Company Registration No. 09110987 (England and Wales)
REGENERATION CATALYST LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2020
PAGES FOR FILING WITH REGISTRAR
REGENERATION CATALYST LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
REGENERATION CATALYST LIMITED
BALANCE SHEET
AS AT
30 JANUARY 2020
30 January 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
552
Current assets
Debtors
4
438,355
635,433
Cash at bank and in hand
17,629
100,974
455,984
736,407
Creditors: amounts falling due within one year
5
(196,433)
(162,262)
Net current assets
259,551
574,145
Total assets less current liabilities
259,551
574,697
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
259,549
574,695
Total equity
259,551
574,697
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
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 31 March 2021 and are signed on its behalf by:
Mr K W Dytor
Director
Company Registration No. 09110987
REGENERATION CATALYST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2020
- 2 -
1
Accounting policies
Company information
Regeneration Catalyst Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
95 Jermyn Street, London, England, SW1Y 6JE.
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 directors have considered the effect of the Covid-19 outbreak. The directors considers that the outbreak is
un
likely to cause a significant disruption to the company’s business and is confident that the company can continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT
.
1.4
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.
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
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
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
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.
1.6
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks.
REGENERATION CATALYST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JANUARY 2020
1
Accounting policies
(Continued)
- 3 -
1.7
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 balance sheet 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 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 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.
Impairment of financial assets
Financial assets, other than those
held
at
fair value through profit and loss
, are assessed for indicators of impairment at each reporting end date.
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.
Basic financial liabilities
Basic financial liabilities, including creditors 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 receipts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised
.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
1.9
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.
REGENERATION CATALYST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JANUARY 2020
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
-
-
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 January 2019 and 30 January 2020
2,205
Depreciation and impairment
At 31 January 2019
1,653
Depreciation charged in the year
552
At 30 January 2020
2,205
Carrying amount
At 30 January 2020
-
At 30 January 2019
552
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
438,355
635,433
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
4,620
7,030
Corporation tax
62,322
106,717
Other taxation and social security
37,734
18,361
Other creditors
89,257
24,772
Accruals and deferred income
2,500
5,382
196,433
162,262
REGENERATION CATALYST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JANUARY 2020
- 5 -
6
Called up share capital
2020
2019
2020
2019
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
7
Events after the reporting date
The directors have considered the effect of the Covid-19 outbreak, that spread throughout the world during 2020, on the company’s activities. This outbreak has caused little disruption to the company’s business prior to the date of approval of these financial statements. The directors do not expect any disruption in the foreseeable future to be significant
.
8
Related party transactions
As at 3
1
January 20
20
, a sum of £
454,740
(20
19
: £
570,156) was due to the company by the directors. This was partially repaid within 9 months of the accounting period end date and included
interest of £
8,420
(201
9
: £
9,230
) calculated at market rate on
directors' loans is due
.