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REGISTERED NUMBER: SC615365 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Regional Energy Developments Limited

Regional Energy Developments Limited (Registered number: SC615365)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Regional Energy Developments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr A M Duggan
Mrs M Duggan





REGISTERED OFFICE: 42 Queens Road
Aberdeen
AB15 4YE





REGISTERED NUMBER: SC615365 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Regional Energy Developments Limited (Registered number: SC615365)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,500 -
Tangible assets 5 91,896 46,057
116,396 46,057

CURRENT ASSETS
Stocks 2,365 -
Debtors 6 26,088 46,614
Cash at bank 15,447 72,695
43,900 119,309
CREDITORS
Amounts falling due within one year 7 35,742 51,579
NET CURRENT ASSETS 8,158 67,730
TOTAL ASSETS LESS CURRENT
LIABILITIES

124,554

113,787

CREDITORS
Amounts falling due after more than one
year

8

(71,973

)

(27,059

)

PROVISIONS FOR LIABILITIES (17,460 ) -
NET ASSETS 35,121 86,728

CAPITAL AND RESERVES
Called up share capital 220 220
Retained earnings 34,901 86,508
35,121 86,728

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Regional Energy Developments Limited (Registered number: SC615365)

Balance Sheet - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





Mr A M Duggan - Director


Regional Energy Developments Limited (Registered number: SC615365)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Regional Energy Developments 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.

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 each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

Regional Energy Developments Limited (Registered number: SC615365)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 24,500
At 31 December 2023 24,500
NET BOOK VALUE
At 31 December 2023 24,500

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 35,814 959 20,199 20,045 77,017
Additions - - 85,005 4,589 89,594
Disposals - - (20,199 ) (2,330 ) (22,529 )
At 31 December 2023 35,814 959 85,005 22,304 144,082
DEPRECIATION
At 1 January 2023 6,275 619 12,187 11,879 30,960
Charge for year 7,163 210 17,001 6,156 30,530
Eliminated on disposal - - (12,187 ) (2,330 ) (14,517 )
Charge written back - - 5,213 - 5,213
At 31 December 2023 13,438 829 22,214 15,705 52,186
NET BOOK VALUE
At 31 December 2023 22,376 130 62,791 6,599 91,896
At 31 December 2022 29,539 340 8,012 8,166 46,057

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 18,287 27,605
Other debtors 7,801 19,009
26,088 46,614

Regional Energy Developments Limited (Registered number: SC615365)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 14,261 11,569
Trade creditors 234 7,237
Taxation and social security 4,615 16,468
Other creditors 6,632 6,305
35,742 51,579

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 57,806 2,892
Other creditors 14,167 24,167
71,973 27,059

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr A M Duggan and Mrs M Duggan
Balance outstanding at start of year 8,982 10,889
Amounts repaid (9,159 ) (1,907 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (177 ) 8,982

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the share capital.