Registered number
00790253
Roma Properties Limited
Filleted Accounts
31 January 2024
Roma Properties Limited
Balance Sheet
As at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,357,640 1,357,640
Current assets
Debtors 4 5,673 23,934
Cash at bank and in hand 449,071 393,353
454,744 417,287
Creditors: amounts falling due within one year 5 (68,698) (78,608)
Net current assets 386,046 338,679
Total assets less current liabilities 1,743,686 1,696,319
Provisions for liabilities (119,943) (119,943)
Net assets 1,623,743 1,576,376
Capital and reserves
Called up share capital 3,210 3,210
Profit and loss account 1,620,533 1,573,166
Shareholders' funds 1,623,743 1,576,376
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
……………………………..
Mr P E Harris Executor
Director
Approved by the board on 30 November 2024
Roma Properties Limited
Notes to the Accounts
For the Year Ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the rental and other monies received during the year from letting properties owned by the company.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 20% on a reducing balance basis
Computer and other office equipment 20% on a reducing balance basis
Investment properties
Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Freehold Land and buildings Fixtures, fittings & equipment Computer & office equipment Total
£ £ £ £
Cost
At 1 February 2023 1,357,640 16,560 2,155 1,376,355
At 31 January 2024 1,357,640 16,560 2,155 1,376,355
Depreciation
At 1 February 2023 - 16,560 2,155 18,715
At 31 January 2024 - 16,560 2,155 18,715
Net book value
At 31 January 2024 1,357,640 - - 1,357,640
At 31 January 2023 1,357,640 - - 1,357,640
4 Debtors 2024 2023
£ £
Trade debtors 5,673 23,934
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,231 6,231
Taxation and social security costs 12,431 14,411
Other creditors 50,036 57,966
68,698 78,608
6 Related party transactions
The Directors receive the benefit of using the registered office as their private residence. Dividends of £52965 were paid to the Directors during the year.
At the balance sheet date the Company owed the Directors £50036(2023 £57966).
7 Controlling party
The Company is under the control of the Directors who own all the issued shares.
8 Other information
Roma Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
18 Forth an Cos
Ponsanooth
Truro
Cornwall
TR3 7RJ
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