Regent Developments (Midlands) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02310896

Regent Developments (Midlands) Limited

Filleted Unaudited Financial Statements

31 December 2024

Regent Developments (Midlands) Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	254,486	268,978

Current assets

Stocks		406,000	198,000
Debtors	6	51,695	51,902
Cash at bank and in hand		22,612	213,441
		----------	----------
		480,307	463,343

Creditors: amounts falling due within one year	7	239,140	252,552
		----------	----------
Net current assets		241,167	210,791
		----------	----------
Total assets less current liabilities		495,653	479,769

Creditors: amounts falling due after more than one year	8	6,135	15,833

Provisions

Taxation including deferred tax	( 583)	854
	----------	----------
Net assets	490,101	463,082
	----------	----------

Capital and reserves

Called up share capital	140,000	140,000
Profit and loss account	350,101	323,082
	----------	----------
Shareholders funds	490,101	463,082
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Regent Developments (Midlands) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

K L Tilson-Brown

Director

Company registration number: 02310896

Regent Developments (Midlands) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Regent House, Ascot Drive, Derby, DE24 8HA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on the going concern basis, on the understanding that the directors and bank will continue to financially support the company for the foreseeable future.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property Improvements	-	5% straight line
Plant and Machinery	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Computer Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 5 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	286,012	147,124	52,700	716	486,552
Additions	–	135	–	–	135
	----------	----------	---------	----	----------
At 31 December 2024	286,012	147,259	52,700	716	486,687
	----------	----------	---------	----	----------
Depreciation
At 1 January 2024	46,731	131,022	39,105	716	217,574
Charge for the year	7,167	4,060	3,400	–	14,627
	----------	----------	---------	----	----------
At 31 December 2024	53,898	135,082	42,505	716	232,201
	----------	----------	---------	----	----------
Carrying amount
At 31 December 2024	232,114	12,177	10,195	–	254,486
	----------	----------	---------	----	----------
At 31 December 2023	239,281	16,102	13,595	–	268,978
	----------	----------	---------	----	----------

6. Debtors

	2024	2023
	£	£
Trade debtors	60	1,032
Other debtors	51,635	50,870
	---------	---------
	51,695	51,902
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	140,919	130,041
Corporation tax	6,999	6,999
Social security and other taxes	9,449	21,298
Directors current accounts	14,651	26,047
Other creditors	1,186	2,231
Other creditors	55,936	55,936
	----------	----------
	239,140	252,552
	----------	----------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	6,135	15,833
	-------	---------

9. Related party transactions

The company is controlled by Mrs K L Tilson Brown, by virtue of her majority holding of ordinary shares in the company. The directors have lent money to the company on an interest free unsecured basis. The amount outstanding on this loan at the year end was £14,651 (2023 : £26,047).