REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
FOR |
ROMS K LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
FOR |
ROMS K LTD |
ROMS K LTD (REGISTERED NUMBER: 09594674) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ROMS K LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Fernwood House |
Fernwood Road |
Jesmond |
Newcastle upon Tyne |
NE2 1TJ |
ROMS K LTD (REGISTERED NUMBER: 09594674) |
BALANCE SHEET |
30 NOVEMBER 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
ROMS K LTD (REGISTERED NUMBER: 09594674) |
BALANCE SHEET - continued |
30 NOVEMBER 2017 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
ROMS K LTD (REGISTERED NUMBER: 09594674) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
1. | STATUTORY INFORMATION |
ROMS K Ltd is a |
company's registered number and registered office address can be found on the Company Information |
page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
The financial statements are rounded to the nearest £1. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis which, in the opinion of the |
director, is the appropriate basis. The company's ability to continue trading is dependent upon the |
ongoing support of its bankers, its director and shareholders and other related parties. In the event that |
the company is unable to continue trading, adjustments would have to be made to reduce the value of |
assets to their recoverable amount, to provide for any liabilities which might arise and to re-classify |
fixed assets and long-term liabilities as current assets and liabilities. |
The significant accounting policies applied in the preparation of these financial statements are set out |
below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
Sale of goods |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of |
the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is |
probable that the economic benefits associated with the transaction will flow to the company and the |
costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually |
at point of sale in respect of cash sales. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
The franchise agreement is being amortised over the period of the agreement of 10 years. |
Tangible fixed assets |
Leasehold improvements | - |
Fixtures and fittings | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation |
and accumulated impairment losses. Cost includes costs directly attributable to making the asset |
capable of operating as intended. |
ROMS K LTD (REGISTERED NUMBER: 09594674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
3. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred 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 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 taxation |
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. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
account in other administrative expenses. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. |
Subsequently, they are measured at amortised cost using the effective interest rate method, less |
impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
Impairment of assets |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's |
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is |
carried at a revalued amount where the impairment loss is a revaluation decrease. |
Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of |
a past event, it is probable that an outflow of economic benefits will be required in settlement and the |
amount can be reliably estimated. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ROMS K LTD (REGISTERED NUMBER: 09594674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 December 2016 |
Additions |
At 30 November 2017 |
AMORTISATION |
At 1 December 2016 |
Charge for year |
At 30 November 2017 |
NET BOOK VALUE |
At 30 November 2017 |
At 30 November 2016 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | and |
improvements | fittings | Totals |
£ | £ | £ |
COST |
At 1 December 2016 |
Additions |
At 30 November 2017 |
DEPRECIATION |
At 1 December 2016 |
Charge for year |
Impairments |
At 30 November 2017 |
NET BOOK VALUE |
At 30 November 2017 |
At 30 November 2016 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
Prepayments and accrued income |
ROMS K LTD (REGISTERED NUMBER: 09594674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to related party |
Social security and other taxes |
Other creditors |
Director's current account | 20,733 | 23,234 |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans due after 5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans due after 5 years | - | 21,507 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Bank loans |
The bank loan is secured on the company's assets. |
11. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 10,401 | 12,444 |
Tax losses carried forward | (10,401 | ) | (12,444 | ) |
- | - |
ROMS K LTD (REGISTERED NUMBER: 09594674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
12. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
Ordinary | £1 | 4 | 4 |
13. | RELATED PARTY DISCLOSURES |
Key management personnel of the entity |
2017 | 2016 |
£ | £ |
Amount due to related party | 20,733 | 23,234 |
Other related parties |
2017 | 2016 |
£ | £ |
Amount due to related party | 240,350 | 140,350 |
No interest is charged on the above loans. |
14. | OTHER FINANCIAL COMMITMENTS |
The total amount of financial commitments, guarantees and contingencies not included in the balance |
sheet as at 30 November 2017 is £626,000 (2016: £698,000). |