Company registration number 02064356 (England and Wales)
REGENT SQUARE INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
REGENT SQUARE INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
REGENT SQUARE INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
893,000
893,000
Current assets
Debtors
4
48,076
45,317
Cash at bank and in hand
3,294
11,737
51,370
57,054
Creditors: amounts falling due within one year
5
(25,121)
(19,280)
Net current assets
26,249
37,774
Total assets less current liabilities
919,249
930,774
Creditors: amounts falling due after more than one year
6
(6,491)
(11,008)
Provisions for liabilities
(101,206)
(101,206)
Net assets
811,552
818,560
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
811,452
818,460
Total equity
811,552
818,560
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements 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 financial statements were approved by the board of directors and authorised for issue on 13 August 2024 and are signed on its behalf by:
R A Hickie
Director
Company Registration No. 02064356
REGENT SQUARE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Regent Square Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Dovedale Studios, 465 Battersea Park Road, London, SW11 4LR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rent receivable, and is shown net of VAT and other sales related taxes.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
1.4
Fixed asset investments
Fixed Asset Investments represent shares held on a recognised stock exchange. They are initially recognised at cost and subsequently revalued to their open market value. The increase or decrease in value is recognised through the profit and loss account.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Basic financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
REGENT SQUARE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
893,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors.
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,076
1,317
Other debtors
44,000
44,000
48,076
45,317
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
4,833
4,833
Corporation tax
12,288
10,946
Other creditors
8,000
3,501
25,121
19,280
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
6,491
11,008