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REGISTERED NUMBER: 01342217 (England and Wales)










Financial Statements

for the Year Ended 31 December 2023

for

REGIS MACHINERY (SALES) LIMITED

REGIS MACHINERY (SALES) LIMITED (REGISTERED NUMBER: 01342217)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


REGIS MACHINERY (SALES) LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D Bargery
Mrs C Bright





SECRETARY: Mrs C Bright





REGISTERED OFFICE: 4 Sudley Road
Bognor Regis
West Sussex
PO21 1EU





REGISTERED NUMBER: 01342217 (England and Wales)





ACCOUNTANTS: Adams Beeny Limited
4 Sudley Road
Bognor Regis
West Sussex
PO21 1EU

REGIS MACHINERY (SALES) LIMITED (REGISTERED NUMBER: 01342217)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 18,308 22,026

CURRENT ASSETS
Debtors 5 95,020 84,992
Cash at bank 324,601 423,798
419,621 508,790
CREDITORS
Amounts falling due within one year 6 169,910 215,768
NET CURRENT ASSETS 249,711 293,022
TOTAL ASSETS LESS CURRENT
LIABILITIES

268,019

315,048

PROVISIONS FOR LIABILITIES 2,904 3,484
NET ASSETS 265,115 311,564

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 264,915 311,364
SHAREHOLDERS' FUNDS 265,115 311,564

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.

REGIS MACHINERY (SALES) LIMITED (REGISTERED NUMBER: 01342217)

Statement of Financial Position - 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 Income Statement 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:




Mrs C Bright - Director



D Bargery - Director


REGIS MACHINERY (SALES) LIMITED (REGISTERED NUMBER: 01342217)

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

1. STATUTORY INFORMATION

Regis Machinery (Sales) Limited is a private company, limited by shares , registered in England and Wales. 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

REGIS MACHINERY (SALES) LIMITED (REGISTERED NUMBER: 01342217)

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

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 19,013 46,090 65,103
Additions 1,128 - 1,128
Disposals (1,318 ) - (1,318 )
At 31 December 2023 18,823 46,090 64,913
DEPRECIATION
At 1 January 2023 15,865 27,212 43,077
Charge for year 1,070 3,776 4,846
Eliminated on disposal (1,318 ) - (1,318 )
At 31 December 2023 15,617 30,988 46,605
NET BOOK VALUE
At 31 December 2023 3,206 15,102 18,308
At 31 December 2022 3,148 18,878 22,026

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 93,503 83,476
Other debtors 1,043 1,043
Prepayments 474 473
95,020 84,992

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 49,264 85,106
Tax 8,430 3,409
Social security and other taxes 268 368
VAT 22,243 25,512
Other creditors 9,938 7,909
Current account - S.B.H. (Engineering) Ltd 49,182 49,182
Directors' loan accounts 30,585 44,282
169,910 215,768

REGIS MACHINERY (SALES) LIMITED (REGISTERED NUMBER: 01342217)

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

7. 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
£    £   
D Bargery
Balance outstanding at start of year (35,526 ) (31,988 )
Amounts advanced 57,698 28,462
Amounts repaid (41,128 ) (32,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (18,956 ) (35,526 )

Mrs C Bright
Balance outstanding at start of year (8,756 ) (31,566 )
Amounts advanced 37,128 54,810
Amounts repaid (40,000 ) (32,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,628 ) (8,756 )

The loans are interest free and repayable on demand.

8. RELATED PARTY DISCLOSURES

The Company remained under the control of it's Directors'.


As at the year end the Company owed £49,182 (2022: £49,182) to S.B.H (Engineering) Ltd.

Mr D Bargery and Mrs C Bright are both Directors of S.B.H (Engineering) Ltd and Regis Machinery (Sales) Ltd.