2 false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2021 - FRS102_2021 15,815 12,350 1,761 14,111 1,704 3,465 xbrli:pure xbrli:shares iso4217:GBP 06247360 2022-08-01 2023-07-31 06247360 2023-07-31 06247360 2022-07-31 06247360 2021-08-01 2022-07-31 06247360 2022-07-31 06247360 bus:Director1 2022-08-01 2023-07-31 06247360 core:WithinOneYear 2023-07-31 06247360 core:WithinOneYear 2022-07-31 06247360 core:ShareCapital 2023-07-31 06247360 core:ShareCapital 2022-07-31 06247360 core:RetainedEarningsAccumulatedLosses 2023-07-31 06247360 core:RetainedEarningsAccumulatedLosses 2022-07-31 06247360 bus:Director1 2022-07-31 06247360 bus:Director1 2023-07-31 06247360 bus:Director1 2021-07-31 06247360 bus:Director1 2022-07-31 06247360 bus:Director1 2021-08-01 2022-07-31 06247360 bus:SmallEntities 2022-08-01 2023-07-31 06247360 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 06247360 bus:FullAccounts 2022-08-01 2023-07-31 06247360 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 06247360 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 06247360 core:OfficeEquipment 2022-08-01 2023-07-31 06247360 core:OfficeEquipment 2023-07-31 06247360 core:OfficeEquipment 2022-07-31
COMPANY REGISTRATION NUMBER: 06247360
Roome Associates Limited
Filleted Unaudited Financial Statements
31 July 2023
Roome Associates Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,704
3,465
Current assets
Debtors
6
34,435
44,105
Cash at bank and in hand
293,413
313,776
---------
---------
327,848
357,881
Creditors: amounts falling due within one year
7
86,156
132,367
---------
---------
Net current assets
241,692
225,514
---------
---------
Total assets less current liabilities
243,396
228,979
Provisions
Taxation including deferred tax
316
316
---------
---------
Net assets
243,080
228,663
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
243,079
228,662
---------
---------
Shareholder funds
243,080
228,663
---------
---------
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.
For the year ending 31 July 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Roome Associates Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 11 January 2024 , and are signed on behalf of the board by:
A.E. Roome
Director
Company registration number: 06247360
Roome Associates Limited
Notes to the Financial Statements
Year ended 31 July 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 Basepoint Business Centre, Bromsgrove Technology Park, Isidore Road, Bromsgrove, Worcestershire, B60 3ET.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date .
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 August 2022 and 31 July 2023
15,815
15,815
--------
--------
Depreciation
At 1 August 2022
12,350
12,350
Charge for the year
1,761
1,761
--------
--------
At 31 July 2023
14,111
14,111
--------
--------
Carrying amount
At 31 July 2023
1,704
1,704
--------
--------
At 31 July 2022
3,465
3,465
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
22,815
37,201
Other debtors
11,620
6,904
--------
--------
34,435
44,105
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
11,898
10,136
Corporation tax
6,140
13,286
Social security and other taxes
14,785
17,501
Other creditors
53,333
91,444
--------
---------
86,156
132,367
--------
---------
8. Financial instruments
Financial instruments such as trade debtors, cash and trade creditors arise from the company's operations.
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
A.E. Roome
( 91,444)
38,111
( 53,333)
--------
--------
--------
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
A.E. Roome
( 72,844)
( 18,600)
( 91,444)
--------
--------
--------
10. Related party transactions
The company was under the control of A.E. Roome throughout the period. A.E. Roome is the sole director and sole shareholder. During the year there were the following transactions with the director
2023 2022
£ £
Dividends paid 10,000 30,000
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