REGISTERED NUMBER: |
REGENT CAPITAL HOLDINGS LIMITED |
Unaudited Financial Statements |
for the Year Ended 30 June 2022 |
REGISTERED NUMBER: |
REGENT CAPITAL HOLDINGS LIMITED |
Unaudited Financial Statements |
for the Year Ended 30 June 2022 |
REGENT CAPITAL HOLDINGS LIMITED (REGISTERED NUMBER: 09587891) |
Contents of the Financial Statements |
for the year ended 30 June 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
REGENT CAPITAL HOLDINGS LIMITED |
Company Information |
for the year ended 30 June 2022 |
Directors: |
Registered office: |
Registered number: |
REGENT CAPITAL HOLDINGS LIMITED (REGISTERED NUMBER: 09587891) |
Balance Sheet |
30 June 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 8 |
Retained earnings | 9 |
Shareholders' funds |
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. |
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 |
REGENT CAPITAL HOLDINGS LIMITED (REGISTERED NUMBER: 09587891) |
Notes to the Financial Statements |
for the year ended 30 June 2022 |
1. | Statutory information |
Regent Capital Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
These financial statements have been prepared on a going concern basis. |
The directors have reviewed and considered relevant information, including the annual budget, cash-flows, and risks, including an assessment of uncertainty on future trading projections for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. |
The directors have concluded that they have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about Regent Capital Holdings Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
(a) Critical judgements in applying the Company's accounting policies |
The Company makes a number of assessments which require judgement in preparing the accounts and can have a significant effect upon the financial statements. However due to the straight forward nature of the Company's business, management does not believe that there are any judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
(b) Key accounting estimates and assumptions |
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. However due to the straight forward nature of the Company's business, management does not believe that there are any estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
REGENT CAPITAL HOLDINGS LIMITED (REGISTERED NUMBER: 09587891) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2022 |
3. | Accounting policies - continued |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, loans and borrowings. The Company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full. |
Financial assets and liabilities - classified as basic financial instruments |
(i) Cash and cash equivalents |
This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. |
(ii) Trade and other receivables |
Trade and other receivables are initially recognised at the transaction price, including any transaction costs and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. |
At the end of each reporting period, the Company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the income statement. |
(iii) Equity investments |
Equity investments comprise ordinary shares. Any equity investments held are initially recognised at fair value, which is the transaction price excluding transaction costs and are subsequently measured at fair value through profit or loss. |
(iv) Trade and other payables and loans and borrowings |
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method when appropriate. |
Taxation |
Taxation for the year comprises current tax. 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 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. |
4. | Employees and directors |
The average number of employees during the year was NIL (2021 - NIL). |
REGENT CAPITAL HOLDINGS LIMITED (REGISTERED NUMBER: 09587891) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2022 |
5. | Fixed asset investments |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Cost or valuation |
At 1 July 2021 | 765,866 |
Additions | 265,806 |
Disposals | ( |
) | (79,082 | ) |
Revaluations | ( |
) | (48,501 | ) |
At 30 June 2022 | 904,089 |
Net book value |
At 30 June 2022 | 904,089 |
At 30 June 2021 | 765,866 |
Cost or valuation at 30 June 2022 is represented by: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2022 | 120,004 | 61,807 | 181,811 |
Cost | - | 722,278 | 722,278 |
120,004 | 784,085 | 904,089 |
6. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Amounts owed by group undertakings |
7. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
REGENT CAPITAL HOLDINGS LIMITED (REGISTERED NUMBER: 09587891) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2022 |
9. | Reserves |
Retained |
earnings |
£ |
At 1 July 2021 |
Deficit for the year | ( |
) |
At 30 June 2022 |
10. | Related party disclosures |
Included in debtors are amounts totalling £1,889,298 (2021: £1,323,798) and £1,038,548 (2021: £820,048) each owed to entities with a significant holding in the Company.The balances are unsecured, interest-free, and repayable on demand. |
Included in creditors is an amount of £21,633 (2020: £21,633) owed to the directors, being working capital introduced. The balance is unsecured, interest-free, and repayable on demand. |
Included in creditors is a balance of £1,102,000 (2021: £565,000) owed to an entity controlled by the Company. The balance is unsecured, interest-free, and repayable on demand. |