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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
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
49,955 
49,955 
Investment property
285,000 
320,000 
Investments
800,800 
800,800 
1,135,755 
1,170,755 
Current assets
Debtors
241,314 
250,404 
Cash at bank and in hand
5,424 
22,956 
246,738 
273,360 
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 
Capital and reserves
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
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Regal Motors (Ashington) Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 
£ 
Cost or valuation
At cost 
At 1 November 2022
49,955 
At 31 October 2023
49,955 
Depreciation
At 31 October 2023
- 
Net book value
At 31 October 2023
49,955 
At 31 October 2022
49,955 
5
Investment property
2023 
£ 
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.
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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.
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
4,589 
1,309 
Other debtors
11,475 
23,845 
16,064 
25,154 
Amounts falling due after more than one year
Accrued income and prepayments
55,250 
55,250 
Other debtors
170,000 
170,000 
225,250 
225,250 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Loans from directors
7 
82 
Accruals
2,119 
9,750 
2,126 
9,832 
9
Loans to directors
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).
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