2 2 Regent Leisure Services Limited 02238447 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is retail and brokerage of boats Digita Accounts Production Advanced 6.30.9574.0 true 02238447 2024-01-01 2024-12-31 02238447 2024-12-31 02238447 core:CurrentFinancialInstruments 2024-12-31 02238447 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 02238447 core:Non-currentFinancialInstruments 2024-12-31 02238447 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 02238447 bus:SmallEntities 2024-01-01 2024-12-31 02238447 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02238447 bus:FilletedAccounts 2024-01-01 2024-12-31 02238447 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02238447 bus:RegisteredOffice 2024-01-01 2024-12-31 02238447 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 02238447 bus:Director1 2024-01-01 2024-12-31 02238447 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02238447 bus:Agent1 2024-01-01 2024-12-31 02238447 core:ComputerEquipment 2024-01-01 2024-12-31 02238447 1 2024-01-01 2024-12-31 02238447 countries:EnglandWales 2024-01-01 2024-12-31 02238447 2023-01-01 2023-12-31 02238447 2023-12-31 02238447 core:CurrentFinancialInstruments 2023-12-31 02238447 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02238447 core:Non-currentFinancialInstruments 2023-12-31 02238447 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 02238447

Regent Leisure Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Regent Leisure Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Regent Leisure Services Limited

Company Information

Directors

James Erik Blackburn

Colin Russ

Company secretary

Colin Russ

Registered office

AIMS - Accountants for Business
86 Nightingale Road
Guildford
Surrey
GU1 1EP

Accountants

Duncan Sweetland BSc (Hons) FCA AIMS - Accountants for Business
86 Nightingale Road
Guildford
Surrey
GU1 1EP

 

Regent Leisure Services Limited

(Registration number: 02238447)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

1,649,415

862,325

Cash at bank and in hand

 

163,712

414,089

 

1,813,127

1,276,414

Creditors: Amounts falling due within one year

5

(587,640)

(815,966)

Total assets less current liabilities

 

1,225,487

460,448

Creditors: Amounts falling due after more than one year

5

(662,070)

-

Net assets

 

563,417

460,448

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

563,317

460,348

Shareholders' funds

 

563,417

460,448

For the financial year ending 31 December 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 and 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 20 February 2025 and signed on its behalf by:
 

.........................................
James Erik Blackburn
Director

 

Regent Leisure Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
AIMS - Accountants for Business
86 Nightingale Road
Guildford
Surrey
GU1 1EP

These financial statements were authorised for issue by the Board on 20 February 2025.

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.

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.

 

Regent Leisure Services Limited

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

Depreciation

Asset class

Depreciation method and rate

Computer equipment

3 years

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Regent Leisure Services Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

Current

2024
£

2023
£

Trade debtors

4,422

4,422

Prepayments

1,505,278

738,876

Other debtors

139,715

119,027

 

1,649,415

862,325

 

Regent Leisure Services Limited

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

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

343,408

159,914

Trade creditors

 

19,544

19,544

Taxation and social security

 

32,074

45,853

Accruals and deferred income

 

22,748

429,972

Other creditors

 

169,866

160,683

 

587,640

815,966

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

662,070

-

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each of £1 each

1,000

1,000

1,000

1,000

       

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

662,070

-

Current loans and borrowings

 

Regent Leisure Services Limited

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

2024
£

2023
£

Bank borrowings

175,993

-

Other borrowings

167,415

159,914

343,408

159,914

8

Non adjusting events after the financial period

Regent Leisure Services Limited paid deposits of £79,000 to Fairline Yachts Ltd before 31 December 2024 to secure the construction of two boats. Fairline Yachts Ltd entered administration on 24 January 2025. A new owner may be found for the business formerly carried out by Fairline Yachts Ltd and the deposits accepted as security for new contracts although this is uncertain.