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REGISTERED NUMBER: 03674311 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ROMSTOR LTD

ROMSTOR LTD (REGISTERED NUMBER: 03674311)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROMSTOR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D Littlejohn
Mrs J E Robertson





SECRETARY: Mrs J E Robertson





REGISTERED OFFICE: Unit 22F
West Station Yard
Spital Road
Maldon
Essex
CM9 6TS





REGISTERED NUMBER: 03674311 (England and Wales)





ACCOUNTANTS: Wilson Devenish
67 Newland Street
Witham
Essex
CM8 1AA

ROMSTOR LTD (REGISTERED NUMBER: 03674311)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 329,389 345,160

CURRENT ASSETS
Stocks 1,000 3,000
Debtors 5 122,041 93,601
Prepayments and accrued income 7,182 34,543
Cash at bank 27,451 112,701
157,674 243,845
CREDITORS
Amounts falling due within one year 6 272,011 321,605
NET CURRENT LIABILITIES (114,337 ) (77,760 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,052

267,400

CREDITORS
Amounts falling due after more than one
year

7

(132,048

)

(158,576

)

PROVISIONS FOR LIABILITIES (431 ) (2,708 )
NET ASSETS 82,573 106,116

CAPITAL AND RESERVES
Called up share capital 50 50
Revaluation reserve 9 82,020 82,020
Retained earnings 503 24,046
SHAREHOLDERS' FUNDS 82,573 106,116

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ROMSTOR LTD (REGISTERED NUMBER: 03674311)

BALANCE SHEET - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





D Littlejohn - Director


ROMSTOR LTD (REGISTERED NUMBER: 03674311)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Romstor 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

ROMSTOR LTD (REGISTERED NUMBER: 03674311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 290,000 179,876 469,876
Disposals - (19,769 ) (19,769 )
At 31 December 2023 290,000 160,107 450,107
DEPRECIATION
At 1 January 2023 - 124,716 124,716
Charge for year - 13,133 13,133
Eliminated on disposal - (17,131 ) (17,131 )
At 31 December 2023 - 120,718 120,718
NET BOOK VALUE
At 31 December 2023 290,000 39,389 329,389
At 31 December 2022 290,000 55,160 345,160

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2003 52,041 - 52,041
Valuation in 2004 15,000 - 15,000
Valuation in 2006 41,459 - 41,459
Valuation in 2007 (52,041 ) - (52,041 )
Valuation in 2013 6,401 - 6,401
Valuation in 2019 19,160 - 19,160
Cost 207,980 160,107 368,087
290,000 160,107 450,107

ROMSTOR LTD (REGISTERED NUMBER: 03674311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 76,585
DEPRECIATION
At 1 January 2023 33,507
Charge for year 10,770
At 31 December 2023 44,277
NET BOOK VALUE
At 31 December 2023 32,308
At 31 December 2022 43,078

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 120,153 93,601
Other debtors 1,888 -
122,041 93,601

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 17,348 17,017
Hire purchase contracts 9,125 9,250
Trade creditors 76,237 162,318
Taxation and social security 26,785 32,479
Other creditors 142,516 100,541
272,011 321,605

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 110,180 127,583
Hire purchase contracts 21,868 30,993
132,048 158,576

ROMSTOR LTD (REGISTERED NUMBER: 03674311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years 63,017 71,905

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 127,528 144,600
Hire purchase contracts 30,993 40,243
158,521 184,843

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 82,020