Silverfin false 31/01/2023 01/02/2022 31/01/2023 C Ogden 01/10/2021 M Ogden 05/03/2021 06 October 2023 The principal activity of the Company during the financial year was that of the sale of dye. 13246690 2023-01-31 13246690 bus:Director1 2023-01-31 13246690 bus:Director2 2023-01-31 13246690 2022-01-31 13246690 core:CurrentFinancialInstruments 2023-01-31 13246690 core:CurrentFinancialInstruments 2022-01-31 13246690 core:ShareCapital 2023-01-31 13246690 core:ShareCapital 2022-01-31 13246690 core:RetainedEarningsAccumulatedLosses 2023-01-31 13246690 core:RetainedEarningsAccumulatedLosses 2022-01-31 13246690 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-01-31 13246690 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-01-31 13246690 bus:OrdinaryShareClass1 2023-01-31 13246690 2022-02-01 2023-01-31 13246690 bus:FullAccounts 2022-02-01 2023-01-31 13246690 bus:SmallEntities 2022-02-01 2023-01-31 13246690 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 13246690 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 13246690 bus:Director1 2022-02-01 2023-01-31 13246690 bus:Director2 2022-02-01 2023-01-31 13246690 1 2022-02-01 2023-01-31 13246690 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2022-02-01 2023-01-31 13246690 2021-03-05 2022-01-31 13246690 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-02-01 2023-01-31 13246690 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 13246690 bus:OrdinaryShareClass1 2021-03-05 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13246690 (England and Wales)

ROMOCO LTD
(Formerly Dyeing for Change Ltd)

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

ROMOCO LTD

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

ROMOCO LTD

STATEMENT OF FINANCIAL POSITION

As at 31 January 2023
ROMOCO LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2023
Note 31.01.2023 31.01.2022
£ £
Fixed assets
Intangible assets 3 4,760 1,604
4,760 1,604
Current assets
Stocks 23,466 6,393
Debtors 4 5,462 3,213
Cash at bank and in hand 16,635 11,730
45,563 21,336
Creditors: amounts falling due within one year 5 ( 59,008) ( 24,834)
Net current liabilities (13,445) (3,498)
Total assets less current liabilities (8,685) (1,894)
Net liabilities ( 8,685) ( 1,894)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 8,785 ) ( 1,994 )
Total shareholder's deficit ( 8,685) ( 1,894)

For the financial 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.

Directors' responsibilities:

The financial statements of Romoco Ltd (registered number: 13246690) were approved and authorised for issue by the Director. They were signed on its behalf by:

M Ogden
Director

06 October 2023

ROMOCO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
ROMOCO LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Romoco Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

At the balance sheet date, the company has net current liabilities of £13,445. The Company relies upon borrowings of £17,479 due to related parties and will continue to rely on their ongoing support which the directors have confirmed, thus ensuring liabilities are met as they fall due.

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £8,685. The Company is supported through loans from the related parties. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the related parties will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 4 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

2. Employees

Year ended
31.01.2023
Period from
05.03.2021 to
31.01.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Website costs Total
£ £
Cost
At 01 February 2022 2,000 2,000
Additions 4,174 4,174
At 31 January 2023 6,174 6,174
Accumulated amortisation
At 01 February 2022 396 396
Charge for the financial year 1,018 1,018
At 31 January 2023 1,414 1,414
Net book value
At 31 January 2023 4,760 4,760
At 31 January 2022 1,604 1,604

4. Debtors

31.01.2023 31.01.2022
£ £
Trade debtors 1,457 603
Prepayments and accrued income 3,309 2,610
Other debtors 696 0
5,462 3,213

5. Creditors: amounts falling due within one year

31.01.2023 31.01.2022
£ £
Trade creditors 35,774 10,991
Accruals 3,074 2,500
Other taxation and social security 2,509 607
Other creditors 17,651 10,736
59,008 24,834

6. Called-up share capital

31.01.2023 31.01.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100