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REGISTERED NUMBER: 04246038 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

REGENCY HAMPERS LIMITED

REGENCY HAMPERS LIMITED (REGISTERED NUMBER: 04246038)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REGENCY HAMPERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: D Perkin
J Perkin
N E Perkin





SECRETARIES: S Perkin
C E Perkin





REGISTERED OFFICE: Unit B,
(Marshalls of Evesham Transport Site)
Pershore Airfield, Long Lane,
Throckmorton, Pershore
Worcestershire
WR10 2JH





REGISTERED NUMBER: 04246038 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

REGENCY HAMPERS LIMITED (REGISTERED NUMBER: 04246038)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,772 2,361
Tangible assets 5 615,257 382,637
Investments 6 1,012,261 1,012,261
1,631,290 1,397,259

CURRENT ASSETS
Stocks 1,023,447 1,044,411
Debtors 7 1,752,985 1,439,410
Cash at bank 3,654,892 2,880,974
6,431,324 5,364,795
CREDITORS
Amounts falling due within one year 8 1,211,697 905,595
NET CURRENT ASSETS 5,219,627 4,459,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,850,917

5,856,459

CREDITORS
Amounts falling due after more than one
year

9

(272,966

)

(15,244

)

PROVISIONS FOR LIABILITIES (124,838 ) (93,303 )
NET ASSETS 6,453,113 5,747,912

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 6,453,112 5,747,911
6,453,113 5,747,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

REGENCY HAMPERS LIMITED (REGISTERED NUMBER: 04246038)

BALANCE SHEET - continued
31 JANUARY 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:




D Perkin - Director



N E Perkin - Director


REGENCY HAMPERS LIMITED (REGISTERED NUMBER: 04246038)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Regency Hampers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Regency Hampers Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised upon completion of a sale.

Intangible assets - patents
Patents that are held by the company and have been capitalised are being amortised on a 10% reducing balance method.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.


REGENCY HAMPERS LIMITED (REGISTERED NUMBER: 04246038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 22 ) .

REGENCY HAMPERS LIMITED (REGISTERED NUMBER: 04246038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023 5,232
Additions 1,780
At 31 January 2024 7,012
AMORTISATION
At 1 February 2023 2,871
Charge for year 369
At 31 January 2024 3,240
NET BOOK VALUE
At 31 January 2024 3,772
At 31 January 2023 2,361

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 211,676 349,155 65,700 90,665 717,196
Additions 4,750 205,431 109,769 9,451 329,401
At 31 January 2024 216,426 554,586 175,469 100,116 1,046,597
DEPRECIATION
At 1 February 2023 92,451 109,056 58,378 74,674 334,559
Charge for year 18,218 48,319 22,412 7,832 96,781
At 31 January 2024 110,669 157,375 80,790 82,506 431,340
NET BOOK VALUE
At 31 January 2024 105,757 397,211 94,679 17,610 615,257
At 31 January 2023 119,225 240,099 7,322 15,991 382,637

REGENCY HAMPERS LIMITED (REGISTERED NUMBER: 04246038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 February 2023
and 31 January 2024 42,886
DEPRECIATION
At 1 February 2023 9,837
Charge for year 4,957
At 31 January 2024 14,794
NET BOOK VALUE
At 31 January 2024 28,092
At 31 January 2023 33,049

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 1,012,261
NET BOOK VALUE
At 31 January 2024 1,012,261
At 31 January 2023 1,012,261

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 82,618 37,277
Amounts owed by group undertakings 1,066,978 829,551
Other debtors 157,909 135,958
Directors' loan accounts 395,634 370,346
Prepayments 49,846 66,278
1,752,985 1,439,410

REGENCY HAMPERS LIMITED (REGISTERED NUMBER: 04246038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 108,584 -
Hire purchase contracts 30,754 16,306
Trade creditors 313,496 186,767
Corporation Tax 120,417 189,295
Social security and other taxes 11,089 10,923
Pension control 1,559 1,497
VAT 423,337 338,623
Credit cards 50,442 112,200
Other Creditors 7,500 30,000
Accruals and deferred income 144,519 19,984
1,211,697 905,595

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 111,998 -
Bank loans - 2-5 years 81,041 -
Hire purchase contracts 79,927 15,244
272,966 15,244

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 301,623 -

Barclays have fixed and floating charges over any property or undertakings of the company in respect of the bank loan.

Hire purchase agreements are secured on the individual assets financed.

11. OTHER FINANCIAL COMMITMENTS

The total outstanding operating lease commitment as at the balance sheet date was £45,938 (2023: 124,688). This lease commitment is in respect of the commercial property which expires on 29 October 2024.

The company has one outstanding charge showing as outstanding on companies house. The charge was created 16 December 2022. The persons entitled are Barclays Security Trustee Limited, it covers all property or undertaking of the company and it contains negative pledge. This charge is in respect of a £400,000 loan taken out by the company, the loan agreement was signed in January 2023 and the funds were received in February 2023.

During previous the year, a charge created 27 September 2017 in favour of Barclays Bank Plc was satisfied.

REGENCY HAMPERS LIMITED (REGISTERED NUMBER: 04246038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 January 2024 and the period ended 31 January 2023:

2024 2023
£    £   
D Perkin
Balance outstanding at start of year 169,733 179,480
Amounts advanced 7,593 3,703
Amounts repaid - (13,450 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 177,326 169,733

N E Perkin and J Perkin
Balance outstanding at start of year 200,613 220,499
Amounts advanced 17,765 8,793
Amounts repaid (70 ) (28,679 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 218,308 200,613

Interest has been charged on the overdrawn directors' loan balances at the HMRC approved rate. There are no set repayment terms.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption to not prepare group accounts, as it is a small group.