REGISTERED NUMBER: 01819312 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

REGA VENTILATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Hamilton

C J Hamilton

REGISTERED OFFICE:

21-22 Eldon Way

Biggleswade

Bedfordshire

SG18 8NH

REGISTERED NUMBER:

01819312 (England and Wales)

ACCOUNTANTS:

Barker Wilkinson Limited

19-21 Middle Row

Stevenage

Hertfordshire

SG1 3AW

BANKERS:

Barclays Bank PLC

41 High Street

St Neots

Cambridgeshire

PE19 1AS

FIXED ASSETS

Tangible assets

4

79,721

123,785

CURRENT ASSETS

Stocks

340,140

376,627

Debtors

5

278,916

307,501

Cash at bank and in hand

526,723

483,452

1,145,779

1,167,580

CREDITORS

Amounts falling due within one year

6

109,640

214,405

NET CURRENT ASSETS

1,036,139

953,175

TOTAL ASSETS LESS CURRENT LIABILITIES

1,115,860

1,076,960

PROVISIONS FOR LIABILITIES

128,430

140,945

NET ASSETS

987,430

936,015

CAPITAL AND RESERVES

Called up share capital

7

500

500

Capital redemption reserve

1,042

1,042

Retained earnings

985,888

934,473

SHAREHOLDERS' FUNDS

987,430

936,015

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 22 September 2025 and were signed on its behalf by:

R J Hamilton - Director

1.	STATUTORY INFORMATION

Rega Ventilation 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.

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31st December 2024 have been prepared using the going concern basis of accounting.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation and uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

1. Provision for Dilapidation's

Provision for dilapidation's of rental properties has been made based on historical dilapidation reviews and quotations received adjusted for inflationary increases.

Turnover

Turnover is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 15% on reducing balance

Stocks

Stocks have been valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments

The director considers all financial instruments to be basic financial instruments in accordance with paragraph 11 of FRS102.

Trade and other receivables and payables

Trade and other receivables and payables are measured at amortised cost which approximates to fair value given the short term nature of these assets and liabilities.

Trade receivables are valued at original invoice amount less an allowance for potentially un-collectable debts. Provision is made where there is objective evidence to suggest that the company will not be in a position to collect receivables as they fall due. Bad and Doubtful debts are written off in the profit and loss account on identification.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash commitments.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Lease incentives

The benefits of lease incentives are recognised in profit and loss over the lease period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

771,762

Disposals

(24,382

)

At 31 December 2024

747,380

DEPRECIATION

At 1 January 2024

647,977

Charge for year

44,064

Eliminated on disposal

(24,382

)

At 31 December 2024

667,659

NET BOOK VALUE

At 31 December 2024

79,721

At 31 December 2023

123,785

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

222,386

249,953

Other debtors

56,530

57,548

278,916

307,501

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

30,426

140,642

Taxation and social security

75,036

71,995

Other creditors

4,178

1,768

109,640

214,405

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

500

Ordinary

£1

500

500

8.	OTHER FINANCIAL COMMITMENTS

The company had total other financial commitments at the balance sheet date of £17,500 (2023 £87,500).