Regent Foreign Exchange Limited Filleted Accounts Cover
Regent Foreign Exchange Limited
Company No. 07424083
Information for Filing with The Registrar
31 October 2023
Regent Foreign Exchange Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 October 2023.
Principal activities
The principal activity of the company during the year under review was providing corporate and SMEs customers with currency risk management and currency conversion .
Directors
The Directors who served at any time during the year were as follows:
A. Chagoubat Millin
M.S. Pilling
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
A. Chagoubat Millin
Director
17 July 2024
Regent Foreign Exchange Limited Balance Sheet Registrar
at
31 October 2023
Company No.
07424083
Notes
2023
2022
£
£
Fixed assets
Intangible assets
4
561,67310,015
Investments
5
2,1532,153
563,82612,168
Current assets
Debtors
22,818275,499
Cash at bank and in hand
981,28143,804
1,004,099319,303
Creditors: Amount falling due within one year
(258,894)
(90,446)
Net current assets
745,205228,857
Total assets less current liabilities
1,309,031241,025
Net assets
1,309,031241,025
Capital and reserves
Called up share capital
270,010166,412
Share premium account
7
1,767,928364,220
Profit and loss account
7
(728,907)
(289,607)
Total equity
1,309,031241,025
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
All the members have consented to the preparation of abridged financial statements for the year ended 31 October 2023 in accordance with the Companies Act 2006.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 17 July 2024 and signed on its behalf by:
A. Chagoubat Millin
Director
17 July 2024
Regent Foreign Exchange Limited Notes to the Accounts Registrar
for the year ended 31 October 2023
1
General information
Regent Foreign Exchange Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 07424083
Its registered office is:
Level 2, 18 Savile Row
London
W1S 3PW
The abridged accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006, including the provisions permitting an abridged profit and loss accountant balance sheet to be prepared.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Investments
Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
31
4
Intangible fixed assets
Total
£
Cost
At 1 November 2022
14,307
Additions
592,616
At 31 October 2023
606,923
Amortisation and impairment
At 1 November 2022
4,292
Charge for the year
40,958
At 31 October 2023
45,250
Net book values
At 31 October 2023
561,673
At 31 October 2022
10,015
5
Investments
Total
£
Cost or valuation
At 1 November 2022
2,153
At 31 October 2023
2,153
Provisions/Impairment
Net book values
At 31 October 2023
2,153
At 31 October 2022
2,153
6
Share Capital
228407 ordinary shares of £1 and 41603 Class B shares of £1
7
Reserves
Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
Profit and loss account - includes all current and prior period retained profits and losses.
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