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REGISTERED NUMBER: 00410719 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Romford Construction Company Limited

Romford Construction Company Limited (Registered number: 00410719)






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


Romford Construction Company Limited

Company Information
for the Year Ended 31 December 2023







Directors: N H Chaplin MRICS
R M Chaplin MRICS





Secretary: N H Chaplin MRICS





Registered office: 84 Market Place
Romford
Essex
RM1 3JE





Registered number: 00410719 (England and Wales)





Accountants: Pinkham Blair
Chartered Accountants
87a High Street
The Old Town
Hemel Hempstead
Hertfordshire
HP1 3AH

Romford Construction Company Limited (Registered number: 00410719)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 11,212 13,322
Investments 5 1,575,878 1,575,878
Investment property 6 2,368,700 2,416,400
3,955,790 4,005,600

Current assets
Debtors 7 1,863,233 1,737,531
Cash at bank 322,105 20,795
2,185,338 1,758,326
Creditors
Amounts falling due within one year 8 1,475,424 1,508,329
Net current assets 709,914 249,997
Total assets less current liabilities 4,665,704 4,255,597

Provisions for liabilities 143,508 145,082
Net assets 4,522,196 4,110,515

Capital and reserves
Called up share capital 9 62,868 62,868
Share premium 99,719 99,719
Other reserves 41,912 41,912
Retained earnings 4,317,697 3,906,016
Shareholders' funds 4,522,196 4,110,515

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.

Romford Construction Company Limited (Registered number: 00410719)

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 20 September 2024 and were signed on its behalf by:





N H Chaplin MRICS - Director


Romford Construction Company Limited (Registered number: 00410719)

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

1. Statutory information

Romford Construction Company Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents sales of development land and property and rents receivable on investment property. Property sales are recognised when there is an exchange of unconditional contracts. Rental income is recognised in the period to which the rent relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance

The assets' residual values, useful lives and deprecation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans to and from 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 profit or loss.


Romford Construction Company Limited (Registered number: 00410719)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 3 ) .

4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£ £ £
Cost
At 1 January 2023
and 31 December 2023 19,525 17,915 37,440
Depreciation
At 1 January 2023 6,834 17,284 24,118
Charge for year 1,952 158 2,110
At 31 December 2023 8,786 17,442 26,228
Net book value
At 31 December 2023 10,739 473 11,212
At 31 December 2022 12,691 631 13,322

Romford Construction Company Limited (Registered number: 00410719)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 January 2023
and 31 December 2023 1,575,878
Net book value
At 31 December 2023 1,575,878
At 31 December 2022 1,575,878

6. Investment property
Total
£
Fair value
At 1 January 2023 2,416,400
Disposals (72,700 )
Revaluations 25,000
At 31 December 2023 2,368,700
Net book value
At 31 December 2023 2,368,700
At 31 December 2022 2,416,400


7. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 44,920 25,286
Amounts owed by group undertakings 1,607,146 1,504,059
Other debtors 211,167 208,186
1,863,233 1,737,531

8. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings 1,452,184 1,499,184
Taxation and social security 17,720 1,946
Other creditors 5,520 7,199
1,475,424 1,508,329

Romford Construction Company Limited (Registered number: 00410719)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
62,868 Ordinary £1 62,868 62,868

10. Contingent liabilities

The company's assets are subject to a legal charge and debenture in respect of bank loans totalling £2,405,000 held by the group.

11. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£ £
N H Chaplin MRICS
Balance outstanding at start of year 136,425 136,425
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 136,425 136,425

The loan is interest bearing at HM Revenue & Customs rates and repayable on demand.

12. Related party disclosures

The company was owed £1,550 (2022: £1,550) by Togo Homes Limited. N H Chaplin and R M Chaplin are directors of Togo Homes Limited.

13. Ultimate controlling party

The ultimate parent company is Maylands Green Limited, registered in England and Wales. Group accounts are available from Companies House, Cardiff.

Registered Office:
84 Market Place,
Romford,
Essex,
RM1 3JE

14. Non-distributable reserves

Included in retained earnings at the balance sheet date is £1,036,893 which is non-distributable.