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REGISTERED NUMBER: 03451269 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

REGAL ASSET MANAGERS LIMITED

REGAL ASSET MANAGERS LIMITED (REGISTERED NUMBER: 03451269)

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










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


REGAL ASSET MANAGERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr R B Kerai
Mr S K Sharma
Mr. R M Pindoria



SECRETARY: Mr. R M Pindoria



REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH



REGISTERED NUMBER: 03451269 (England and Wales)



ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH



SOLICITORS: Percy Short & Cuthbert
Solicitors
Second Floor
402 Holloway Road
London
N7 6PZ

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
REGAL ASSET MANAGERS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Regal Asset Managers Limited for the year ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Regal Asset Managers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Regal Asset Managers Limited. You consider that Regal Asset Managers 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 financial statements of Regal Asset Managers 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 financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


20 November 2024

REGAL ASSET MANAGERS LIMITED (REGISTERED NUMBER: 03451269)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 234,455 250,864
Investments 5 1,170,754 1,174,054
1,405,209 1,424,918

CURRENT ASSETS
Debtors 6 702,930 549,954
Cash at bank and in hand 1,020,199 712,127
1,723,129 1,262,081
CREDITORS
Amounts falling due within one year 7 1,932,309 1,659,205
NET CURRENT LIABILITIES (209,180 ) (397,124 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,196,029

1,027,794

CREDITORS
Amounts falling due after more than one year 8 (91,007 ) (156,232 )

PROVISIONS FOR LIABILITIES 9 (47,103 ) (48,405 )
NET ASSETS 1,057,919 823,157

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 1,027,919 793,157
SHAREHOLDERS' FUNDS 1,057,919 823,157

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 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.

REGAL ASSET MANAGERS LIMITED (REGISTERED NUMBER: 03451269)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





Mr R B Kerai - Director


REGAL ASSET MANAGERS LIMITED (REGISTERED NUMBER: 03451269)

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


1. STATUTORY INFORMATION

Regal Asset Managers 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.

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Regal Asset Managers 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 recognition
Revenue is recognised at the point of collection of rent and other charges from the tenants. Other income is recognised on a rent receivable basis to the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold - Straight line over 10 years
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investments
Investments in shares are included at cost less impairment fair value.

Deferred tax
Deferred tax is recognised in respect of temporary timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

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.

REGAL ASSET MANAGERS LIMITED (REGISTERED NUMBER: 03451269)

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


2. ACCOUNTING POLICIES - continued

Trade and other debtors/creditors
Interest receivable and Interest payable
Interest receivable and interest payable are recognised in profit or loss as they accrue, using the effective interest method.

Government grants
Grants provided by the government in respect of Covid-19 are recognised in the accounting period in which they are received, under accrual model.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 192,852 105,448 212,243 79,139 589,682
Additions - 2,703 36,242 7,848 46,793
At 31 March 2024 192,852 108,151 248,485 86,987 636,475
DEPRECIATION
At 1 April 2023 96,426 50,532 113,881 77,979 338,818
Charge for year 19,285 5,762 33,651 4,504 63,202
At 31 March 2024 115,711 56,294 147,532 82,483 402,020
NET BOOK VALUE
At 31 March 2024 77,141 51,857 100,953 4,504 234,455
At 31 March 2023 96,426 54,916 98,362 1,160 250,864

REGAL ASSET MANAGERS LIMITED (REGISTERED NUMBER: 03451269)

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


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 April 2023 1,174,054
Revaluations (3,300 )
At 31 March 2024 1,170,754
NET BOOK VALUE
At 31 March 2024 1,170,754
At 31 March 2023 1,174,054

Cost or valuation at 31 March 2024 is represented by:

Shares in
group
undertakings
£   
Valuation in 2024 (3,300 )
Cost 1,174,054
1,170,754

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,629 -
Amounts owed by group undertakings 589,901 385,532
Amounts owed by connected companies 29,100 113,889
Other debtors 70,198 40,431
Tax 2,602 2,602
Accrued income 7,500 7,500
702,930 549,954

REGAL ASSET MANAGERS LIMITED (REGISTERED NUMBER: 03451269)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 32,349 44,363
Trade creditors 5,397 6,639
Clients' money 740,045 627,373
Amounts owed to group undertakings 471,844 346,844
Amounts owed to connected companies 30,000 -
Tax 17,460 -
Social security and other taxes - 3,022
Pension liability 439 774
VAT 24,977 14,350
Wages control - 12,173
Directors' current accounts 606,798 600,667
Accrued expenses 3,000 3,000
1,932,309 1,659,205

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 27,492
Bank loans - 2-5 years - 57,690
Hire purchase contracts 91,007 71,050
91,007 156,232

Included within creditors is a Coronavirus Business Interruption Loan which is repayable in 6 years with interest charge at 2.5% per annum.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 47,103 48,405

Deferred
tax
£   
Balance at 1 April 2023 48,405
Movement for the year (1,302 )
Balance at 31 March 2024 47,103

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors due within one year is amount due of £606,798 (2023: £600,667) to Mr R B Kerai.

REGAL ASSET MANAGERS LIMITED (REGISTERED NUMBER: 03451269)

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


11. RELATED PARTY DISCLOSURES

Included within creditors due within one year is amount due of £30,000 (2023: £95,000 by) to Residential Properties Funds Limited in which Mr R B Kerai has a beneficial interest. The amounts due are unsecured with no specific terms of repayments.