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Registered Number: 07294835
England and Wales

 

 

 

REGENT SERVICE SOLUTIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Director Gary James Keys
Registered Number 07294835
Registered Office Enfield Enterprise Centre Unit 52
26-28 Queensway
Enfield
Middlesex
EN3 4SA
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 87,346    103,751 
87,346    103,751 
Current assets      
Stocks 4 2,000    2,000 
Debtors 5 190,750    182,478 
Cash at bank and in hand 162,501    170,418 
355,251    354,896 
Creditors: amount falling due within one year 6 (98,308)   (83,749)
Net current assets 256,943    271,147 
 
Total assets less current liabilities 344,289    374,898 
Creditors: amount falling due after more than one year 7 (10,648)   (19,140)
Net assets 333,641    355,758 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 333,640    355,757 
Shareholders' funds 333,641    355,758 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 17 September 2024 and were signed by:


-------------------------------
Gary James Keys
Director
2
General Information
Regent Service Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 07294835, registration address Enfield Enterprise Centre Unit 52, 26-28 Queensway, Enfield, Middlesex, EN3 4SA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 July 2023 29,614    152,707    13,354    195,675 
Additions      
Disposals      
At 30 June 2024 29,614    152,707    13,354    195,675 
Depreciation
At 01 July 2023 14,351    67,305    9,853    91,509 
Charge for year 2,289    13,656    875    16,820 
On disposals      
At 30 June 2024 16,640    80,961    10,728    108,329 
Net book values
Closing balance as at 30 June 2024 12,974    71,746    2,626    87,346 
Opening balance as at 01 July 2023 15,263    85,402    3,086    103,751 


4.

Stocks

2024
£
  2023
£
Stocks 2,000    2,000 
2,000    2,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 96,117    92,492 
Prepayments & Accrued Income 6,857    2,210 
Other Debtors 87,776    87,776 
190,750    182,478 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 4,836    4,529 
Bank Loans & Overdrafts 11,034    11,617 
Corporation Tax 33    3,643 
PAYE & Social Security 2,103    6,799 
Accrued Expenses 14,262    1,762 
Directors' Current Accounts 17,723    11,393 
VAT 48,317    44,006 
98,308    83,749 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 10,648    19,140 
10,648    19,140 

8.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
Keys Construction Ltd 87,000 87,000 

Gary Keys is a director of Keys Construction Ltd that has borrowed from Regent Service Solutions Ltd
3