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REGISTERED NUMBER: 06898485 (England and Wales)


















AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 30 JANUARY 2022 TO 28 JANUARY 2023

FOR

ROOMES (UPMINSTER) LTD

ROOMES (UPMINSTER) LTD (REGISTERED NUMBER: 06898485)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 30 JANUARY 2022 TO 28 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ROOMES (UPMINSTER) LTD

COMPANY INFORMATION
FOR THE PERIOD 30 JANUARY 2022 TO 28 JANUARY 2023







DIRECTORS: B H Dreesmann
N C C Blow


SECRETARY: T James


REGISTERED OFFICE: 472-488 Brixton Road
Brixton
London
SW9 8EH


REGISTERED NUMBER: 06898485 (England and Wales)


SENIOR STATUTORY AUDITOR: Andrew Green LLB FCA


AUDITORS: THP Limited
Chartered Accountants
and Statutory Auditors
34-40 High Street
Wanstead
London
E11 2RJ


BANKERS: Barclays Bank PLC
Clapham Common Group
83 Wandsworth High Street
London
SW18 2PR

ROOMES (UPMINSTER) LTD (REGISTERED NUMBER: 06898485)

BALANCE SHEET
28 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 550,125 132,149
550,125 132,149

CURRENT ASSETS
Stocks 1,274,075 792,233
Debtors 7 48,995 34,044
Cash at bank 332,214 1,288,994
1,655,284 2,115,271
CREDITORS
Amounts falling due within one year 8 654,676 757,964
NET CURRENT ASSETS 1,000,608 1,357,307
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,550,733

1,489,456

PROVISIONS FOR LIABILITIES 107,871 -
NET ASSETS 1,442,862 1,489,456

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Retained earnings 942,862 989,456
SHAREHOLDERS' FUNDS 1,442,862 1,489,456

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 26 May 2023 and were signed on its behalf by:





N C C Blow - Director


ROOMES (UPMINSTER) LTD (REGISTERED NUMBER: 06898485)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 30 JANUARY 2022 TO 28 JANUARY 2023


1. STATUTORY INFORMATION

Roomes (Upminster) Ltd is a private company, limited by shares , registered in England and Wales. The 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 (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and value added taxes.

Sales of goods are recognised on sale to the customer, which is considered to be the point of sale or delivery and when the significant risks and rewards of the goods have been passed to the customer.

Goodwill
Goodwill, being the amount paid in connection with the purchase of a business in 2009, has now been fully amortised over its estimate useful life of 5 years.

Tangible fixed assets
Tangible Fixed Assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost of Tangible Fixed Assets, less their estimated residual value, over their estimated useful lives at the following rates:

Fixtures & Fittings- 12.5% - 16.67% on cost
Equipment- 16.67% on cost
Computer Equipment- 33% on cost
Motor Vehicles- 25% on cost

Fixtures and Fittings over 15 years old and Equipment over 10 years old are eliminated from fixed assets, except in instances where they are known to be still in use.

Items costing less than £500 are not capitalised but written off to the Profit and Loss Account as incurred.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for impairment of obsolete or slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on an average cost basis. Cost includes the purchase price, including taxes and duties, transport and all other costs directly attributable to bringing the stock to its present location and condition.

ROOMES (UPMINSTER) LTD (REGISTERED NUMBER: 06898485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JANUARY 2022 TO 28 JANUARY 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company has chosen to adopt Sections 11 and 12 of FRS102 in respect of financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently carried at this value less any provision for impairment.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet represent cash at bank and in hand.

Short-term debtors and creditors
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 profit or loss under operating expenses.

The carrying value of all short-term financial assets and liabilities are measured at amortised cost.

Taxation
Taxation for the period 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 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 period 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.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits
The company provides a range of benefits to employees, including paid holiday arrangements and a group personal pension plan.

(i) Short Term Benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

(ii) Defined Contribution Pension Scheme
The company operates a group personal pension plan for its employees. A defined contribution scheme is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown as a creditor on the balance sheet. The assets of the scheme are held separately from the company in independently administered funds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 65 (2022 - 62 ) .

ROOMES (UPMINSTER) LTD (REGISTERED NUMBER: 06898485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JANUARY 2022 TO 28 JANUARY 2023


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 30 January 2022
and 28 January 2023 300,000
AMORTISATION
At 30 January 2022
and 28 January 2023 300,000
NET BOOK VALUE
At 28 January 2023 -
At 29 January 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 30 January 2022 254,885 1,569,291 15,500 98,415 1,938,091
Additions 56,513 486,738 - 16,947 560,198
Disposals (2,412 ) - - (4,166 ) (6,578 )
At 28 January 2023 308,986 2,056,029 15,500 111,196 2,491,711
DEPRECIATION
At 30 January 2022 230,628 1,487,699 3,875 83,740 1,805,942
Charge for period 15,483 105,315 3,875 17,549 142,222
Eliminated on disposal (2,412 ) - - (4,166 ) (6,578 )
At 28 January 2023 243,699 1,593,014 7,750 97,123 1,941,586
NET BOOK VALUE
At 28 January 2023 65,287 463,015 7,750 14,073 550,125
At 29 January 2022 24,257 81,592 11,625 14,675 132,149

Disposals include the elimination of:

Fixtures and Fittings- over 15 years old
Equipment- over 10 years old
Computer Equipment - over 10 years old

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,219 15,131
Deferred tax asset
Accelerated capital allowances - 2,296
Prepayments 25,776 16,617
48,995 34,044

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 351,706 480,125
Corporation tax - 61,842
Amount due to group companies 85,172 77,225
Accruals 217,798 138,772
654,676 757,964

ROOMES (UPMINSTER) LTD (REGISTERED NUMBER: 06898485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 JANUARY 2022 TO 28 JANUARY 2023


9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Green LLB FCA (Senior Statutory Auditor)
for and on behalf of THP Limited

10. CONTINGENT LIABILITIES

The Company had no contingent liabilities at 28 January 2023 (2022 - £Nil) other than a cross guarantee in the form of a charge over the Company's assets, to the favour of the Group's principal Banker, covering all borrowings and overdrafts by the Group from that bank. At the year end there were no net group borrowings from the principal Banker.

11. ULTIMATE CONTROLLING PARTY

The Company is a wholly owned subsidiary of Morleys Department Stores Limited. The ultimate parent company is Morleys Stores Limited, a company incorporated in England & Wales. Details of the ultimate controlling party can be found in the accounts of Morleys Stores Limited.

A copy of the group consolidated accounts may be obtained from Companies House.