REGISTERED NUMBER: |
ROMAN ROAD SYSTEMS LTD |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
REGISTERED NUMBER: |
ROMAN ROAD SYSTEMS LTD |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
ROMAN ROAD SYSTEMS LTD (REGISTERED NUMBER: 06573329) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ROMAN ROAD SYSTEMS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5 Cherrytree |
Union Road |
Sheffield |
South Yorkshire |
S11 9EF |
ROMAN ROAD SYSTEMS LTD (REGISTERED NUMBER: 06573329) |
BALANCE SHEET |
30 APRIL 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve | 11 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
ROMAN ROAD SYSTEMS LTD (REGISTERED NUMBER: 06573329) |
BALANCE SHEET - continued |
30 APRIL 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ROMAN ROAD SYSTEMS LTD (REGISTERED NUMBER: 06573329) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Roman Road Systems Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Computer equipment | - |
Land and property is valued using the revaluation model. Deferred tax on the revalued amount is accounted for, and the charge taken to the revaluation reserve. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises 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 balance sheet date. |
ROMAN ROAD SYSTEMS LTD (REGISTERED NUMBER: 06573329) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ROMAN ROAD SYSTEMS LTD (REGISTERED NUMBER: 06573329) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Computer |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
Revaluations |
Transfer to ownership | - | (31,065 | ) | - | (31,065 | ) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Included in cost or valuation of land and buildings is freehold land of £ 109,020 (2023 - £ 109,020 ) which is not depreciated. |
Cost or valuation at 30 April 2024 is represented by: |
Freehold | Plant and | Computer |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2020 | 30,920 | - | - | 30,920 |
Valuation in 2021 | 8,000 | - | - | 8,000 |
Valuation in 2024 | 42,000 | - | - | 42,000 |
Cost | 219,080 | 136,346 | 2,950 | 358,376 |
300,000 | 136,346 | 2,950 | 439,296 |
ROMAN ROAD SYSTEMS LTD (REGISTERED NUMBER: 06573329) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
30.4.24 | 30.4.23 |
£ | £ |
Cost | 219,080 | 219,080 |
Aggregate depreciation | 19,810 | 17,610 |
Value of land in freehold land and buildings | 109,020 | 109,020 |
Freehold land and buildings were valued on an open market basis on 30 April 2024 by the director . |
Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows: |
Plant and |
machinery |
£ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Transfer to ownership | (31,065 | ) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade debtors |
Other debtors |
ROMAN ROAD SYSTEMS LTD (REGISTERED NUMBER: 06573329) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts and finance leases (see note 8) |
Trade creditors |
Taxation and social security | 12,502 | 10,513 |
VAT | 8,858 | - |
Other creditors |
Directors' current accounts | 69,041 | 54,614 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Hire purchase contracts and finance leases (see note 8) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 121,938 | 132,245 |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts | Finance leases |
30.4.24 | 30.4.23 | 30.4.24 | 30.4.23 |
£ | £ | £ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
ROMAN ROAD SYSTEMS LTD (REGISTERED NUMBER: 06573329) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
8. | LEASING AGREEMENTS - continued |
Non-cancellable | operating leases |
30.4.24 | 30.4.23 |
£ | £ |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
The bank loans are secured by a first legal charge on the company's land and property. |
An overdraft of up to £25,000 is secured by a personal guarantee from Robert Barnett, a director and shareholder of the company. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.24 | 30.4.23 |
value: | £ | £ |
Ordinary | 1 | 2 | 2 |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2023 |
Revaluation reserve | 34,020 |
At 30 April 2024 |