Company Registration No. 12207371 (England and Wales)
Regency Property Services Limited (formerly Regency Asset Management Ltd)
Financial statements
for the year ended 31 March 2025
Pages for filing with the registrar
Regency Property Services Limited (formerly Regency Asset Management Ltd)
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 10
Regency Property Services Limited (formerly Regency Asset Management Ltd)
Statement of financial position
As at 31 March 2025
31 March 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
6
376,743
445,245
Tangible assets
7
61,837
15,953
438,580
461,198
Current assets
Debtors
8
1,606,847
688,729
Cash at bank and in hand
30,938
39,876
1,637,785
728,605
Creditors: amounts falling due within one year
9
(2,427,249)
(1,029,943)
Net current liabilities
(789,464)
(301,338)
Net (liabilities)/assets
(350,884)
159,860
Capital and reserves
Called up share capital
11
300
300
Profit and loss reserves
(351,184)
159,560
Total equity
(350,884)
159,860

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 5 December 2025 and are signed on its behalf by:
John Hunt
Director
Company Registration No. 12207371
Regency Property Services Limited (formerly Regency Asset Management Ltd)
Notes to the financial statements
For the year ended 31 March 2025
2
1
Accounting policies
Company information

Regency Property Services Limited (formerly Regency Asset Management Ltd) is a private company limited by shares incorporated in England and Wales. The registered office is 21-24 Millbank Tower, 17th Floor, London, SW1P 4QP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has prepared cash flow forecasts covering a 12 month period from the date of approval of these financial statements. In preparing these forecasts, the company has considered the principal areas of uncertainty within the forecasts and the underlying assumptions, in particular those relating to market risks, cost management and working capital management. Specifically, the forecasts also consider as far as possible the impact of the current cost of living crisis and macro-economic factors. These forecasts show that the company continues to have sufficient levels of cash for the forecast period.true

Accordingly, the financial statements have been prepared on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from annual contracts are recognised on a monthly basis in arrears for services completed in that specific month.

Revenue from ad-hoc services completed on a quote-by-quote basis is recognised upon completion of the work performed.

1.4
Intangible fixed assets - goodwill

Goodwill arising on the acquisition of t rade and assets represents the excess of the fair value of the consideration over the fair value of the identifiable assets and liabilities acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Regency Property Services Limited (formerly Regency Asset Management Ltd)
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
3

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position 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 realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

Regency Property Services Limited (formerly Regency Asset Management Ltd)
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
4
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Regency Property Services Limited (formerly Regency Asset Management Ltd)
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
5
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Recoverability of trade debtors

The company establishes a provision for debtors that are estimated not to be recoverable. When assessing recoverability the directors have considered factors such as the ageing of the debtors, past experience of recoverability and the credit profile of customers.

Goodwill and intangible assets

The company establishes a reliable estimate of the useful life of goodwill and intangible assets. This estimate is based on the expected use of the acquired business.

Recoverability of intercompany balances

Management regularly assess balances due between group entities and whether these are recoverable. Where it is considered that the future cash flows of these debts are less than the carrying amount in the individual company financial statements, appropriate provisions are made against these balances to reflect the recoverability of the asset.

Regency Property Services Limited (formerly Regency Asset Management Ltd)
Notes to the financial statements (continued)
For the year ended 31 March 2025
6
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
37
27
4
Directors' remuneration
2025
2024
£
£
Remuneration paid to directors
111,238
89,331
5
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
40,290
Deferred tax
Origination and reversal of timing differences
185,863
(189,285)
Total tax charge/(credit)
185,863
(148,995)

The actual charge/(credit) for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
(Loss)/profit before taxation
(324,880)
73,698
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
(81,220)
18,425
Tax effect of expenses that are not deductible in determining taxable profit
13,332
15,062
Tax effect of income not taxable in determining taxable profit
-
0
(15,446)
Group relief
48,251
-
0
Movement in deferred tax not recognised
77,063
(167,036)
Fixed asset differences
128,437
-
0
Taxation charge/(credit) for the year
185,863
(148,995)
Regency Property Services Limited (formerly Regency Asset Management Ltd)
Notes to the financial statements (continued)
For the year ended 31 March 2025
7
6
Intangible fixed assets
Other intangibles
£
Cost
At 1 April 2024 and 31 March 2025
685,000
Amortisation and impairment
At 1 April 2024
239,755
Amortisation charged for the year
68,502
At 31 March 2025
308,257
Carrying amount
At 31 March 2025
376,743
At 31 March 2024
445,245
7
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2024
4,706
22,004
26,710
Additions
2,379
56,831
59,210
At 31 March 2025
7,085
78,835
85,920
Depreciation and impairment
At 1 April 2024
1,824
8,933
10,757
Depreciation charged in the year
1,552
11,774
13,326
At 31 March 2025
3,376
20,707
24,083
Carrying amount
At 31 March 2025
3,709
58,128
61,837
At 31 March 2024
2,882
13,071
15,953
Regency Property Services Limited (formerly Regency Asset Management Ltd)
Notes to the financial statements (continued)
For the year ended 31 March 2025
8
8
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,384,715
307,396
Amounts owed by group undertakings
120,532
3,683
Other debtors
98,178
188,365
1,603,425
499,444
Deferred tax asset
3,422
189,285
1,606,847
688,729
9
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
114,668
20,745
Amounts owed to group undertakings
1,027,663
413,828
Corporation tax
-
0
40,290
Other taxation and social security
210,776
143,711
Other creditors
1,074,142
411,369
2,427,249
1,029,943

As at the year end the company has outstanding fixed and floating charges held against their assets.

10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2025
2024
Balances:
£
£
Accelerated capital allowances
(15,426)
184,387
Short term timing differences
18,848
4,898
3,422
189,285
Regency Property Services Limited (formerly Regency Asset Management Ltd)
Notes to the financial statements (continued)
For the year ended 31 March 2025
10
Deferred taxation (continued)
9
2025
Movements in the year:
£
Asset at 1 April 2024
(189,285)
Charge to profit or loss
185,863
Asset at 31 March 2025
(3,422)

The deferred tax asset set out above is expected to reverse within 12 months and relates to fixed asset timing differences.

11
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
300
300
300
300
12
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Jamie Cassell
Statutory Auditors:
Saffery LLP
Date of audit report:
5 December 2025
13
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
52,075
-
0
Regency Property Services Limited (formerly Regency Asset Management Ltd)
Notes to the financial statements (continued)
For the year ended 31 March 2025
10
14
Related party transactions

The Company has taken advantage of the exemption under FRS 102 paragraph 33 from disclosing transactions with companies wholly owned within the wider group.

As at the year ended 31 March 2024 the company was owed £nil (2024: £3,683) from a connected company controlled by a common director. During the year the company made sales of £4,500 (2024: £18,000) to this related party.

During the year the company made sales of £750 (2024: £nil) to a connected company controlled by a common director. £375 (2024; £nil) has been recognised as revenue and £375 (2024:£nil) has been recognised as deferred revenue in the year.

During the year a loan of £920 (2024: £nil) was made to a director. This was written off during the year.

15
Parent company

The ultimate parent undertaking is Piccadilly Holdco Limited, a company registered in England and Wales. Its registered address is 21-24 Millbank Tower, 17th Floor, London, SW1P 4QP.

The ultimate controlling party is Key Capital Partners.

2025-03-31 2024-04-01 false false false 05 December 2025 CCH Software CCH Accounts Production 2024.301 No description of principal activity Philip Dale Adrian Deane Sam Prett Rejaul Islam John Hunt Simon Dickinson 2025-12-05 12207371 2024-04-01 2025-03-31 12207371 2025-03-31 12207371 2024-03-31 12207371 core:NetGoodwill 2025-03-31 12207371 core:NetGoodwill 2024-03-31 12207371 core:FurnitureFittings 2025-03-31 12207371 core:ComputerEquipment 2025-03-31 12207371 core:FurnitureFittings 2024-03-31 12207371 core:ComputerEquipment 2024-03-31 12207371 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 12207371 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12207371 core:CurrentFinancialInstruments 2025-03-31 12207371 core:CurrentFinancialInstruments 2024-03-31 12207371 core:ShareCapital 2025-03-31 12207371 core:ShareCapital 2024-03-31 12207371 core:RetainedEarningsAccumulatedLosses 2025-03-31 12207371 core:RetainedEarningsAccumulatedLosses 2024-03-31 12207371 bus:Director5 2024-04-01 2025-03-31 12207371 core:Goodwill 2024-04-01 2025-03-31 12207371 core:FurnitureFittings 2024-04-01 2025-03-31 12207371 core:ComputerEquipment 2024-04-01 2025-03-31 12207371 2023-04-01 2024-03-31 12207371 core:UKTax 2024-04-01 2025-03-31 12207371 core:UKTax 2023-04-01 2024-03-31 12207371 1 2024-04-01 2025-03-31 12207371 1 2023-04-01 2024-03-31 12207371 2 2024-04-01 2025-03-31 12207371 2 2023-04-01 2024-03-31 12207371 core:NetGoodwill 2024-03-31 12207371 core:NetGoodwill 2024-04-01 2025-03-31 12207371 core:FurnitureFittings 2024-03-31 12207371 core:ComputerEquipment 2024-03-31 12207371 2024-03-31 12207371 core:WithinOneYear 2025-03-31 12207371 core:WithinOneYear 2024-03-31 12207371 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12207371 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12207371 bus:FRS102 2024-04-01 2025-03-31 12207371 bus:Audited 2024-04-01 2025-03-31 12207371 bus:Director1 2024-04-01 2025-03-31 12207371 bus:Director2 2024-04-01 2025-03-31 12207371 bus:Director3 2024-04-01 2025-03-31 12207371 bus:Director4 2024-04-01 2025-03-31 12207371 bus:Director6 2024-04-01 2025-03-31 12207371 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP