Registration number:
Regent Designs Limited
for the Year Ended 31 August 2021
Regent Designs Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Regent Designs Limited
Company Information
Directors |
W R Hammond C M Hammond M J Hammond J R Hammond |
Company secretary |
W R Hammond |
Registered office |
|
Accountants |
|
Regent Designs Limited
(Registration number: 04166237)
Balance Sheet as at 31 August 2021
Note |
2021 |
2020 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investment property |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
96 |
96 |
|
Other reserves |
570,565 |
570,565 |
|
Profit and loss account |
671,062 |
646,377 |
|
Shareholders' funds |
1,241,723 |
1,217,038 |
For the financial year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Regent Designs Limited
(Registration number: 04166237)
Balance Sheet as at 31 August 2021
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Company secretary and director
Regent Designs Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Rental income from properties is recognised in the profit and loss account on a straight line basis over the term of the lease.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Regent Designs Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & machinery |
20% reducing balance |
Motor vehicles |
25% straight line |
Investment property
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Regent Designs Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Motor vehicles |
Other tangible assets |
Total |
|
Cost or valuation |
|||
At 1 September 2020 |
|
|
|
Additions |
|
|
|
Disposals |
( |
- |
( |
At 31 August 2021 |
|
|
|
Depreciation |
|||
At 1 September 2020 |
|
|
|
Charge for the year |
|
|
|
Eliminated on disposal |
( |
- |
( |
At 31 August 2021 |
|
|
|
Carrying amount |
|||
At 31 August 2021 |
|
|
|
At 31 August 2020 |
|
|
|
Investment properties |
2021 |
|
At 1 September 2020 |
|
At 31 August 2021 |
|
The Investment Properties were valued on an open market basis on 16th January 2017 by Andrew Dixon & Company, Chartered Surveyors & Commercial Property Consultants.
The historic cost of the Investment Properties is £509,863.
Regent Designs Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
Debtors |
2021 |
2020 |
|
Trade debtors |
|
|
Prepayments |
|
|
Other debtors |
- |
|
|
|
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
|
Due within one year |
||
Trade creditors |
|
|
Other creditors |
|
|
Taxation and social security |
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
|||
No. |
£ |
No. |
£ |
|
|
|
27 |
|
38 |
|
|
25 |
|
36 |
|
|
22 |
|
22 |
|
|
22 |
- |
- |
|
|
|
|
Related party transactions |
At 31 August 2021 a balance of £21,520 (2020 - £1,600) was owed by the company to the directors, which is included in Other creditors.