

Other debtors

 

7,772

7,050

   

16,219

7,618

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

798

683

Trade creditors

 

-

29

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

-

4,675

Taxation and social security

 

3,252

458

Accruals and deferred income

 

1,769

1,680

Other creditors

 

18,993

3,050

 

24,812

10,575

 

Regency Block Cleaning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

798

683

798

683

 

Regency Block Cleaning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

10

Related party transactions

Loans to related parties

2023

Subsidiary
£

Total
£

Advanced

6,823

6,823

At end of period

6,823

6,823

2022

Subsidiary
£

Total
£

At start of period

1,805

1,805

Repaid

(1,805)

(1,805)

At end of period

-

-

Loans from related parties

2023

Subsidiary
£

Total
£

At start of period

4,675

4,675

Repaid

(4,675)

(4,675)

At end of period

-

-

2022

Subsidiary
£

Total
£

Advanced

4,675

4,675

At end of period

4,675

4,675

Terms of loans from related parties

The loan is unsecured, interest free and repayable on demand.