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RGL 2020 Limited
 
Director's Report and Unaudited Financial Statements
 
for the financial year ended 31 December 2023



RGL 2020 Limited
DIRECTOR AND OTHER INFORMATION

 
Director Joe McGrath
 
 
Company Registration Number 07882192
 
 
Registered Office Britannia Way Industrial Park
Britannia Way
Union Road, Bolton
BL2 2HG
 
 
Accountants Thos. Goodall & Son
Chartered Certified Accountants
Link House
Boreenmanna Road
Cork
Republic of Ireland



RGL 2020 Limited
DIRECTOR'S REPORT
for the financial year ended 31 December 2023

 
The director presents his report and the unaudited financial statements for the financial year ended 31 December 2023.
 
Principal Activity
The principal activity of the company was that of manufacture and supply of bathroom products. The company has now ceased trading.
     
Results and Dividends
The profit for the financial year amounted to £560,751 (2022 - £0.00).
     
Director
The director who served during the financial year is as follows:
     
Joe McGrath
   
There were no changes in shareholdings between 31 December 2023 and the date of signing the financial statements.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
___________________________
Joe McGrath
Director
     
1 October 2024



RGL 2020 Limited
STATEMENT OF DIRECTOR'S RESPONSIBILITIES
for the financial year ended 31 December 2023

 
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:
select suitable accounting policies and apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
 
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
     
On behalf of the board
     
     
     
___________________________
Joe McGrath
Director
     
1 October 2024



RGL 2020 Limited
PROFIT AND LOSS ACCOUNT
for the financial year ended 31 December 2023
2023 2022
Notes £ £

 
Exceptional items 3 560,751 -
───────── ─────────
Profit before taxation 560,751 -
 
Tax on profit - -
───────── ─────────
Profit for the financial year 560,751 -
───────── ─────────
Total comprehensive income 560,751 -
    ═════════   ═════════



RGL 2020 Limited
Company Registration Number: 07882192
BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Current Assets
Debtors 5 - 1
Cash and cash equivalents - 1,300
───────── ─────────
- 1,301
───────── ─────────
Creditors: amounts falling due within one year 6 - (562,052)
───────── ─────────
Net Current Liabilities - (560,751)
───────── ─────────
Total Assets less Current Liabilities - (560,751)
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings (100) (560,851)
───────── ─────────
Equity attributable to owners of the company - (560,751)
═════════ ═════════
 
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).
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 1 October 2024
           
           
           
________________________________          
Joe McGrath          
Director          
           



RGL 2020 Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
RGL 2020 Limited is a company limited by shares incorporated in the United Kingdom. The registered office of the company is Britannia Way Industrial Park, Britannia Way, Union Road, Bolton, BL2 2HG. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Exceptional items 2023 2022
  £ £
 
Other exceptional item trade and other creditors written off 560,751 -
  ═════════ ═════════
       
4. Employees
 
The average monthly number of employees, including director, during the financial year was 0, (2022 - 2).
       
5. Debtors 2023 2022
  £ £
 
Other debtors - 1
  ═════════ ═════════
       
6. Creditors 2023 2022
Amounts falling due within one year £ £
 
Other loans - 483,797
Trade creditors - 58,356
Taxation  (Note 7) - 19,899
  ───────── ─────────
  - 562,052
  ═════════ ═════════
       
7. Taxation 2023 2022
  £ £
 
Creditors:
VAT - 5,748
PAYE / NI - 14,151
  ───────── ─────────
  - 19,899
  ═════════ ═════════
       
8. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
           
9. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
   
10. Parent company
 
The company regards Envirotech Projects Limited as its parent company.
 
   
11. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.