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REGISTERED NUMBER: 02282690 (England and Wales)















REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

REGENCY INVESTMENTS LIMITED

REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

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










Page

Company Information 1

Report of the Director 2

Report of the Independent Auditors 4

Statement of Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


REGENCY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs J Patel



SECRETARY: S Mistry



REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH



REGISTERED NUMBER: 02282690 (England and Wales)



SENIOR STATUTORY AUDITOR: Prakash Jariwala FCA FCCA



AUDITORS: STGCA LLP t/a Sterling
Chartered Accountants
& Statutory Auditors
505 Pinner Road
Harrow
Middlesex
HA2 6EH

REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024


The director presents her report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of management of a nursing home.

DIRECTOR
Mrs J Patel held office during the whole of the period from 1 April 2023 to the date of this report.

HEALTH AND SAFETY
The company maintains a health and safety policy which is continually monitored and formally reviewed on an annual basis. The objective of this policy is to attain and maintain high standards of health and safety performance. All persons conducting activity on behalf of the company are required to adhere strictly to this policy.

GOING CONCERN
The company has made a profit for the year and has net assets at 31 March 2024 of £977,372. In order to conclude on the appropriateness of the going concern basis, the director undertook a detailed review which included a review of trading in the financial year ended 31 March 2024 and the robust trading in the current financial period to date. The director also reviewed detailed forecasts of trading for the coming year from the date of this report including cash flows. These forecasts and projections were stress tested to assess the adequacy of liquidity headroom. The director concluded that the company has sufficient financing for the foreseeable future and concluded that it is appropriate to prepare the financial statements on a going concern basis.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.


REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs J Patel - Director


22 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
REGENCY INVESTMENTS LIMITED


Opinion
We have audited the financial statements of Regency Investments Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Other Companies Act 2006 reporting
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Director has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
REGENCY INVESTMENTS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
REGENCY INVESTMENTS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to assessing the risk of material misstatement due to irregularities including Fraud:
- we identified the laws and regulations applicable to the company through discussions with management and also used our commercial and sector experience of the industry;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, UK General Data Protection Regulation, the Companies Act 2006, the Corporation Tax Act, UK anti-money laundering regime, employment and health & safety legislation;
- we ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- identified laws and regulations were communicated within our team and remained alert to any indications of non-compliance throughout the audit;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries with Directors and management;
- considered the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
- we also made enquiries with Directors and management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud.

Responding to the risk of material misstatement due to Fraud
To respond to the identified risk of material misstatement due to fraud we assessed events and conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. We implemented following risk assessment procedures:
- enquiry with management and those charged with governance regarding any known or suspected instances of fraud;
- discussion amongst the engagement team as to how and where fraud might occur in the financial statements;
- tested journal entries to identify significant or unusual transactions and investigated the rationale behind those transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- performed analytical procedures to identify any unusual or unexpected relationship.

Responding to the risk of material misstatement due to non-compliance with Laws and Regulations
We implemented following risk assessment procedures:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading Board minutes; and
- enquiring of management as to actual and potential litigation and claims.

Ability of the audit to detect fraud or breaches of the Laws and Regulations
Owing to the inherent limitations in an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have planned and performed the audit in accordance with the auditing standards. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment, forgery, collusion, misrepresentation, or intentional omission.

Our audit procedures are planned to detect material misstatements. We are not responsible for preventing fraud or non-compliance and cannot be expected to detect non-compliance with all laws and regulations

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
REGENCY INVESTMENTS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Prakash Jariwala FCA FCCA (Senior Statutory Auditor)
for and on behalf of STGCA LLP t/a Sterling
Chartered Accountants
& Statutory Auditors
505 Pinner Road
Harrow
Middlesex
HA2 6EH

22 May 2025

REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

31/3/24 31/3/23
Notes £ £

TURNOVER 1,477,012 1,437,521

Cost of sales 1,104,274 897,572
GROSS PROFIT 372,738 539,949

Administrative expenses 253,586 175,408
OPERATING PROFIT and
PROFIT BEFORE TAXATION 119,152 364,541

Tax on profit 5 31,819 69,714
PROFIT FOR THE FINANCIAL YEAR 87,333 294,827

OTHER COMPREHENSIVE INCOME
Revaluation gain on property 3,096 3,984
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

3,096

3,984
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

90,429

298,811

REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31/3/24 31/3/23
Notes £ £ £
FIXED ASSETS
Tangible assets 6 532,775 529,563

CURRENT ASSETS
Debtors 7 588,357 451,534
Cash at bank and in hand 90,325 86,293
678,682 537,827
CREDITORS
Amounts falling due within one year 8 225,291 174,644
NET CURRENT ASSETS 453,391 363,183
TOTAL ASSETS LESS CURRENT
LIABILITIES

986,166

892,746

PROVISIONS FOR LIABILITIES 9 8,794 5,803
NET ASSETS 977,372 886,943

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 223,996 220,900
Retained earnings 753,276 665,943
SHAREHOLDERS' FUNDS 977,372 886,943

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 22 May 2025 and were signed by:





Mrs J Patel - Director


REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£ £ £ £
Balance at 1 April 2022 100 371,116 216,916 588,132

Changes in equity
Total comprehensive income - 294,827 3,984 298,811
Balance at 31 March 2023 100 665,943 220,900 886,943

Changes in equity
Total comprehensive income - 87,333 3,096 90,429
Balance at 31 March 2024 100 753,276 223,996 977,372

REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

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


1. STATUTORY INFORMATION

Regency Investments 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.

Related party exemption
The company has taken advantage of exemption, under the terms of para 1AC.35 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 represents fees receivable for services provided.

Revenue recognition
Revenue from nursing home is recognised in the accounting period in which the company obtains the right to consideration.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation, and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Freehold property- 2% on cost
Plant and machinery- 25% on reducing balance
Fixtures and fittings- 25% on reducing balance

A surplus arising from the valuation of freehold property are taken directly to the revaluation reserve. Deficits are eliminated against any revaluation reserve in respect of that income generating unit with any excess, to the extent that it represents an impairment, being charged to profit and loss account.

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 statement of financial position date.


REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors.

Going concern
The company has made a profit for the year and has net assets at 31 March 2024 of £977,372. In order to conclude on the appropriateness of the going concern basis, the director undertook a detailed review which included a review of trading in the financial year ended 31 March 2024 and the robust trading in the current financial period to date. The director also reviewed detailed forecasts of trading for the coming year from the date of this report including cash flows. These forecasts and projections were stress tested to assess the adequacy of liquidity headroom. The director concluded that the company has sufficient financing for the foreseeable future, being at least twelve months from the date of signing these financial statements and concluded that it is appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2023 - 45 ) .

31/3/24 31/3/23
£ £
Director's remuneration - -

No remuneration to director was paid by the Company, remuneration to director was paid by the Parent Company.

4. OPERATING PROFIT

The operating profit is stated after charging:

31/3/24 31/3/23
£ £
Depreciation - owned assets 15,156 14,085
Auditors' remuneration 8,400 6,900
Non-Audit remuneration 7,632 7,483

REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

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


5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/3/24 31/3/23
£ £
Current tax:
UK corporation tax 29,963 69,135

Deferred tax 1,856 579
Tax on profit 31,819 69,714

Tax effects relating to effects of other comprehensive income

31/3/24
Gross Tax Net
£ £ £
Revaluation gain on property 3,096 - 3,096

31/3/23
Gross Tax Net
£ £ £
Revaluation gain on property 3,984 - 3,984

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£ £ £ £
COST OR VALUATION
At 1 April 2023 681,550 200,194 63,172 944,916
Additions - 14,137 - 14,137
Revaluations 4,231 - - 4,231
At 31 March 2024 685,781 214,331 63,172 963,284
DEPRECIATION
At 1 April 2023 181,550 180,527 53,276 415,353
Charge for year 4,231 8,451 2,474 15,156
At 31 March 2024 185,781 188,978 55,750 430,509
NET BOOK VALUE
At 31 March 2024 500,000 25,353 7,422 532,775
At 31 March 2023 500,000 19,667 9,896 529,563

REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

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


6. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings Totals
£ £ £ £
Valuation in 2012 125,778 - - 125,778
Valuation in 2020 82,676 - - 82,676
Valuation in 2021 4,231 - - 4,231
Valuation in 2022 4,231 - - 4,231
Valuation in 2023 4,230 - - 4,230
Valuation in 2024 4,231 - - 4,231
Cost 460,404 214,331 63,172 737,907
685,781 214,331 63,172 963,284

If the freehold land and building had not been revalued it would have been included at the following historical cost:

31/3/24 31/3/23
£ £
Cost 460,404 460,404
Aggregate depreciation 185,781 181,550

Value of land in freehold land and buildings 278,854 278,854

In the opinion of the director the fair value of the investment properties as at 31 March 2024 is not significantly different to that stated above.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Trade debtors 148,901 76,935
Amounts owed by connected company 412,646 347,789
Amounts owed by associates 25,000 25,000
Prepayments and accrued income 1,810 1,810
588,357 451,534

REGENCY INVESTMENTS LIMITED (REGISTERED NUMBER: 02282690)

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
£ £
Trade creditors 50,130 15,823
Amounts owed to associates 20,876 333
Tax 29,963 69,135
Social security and other taxes 39,038 20,849
Pension Creditor 2,622 -
Other creditors 73,043 3,518
Accrued expenses 9,619 64,986
225,291 174,644

9. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£ £
Deferred tax 8,794 5,803

Deferred tax
£
Balance at 1 April 2023 5,803
Movement 2,991
Balance at 31 March 2024 8,794

10. RESERVES
Revaluation
reserve
£
At 1 April 2023 220,900
Revaluation reserve 4,231
Deferred tax on revaluation (1,135 )

At 31 March 2024 223,996

11. RELATED PARTY DISCLOSURES

Included with in creditors is £20,876 (2023: £333) payable to New Green Solutions Limited, a company in which the director's spouse, Mr J Patel , has beneficial interest.

Included with in debtors is £25,000 (2023: £25,000) receivable from Newbarnes Limited, a company in which the director has beneficial interest.

12. ULTIMATE PARENT AND CONTROLLING PARTY

The company is a subsidiary of 1st Care Limited, a company registered in England and Wales.

The director is the ultimate controller by virtue of her shareholding in 1st Care Limited.