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REGISTERED NUMBER: 03027797 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

REGALCREST PROPERTIES LIMITED

REGALCREST PROPERTIES LIMITED (REGISTERED NUMBER: 03027797)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REGALCREST PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J Gluck





SECRETARY: Mrs P Gluck





REGISTERED OFFICE: 36 St Kildas Road
Stamford Hill
London
N16 5BZ





REGISTERED NUMBER: 03027797 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

REGALCREST PROPERTIES LIMITED (REGISTERED NUMBER: 03027797)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 8,368 9,861
Investment property 5 6,889,975 6,691,038
6,898,343 6,700,899

CURRENT ASSETS
Debtors 6 456,062 308,816
Investments 7 5,000 5,000
461,062 313,816
CREDITORS
Amounts falling due within one year 8 (930,625 ) (628,508 )
NET CURRENT LIABILITIES (469,563 ) (314,692 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,428,780

6,386,207

CREDITORS
Amounts falling due after more than one
year

9

(22,503

)

(32,504

)
NET ASSETS 6,406,277 6,353,703

CAPITAL AND RESERVES
Called up share capital 12 100 100
Revaluation reserve 13 5,252,994 5,252,994
Retained earnings 13 1,153,183 1,100,609
SHAREHOLDERS' FUNDS 6,406,277 6,353,703

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.

REGALCREST PROPERTIES LIMITED (REGISTERED NUMBER: 03027797)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 March 2025 and were signed by:





J Gluck - Director


REGALCREST PROPERTIES LIMITED (REGISTERED NUMBER: 03027797)

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

1. STATUTORY INFORMATION

Regalcrest Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

REGALCREST PROPERTIES LIMITED (REGISTERED NUMBER: 03027797)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 77,170 1,925 79,095
DEPRECIATION
At 1 April 2023 67,388 1,846 69,234
Charge for year 1,467 26 1,493
At 31 March 2024 68,855 1,872 70,727
NET BOOK VALUE
At 31 March 2024 8,315 53 8,368
At 31 March 2023 9,782 79 9,861

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 6,691,038
Additions 198,937
At 31 March 2024 6,889,975
NET BOOK VALUE
At 31 March 2024 6,889,975
At 31 March 2023 6,691,038

The director has confirmed that there is no significant increase or decrease in the property market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 10,923
Other debtors 456,062 297,893
456,062 308,816

7. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Unlisted investments 5,000 5,000

REGALCREST PROPERTIES LIMITED (REGISTERED NUMBER: 03027797)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 10) 22,642 87,288
Trade creditors 10,043 10,043
Taxation and social security 20,598 37,955
Other creditors 877,342 493,222
930,625 628,508

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 22,503 32,504

10. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 22,642 87,288

Amounts falling due between two and five years:
Other loans - 2-5 years 22,503 32,504

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Other loans 22,503 32,504

Under the bank loan, £22,502 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

12. CALLED UP SHARE CAPITAL

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

REGALCREST PROPERTIES LIMITED (REGISTERED NUMBER: 03027797)

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

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 1,100,609 5,252,994 6,353,603
Profit for the year 54,574 54,574
Dividends (2,000 ) (2,000 )
At 31 March 2024 1,153,183 5,252,994 6,406,177

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the director .

15. ULTIMATE CONTROLLING PARTY

The controlling party is J Gluck.