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REGISTERED NUMBER: 03171934 (England and Wales)















ROMSEY INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ROMSEY INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: D Feltham





REGISTERED OFFICE: The Exchange
5 Bank Street
Bury
BL9 0DN





REGISTERED NUMBER: 03171934 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
BL9 0DN

ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 - -
Investment property 5 1,337,630 1,337,630
1,337,630 1,337,630

CURRENT ASSETS
Debtors 6 582,266 600,316
Cash at bank 564 895
582,830 601,211
CREDITORS
Amounts falling due within one year 7 (195,638 ) (196,472 )
NET CURRENT ASSETS 387,192 404,739
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,724,822

1,742,369

CREDITORS
Amounts falling due after more than one
year

8

(1,270,089

)

(1,267,133

)

PROVISIONS FOR LIABILITIES (16,947 ) (17,791 )
NET ASSETS 437,786 457,445

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves 399,354 399,354
Retained earnings 38,431 58,090
SHAREHOLDERS' FUNDS 437,786 457,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

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.

ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


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 director and authorised for issue on 6 March 2024 and were signed by:





D Feltham - Director


ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Romsey Investments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03171934 and its registered office address is The Exchange, 5 Bank Street, Bury, BL9 0DN.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The director has considered the impact of the global Covid-19 pandemic on the company and recognise that the future cannot be predicted with any certainty. Procedures have been introduced to ensure that operations are conducted in accordance with official government advice as the company continues to trade. The director will endeavour to monitor and control costs as necessary.

The director has considered the business risks and believe that the company is well placed to manage these risks successfully, thus the going concern basis of accounting has been adopted in preparing these financial statements.

Critical accounting estimates and judgements
In the opinion of the directors there are no critical accounting estimates or judgements.

Revenue
Revenue comprises the aggregate of the fair value of rental services provided. Revenue is recognised as those services are provided to the occupants of the properties.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investment property
Investment properties are recognised at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.


ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 1,027
DEPRECIATION
At 1 July 2022
and 30 June 2023 1,027
NET BOOK VALUE
At 30 June 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,337,630
NET BOOK VALUE
At 30 June 2023 1,337,630
At 30 June 2022 1,337,630

ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2016 417,145
Cost 920,485
1,337,630

Investment properties were valued by Bilfinger GVA, property consultants, at open market value in September 2016.

The directors valued the properties as at 30 June 2023 at the same carrying value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 582,266 600,316

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 14,687 16,603
Taxation and social security - 213
Other creditors 180,951 179,656
195,638 196,472

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,270,089 1,267,133

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,270,089 -

Repayable by instalments
Bank loan due over 5 years - 1,267,133

ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,270,089 1,267,133

The bank loans are secured by way of debentures secured against the investment properties.

10. RELATED PARTY DISCLOSURES

Included within other debtors are amounts totalling £582,266 (2022: £600,316) due from related companies and parties.

Included within trade creditors at the year end are amounts due to related companies totalling £14,687 (2022 £16,603).

Included within other creditors are amounts totalling £180,951 (2022: £179,656) due to related companies and parties.