REG Solutions Limited 13838826 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is electrical installations Digita Accounts Production Advanced 6.30.9574.0 true true 13838826 2023-02-01 2024-01-31 13838826 2024-01-31 13838826 bus:OrdinaryShareClass1 2024-01-31 13838826 bus:OrdinaryShareClass2 2024-01-31 13838826 core:RetainedEarningsAccumulatedLosses 2024-01-31 13838826 core:ShareCapital 2024-01-31 13838826 core:CurrentFinancialInstruments 2024-01-31 13838826 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13838826 core:FurnitureFittingsToolsEquipment 2024-01-31 13838826 bus:SmallEntities 2023-02-01 2024-01-31 13838826 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13838826 bus:FullAccounts 2023-02-01 2024-01-31 13838826 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13838826 bus:RegisteredOffice 2023-02-01 2024-01-31 13838826 bus:Director1 2023-02-01 2024-01-31 13838826 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 13838826 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 13838826 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13838826 bus:Agent1 2023-02-01 2024-01-31 13838826 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 13838826 countries:England 2023-02-01 2024-01-31 13838826 2022-01-10 2023-01-31 13838826 2023-01-31 13838826 bus:OrdinaryShareClass1 2023-01-31 13838826 bus:OrdinaryShareClass2 2023-01-31 13838826 core:RetainedEarningsAccumulatedLosses 2023-01-31 13838826 core:ShareCapital 2023-01-31 13838826 core:CurrentFinancialInstruments 2023-01-31 13838826 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13838826

REG Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

REG Solutions Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

REG Solutions Limited

Company Information

Director

Mr O R Mahoney

Registered office

DeVines Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

Accountants

DeVines Accountants Limited
Chartered Accountants
Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
REG Solutions Limited
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of REG Solutions Limited for the year ended 31 January 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of REG Solutions Limited, as a body, in accordance with the terms of our engagement letter dated 25 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of REG Solutions Limited and state those matters that we have agreed to state to the Board of Directors of REG Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than REG Solutions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that REG Solutions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of REG Solutions Limited. You consider that REG Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of REG Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DeVines Accountants Limited
Chartered Accountants
Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

28 October 2024

 

REG Solutions Limited

(Registration number: 13838826)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

442

-

Current assets

 

Debtors

5

2,665

5,500

Cash at bank and in hand

 

7,321

11,056

 

9,986

16,556

Creditors: Amounts falling due within one year

6

(4,077)

(6,754)

Net current assets

 

5,909

9,802

Net assets

 

6,351

9,802

Capital and reserves

 

Called up share capital

7

101

101

Retained earnings

6,250

9,701

Shareholders' funds

 

6,351

9,802

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 October 2024
 

.........................................
Mr O R Mahoney
Director

 

REG Solutions Limited

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

1

General information

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

The address of its registered office is:
DeVines Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

These financial statements were authorised for issue by the director on 28 October 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.

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 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.

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.

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.

 

REG Solutions Limited

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

Tangible assets

Tangible assets are stated in the balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

REG Solutions Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

589

589

At 31 January 2024

589

589

Depreciation

Charge for the year

147

147

At 31 January 2024

147

147

Carrying amount

At 31 January 2024

442

442

5

Debtors

Current

2024
£

2023
£

Trade debtors

590

4,250

Prepayments

1,500

1,125

Other debtors

575

125

 

2,665

5,500

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

-

3,214

Accruals and deferred income

1,380

1,320

Other creditors

2,697

2,220

4,077

6,754

 

REG Solutions Limited

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

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

1

1

1

1

 

101

101

101

101

8

Reserves

The only movement on the profit and loss account is losses and dividends.(2023- Profits and dividend)