Company Registration No. 13757863 (England and Wales)
Regency airspace Ltd
Unaudited accounts
for the year ended 30 November 2023
Regency airspace Ltd
Unaudited accounts
Contents
Regency airspace Ltd
Company Information
for the year ended 30 November 2023
Director
Patel Sachin Bhikhubhai
Company Number
13757863 (England and Wales)
Registered Office
A4 LIVINGSTONE COURT
55 PEEL ROAD
HARROW
Greater London
HA3 7QT
ENGLAND
Accountants
Equifin Accountancy Ltd
87 Kingshill drive
Harrow
Middlesex
HA3 8QQ
Regency airspace Ltd
Statement of financial position
as at 30 November 2023
Tangible assets
1,252,939
1,252,939
Inventories
2,520,940
895,005
Cash at bank and in hand
2,571
1,902
Creditors: amounts falling due within one year
(1,278,214)
(911,672)
Net current assets/(liabilities)
1,247,670
(12,423)
Total assets less current liabilities
2,500,609
1,240,516
Creditors: amounts falling due after more than one year
(2,510,747)
(1,245,217)
Net liabilities
(10,138)
(4,701)
Called up share capital
100
100
Profit and loss account
(10,238)
(4,801)
Shareholders' funds
(10,138)
(4,701)
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 August 2027 and were signed on its behalf by
Patel Sachin Bhikhubhai
Director
Company Registration No. 13757863
Regency airspace Ltd
Notes to the Accounts
for the year ended 30 November 2023
Regency airspace Ltd is a private company, limited by shares, registered in England and Wales, registration number 13757863. The registered office is A4 LIVINGSTONE COURT, 55 PEEL ROAD, HARROW, Greater London, HA3 7QT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 November 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 22 November 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Hence, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Regency airspace Ltd
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Land & buildings
At 1 December 2022
1,252,939
At 30 November 2023
1,252,939
At 30 November 2023
1,252,939
At 30 November 2022
1,252,939
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
(13,656)
149,348
Amounts owed to group undertakings and other participating interests
1,280,238
758,256
Loans from directors
9,382
3,468
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
2,510,747
1,245,217
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).