8 false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2021 - FRS102_2021 39,900 29,925 1,995 31,920 7,980 9,975 xbrli:pure xbrli:shares iso4217:GBP 03426847 2022-02-01 2023-01-31 03426847 2023-01-31 03426847 2022-01-31 03426847 2021-02-01 2022-01-31 03426847 2022-01-31 03426847 core:NetGoodwill 2022-02-01 2023-01-31 03426847 core:FurnitureFittings 2022-02-01 2023-01-31 03426847 core:MotorVehicles 2022-02-01 2023-01-31 03426847 bus:Director1 2022-02-01 2023-01-31 03426847 core:NetGoodwill 2022-01-31 03426847 core:NetGoodwill 2023-01-31 03426847 core:FurnitureFittings 2022-01-31 03426847 core:MotorVehicles 2022-01-31 03426847 core:FurnitureFittings 2023-01-31 03426847 core:MotorVehicles 2023-01-31 03426847 core:WithinOneYear 2023-01-31 03426847 core:WithinOneYear 2022-01-31 03426847 core:AfterOneYear 2023-01-31 03426847 core:AfterOneYear 2022-01-31 03426847 core:ShareCapital 2023-01-31 03426847 core:ShareCapital 2022-01-31 03426847 core:RetainedEarningsAccumulatedLosses 2023-01-31 03426847 core:RetainedEarningsAccumulatedLosses 2022-01-31 03426847 core:NetGoodwill 2022-01-31 03426847 core:FurnitureFittings 2022-01-31 03426847 bus:SmallEntities 2022-02-01 2023-01-31 03426847 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 03426847 bus:FullAccounts 2022-02-01 2023-01-31 03426847 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 03426847 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31
COMPANY REGISTRATION NUMBER: 03426847
ROMART SUPERSTORES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2023
ROMART SUPERSTORES LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
7,980
9,975
Tangible assets
6
6,364
7,487
--------
--------
14,344
17,462
CURRENT ASSETS
Stocks
93,450
82,161
Debtors
7
5,580
4,811
Cash at bank and in hand
220,785
251,775
---------
---------
319,815
338,747
CREDITORS: amounts falling due within one year
8
( 58,470)
( 77,684)
---------
---------
NET CURRENT ASSETS
261,345
261,063
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
275,689
278,525
CREDITORS: amounts falling due after more than one year
9
( 24,996)
( 34,995)
PROVISIONS
Taxation including deferred tax
( 1,209)
( 1,423)
---------
---------
NET ASSETS
249,484
242,107
---------
---------
CAPITAL AND RESERVES
Called up share capital
4
4
Profit and loss account
249,480
242,103
---------
---------
SHAREHOLDER FUNDS
249,484
242,107
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
ROMART SUPERSTORES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2023
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 September 2023 , and are signed on behalf of the board by:
K. L. Smith
Director
Company registration number: 03426847
ROMART SUPERSTORES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units C, D & E, York Road Shopping Centre, Torre Lane, Leeds, LS9 6TN.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax.
Income tax
Deferred taxation is provided using the liability method on all timing differences, that have originated but not reversed at the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 8 (2022: 8 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 February 2022 and 31 January 2023
39,900
--------
Amortisation
At 1 February 2022
29,925
Charge for the year
1,995
--------
At 31 January 2023
31,920
--------
Carrying amount
At 31 January 2023
7,980
--------
At 31 January 2022
9,975
--------
6. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 February 2022 and 31 January 2023
56,322
8,000
64,322
--------
-------
--------
Depreciation
At 1 February 2022
48,835
8,000
56,835
Charge for the year
1,123
1,123
--------
-------
--------
At 31 January 2023
49,958
8,000
57,958
--------
-------
--------
Carrying amount
At 31 January 2023
6,364
6,364
--------
-------
--------
At 31 January 2022
7,487
7,487
--------
-------
--------
7. DEBTORS
2023
2022
£
£
Other debtors
5,580
4,811
-------
-------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
6,820
7,523
Corporation tax
15,331
33,368
Social security and other taxes
20,560
21,083
Other creditors
1,888
1,425
Other creditors
3,871
4,285
--------
--------
58,470
77,684
--------
--------
9. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
24,996
34,995
--------
--------