Registered number
08765413
Regent Autos Limited
Filleted Accounts
30 November 2024
Regent Autos Limited
Registered number: 08765413
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,848 3,080
Tangible assets 4 8,987 11,972
10,835 15,052
Current assets
Stocks 7,723 6,180
Debtors 5 22,292 25,798
Cash at bank and in hand 281,119 180,654
311,134 212,632
Creditors: amounts falling due within one year 6 (113,301) (77,152)
Net current assets 197,833 135,480
Total assets less current liabilities 208,668 150,532
Provisions for liabilities (1,707) (2,274)
Net assets 206,961 148,258
Capital and reserves
Called up share capital 2 2
Profit and loss account 206,959 148,256
Shareholders' funds 206,961 148,258
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Buckle
Director
Approved by the board on 26 August 2025
Regent Autos Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leased property 20% straight line
Plant and machinery 20% straight line
Fixtures, fittings, tools and equipment 25 per cent reducing balance
Motor vehicles 25 per cent reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 10
3 Leased property £
Office:
Cost
At 1 December 2023 6,160
At 30 November 2024 6,160
Amortisation
At 1 December 2023 3,080
Provided during the year 1,232
At 30 November 2024 4,312
Net book value
At 30 November 2024 1,848
At 30 November 2023 3,080
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Fixtures and fittings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 12,343 66,113 11,979 90,435
Additions 1,151 - - 1,151
At 30 November 2024 13,494 66,113 11,979 91,586
Depreciation
At 1 December 2023 7,803 60,211 10,449 78,463
Charge for the year 1,423 2,330 383 4,136
At 30 November 2024 9,226 62,541 10,832 82,599
Net book value
At 30 November 2024 4,268 3,572 1,147 8,987
At 30 November 2023 4,540 5,902 1,530 11,972
5 Debtors 2024 2023
£ £
Trade debtors 21,078 24,820
Other debtors 1,214 978
22,292 25,798
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 36,516 32,762
Taxation and social security costs 30,843 14,830
Other creditors 45,942 29,560
113,301 77,152
7 Other information
Regent Autos Limited is a private company limited by shares and incorporated in England. Its registered office is:
20 - 22 Wenlock Road
London
England
N1 7GU
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