Regional Energy Developments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC615365 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Regional Energy Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A M Duggan

Mrs M Duggan

REGISTERED OFFICE:

42 Queens Road

Aberdeen

AB15 4YE

REGISTERED NUMBER:

SC615365 (Scotland)

ACCOUNTANTS:

SBP

Accountants

42 Queens Road

Aberdeen

AB15 4YE

FIXED ASSETS

Intangible assets

4

24,500

Tangible assets

5

63,909

91,896

88,409

116,396

CURRENT ASSETS

Stocks

2,365

Debtors

6

19,139

26,088

Cash at bank

7,829

15,447

29,333

43,900

CREDITORS

Amounts falling due within one year

7

41,558

35,742

NET CURRENT (LIABILITIES)/ASSETS

(12,225

)

8,158

TOTAL ASSETS LESS CURRENT
LIABILITIES

76,184

124,554

CREDITORS

Amounts falling due after more than one
year

8

(50,745

)

(71,973

)

PROVISIONS FOR LIABILITIES

(13,793

)

(17,460

)

NET ASSETS

11,646

35,121

CAPITAL AND RESERVES

Called up share capital

220

Retained earnings

11,426

34,901

11,646

35,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:

Mr A M Duggan - Director

1.	STATUTORY INFORMATION

Regional Energy Developments Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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 the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

24,500

NET BOOK VALUE

At 31 December 2024

24,500

At 31 December 2023

24,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

35,814

959

85,005

22,304

144,082

Additions

-

466

At 31 December 2024

35,814

959

85,005

22,770

144,548

DEPRECIATION

At 1 January 2024

13,438

829

22,214

15,705

52,186

Charge for year

7,163

78

17,001

4,211

28,453

At 31 December 2024

20,601

907

39,215

19,916

80,639

NET BOOK VALUE

At 31 December 2024

15,213

52

45,790

2,854

63,909

At 31 December 2023

22,376

130

62,791

6,599

91,896

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

85,005

DEPRECIATION

At 1 January 2024

22,214

Charge for year

17,001

At 31 December 2024

39,215

NET BOOK VALUE

At 31 December 2024

45,790

At 31 December 2023

62,791

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

12,230

18,287

Other debtors

6,909

7,801

19,139

26,088

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

10,000

Hire purchase contracts (see note 9)

11,227

14,261

Trade creditors

-

234

Taxation and social security

16,470

4,615

Other creditors

3,861

6,632

41,558

35,742

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Hire purchase contracts (see note 9)

46,578

57,806

Other creditors

4,167

14,167

50,745

71,973

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.24

31.12.23

£

Net obligations repayable:

Within one year

11,227

14,261

Between one and five years

46,578

57,806

57,805

72,067

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

Mr A M Duggan and Mrs M Duggan

Balance outstanding at start of year

(177

)

8,982

Amounts advanced

101

-

Amounts repaid

-

(9,159

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(76

)

(177

)

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the share capital.