IRIS Accounts Production v25.3.0.601 08971686 Board of Directors 1.6.24 31.5.25 31.5.25 false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 08971686 2024-05-31 08971686 2025-05-31 08971686 2024-06-01 2025-05-31 08971686 2023-05-31 08971686 2023-06-01 2024-05-31 08971686 2024-05-31 08971686 ns15:EnglandWales 2024-06-01 2025-05-31 08971686 ns14:PoundSterling 2024-06-01 2025-05-31 08971686 ns10:Director1 2024-06-01 2025-05-31 08971686 ns10:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 08971686 ns10:SmallEntities 2024-06-01 2025-05-31 08971686 ns10:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 08971686 ns10:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 08971686 ns10:FullAccounts 2024-06-01 2025-05-31 08971686 ns10:OrdinaryShareClass2 2024-06-01 2025-05-31 08971686 ns10:OrdinaryShareClass3 2024-06-01 2025-05-31 08971686 ns10:Director2 2024-06-01 2025-05-31 08971686 ns10:Director3 2024-06-01 2025-05-31 08971686 ns10:CompanySecretary1 2024-06-01 2025-05-31 08971686 ns10:RegisteredOffice 2024-06-01 2025-05-31 08971686 ns5:CurrentFinancialInstruments 2025-05-31 08971686 ns5:CurrentFinancialInstruments 2024-05-31 08971686 ns5:Non-currentFinancialInstruments 2025-05-31 08971686 ns5:Non-currentFinancialInstruments 2024-05-31 08971686 ns5:ShareCapital 2025-05-31 08971686 ns5:ShareCapital 2024-05-31 08971686 ns5:RetainedEarningsAccumulatedLosses 2025-05-31 08971686 ns5:RetainedEarningsAccumulatedLosses 2024-05-31 08971686 ns5:PlantMachinery 2024-06-01 2025-05-31 08971686 ns5:MotorVehicles 2024-06-01 2025-05-31 08971686 ns5:LeaseholdImprovements 2024-05-31 08971686 ns5:PlantMachinery 2024-05-31 08971686 ns5:FurnitureFittings 2024-05-31 08971686 ns5:LeaseholdImprovements 2024-06-01 2025-05-31 08971686 ns5:FurnitureFittings 2024-06-01 2025-05-31 08971686 ns5:LeaseholdImprovements 2025-05-31 08971686 ns5:PlantMachinery 2025-05-31 08971686 ns5:FurnitureFittings 2025-05-31 08971686 ns5:LeaseholdImprovements 2024-05-31 08971686 ns5:PlantMachinery 2024-05-31 08971686 ns5:FurnitureFittings 2024-05-31 08971686 ns5:MotorVehicles 2024-05-31 08971686 ns5:ComputerEquipment 2024-05-31 08971686 ns5:ComputerEquipment 2024-06-01 2025-05-31 08971686 ns5:MotorVehicles 2025-05-31 08971686 ns5:ComputerEquipment 2025-05-31 08971686 ns5:MotorVehicles 2024-05-31 08971686 ns5:ComputerEquipment 2024-05-31 08971686 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2024-05-31 08971686 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2024-06-01 2025-05-31 08971686 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2025-05-31 08971686 ns5:LeasedAssetsHeldAsLessee ns5:MotorVehicles 2024-05-31 08971686 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-05-31 08971686 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-05-31 08971686 ns5:DeferredTaxation 2024-05-31 08971686 ns5:DeferredTaxation 2025-05-31 08971686 ns10:OrdinaryShareClass2 2025-05-31 08971686 ns10:OrdinaryShareClass3 2025-05-31

REGISTERED NUMBER: 08971686 (England and Wales)

| REGENCY OILS (WALES) LIMITED |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MAY 2025 |

REGENCY OILS (WALES) LIMITED (REGISTERED NUMBER: 08971686)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

REGENCY OILS (WALES) LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MAY 2025

| DIRECTORS: | Mrs W A Neal

| D Gillespie

| Miss A Gillespie

| SECRETARY: | Mrs W A Neal

| REGISTERED OFFICE: | Churchgate House

| 3 Church Road

| Whitchurch

| Cardiff

| SOUTH GLAMORGAN

| CF14 2DX

| REGISTERED NUMBER: | 08971686 (England and Wales)

REGENCY OILS (WALES) LIMITED (REGISTERED NUMBER: 08971686)

BALANCE SHEET

31 MAY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 352,436 |  | 235,727 |  |

CURRENT ASSETS

Stocks | 5 | 18,250 |  | 18,250 |  |

Debtors | 6 | 652,630 |  | 592,975 |  |

Cash at bank and in hand | 132,762 |  | 129,517 |  |

803,642 |  | 740,742 |  |

CREDITORS

Amounts falling due within one year | 7 | 304,000 |  | 405,900 |  |

NET CURRENT ASSETS | 499,642 |  | 334,842 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 852,078 |  | 570,569 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (243,536 | ) | (67,948 | ) |

PROVISIONS FOR LIABILITIES | 10 | (66,910 | ) | (28,267 | ) |

NET ASSETS | 541,632 |  | 474,354 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 100 |  | 100 |  |

Retained earnings | 541,532 |  | 474,254 |  |

SHAREHOLDERS' FUNDS | 541,632 |  | 474,354 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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.

REGENCY OILS (WALES) LIMITED (REGISTERED NUMBER: 08971686)

BALANCE SHEET - continued

31 MAY 2025

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 27 October 2025 and were signed on its behalf by:

Mrs W A Neal - Director

REGENCY OILS (WALES) LIMITED (REGISTERED NUMBER: 08971686)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1. | STATUTORY INFORMATION

| Regency Oils (Wales) 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Going concern

| The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

| At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

| Significant judgements and estimates

| In the application of the company's accounting policies, which are described in note above, 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 these 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.

| Turnover

| Turnover is measured as the fair value of the consideration received or receivable, excluding Value Added Tax and other sales-related taxes. It is recognised when the significant risks and rewards of ownership have been transferred to the customer, the amount of turnover can be measured reliably, and it is probable that the economic benefits associated with the transaction will flow to the company. For the recycling and sale of waste oil, revenue is recognised when the waste oil is delivered to the customer and the customer has accepted the goods. Where acceptance provisions are part of the contract, revenue is recognised once criteria have been satisfied.

REGENCY OILS (WALES) LIMITED (REGISTERED NUMBER: 08971686)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

2. | ACCOUNTING POLICIES - continued

| 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 | - | 15% on cost

| Motor vehicles | - | 20% on cost

| Stocks

| Stocks are valued at the lower of cost and selling price less costs to sell, 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 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.

| 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.

| 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.

REGENCY OILS (WALES) LIMITED (REGISTERED NUMBER: 08971686)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

2. | ACCOUNTING POLICIES - continued

| Employee benefits

| Short-term employee benefits are recognised as an expense in the period in which they are incurred.

| The cost of any unused holiday entitlement is recognised in the period in which the employee's

| services are received.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Financial instruments

| The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

| Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

| Basic financial liabilities

| Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired. at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

| Provisions

| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

REGENCY OILS (WALES) LIMITED (REGISTERED NUMBER: 08971686)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 14 (2024 - 14 ) .

4. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures

| to |  | Plant and |  | and

| property |  | machinery |  | fittings

£ | £ | £ |

| COST

| At 1 June 2024 | 38,090 |  | 60,045 |  | 33,139 |  |

| Additions | - |  | 54,239 |  | - |  |

| At 31 May 2025 | 38,090 |  | 114,284 |  | 33,139 |  |

| DEPRECIATION

| At 1 June 2024 | - |  | 21,252 |  | 12,488 |  |

| Charge for year | 3,809 |  | 12,117 |  | 4,130 |  |

| At 31 May 2025 | 3,809 |  | 33,369 |  | 16,618 |  |

| NET BOOK VALUE

| At 31 May 2025 | 34,281 |  | 80,915 |  | 16,521 |  |

| At 31 May 2024 | 38,090 |  | 38,793 |  | 20,651 |  |

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 June 2024 | 353,606 |  | 9,203 |  | 494,083 |  |

| Additions | 109,607 |  | 1,406 |  | 165,252 |  |

| At 31 May 2025 | 463,213 |  | 10,609 |  | 659,335 |  |

| DEPRECIATION

| At 1 June 2024 | 216,811 |  | 7,805 |  | 258,356 |  |

| Charge for year | 28,269 |  | 218 |  | 48,543 |  |

| At 31 May 2025 | 245,080 |  | 8,023 |  | 306,899 |  |

| NET BOOK VALUE

| At 31 May 2025 | 218,133 |  | 2,586 |  | 352,436 |  |

| At 31 May 2024 | 136,795 |  | 1,398 |  | 235,727 |  |

REGENCY OILS (WALES) LIMITED (REGISTERED NUMBER: 08971686)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

4. | TANGIBLE FIXED ASSETS - continued

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

| Motor

| vehicles

£ |

| COST

| At 1 June 2024 | 235,975 |  |

| Additions | 109,607 |  |

| At 31 May 2025 | 345,582 |  |

| DEPRECIATION

| At 1 June 2024 | 144,607 |  |

| Charge for year | 19,183 |  |

| At 31 May 2025 | 163,790 |  |

| NET BOOK VALUE

| At 31 May 2025 | 181,792 |  |

| At 31 May 2024 | 91,368 |  |

5. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 18,250 |  | 18,250 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 70,753 |  | 34,764 |  |

| Other debtors | 581,877 |  | 558,211 |  |

652,630 |  | 592,975 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 34,559 |  | 10,648 |  |

| Hire purchase contracts | 44,893 |  | 32,544 |  |

| Trade creditors | - |  | 43,372 |  |

| Taxation and social security | 143,698 |  | 177,110 |  |

| Other creditors | 80,850 |  | 142,226 |  |

304,000 |  | 405,900 |  |

REGENCY OILS (WALES) LIMITED (REGISTERED NUMBER: 08971686)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 120,058 |  | - |  |

| Hire purchase contracts | 123,478 |  | 57,840 |  |

| Other creditors | - |  | 10,108 |  |

243,536 |  | 67,948 |  |

9. | SECURED DEBTS

| The company's bankers hold a fixed and floating charge including a negative pledge over all company properties and undertaking.

10. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 66,910 |  | 28,267 |  |

| Deferred |

| tax |

£ |

| Balance at 1 June 2024 | 28,267 |  |

| Accelerated capital allowances | 38,643 |  |

| Balance at 31 May 2025 | 66,910 |  |

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 30 | Ordinary A | £1 | 30 |  | 30 |  |

| 70 | Ordinary B | £1 | 70 |  | 70 |  |

100 |  | 100 |  |

12. | OTHER FINANCIAL COMMITMENTS

| At the reporting date the company had outstanding commitments for future lease payments under non-cancellable operating leases of £14,400 (2024- £14,400) which fall due within 12 months.

13. | TRANSACTIONS WITH THE DIRECTORS

| During the year two of the directors maintained interest free loans with the company. The amount owed to the directors at 31 May 2025 was £37,958 (2024: £87,518) and is included within creditors respectively.