REGISTERED NUMBER: 10587405 (England and Wales)

REGAL HOMES SOUTH LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C K Hoyland

Mrs D Zaczyk

REGISTERED OFFICE:

96 Market Street

Eastleigh

Hampshire

SO50 5RE

REGISTERED NUMBER:

10587405 (England and Wales)

ACCOUNTANTS:

Hopper Williams & Bell Limited

Chartered Accountants

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR

FIXED ASSETS

Tangible assets

4

39,152

49,398

CURRENT ASSETS

Stocks

3,024,667

2,484,543

Debtors

5

1,006,455

702,074

Cash at bank

6,859

135,355

4,037,981

3,321,972

CREDITORS

Amounts falling due within one year

6

(3,845,287

)

(3,024,869

)

NET CURRENT ASSETS

192,694

297,103

TOTAL ASSETS LESS CURRENT LIABILITIES

231,846

346,501

CREDITORS

Amounts falling due after more than one year

7

(179,903

)

(188,033

)

NET ASSETS

51,943

158,468

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

51,843

158,368

51,943

158,468

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

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

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 22 December 2025 and were signed on its behalf by:

C K Hoyland - Director

1.	STATUTORY INFORMATION

Regal Homes South Ltd 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 FRS102 "The Financial Reporting Standards 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 FRS102 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 amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover represents amounts receivable on the sale of development properties, net of VAT and trade discounts, and is recognised on the completion of a sale of property.

Rental income is recognised on a receivable basis.

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

-

25% Reducing balance

Motor vehicles

-

20% Reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

Work in progress comprising development property is valued at the lower of cost and net realisable value. Cost comprises purchase price and directly attributable costs.

Taxation

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

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

Financial assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

680

64,890

4,335

69,905

DEPRECIATION

At 1 April 2024

519

16,439

3,549

20,507

Charge for year

40

9,690

516

10,246

At 31 March 2025

559

26,129

4,065

30,753

NET BOOK VALUE

At 31 March 2025

121

38,761

270

39,152

At 31 March 2024

161

48,451

786

49,398

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,006,455

702,074

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

8,123

7,282

Trade creditors

27,069

30,208

Taxation and social security

31,061

68,688

Other creditors

3,779,034

2,918,691

3,845,287

3,024,869

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

179,903

188,033

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

163,507

163,507

163,507

163,507

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

188,026

195,315

Other loans

2,721,500

1,633,456

2,909,526

1,828,771

The above loans are secured by a charge on the land to which they relate.

9.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases which totalled £9,895 (2024: £17,335).