Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-311falsefalseOther letting and operating of own or leased real estate2022-11-011truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 4085744 2022-11-01 2023-10-31 4085744 2021-11-01 2022-10-31 4085744 2023-10-31 4085744 2022-10-31 4085744 c:Director1 2022-11-01 2023-10-31 4085744 d:FreeholdInvestmentProperty 2023-10-31 4085744 d:FreeholdInvestmentProperty 2022-10-31 4085744 d:CurrentFinancialInstruments 2023-10-31 4085744 d:CurrentFinancialInstruments 2022-10-31 4085744 d:Non-currentFinancialInstruments 2023-10-31 4085744 d:Non-currentFinancialInstruments 2022-10-31 4085744 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 4085744 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 4085744 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 4085744 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 4085744 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 4085744 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-10-31 4085744 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 4085744 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-10-31 4085744 d:ShareCapital 2023-10-31 4085744 d:ShareCapital 2022-10-31 4085744 d:RevaluationReserve 2023-10-31 4085744 d:RevaluationReserve 2022-10-31 4085744 d:RetainedEarningsAccumulatedLosses 2023-10-31 4085744 d:RetainedEarningsAccumulatedLosses 2022-10-31 4085744 c:FRS102 2022-11-01 2023-10-31 4085744 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 4085744 c:FullAccounts 2022-11-01 2023-10-31 4085744 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 4085744 2 2022-11-01 2023-10-31 4085744 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 4085744










REGENTLEASE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
REGENTLEASE LIMITED
REGISTERED NUMBER: 4085744

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
395,000
395,000

Current assets
  

Debtors: amounts falling due within one year
 5 
606
-

Cash at bank and in hand
  
625
2,314

  
1,231
2,314

Creditors: amounts falling due within one year
 6 
(47,718)
(44,052)

Net current liabilities
  
 
 
(46,487)
 
 
(41,738)

Total assets less current liabilities
  
348,513
353,262

Creditors: amounts falling due after more than one year
 7 
(66,670)
(77,760)

Provisions for liabilities
  

Deferred tax
  
(22,950)
(22,950)

Net assets
  
258,893
252,552


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
211,888
211,888

Profit and loss account
  
46,905
40,564

  
258,893
252,552


Page 1

 
REGENTLEASE LIMITED
REGISTERED NUMBER: 4085744
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 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: 






S Docherty
Director

Date: 6 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
REGENTLEASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Regentlease Limited is a private company limited by shares. It is incorporated in England and Wales. Its registered number is 4085744 and registered office address is 5 Victoria Place, Larkhall, Bath, BA1 6RW.

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 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.

 
2.3

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.4

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.

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities
Page 3

 
REGENTLEASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.5
Financial instruments (continued)


Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.6

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.

 
2.7

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.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

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.

Page 4

 
REGENTLEASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.11

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 reporting 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 reporting 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 reporting date.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
REGENTLEASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 November 2022
395,000



At 31 October 2023
395,000

The 2023 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
170,000
170,000

Accumulated depreciation and impairments
(41,563)
(39,485)

128,437
130,515


5.


Debtors

2023
2022
£
£


Prepayments and accrued income
606
-



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,800
9,604

Trade creditors
1,420
-

Corporation tax
1,487
1,386

Other creditors
32,751
30,638

Accruals and deferred income
1,260
2,424

47,718
44,052


Page 6

 
REGENTLEASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
66,670
77,760


The following liabilities were secured:

2023
2022
£
£



Within one year
10,800
9,604

Falling due after one year
66,669
77,760

77,469
87,364

Details of security provided:

The bank loan is secured over the investment property.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2023
2022
£
£


Repayable by instalments
23,469
39,249

23,469
39,249

The bank loan is repayable in instalments at the current rate of interest; overpayments are allowed and the company makes use of this facility to reduce the outstanding balance.

Page 7

 
REGENTLEASE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,800
9,604


Amounts falling due 2-5 years

Bank loans
43,200
38,414

Amounts falling due after more than 5 years

Bank loans
23,469
39,345

77,469
87,363


 
Page 8