Company Registration No. 01364788 (England and Wales)
Regal Motors (Ashington) Limited
Unaudited accounts
for the year ended 31 October 2023
Regal Motors (Ashington) Limited
Statement of financial position
as at 31 October 2023
Tangible assets
49,955
49,955
Investment property
285,000
320,000
Investments
800,800
800,800
Cash at bank and in hand
5,424
22,956
Creditors: amounts falling due within one year
(2,126)
(9,832)
Net current assets
244,612
263,528
Total assets less current liabilities
1,380,367
1,434,283
Provisions for liabilities
Deferred tax
(37,217)
(27,257)
Net assets
1,343,150
1,407,026
Called up share capital
30,001
30,001
Profit and loss account
1,313,149
1,377,025
Shareholders' funds
1,343,150
1,407,026
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 July 2024 and were signed on its behalf by
C L Trevithick
Director
Company Registration No. 01364788
Regal Motors (Ashington) Limited
Notes to the Accounts
for the year ended 31 October 2023
Regal Motors (Ashington) Limited is a private company, limited by shares, registered in England and Wales, registration number 01364788. The registered office is 8 LINNET COURT, CAWLEDGE BUSINESS PARK, ALNWICK, NORTHUMBERLAND, NE66 2GD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has not been provided for in these accounts on the basis that recent valuation reflects fair value.
Land & buildings
Depreciation not provided
4
Tangible fixed assets
Land & buildings
Fair value at 1 November 2022
320,000
Net loss from fair value adjustments
(35,000)
At 31 October 2023
285,000
Valuation of investment property is at fair value and based on professional valuation as at January 2022 and disposal value in subsequent reporting period.
Regal Motors (Ashington) Limited
Notes to the Accounts
for the year ended 31 October 2023
6
Investments
Other investments
Valuation at 1 November 2022
800,800
Valuation at 31 October 2023
800,800
Investments are company held bonds and represent the original amounts deposited.
Amounts falling due within one year
Accrued income and prepayments
4,589
1,309
Other debtors
11,475
23,845
Amounts falling due after more than one year
Accrued income and prepayments
55,250
55,250
Other debtors
170,000
170,000
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Creditors: amounts falling due within one year
2023
2022
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan account
193,845
11,475
23,845
181,475
193,845
11,475
23,845
181,475
A commercial rate of interest is charged.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).