ACCOUNTS - Final Accounts preparation

Company Registration Number: 14955540

RE:GEN NORTH WEST LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

31 MARCH 2025

RE:GEN NORTH WEST LIMITED

REGISTERED NUMBER: 14955540

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets			12,773		-
			12,773		-
Current assets
Debtors: amounts falling due within one year	5	2,338,422		23,361
Cash at bank and in hand	6	-		28,763
		2,338,422		52,124
Creditors: amounts falling due within one year	7	(2,626,962)		(334,063)
Net current liabilities			(288,540)		(281,939)
Total assets less current liabilities			(275,767)		(281,939)

Net liabilities			(275,767)		(281,939)

Capital and reserves
Called up share capital	1	1
Share reserve	37,771	-
Profit and loss account	(313,539)	(281,940)
	(275,767)	(281,939)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G L Francis	R B Sheridan
Director	Director

Date: 22 December 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

RE:GEN NORTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Re:Gen North West Limited is a private company limited by shares incorporated in England. The address of the registered office and principal place of business is Regen House 3 Azure Court, Doxford International Business Park, Sunderland, England, SR3 3BE.

The company's principal activity is the construction of domestic buildings.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

Management and the Directors have considered a period of at least twelve months from the date of sign off when making their assessment with regards to going concern. After consideration of all factors, including review of forecasted future profitability, pipeline of work, and wider economic conditions, the Directors have continued to adopt the going concern basis in preparing the financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Construction Contracts

When the outcome of a construction contract can be estimated reliably in terms of its stage of completion, future costs to complete and collectability of billings, the group recognises revenue and expenses on the construction contract by reference to the stage of completion of the contract activity at the end of the reporting period. The stage of completion is determined on the basis of the proportion of the contract costs incurred to date over the estimated total costs.

When the outcome of a contract cannot be estimated reliably the group only recognises revenue to the extent of the recoverable contract costs incurred.

Page 2

RE:GEN NORTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

RE:GEN NORTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-	15%	straight line
Office equipment	-	25%	straight line
Other fixed assets	-	25%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 4

RE:GEN NORTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.13

Share-based payments

Where share options are awarded to employees, the fair value of the options at the grant date is charged to the profit or loss over the vesting period. Non-market vesting conditions are taken into accounts by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options. The cumulative expense is not adjusted for failure to achieve market vesting conditions.

Employees

The average monthly number of employees, including directors, during the year was 12 (2024 - 6).

4.	Tangible fixed assets

	Long-term leasehold property	Office equipment	Other fixed assets	Total
	£	£	£	£
Cost or valuation
Additions	10,708	1,695	2,560	14,963
At 31 March 2025	10,708	1,695	2,560	14,963
Depreciation
Charge for the year on owned assets	1,339	318	533	2,190
At 31 March 2025	1,339	318	533	2,190
Net book value
At 31 March 2025	9,369	1,377	2,027	12,773
At 31 March 2024	-	-	-	-

Page 5

RE:GEN NORTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	1,006,739	16,903
Amounts owed by group undertakings	-	1
Other debtors	28,951	1,400
Prepayments and accrued income	1,203	-
Amounts recoverable on long-term contracts	1,298,784	-
Deferred taxation	2,745	5,057
	2,338,422	23,361

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	-	28,763
Less: bank overdrafts	(164,484)	-

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	164,484	-
Trade creditors	722,276	2,840
Amounts owed to group undertakings	526,772	300,522
Corporation tax	7,627	-
Other taxation and social security	199,567	19,852
Other creditors	13,313	2,398
Accruals and deferred income	992,923	8,451
	2,626,962	334,063

Reserves

Share reserve

This reserve represents the movement on the share options.

Profit and loss account

This reserve represents cumulative profits and losses.

Page 6

RE:GEN NORTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Share-based payments

RE:GEN North West Limited has a share-based payment scheme at 31 March 2025. Management have used the Monte Carlo model to value the share option expense for the schemes.

Equity-Settled share option plans
Under these plans, certain employees are granted options to acquire shares in the company. These options vest over various periods subject to the employees continued service. At the beginning of the period, there were no share options brought forward. During the year, 2,200 share options were granted and no options were exercised during the year. At the balance sheet date there were 2,200 options with employees under the equity-settled share schemes. The total expense recognised in the profit & loss in respect of these schemes in the year was £37,771.

Input variables used to value the shares:
Share price £77.75
Vesting period 4 years
Volatility 35.0%
Risk free rate 4.20%

10.	Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £32,169 (2024 - £10,525). Contributions totalling £13,313 (2024- £2,398) were payable to the fund at the reporting date.

11.	Related party transactions
	The company has taken the exemptions not to disclose transactions with its parent company or fellow wholly owned subsidiaries.

12.	Controlling party

This company's parent undertaking is RE:GEN Group Ltd, a company registered in England, company
number 14783030. Its registered office address is Regen House 3 Azure Court, Doxford International
Business Park, Sunderland, England, SR3 3BE.

The consolidated accounts of RE:GEN Group Ltd, which include RE:GEN North West Limited, are available to the public and may be obtained from the Register of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.

13.	Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 23 December 2025 by Simon Turner (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

Page 7