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Registration number: 04363285

Romanworth Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Romanworth Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Romanworth Limited

Company Information

Director

Ms G Ivanova

Registered office

21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Romanworth Limited

(Registration number: 04363285)
Balance Sheet as at 31 December 2023

Note

2023

2022

Fixed assets

 

Investments

4

1,716,996

1,716,996

Current assets

 

Debtors

5

691,303

685,165

Cash at bank and in hand

 

809,134

807,827

 

1,500,437

1,492,992

Creditors: Amounts falling due within one year

6

(1,648,590)

(1,631,368)

Net current liabilities

 

(148,153)

(138,376)

Net assets

 

1,568,843

1,578,620

Capital and reserves

 

Called up share capital

47

47

Retained earnings

1,568,796

1,578,573

Shareholders' funds

 

1,568,843

1,578,620

For the financial year ending 31 December 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 her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2024
 

.........................................
Ms G Ivanova
Director

   
     
 

Romanworth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

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. Exemption has been taken under the provions of the Companies Act 2006 from preparing consolidated financial statements. These financial statements therefore contain information about Romanworth Limited as an individual company and do not contain consolidated financial information as the parent of a group.

Investments

Investments in subsidiary undertakings are measured at cost less impairment.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

 

Romanworth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

 

Romanworth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investments

2023

2022

Investments in subsidiaries

1,716,996

1,716,996

Subsidiaries

Cost or valuation

At 1 January 2023

1,716,996

Carrying amount

At 31 December 2023

1,716,996

At 31 December 2022

1,716,996

5

Debtors

Current

2023

2022

Other debtors

691,303

685,165

 

691,303

685,165

 

Romanworth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023

2022

Due within one year

 

Bank loans and borrowings

7

1,293,379

1,293,379

Amounts owed to group undertakings and undertakings in which the company has a participating interest

353,801

336,579

Other creditors

 

1,410

1,410

 

1,648,590

1,631,368

7

Loans and borrowings

2023

2022

Current loans and borrowings

Unsecured loans

1,293,379

1,293,379

Unsecured loans are non interest bearing and have no formal repayment terms.