REGISTERED NUMBER: 14839680 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

REGO PROPERTY (SOUTHSEA) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A Coleman

Mr R Mellett

Mr P Stewart

Mr F Yeganeh

SECRETARY:

Mr A Coleman

REGISTERED OFFICE:

The Queens Hotel Clarence Parade

Osborne Road

Portsmouth

Hampshire

PO5 3LJ

REGISTERED NUMBER:

14839680 (England and Wales)

AUDITORS:

Lewis Brownlee (Chichester) Limited

Statutory Auditors

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

CURRENT ASSETS

Stocks

4

349,727

211,811

Debtors

5

8,554

2,102

Cash at bank

1,558

20,781

359,839

234,694

CREDITORS

Amounts falling due within one year

6

362,767

235,600

NET CURRENT LIABILITIES

(2,928

)

(906

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,928

)

(906

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(2,930

)

(908

)

(2,928

)

(906

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2025 and were signed on its behalf by:

Mr F Yeganeh - Director

1.	STATUTORY INFORMATION

Rego Property (Southsea) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Comparative period

The financial statements for the comparative period were prepared for an 11 month period, therefore the prior period balances are not directly comparable.

Going concern

The financial statements have been prepared on a going concern basis.

The company is reliant on the continued support of the group's directors, investors and bankers and fellow group companies to continue trading. The directors are of the opinion that the company can continue to trade with their ongoing support and therefore the going concern basis remains applicable for at least 12 months following the date of approval of the financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 section 1A. Basic financial instruments are recognised at amortised cost using effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.

STOCKS

2025

2024

£

£

Work-in-progress

349,727

211,811

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

8,554

2,102

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

13,967

30,600

Amounts owed to group undertakings

245,000

-

Amounts owed to joint ventures

-

204,000

Other creditors

103,800

1,000

362,767

235,600

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

The prior year financial statements and therefore the corresponding figures, being the period ended 31 March 2024, were not audited.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)

for and on behalf of Lewis Brownlee (Chichester) Limited

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £102,000 (2024: £102,000) to an entity under the control of certain directors of the company. The balance is interest free with no fixed repayment date but is repayable on demand.

9.	PARENT COMPANY

The immediate and ultimate parent undertaking is 104 Limited, a company incorporated in England and Wales.

The company’s results are included in the consolidated accounts of 104 Limited. The registered office of 104 Limited is The Queens Hotel, Clarence Parade, Southsea, Hampshire, P05 3LJ, from which copies of the accounts can be obtained.