Company registration number 09845678 (England and Wales)
ROMULO LEASE HOLDING COMPANY UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
ROMULO LEASE HOLDING COMPANY UK LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
ROMULO LEASE HOLDING COMPANY UK LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
119,132
Current assets
Debtors
30,681
Cash at bank and in hand
2
2
2
30,683
Creditors: amounts falling due within one year
(258,418)
Net current assets/(liabilities)
2
(227,735)
Net assets/(liabilities)
2
(108,603)
Capital and reserves
Called up share capital
4
2
2
Profit and loss reserves
(108,605)
Total equity
2
(108,603)
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 11 November 2024 and are signed on its behalf by:
Ms R Romulo
Director
Company registration number 09845678 (England and Wales)
ROMULO LEASE HOLDING COMPANY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Romulo Lease Holding Company UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 343, Kensington High Street, London, England, W8 6NW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
Over the period of the lease
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Taxation
Taxation for the year compromises 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 statement of financial position date.
1.4
Leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
ROMULO LEASE HOLDING COMPANY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Total
£
Cost
At 1 March 2023
227,737
Disposals
(227,737)
At 31 August 2024
Depreciation and impairment
At 1 March 2023
108,605
Eliminated in respect of disposals
(108,605)
At 31 August 2024
Carrying amount
At 31 August 2024
At 28 February 2023
119,132
4
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary of £1 each
2
2
ROMULO LEASE HOLDING COMPANY UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
5
Related party transactions
Romulo Restaurant Group UK Limited
A company under similar ownership with some common directors and shareholders
In previous periods, Romulo Lease Holding Company UK Limited charged the related party rent at a commercial rate £55,660.
The related party advanced funding to the company as working capital until the related party went into liquidation in January 2024. At the date of liquidation the directors consider that there was no indebtedness between the company and the related party. As a result, there is no balance between the companies at the year end.
Romulo Brands Holding Company Limited
A company under similar ownership with some common directors and shareholders
During the period, the company loaned the related party £41,908. This was written off during the period as the related party was unable to settle the debt.
6
Contingent liability
As noted above under related party transactions, the directors consider there to be no indebtedness between this company and Romulo Restaurant Group UK Limited at the year end. As a result, there is no balance between the companies at the year end, although this position has yet to be finalised with the liquidator.