Company Registration No. 03766746 (England and Wales)
REGENTHILL LIMITED
Unaudited accounts
for the year ended 31 May 2024
REGENTHILL LIMITED
Unaudited accounts
Contents
REGENTHILL LIMITED
Company Information
for the year ended 31 May 2024
Directors
A Sweeney
O J Sweeney
Company Number
03766746 (England and Wales)
Registered Office
REGENTHILL WEYHILL INDUSTRIAL PARK FYFIE
WEYHILL
ANDOVER
SP11 8DN
ENGLAND
REGENTHILL LIMITED
Accountants' report
Accountants' report to the board of directors of REGENTHILL LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
REGENTHILL LIMITED for the year ended
31 May 2024 as set out on pages
5 -
9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of REGENTHILL LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of REGENTHILL LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than REGENTHILL LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that REGENTHILL 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 REGENTHILL LIMITED. You consider that REGENTHILL 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 REGENTHILL 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.
REGENTHILL LIMITED
Statement of financial position
as at 31 May 2024
Tangible assets
1,303,871
1,309,524
Inventories
110,000
110,000
Cash at bank and in hand
26,234
85,187
Creditors: amounts falling due within one year
(823,664)
(790,866)
Net current liabilities
(477,804)
(380,869)
Total assets less current liabilities
826,067
928,655
Creditors: amounts falling due after more than one year
(167,343)
(215,663)
Provisions for liabilities
Deferred tax
(19,357)
(12,893)
Net assets
639,367
700,099
Called up share capital
2
2
Profit and loss account
639,365
700,097
Shareholders' funds
639,367
700,099
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by
A Sweeney
Director
Company Registration No. 03766746
REGENTHILL LIMITED
Notes to the Accounts
for the year ended 31 May 2024
REGENTHILL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03766746. The registered office is REGENTHILL WEYHILL INDUSTRIAL PARK FYFIE, WEYHILL, ANDOVER, SP11 8DN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance method
Motor vehicles
25% Reducing Balance method
Fixtures & fittings
20% Reducing Balance method
Computer equipment
20% Reducing Balance method
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
REGENTHILL LIMITED
Notes to the Accounts
for the year ended 31 May 2024
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to
offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on theremaining balance of the liability.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
REGENTHILL LIMITED
Notes to the Accounts
for the year ended 31 May 2024
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising
on translation in the period are included in profit or loss.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 June 2023
1,004,553
1,231,190
195,662
56,134
41,747
2,529,286
Additions
-
41,738
-
24,277
-
66,015
At 31 May 2024
1,004,553
1,272,928
195,662
80,411
41,747
2,595,301
At 1 June 2023
-
962,629
181,508
41,105
34,520
1,219,762
Charge for the year
-
60,802
3,539
5,882
1,445
71,668
At 31 May 2024
-
1,023,431
185,047
46,987
35,965
1,291,430
At 31 May 2024
1,004,553
249,497
10,615
33,424
5,782
1,303,871
At 31 May 2023
1,004,553
268,561
14,154
15,029
7,227
1,309,524
Amounts falling due within one year
Trade debtors
209,626
214,810
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
66,000
66,000
Obligations under finance leases and hire purchase contracts
25,918
23,817
Trade creditors
182,061
115,698
Taxes and social security
4,311
4,242
Other creditors
153,771
177,302
Loans from directors
402,943
413,965
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
109,520
175,372
Obligations under finance leases and hire purchase contracts
57,823
40,291
REGENTHILL LIMITED
Notes to the Accounts
for the year ended 31 May 2024
8
Average number of employees
During the year the average number of employees was 10 (2023: 10).