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REGISTERED NUMBER: 10462592 (England and Wales)




















Unaudited Financial Statements

FOR THE YEAR ENDED

30 November 2023

for

REGALNET LIMITED

REGALNET LIMITED (REGISTERED NUMBER: 10462592)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REGALNET LIMITED

Company Information
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: A Grosskopf





REGISTERED OFFICE: First Floor, Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: 10462592 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

REGALNET LIMITED (REGISTERED NUMBER: 10462592)

Balance Sheet
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 200 -
Investment property 5 213,508 1,045,422
213,708 1,045,422

CURRENT ASSETS
Stocks 361,564 292,019
Debtors 6 452,458 12,630
Cash at bank 173,081 67,022
987,103 371,671
CREDITORS
Amounts falling due within one year 7 940,910 1,443,624
NET CURRENT ASSETS/(LIABILITIES) 46,193 (1,071,953 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,901

(26,531

)

CREDITORS
Amounts falling due after more than one
year

8

190,313

190,313
NET ASSETS/(LIABILITIES) 69,588 (216,844 )

CAPITAL AND RESERVES
Called up share capital 4 4
Profit and loss account 69,584 (216,848 )
69,588 (216,844 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

REGALNET LIMITED (REGISTERED NUMBER: 10462592)

Balance Sheet - continued
30 NOVEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 August 2024 and were signed by:





A Grosskopf - Director


REGALNET LIMITED (REGISTERED NUMBER: 10462592)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Regalnet 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.

Preparation of consolidated financial statements
The financial statements contain information about Regalnet Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


REGALNET LIMITED (REGISTERED NUMBER: 10462592)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Going concern
The balance sheet at the end of the year recorded net current liabilities. However, the director believes sufficient financial resources are available to the company to enable it to continue trading into the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 200
At 30 November 2023 200
NET BOOK VALUE
At 30 November 2023 200

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 1,045,422
Additions 111,479
Disposals (943,393 )
At 30 November 2023 213,508
NET BOOK VALUE
At 30 November 2023 213,508
At 30 November 2022 1,045,422

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 441,155 -
Other debtors 11,303 12,630
452,458 12,630

REGALNET LIMITED (REGISTERED NUMBER: 10462592)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 600,000
Trade creditors 36,721 3,629
Taxation and social security 3,382 3,903
Other creditors 900,807 836,092
940,910 1,443,624

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 190,313 190,313

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 190,313 790,313

10. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £421,167 (2022: £356,867) due to companies under A Grosskopf's control.