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REGISTERED NUMBER: SC237554 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

REGENCY (AYRSHIRE) LIMITED

REGENCY (AYRSHIRE) LIMITED (REGISTERED NUMBER: SC237554)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REGENCY (AYRSHIRE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: K Glass





SECRETARY: K Glass





REGISTERED OFFICE: 31 Caerlaverock Road
PRESTWICK
Ayrshire
KA9 1HP





REGISTERED NUMBER: SC237554 (Scotland)





ACCOUNTANTS: Galbraith Pritchards
Chartered Accountants
20 Barns Street
Ayr
Ayrshire
KA7 1XA

REGENCY (AYRSHIRE) LIMITED (REGISTERED NUMBER: SC237554)

BALANCE SHEET
31 OCTOBER 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 119,746 99,542
119,746 99,542

CURRENT ASSETS
Stocks 25,000 25,000
Debtors 6 618,914 441,972
Cash at bank and in hand 228,458 649,776
872,372 1,116,748
CREDITORS
Amounts falling due within one year 7 638,507 474,519
NET CURRENT ASSETS 233,865 642,229
TOTAL ASSETS LESS CURRENT
LIABILITIES

353,611

741,771

CREDITORS
Amounts falling due after more than one
year

8

(21,983

)

(31,234

)

PROVISIONS FOR LIABILITIES - (18,913 )
NET ASSETS 331,628 691,624

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 331,528 691,524
SHAREHOLDERS' FUNDS 331,628 691,624

REGENCY (AYRSHIRE) LIMITED (REGISTERED NUMBER: SC237554)

BALANCE SHEET - continued
31 OCTOBER 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 July 2024 and were signed by:





K Glass - Director


REGENCY (AYRSHIRE) LIMITED (REGISTERED NUMBER: SC237554)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Regency (Ayrshire) Limited is a private company, limited by shares , registered in Scotland. 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill is stated at cost.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.


REGENCY (AYRSHIRE) LIMITED (REGISTERED NUMBER: SC237554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 124 (2022 - 113 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 70,000
AMORTISATION
At 1 November 2022
and 31 October 2023 70,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

REGENCY (AYRSHIRE) LIMITED (REGISTERED NUMBER: SC237554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 62,959 180,301 243,260
Additions 8,630 51,488 60,118
At 31 October 2023 71,589 231,789 303,378
DEPRECIATION
At 1 November 2022 49,524 94,194 143,718
Charge for year 6,177 33,737 39,914
At 31 October 2023 55,701 127,931 183,632
NET BOOK VALUE
At 31 October 2023 15,888 103,858 119,746
At 31 October 2022 13,435 86,107 99,542

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 504,710 328,131
Other debtors 114,204 113,841
618,914 441,972

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Hire purchase contracts 1,213 4,400
Trade creditors 14,196 29,032
Amounts owed to group undertakings 64,097 34,210
Taxation and social security 226,793 107,816
Other creditors 332,208 299,061
638,507 474,519

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/10/23 31/10/22
£    £   
Bank loans 21,276 29,314
Hire purchase contracts 707 1,920
21,983 31,234

REGENCY (AYRSHIRE) LIMITED (REGISTERED NUMBER: SC237554)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

31/10/23 31/10/22
£    £   
Bank loans 21,276 29,314
Hire purchase contracts 1,920 6,320
23,196 35,634