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Registration number: 10582075

Romeo Whisky Limited


Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Romeo Whisky Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Romeo Whisky Limited

(Registration number: 10582075)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

18,083

13,634

Tangible assets

5

33,073

32,858

Investment property

6

1,044,004

1,035,916

 

1,095,160

1,082,408

Current assets

 

Debtors

7

7,620

34,111

Cash at bank and in hand

 

7,615

6,984

 

15,235

41,095

Creditors: Amounts falling due within one year

8

(16,389)

(8,882)

Net current (liabilities)/assets

 

(1,154)

32,213

Net assets

 

1,094,006

1,114,621

Capital and reserves

 

Called up share capital

12,000

12,000

Share premium reserve

1,188,000

1,188,000

Retained earnings

(105,994)

(85,379)

Shareholders' funds

 

1,094,006

1,114,621

 

Romeo Whisky Limited

(Registration number: 10582075)
Balance Sheet as at 31 January 2024

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

.........................................
Ms Emma Carter
Company secretary and director

 

Romeo Whisky Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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:
Norrells
Batchmere Road
Batchmere
West Sussex
PO20 7LJ

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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

Office equipment

25% reducing balance basis

Aircraft

10% - 20% reducing balance basis

Aircraft equipment

10% reducing balance basis

Investment property

Investment property is carried at directors' valuation. The valuation is reviewed annually by the directors.

 

Romeo Whisky Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Development costs

Development costs relating to the development of new service lines are capitalised when these costs constitute a separately defined project which will be revenue generating.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

4% - reducing balance

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.

Debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Romeo Whisky Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 February 2023

15,320

15,320

Additions acquired separately

5,071

5,071

At 31 January 2024

20,391

20,391

Amortisation

At 1 February 2023

1,686

1,686

Amortisation charge

622

622

At 31 January 2024

2,308

2,308

Carrying amount

At 31 January 2024

18,083

18,083

At 31 January 2023

13,634

13,634

The intangible asset relates to the creation of a training programme for commercial pilots

 

Romeo Whisky Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Plant and machinery
£

Office equipment
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 February 2023

2,603

4,341

53,043

59,987

Additions

-

699

5,583

6,282

At 31 January 2024

2,603

5,040

58,626

66,269

Depreciation

At 1 February 2023

937

1,920

24,272

27,129

Charge for the year

172

692

5,203

6,067

At 31 January 2024

1,109

2,612

29,475

33,196

Carrying amount

At 31 January 2024

1,494

2,428

29,151

33,073

At 31 January 2023

1,666

2,421

28,771

32,858

6

Investment properties

2024
£

At 1 February

1,035,916

Additions

8,088

At 31 January

1,044,004

There has been no valuation of investment property by an independent valuer.

7

Debtors

Current

2024
£

2023
£

Trade debtors

-

958

Other debtors

7,620

33,153

 

7,620

34,111

 

Romeo Whisky Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

650

-

Other creditors

15,739

8,882

16,389

8,882

9

Related party transactions

Other transactions with directors

During the year T Cooper and E Carter (directors) had a loan with the company. At the balance sheet date the
amount due to T Cooper and E Carter was £6,720 (2023: £26,810 owed from the directors).

Summary of transactions with subsidiaries

The company is an 100% subsidiary of Padworth Estates Ltd. The amount due from Padworth Estates at the year end was £7,620 (2023: £6,344).