Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falseReal estate agencies1718truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08567222 2022-12-01 2023-11-30 08567222 2021-12-01 2022-11-30 08567222 2023-11-30 08567222 2022-11-30 08567222 c:Director1 2022-12-01 2023-11-30 08567222 d:FurnitureFittings 2022-12-01 2023-11-30 08567222 d:FurnitureFittings 2023-11-30 08567222 d:FurnitureFittings 2022-11-30 08567222 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08567222 d:OfficeEquipment 2022-12-01 2023-11-30 08567222 d:OfficeEquipment 2023-11-30 08567222 d:OfficeEquipment 2022-11-30 08567222 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08567222 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08567222 d:Goodwill 2022-12-01 2023-11-30 08567222 d:Goodwill 2023-11-30 08567222 d:Goodwill 2022-11-30 08567222 d:CurrentFinancialInstruments 2023-11-30 08567222 d:CurrentFinancialInstruments 2022-11-30 08567222 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 08567222 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 08567222 d:ShareCapital 2023-11-30 08567222 d:ShareCapital 2022-11-30 08567222 d:RetainedEarningsAccumulatedLosses 2023-11-30 08567222 d:RetainedEarningsAccumulatedLosses 2022-11-30 08567222 c:FRS102 2022-12-01 2023-11-30 08567222 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 08567222 c:FullAccounts 2022-12-01 2023-11-30 08567222 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08567222 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 08567222 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 08567222 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 08567222 d:TaxLossesCarry-forwardsDeferredTax 2022-11-30 08567222 d:Goodwill d:OwnedIntangibleAssets 2022-12-01 2023-11-30 08567222 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number:  08567222














REGAN & HALLWORTH ESTATE AGENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


 
REGAN & HALLWORTH ESTATE AGENTS LIMITED
REGISTERED NUMBER: 08567222

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
95,933

Tangible assets
 5 
17,719
33,654

  
17,720
129,587

Current assets
  

Debtors: amounts falling due within one year
 6 
470,224
384,724

Cash at bank and in hand
 7 
155,577
273,886

  
625,801
658,610

Creditors: amounts falling due within one year
 8 
(120,277)
(165,671)

Net current assets
  
 
 
505,524
 
 
492,939

Total assets less current liabilities
  
523,244
622,526

Provisions for liabilities
  

Deferred tax
 9 
(600)
(2,363)

  
 
 
(600)
 
 
(2,363)

Net assets
  
522,644
620,163


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
522,544
620,063

  
522,644
620,163


Page 1

 
REGAN & HALLWORTH ESTATE AGENTS LIMITED
REGISTERED NUMBER: 08567222
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A Law
Director

Date: 15 August 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
REGAN & HALLWORTH ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

The Company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (no.08567222). The address of the registered office is 10-12 Library Street, Wigan, Greater Manchester, WN1 1NN.
These financial statements present information about the Company as an individual undertaking. The principal activity of the Company is the provision of estate agency services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
REGAN & HALLWORTH ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
REGAN & HALLWORTH ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25% Straight Line
Office equipment
-
25% Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
REGAN & HALLWORTH ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2022 - 18).

Page 6

 
REGAN & HALLWORTH ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 December 2022
959,324



At 30 November 2023

959,324



Amortisation


At 1 December 2022
863,391


Charge for the year on owned assets
95,932



At 30 November 2023

959,323



Net book value



At 30 November 2023
1



At 30 November 2022
95,933



Page 7

 
REGAN & HALLWORTH ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 December 2022
116,315
99,115
215,430


Additions
162
2,440
2,602



At 30 November 2023

116,477
101,555
218,032



Depreciation


At 1 December 2022
97,167
84,609
181,776


Charge for the year on owned assets
10,711
7,826
18,537



At 30 November 2023

107,878
92,435
200,313



Net book value



At 30 November 2023
8,599
9,120
17,719



At 30 November 2022
19,148
14,506
33,654


6.


Debtors

2023
2022
£
£


Trade debtors
63,292
107,760

Amounts owed by group undertakings
355,816
204,538

Other debtors
-
15,160

Prepayments and accrued income
51,116
57,266

470,224
384,724


Page 8

 
REGAN & HALLWORTH ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
155,577
273,886

155,577
273,886



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
12,508
34,001

Corporation tax
7,458
29,232

Other taxation and social security
38,976
40,666

Other creditors
23,697
26,461

Accruals and deferred income
37,638
35,311

120,277
165,671


Page 9

 
REGAN & HALLWORTH ESTATE AGENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Deferred taxation




2023


£






At beginning of year
(2,363)


Charged to profit or loss
1,763



At end of year
(600)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(711)
(2,505)

Short term timing differences
111
142

(600)
(2,363)


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,066 (2022 - £6,451). Contributions totalling £1,254 (2022 - £1,296) were payable to the fund at the balance sheet date and are included in creditors.


11.


Controlling party

The Company is under the control of its director, being a majority shareholder of Regan & Hallworth Holdings Ltd.

 
Page 10