Rooms Group Limited 09243649 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is refurbishment of buildings. Digita Accounts Production Advanced 6.30.9574.0 true true 09243649 2022-12-01 2023-11-30 09243649 2023-11-30 09243649 bus:Director1 1 2023-11-30 09243649 bus:Director2 1 2023-11-30 09243649 core:RetainedEarningsAccumulatedLosses 2023-11-30 09243649 core:ShareCapital 2023-11-30 09243649 core:CurrentFinancialInstruments 2023-11-30 09243649 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 09243649 core:FurnitureFittingsToolsEquipment 2023-11-30 09243649 core:MotorVehicles 2023-11-30 09243649 bus:SmallEntities 2022-12-01 2023-11-30 09243649 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 09243649 bus:FilletedAccounts 2022-12-01 2023-11-30 09243649 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 09243649 bus:RegisteredOffice 2022-12-01 2023-11-30 09243649 bus:Director1 2022-12-01 2023-11-30 09243649 bus:Director1 1 2022-12-01 2023-11-30 09243649 bus:Director2 2022-12-01 2023-11-30 09243649 bus:Director2 1 2022-12-01 2023-11-30 09243649 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09243649 core:FurnitureFittings 2022-12-01 2023-11-30 09243649 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 09243649 core:MotorVehicles 2022-12-01 2023-11-30 09243649 core:OfficeEquipment 2022-12-01 2023-11-30 09243649 core:PlantMachinery 2022-12-01 2023-11-30 09243649 1 2022-12-01 2023-11-30 09243649 countries:EnglandWales 2022-12-01 2023-11-30 09243649 2022-11-30 09243649 bus:Director1 1 2022-11-30 09243649 bus:Director2 1 2022-11-30 09243649 core:FurnitureFittingsToolsEquipment 2022-11-30 09243649 core:MotorVehicles 2022-11-30 09243649 2021-12-01 2022-11-30 09243649 2022-11-30 09243649 bus:Director1 1 2022-11-30 09243649 core:RetainedEarningsAccumulatedLosses 2022-11-30 09243649 core:ShareCapital 2022-11-30 09243649 core:CurrentFinancialInstruments 2022-11-30 09243649 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 09243649 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2022-11-30 09243649 core:FurnitureFittingsToolsEquipment 2022-11-30 09243649 core:MotorVehicles 2022-11-30 09243649 core:PreviouslyStatedAmount 2022-11-30 09243649 bus:Director1 1 2021-12-01 2022-11-30 09243649 bus:Director1 1 2021-11-30 iso4217:GBP xbrli:pure

Registration number: 09243649

Rooms Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Rooms Group Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Rooms Group Limited

(Registration number: 09243649)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

36,535

37,167

Current assets

 

Stocks

6

19,640

94,200

Debtors

7

2,828,400

1,548,746

Cash at bank and in hand

 

1,800,361

1,508,101

 

4,648,401

3,151,047

Creditors: Amounts falling due within one year

8

(1,163,705)

(601,942)

Net current assets

 

3,484,696

2,549,105

Total assets less current liabilities

 

3,521,231

2,586,272

Provisions for liabilities

(8,428)

(8,541)

Net assets

 

3,512,803

2,577,731

Capital and reserves

 

Called up share capital

2

2

Retained earnings

3,512,801

2,577,729

Shareholders' funds

 

3,512,803

2,577,731

For the financial year ending 30 November 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Rooms Group Limited

(Registration number: 09243649)
Balance Sheet as at 30 November 2023

Approved and authorised by the director on 27 March 2024
 

.........................................
Mr B M Massey
Director

 

Rooms Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Office 102, Dallam Court
Dallam Lane
Warrington
WA2 7LT

These financial statements were authorised for issue by the director on 27 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rooms Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Office equipment

25% straight line basis

Fixtures and fittings

25% straight line basis

Plant and machinery

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Rooms Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 19 (2022 - 21).

 

Rooms Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

7,935

13,165

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

7,142

54,265

61,407

Additions

15,858

23,847

39,705

Disposals

(2,374)

(38,774)

(41,148)

At 30 November 2023

20,626

39,338

59,964

Depreciation

At 1 December 2022

5,559

18,681

24,240

Charge for the year

2,170

5,765

7,935

Eliminated on disposal

-

(8,746)

(8,746)

At 30 November 2023

7,729

15,700

23,429

Carrying amount

At 30 November 2023

12,897

23,638

36,535

At 30 November 2022

1,583

35,584

37,167

6

Stocks

2023
£

2022
£

Work in progress

11,640

-

Other inventories

8,000

94,200

19,640

94,200

 

Rooms Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

1,102,883

391,397

Amounts owed by related parties

9

1,629,842

-

Other debtors

 

82,194

1,156,718

Prepayments

 

13,481

631

 

2,828,400

1,548,746

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

401,445

234,880

Taxation and social security

 

228,918

26,300

Corporation tax

 

286,524

306,415

Other creditors

 

16,367

12,348

Accrued expenses

 

230,451

21,999

 

1,163,705

601,942

 

Rooms Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Related party transactions

Transactions with the director

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr A J Wathey

Directors current account

(1,062,005)

(544,714)

1,606,720

-

Mr B M Massey

Directors current account

-

39,508

(14,987)

24,520

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr A J Wathey

Directors current account

622

(1,076,528)

13,901

(1,062,005)

10

Parent and ultimate parent undertaking

The company's immediate parent is Rooms Group Holdings Limited, incorporated in England and Wales.
 

Rooms Group Holdings Limited was incorporated on 12 July 2022 and purchased the shares in Rooms Group Limited on 20 December 2022.