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REGISTERED NUMBER: 06165648 (England and Wales)









RHOMCO CONSULTING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RHOMCO CONSULTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: J Normansell
J A Gauregui





SECRETARY: J Normansell





REGISTERED OFFICE: Westview House
Oak Tree Court Mulberry Drive
Cardiff Gate Business Park
CARDIFF
CF23 8RS





REGISTERED NUMBER: 06165648 (England and Wales)






RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 141,300 186,188

CURRENT ASSETS
Stocks 5 141,522 129,747
Debtors 6 500,444 588,061
Cash at bank and in hand 1,401,041 1,338,725
2,043,007 2,056,533
CREDITORS
Amounts falling due within one year 7 603,577 637,061
NET CURRENT ASSETS 1,439,430 1,419,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,580,730

1,605,660

CREDITORS
Amounts falling due after more than one
year

8

(122,121

)

(137,446

)

PROVISIONS FOR LIABILITIES 11 (35,325 ) (46,547 )
NET ASSETS 1,423,284 1,421,667

RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)

BALANCE SHEET - continued
30 JUNE 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 1,423,282 1,421,665
SHAREHOLDERS' FUNDS 1,423,284 1,421,667

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 13 March 2025 and were signed on its behalf by:





J Normansell - Director


RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Rhomco Consulting 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 financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Impairment of debtors
The company, makes an estimate of the recoverable value of trade and other debtors when assessing impairment of trade and other debtors, management considers factors including the credit worthiness of the debtor, the aging profile of the debtor and historical experience.

RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services:

Turnover represents the value of work done in the period, including estimate of amounts not invoiced net of VAT. Turnover in respect of long term contracts is recognised by reference to stage of completion. The timing of income recognition for long term contracts is matched with the evaluation and completeness of work undertaken as detailed in the work in progress accounting policy.

Employee Benefits
The company provides a wide range of benefits which includes paid holidays and defined contribution pension plans. Short term employee benefit are recognised as an expense in the profit and loss account for the period in which the service is received.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - Over term of lease
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks and work in progress
Stocks and amounts due under contract are valued on the basis of direct costs. Provisions are made for any foreseeable losses where appropriate. No element of profit is included in the value of work in progress.

The attributable profit on long term contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of work completed to date on the project.


RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 22 ) .

RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 11,902 45,359 231,927 84,091 373,279
Additions - - - 1,593 1,593
At 30 June 2024 11,902 45,359 231,927 85,684 374,872
DEPRECIATION
At 1 July 2023 11,902 24,261 68,854 82,074 187,091
Charge for year - 3,165 40,768 2,548 46,481
At 30 June 2024 11,902 27,426 109,622 84,622 233,572
NET BOOK VALUE
At 30 June 2024 - 17,933 122,305 1,062 141,300
At 30 June 2023 - 21,098 163,073 2,017 186,188

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 231,927
DEPRECIATION
At 1 July 2023 68,854
Charge for year 40,768
At 30 June 2024 109,622
NET BOOK VALUE
At 30 June 2024 122,305
At 30 June 2023 163,073

5. STOCKS
2024 2023
£    £   
Amounts due under contracts 141,522 129,747

RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 442,170 517,153
Other debtors 58,274 70,908
500,444 588,061

Trade debtors are stated after provision for impairment of £25,080 (2023 - £10,950).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,664 67,684
Hire purchase contracts (see note 9) 15,325 15,325
Trade creditors 182,905 193,049
Taxation and social security 381,971 344,749
Other creditors 15,712 16,254
603,577 637,061

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 122,121 137,446

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 15,325 15,325
Between one and five years 122,121 137,446
137,446 152,771

RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 63,327 63,327
Between one and five years 47,495 47,495
110,822 110,822

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 7,664 67,684

The bank overdraft is secured by way of a fixed and floating charge and debenture against all of the property and assets of the company.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 35,325 46,547

Deferred
tax
£   
Balance at 1 July 2023 46,547
Accelerated capital allowances (11,222 )
Balance at 30 June 2024 35,325

12. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

RHOMCO CONSULTING LIMITED (REGISTERED NUMBER: 06165648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

13. RELATED PARTY DISCLOSURES

The company operates from premises owned by a pension fund in which the directors are the beneficiaries. During the year rent and service charges of £64,846 (2023 - £64,725) was paid to the the pension fund, and included in prepayments and accrued income is a rent prepayment of £14,962 (2023 - £14,962) for rent paid in advance.

Included in creditors, amounts falling due within one year, is an amount owed to the pension fund of £6,333 (2023 - £6,333).

Included in the profit and loss account of the company are legal and professional fees of NIL (2023 - £18,367) charged from ITF Properties Limited in respect of project costs recovered, a company under common control.

Included in creditors, amounts falling due within one year, is an amount owed to ITF Properties Limited of £4,946 (2023 - £4,946).