REGENT FIBRES LIMITED 11736863 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of sale and distribution of natural undyed yarn including alpaca wool. Digita Accounts Production Advanced 6.30.9574.0 true 11736863 2023-01-01 2023-12-31 11736863 2023-12-31 11736863 bus:Director3 2023-12-31 11736863 bus:OrdinaryShareClass1 bus:OtherShareType 2023-12-31 11736863 core:RetainedEarningsAccumulatedLosses 2023-12-31 11736863 core:ShareCapital 2023-12-31 11736863 core:CurrentFinancialInstruments 2023-12-31 11736863 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11736863 core:OtherRelatedParties 2023-12-31 11736863 bus:SmallEntities 2023-01-01 2023-12-31 11736863 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11736863 bus:FullAccounts 2023-01-01 2023-12-31 11736863 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11736863 bus:RegisteredOffice 2023-01-01 2023-12-31 11736863 bus:CompanySecretary1 2023-01-01 2023-12-31 11736863 bus:Director1 2023-01-01 2023-12-31 11736863 bus:Director3 2023-01-01 2023-12-31 11736863 bus:Director4 2023-01-01 2023-12-31 11736863 bus:OrdinaryShareClass1 bus:OtherShareType 2023-01-01 2023-12-31 11736863 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11736863 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11736863 core:ShareCapital 2023-01-01 2023-12-31 11736863 core:OtherRelatedParties 2023-01-01 2023-12-31 11736863 countries:England 2023-01-01 2023-12-31 11736863 2022-12-31 11736863 core:RetainedEarningsAccumulatedLosses 2022-12-31 11736863 core:ShareCapital 2022-12-31 11736863 core:OtherRelatedParties 2022-12-31 11736863 2022-01-01 2022-12-31 11736863 2022-12-31 11736863 bus:OrdinaryShareClass1 bus:OtherShareType 2022-12-31 11736863 core:CurrentFinancialInstruments 2022-12-31 11736863 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 11736863 core:OtherRelatedParties 2022-12-31 11736863 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 11736863 core:ShareCapital 2022-01-01 2022-12-31 11736863 2021-12-31 11736863 core:RetainedEarningsAccumulatedLosses 2021-12-31 11736863 core:ShareCapital 2021-12-31 11736863 core:OtherRelatedParties 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11736863

REGENT FIBRES LIMITED

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

REGENT FIBRES LIMITED

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 10

 

REGENT FIBRES LIMITED

Company Information

Directors

Woodford Directors Limited

Ms Andreea Marinela Caltan

Ms Andreea Ecaterina Mocanu

Company secretary

Woodford Services Limited

Registered office

12 Bridewell Place
3rd Floor, East Unit
London
EC4V 6AP

Accountants

ACCOUNTING 2 TREND LTD
3 The Shrubberies
George Lane
London
E18 1BD

 

REGENT FIBRES LIMITED

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

Woodford Directors Limited

Ms Andreea Ecaterina Mocanu

The following director was appointed after the year end:

Ms Andreea Marinela Caltan (appointed 1 June 2024)

Principal activity

The principal activity of the company is that of sale and distribution of natural undyed yarn including alpaca wool.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:
 

.........................................
Ms Andreea Ecaterina Mocanu
Director

 

REGENT FIBRES LIMITED

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

 

2,146,135

3,159,352

Cost of sales

 

(2,021,251)

(2,871,258)

Gross profit

 

124,884

288,094

Administrative expenses

 

(44,456)

(227,427)

Operating profit

 

80,428

60,667

Other interest receivable and similar income

 

20

71

Interest payable and similar expenses

 

(22,497)

27,701

   

(22,477)

27,772

Profit before tax

57,951

88,439

Tax on profit

 

(11,468)

(16,803)

Profit for the financial year

 

46,483

71,636

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

REGENT FIBRES LIMITED

Statement of Comprehensive Income for the Year Ended 31 December 2023

2023
£

2022
£

Profit for the year

46,483

71,636

Total comprehensive income for the year

46,483

71,636

 

REGENT FIBRES LIMITED

(Registration number: 11736863)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

62,526

170,881

Debtors

5

244,261

444,448

Cash at bank and in hand

 

615

17,144

 

307,402

632,473

Creditors: Amounts falling due within one year

6

(70,242)

(441,796)

Net assets

 

237,160

190,677

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

237,060

190,577

Shareholders' funds

 

237,160

190,677

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:
 

.........................................
Ms Andreea Ecaterina Mocanu
Director

 

REGENT FIBRES LIMITED

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

100

190,577

190,677

Profit for the year

-

46,483

46,483

At 31 December 2023

100

237,060

237,160

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

100

118,941

119,041

Profit for the year

-

71,636

71,636

At 31 December 2022

100

190,577

190,677

 

REGENT FIBRES LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
12 Bridewell Place
3rd Floor, East Unit
London
EC4V 6AP
England

These financial statements were authorised for issue by the Board on 26 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

REGENT FIBRES LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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 taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

REGENT FIBRES LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Stocks

2023
£

2022
£

Other inventories

62,526

170,881

5

Debtors

Current

2023
£

2022
£

Trade debtors

242,261

444,448

Other debtors

2,000

-

 

244,261

444,448

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

9,291

140,466

Taxation and social security

11,468

34,340

Accruals and deferred income

2,742

2,742

Other creditors

46,741

264,248

70,242

441,796

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Related party transactions

Loans from related parties

 

REGENT FIBRES LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2023

Other related parties
£

Total
£

At start of period

264,248

264,248

Advanced

31,993

31,993

Repaid

(249,500)

(249,500)

At end of period

46,741

46,741

2022

Other related parties
£

Total
£

At start of period

264,248

264,248

At end of period

264,248

264,248

Terms of loans from related parties

shareholders loan, interest free