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Registration number: 01968032

Regallien Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Regallien Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Regallien Limited

(Registration number: 01968032)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,207,043

5,309,145

Current assets

 

Stocks

13,392

13,392

Debtors

5

1,794,563

887,671

Cash at bank and in hand

 

1,697,576

1,513,493

 

3,505,531

2,414,556

Creditors: Amounts falling due within one year

6

(1,018,212)

(1,281,221)

Net current assets

 

2,487,319

1,133,335

Total assets less current liabilities

 

7,694,362

6,442,480

Creditors: Amounts falling due after more than one year

6

(29,025)

(150,068)

Provisions for liabilities

(949,789)

(945,358)

Net assets

 

6,715,548

5,347,054

Capital and reserves

 

Called up share capital

7

76

76

Profit and loss account

6,715,472

5,346,978

Shareholders' funds

 

6,715,548

5,347,054

 

Regallien Limited

(Registration number: 01968032)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2024 and signed on its behalf by:
 



 

Mr N P Alger
Company secretary and director

 

Regallien Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Regal Tanks Benacre Road
Ellough
Beccles
Suffolk
NR34 7XD

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The presentation currency is sterling.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Regallien Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, less residual value, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Land

not depreciated

Buildings

5% straight line

Plant and machinery

15% straight line

Office equipment

15% or 33% straight line

Motor vehicles

25% reducing balance

Tanks

10% straight line

Cash
Cash comprises cash on hand and all deposits.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. 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 net realisable value.

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 at the transaction price.

 

Regallien Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an employee benefit expense when they are due.

3

Staff numbers

The average number of persons employed by the company during the year was 17 (2023 - 17).

 

Regallien Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Plant & Machinery, Office Equipment and Motor Vehicles
 £

Tanks
£

Total
£

Cost

At 1 April 2023

1,220,366

846,267

5,293,258

7,359,891

Additions

-

38,945

128,090

167,035

Disposals

-

(2,069)

-

(2,069)

At 31 March 2024

1,220,366

883,143

5,421,348

7,524,857

Depreciation

At 1 April 2023

222,062

567,750

1,260,934

2,050,746

Charge for the year

19,034

58,177

191,926

269,137

Eliminated on disposal

-

(2,069)

-

(2,069)

At 31 March 2024

241,096

623,858

1,452,860

2,317,814

Net book value

At 31 March 2024

979,270

259,285

3,968,488

5,207,043

At 31 March 2023

998,304

278,517

4,032,324

5,309,145

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

791,403

796,624

Amounts owed by related parties

8

994,016

85,256

Other debtors

 

-

200

Prepayments

 

9,144

5,591

 

1,794,563

887,671

 

Regallien Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

HP and finance lease liabilities

121,042

215,189

Trade creditors

200,344

367,313

Taxation and social security

580,061

453,432

Other creditors

47,339

66,848

Other loans

58,157

164,426

Accruals

11,269

14,013

1,018,212

1,281,221

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £121,042 (2023 - £215,189).

Creditors: amounts falling due after more than one year

2024
£

2023
£

HP and finance lease liabilities

29,025

150,068

29,025

150,068

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £29,025 (2023 - £150,068).

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Class A of £1 each of £1 each

57

57

57

57

Class B of £1 each of £1 each

11

11

11

11

Class C of £1 each of £1 each

8

8

8

8

 

76

76

76

76

 

Regallien Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Related party transactions

Directors’ advances

The company provided the directors with a current account on which cash advances were made and items of personal expenditure paid for by the company were charged. During the year £75,746 (2023 - £Nil) was advanced and £75,746 (2023 - £Nil) was repaid.

Advances were unsecured and no interest has been charged.

Other related party transactions

At the balance sheet date, included in debtors, is an amount of £900,000 (2023 - £Nil) owed by a company in which the directors are also directors and shareholders.

At the balance sheet date, included in debtors, is an amount of £94,016 (2023 - £85,256) owed by a company in which one of the directors is also a director and shareholder.

The amounts are interest free.