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REGISTERED NUMBER: 10217518 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Roma Pharmaceuticals Limited

Roma Pharmaceuticals Limited (Registered number: 10217518)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Roma Pharmaceuticals Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: R A Brown
M Cresswell
P J Wright
Mrs L Walley





REGISTERED OFFICE: Ground Floor, Gibraltar House
Crown Square
Centrum One Hundred
Burton-On-Trent
DE14 2WE





REGISTERED NUMBER: 10217518 (England and Wales)





ACCOUNTANTS: Atraxa Consulting Limited
Brooke's Mill
Armitage Bridge
Huddersfield
West Yorkshire
HD4 7NR

Roma Pharmaceuticals Limited (Registered number: 10217518)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,498 8,293

CURRENT ASSETS
Stocks 1,109,016 695,138
Debtors 5 1,314,171 1,138,599
Cash at bank 704,550 310,122
3,127,737 2,143,859
CREDITORS
Amounts falling due within one year 6 4,584,587 4,583,871
NET CURRENT LIABILITIES (1,456,850 ) (2,440,012 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,450,352

)

(2,431,719

)

CAPITAL AND RESERVES
Called up share capital 98 95
Share premium 14,387 -
Retained earnings (1,464,837 ) (2,431,814 )
(1,450,352 ) (2,431,719 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

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 2 January 2025 and were signed on its behalf by:




P J Wright - Director


Roma Pharmaceuticals Limited (Registered number: 10217518)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Roma Pharmaceuticals 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The trading of the company has been financed by loans from the directors, Mr RA Brown and Mr M Cresswell. The company has received assurances from the directors that the company's future liabilities and obligations will be financed from these sources for the foreseeable future, but there can be no certainty with regard to these matters. The directors consider it appropriate to prepare the accounts on the going concern basis and the financial statements do not include any adjustment that would result from a withdrawal of the directors' support.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

-the company has transferred the significant risks and rewards of ownership to the buyer;
-the company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold;
-the amount of revenue can be measured reliably;
-it is probable that the company will receive the consideration due under the transaction; and
-the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line model.

Depreciation is provided on the following basis:
Plant and machinery-25% straight-line
Fixtures and fittings-33% straight-line
Office equipment-33% straight-line

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

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Roma Pharmaceuticals Limited (Registered number: 10217518)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains or losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within "finance income or costs". All other foreign exchange gains or losses are presented in profit or loss with administrative expenses.

Operating leases - as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown within other creditors as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Roma Pharmaceuticals Limited (Registered number: 10217518)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more that 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

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 other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year) including loans and other accounts receivable or payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be pad or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an outright short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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 the Statement of income and retained earnings.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously...

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

Roma Pharmaceuticals Limited (Registered number: 10217518)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 35,436
Additions 3,919
At 30 June 2024 39,355
DEPRECIATION
At 1 July 2023 27,143
Charge for year 5,714
At 30 June 2024 32,857
NET BOOK VALUE
At 30 June 2024 6,498
At 30 June 2023 8,293

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,106,966 905,628
Other debtors 207,205 232,971
1,314,171 1,138,599

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 683,513 551,946
Taxation and social security 235,719 215,671
Other creditors 3,665,355 3,816,254
4,584,587 4,583,871

Included within other creditors is deferred income of £82,500 (2023: £137,500) which is expected to be recognised in the income statement in 2025.

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, Mr RA Brown (director) was owed £1,452,734 (2023: £1,672,734), Mr M Cresswell (director) was owed £1,435,142 (2023: £1,655,142 and Mr PJ Wright (director) was owed £312 (2023: £312). These amounts are interest free, unsecured and repayable on demand. These amounts are shown within creditors due within one year.