12 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 39,900 31,920 1,995 33,915 5,985 7,980 xbrli:pure xbrli:shares iso4217:GBP 03426847 2023-02-01 2024-01-31 03426847 2024-01-31 03426847 2023-01-31 03426847 2022-02-01 2023-01-31 03426847 2023-01-31 03426847 2022-01-31 03426847 core:NetGoodwill 2023-02-01 2024-01-31 03426847 core:FurnitureFittings 2023-02-01 2024-01-31 03426847 core:MotorVehicles 2023-02-01 2024-01-31 03426847 bus:Director1 2023-02-01 2024-01-31 03426847 core:NetGoodwill 2023-01-31 03426847 core:NetGoodwill 2024-01-31 03426847 core:FurnitureFittings 2023-01-31 03426847 core:MotorVehicles 2023-01-31 03426847 core:FurnitureFittings 2024-01-31 03426847 core:MotorVehicles 2024-01-31 03426847 core:WithinOneYear 2024-01-31 03426847 core:WithinOneYear 2023-01-31 03426847 core:AfterOneYear 2024-01-31 03426847 core:AfterOneYear 2023-01-31 03426847 core:ShareCapital 2024-01-31 03426847 core:ShareCapital 2023-01-31 03426847 core:RetainedEarningsAccumulatedLosses 2024-01-31 03426847 core:RetainedEarningsAccumulatedLosses 2023-01-31 03426847 core:NetGoodwill 2023-01-31 03426847 core:FurnitureFittings 2023-01-31 03426847 bus:SmallEntities 2023-02-01 2024-01-31 03426847 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 03426847 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 03426847 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03426847 bus:FullAccounts 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 03426847
ROMART SUPERSTORES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2024
ROMART SUPERSTORES LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Intangible assets
5
5,985
7,980
Tangible assets
6
20,379
6,364
--------
--------
26,364
14,344
CURRENT ASSETS
Stocks
86,500
93,450
Debtors
7
13,781
5,580
Cash at bank and in hand
217,275
220,785
---------
---------
317,556
319,815
CREDITORS: amounts falling due within one year
8
( 62,075)
( 58,470)
---------
---------
NET CURRENT ASSETS
255,481
261,345
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
281,845
275,689
CREDITORS: amounts falling due after more than one year
9
( 14,892)
( 24,996)
PROVISIONS
Taxation including deferred tax
( 3,872)
( 1,209)
---------
---------
NET ASSETS
263,081
249,484
---------
---------
CAPITAL AND RESERVES
Called up share capital
4
4
Profit and loss account
263,077
249,480
---------
---------
SHAREHOLDER FUNDS
263,081
249,484
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ROMART SUPERSTORES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
K. L. Smith
Director
Company registration number: 03426847
ROMART SUPERSTORES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units C, D & E, York Road Shopping Centre, Torre Lane, Leeds, LS9 6TN.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax.
Income tax
Deferred taxation is provided using the liability method on all timing differences, that have originated but not reversed at the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 12 (2023: 8 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
39,900
--------
Amortisation
At 1 February 2023
31,920
Charge for the year
1,995
--------
At 31 January 2024
33,915
--------
Carrying amount
At 31 January 2024
5,985
--------
At 31 January 2023
7,980
--------
6. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 February 2023
56,322
8,000
64,322
Additions
14,970
14,970
--------
--------
--------
At 31 January 2024
56,322
22,970
79,292
--------
--------
--------
Depreciation
At 1 February 2023
49,958
8,000
57,958
Charge for the year
955
955
--------
--------
--------
At 31 January 2024
50,913
8,000
58,913
--------
--------
--------
Carrying amount
At 31 January 2024
5,409
14,970
20,379
--------
--------
--------
At 31 January 2023
6,364
6,364
--------
--------
--------
7. DEBTORS
2024
2023
£
£
Other debtors
13,781
5,580
--------
-------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
1,486
6,820
Corporation tax
15,251
15,331
Social security and other taxes
31,453
20,560
Other creditors
1,888
Other creditors
3,885
3,871
--------
--------
62,075
58,470
--------
--------
9. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,892
24,996
--------
--------