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Registered number: 12133980
Regency Properties Group Limited
Financial Statements
For The Year Ended 31 August 2024
C.T.Accountants
63b Brighton Road
South Croydon
Surrey
CR2 6EE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12133980
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,672,510 11,077,435
11,672,510 11,077,435
CURRENT ASSETS
Debtors 5 42,280 735,211
Cash at bank and in hand 3,035 9,452
45,315 744,663
Creditors: Amounts Falling Due Within One Year 6 (848,844 ) (914,858 )
NET CURRENT ASSETS (LIABILITIES) (803,529 ) (170,195 )
TOTAL ASSETS LESS CURRENT LIABILITIES 10,868,981 10,907,240
Creditors: Amounts Falling Due After More Than One Year 7 (4,329,781 ) (4,400,430 )
NET ASSETS 6,539,200 6,506,810
CAPITAL AND RESERVES
Called up share capital 8 6,542,352 6,542,352
Profit and Loss Account (3,152 ) (35,542 )
SHAREHOLDERS' FUNDS 6,539,200 6,506,810
Page 1
Page 2
For the year ending 31 August 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Rovertos Savvides
Director
3rd March 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Regency Properties Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12133980 . The registered office is 131 Kings Road, Brighton, BN1 2HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 11,075,733 2,355 11,078,088
Additions 592,174 3,713 595,887
As at 31 August 2024 11,667,907 6,068 11,673,975
Depreciation
As at 1 September 2023 - 653 653
Provided during the period - 812 812
As at 31 August 2024 - 1,465 1,465
Net Book Value
As at 31 August 2024 11,667,907 4,603 11,672,510
As at 1 September 2023 11,075,733 1,702 11,077,435
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,722 10,822
Other debtors 2,710 6,305
Amounts owed by associates 32,848 718,084
42,280 735,211
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 67,963 65,277
Other creditors 3,960 3,660
Rent deposits 8,825 8,825
Directors' loan accounts 768,096 837,096
848,844 914,858
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,329,781 4,400,430
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6,542,352 6,542,352
Page 4