IRIS Accounts Production v24.3.0.553 08658600 director 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh086586002023-03-31086586002024-03-31086586002023-04-012024-03-31086586002022-03-31086586002022-04-012023-03-31086586002023-03-3108658600ns15:EnglandWales2023-04-012024-03-3108658600ns14:PoundSterling2023-04-012024-03-3108658600ns10:Director12023-04-012024-03-3108658600ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108658600ns10:SmallEntities2023-04-012024-03-3108658600ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3108658600ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108658600ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108658600ns10:FullAccounts2023-04-012024-03-3108658600ns10:OrdinaryShareClass12023-04-012024-03-3108658600ns10:RegisteredOffice2023-04-012024-03-3108658600ns5:CurrentFinancialInstruments2024-03-3108658600ns5:CurrentFinancialInstruments2023-03-3108658600ns5:ShareCapital2024-03-3108658600ns5:ShareCapital2023-03-3108658600ns5:RetainedEarningsAccumulatedLosses2024-03-3108658600ns5:RetainedEarningsAccumulatedLosses2023-03-3108658600ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108658600ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108658600ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 08658600 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

REGENTRACK LIMITED

REGENTRACK LIMITED (REGISTERED NUMBER: 08658600)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


REGENTRACK LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr J A Frost





REGISTERED OFFICE: 1st Floor Spitalfields House
Stirling Way
Borehamwood
WD6 2FX





REGISTERED NUMBER: 08658600 (England and Wales)





ACCOUNTANTS: TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

REGENTRACK LIMITED (REGISTERED NUMBER: 08658600)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Investment property 4 465,518 465,518

CURRENT ASSETS
Debtors 5 8,824 8,729
Cash at bank and in hand 2,862 86,166
11,686 94,895
CREDITORS
Amounts falling due within one year 6 (284,087 ) (391,615 )
NET CURRENT LIABILITIES (272,401 ) (296,720 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

193,117

168,798

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 193,017 168,698
SHAREHOLDERS' FUNDS 193,117 168,798

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

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

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2024 and were signed by:





Mr J A Frost - Director


REGENTRACK LIMITED (REGISTERED NUMBER: 08658600)

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

1. STATUTORY INFORMATION

Regentrack 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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents rent receivable in respect of the company's investment properties. Rental income is recognised over the period of the rental agreement.

Investment property
The company adopts the below policy with regards to investment property as follows:

Property that is held for long-term rental yields or for capital appreciation or both, and that is not occupied by the company, is classified as investment property. Investment property is measured initially at its cost, including related transaction costs. After initial recognition, investment property is carried at fair value. Fair value is based on active market prices, adjusted, if necessary, for any difference in the nature, location or condition of the specified asset. If this information is not available, the company uses alternative valuation methods such as recent prices on less active markets or discounted cash flow projections.

Subsequent expenditure is included in the carrying amount of the property when it is probable that future economic benefit associated with the item will flow to the company and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged to the profit and loss account during the financial period in which they are incurred.

In accordance with Financial Reporting Standard 102 (FRS 102), investment properties are revalued and the surplus or deficit is transferred to the profit and loss account, and no depreciation is provided in respect of freehold investment properties. The requirement of the Companies Act 2006 is to depreciate all properties, but that requirement conflicts with the generally accepted accounting principle set out in FRS 102. The director considers that to depreciate such properties would not give a true and fair view, but that a true and fair view is given by following FRS 102 as described above. The effect of this departure from the Companies Act 2006 has not been quantized because it is impracticable and, in the opinion of the director, would be misleading. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

REGENTRACK LIMITED (REGISTERED NUMBER: 08658600)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Schedule 1A of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


REGENTRACK LIMITED (REGISTERED NUMBER: 08658600)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 465,518
NET BOOK VALUE
At 31 March 2024 465,518
At 31 March 2023 465,518

The property was valued by the director on an open market basis on 31 March 2024.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 8,824 8,729

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 8,080 5,702
Other creditors 276,007 385,913
284,087 391,615

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

REGENTRACK LIMITED (REGISTERED NUMBER: 08658600)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. RELATED PARTY DISCLOSURES

Included in other debtors, is an amount of £8,018 (2023- £8,018) owed from related companies with a common director.

Included in other creditors is an amount of £260,203 (2022: £NIL) owed to related companies with a common director. The loan was interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Redington Capital Holdings Limited.