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REGISTERED NUMBER: 02750438 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Roma Fittings Limited
T/A
"Plumbing World"

Roma Fittings Limited (Registered number: 02750438)
T/A "Plumbing World"






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

Roma Fittings Limited
T/A "Plumbing World"

Company Information
for the Year Ended 31 December 2024







DIRECTORS: M R Serrell
R M Serrell
J R Serrell
G Grimes





SECRETARY: R M Serrell





REGISTERED OFFICE: Unit 4
Blackheath Trading Estate
Cakemore Road
Rowley Regis
West Midlands
B65 0QN





REGISTERED NUMBER: 02750438 (England and Wales)





ACCOUNTANTS: Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL

Roma Fittings Limited (Registered number: 02750438)
T/A "Plumbing World"

Abridged Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,308,620 316,966
Investments 6 122,697 123,243
1,431,317 440,209

CURRENT ASSETS
Stocks 1,446,212 1,428,695
Debtors 509,919 589,681
Cash at bank and in hand 190,567 304,685
2,146,698 2,323,061
CREDITORS
Amounts falling due within one year 1,571,960 1,386,111
NET CURRENT ASSETS 574,738 936,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,006,055

1,377,159

CREDITORS
Amounts falling due after more than one year 7 (691,014 ) (42,314 )

PROVISIONS FOR LIABILITIES (61,780 ) (58,190 )
NET ASSETS 1,253,261 1,276,655

CAPITAL AND RESERVES
Called up share capital 9 155 145
Share premium 18,630 18,630
Capital redemption reserve 25 25
Retained earnings 1,234,451 1,257,855
SHAREHOLDERS' FUNDS 1,253,261 1,276,655

Roma Fittings Limited (Registered number: 02750438)
T/A "Plumbing World"

Abridged Balance Sheet - continued
31 December 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 May 2025 and were signed on its behalf by:





M R Serrell - Director


Roma Fittings Limited (Registered number: 02750438)
T/A "Plumbing World"

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Roma Fittings 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Roma Fittings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Roma Fittings Limited (Registered number: 02750438)
T/A "Plumbing World"

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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 debtors 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of
impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that
occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not
exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or
are settled, or when the company transfers the financial asset and substantially all the risks and rewards of
ownership to another entity, or if some significant risks and rewards of ownership are retained but control of
the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are
not amortised.


Roma Fittings Limited (Registered number: 02750438)
T/A "Plumbing World"

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or
cancelled.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 32 ) .

Roma Fittings Limited (Registered number: 02750438)
T/A "Plumbing World"

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024
and 31 December 2024 200,800
AMORTISATION
At 1 January 2024
and 31 December 2024 200,800
NET BOOK VALUE

At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 712,644
Additions 1,131,705
Disposals (56,906 )
At 31 December 2024 1,787,443
DEPRECIATION
At 1 January 2024 395,678
Charge for year 92,624
Eliminated on disposal (9,479 )
At 31 December 2024 478,823
NET BOOK VALUE
At 31 December 2024 1,308,620
At 31 December 2023 316,966

Roma Fittings Limited (Registered number: 02750438)
T/A "Plumbing World"

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. FIXED ASSET INVESTMENTS

Information on investments is as follows:


Subsidiary
shares

Racehorses


Totals
COST
1 January 2024 300 85,050 85,350
Additions - 80,777 80,777
31 December 2024 300 165,827 166,127

IMPAIRMENT PROVISION
1 January 2024 - - -
Impairment in the year - 42,884 42,884
31 December 2024 - 42,884 42,884

NET BOOK VALUE
31 December 2024 300 122,943 123,243

31 December 2023 300 85,050 85,350

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.12.24 31.12.23
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 234,395 -

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Hire purchase contracts 76,861 72,066

Clydesdale Bank PLC hold a debenture comprising a fixed and floating charge over the undertaking and all property and assets both present and future, including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery.

Roma Fittings Limited (Registered number: 02750438)
T/A "Plumbing World"

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid
Number: Class: Nominal Value: 2024 2024
85 Ordinary A £1 £85 £85
50 Ordinary B £1 £50 £50
10 Ordinary C £1 £10 £10
£145 £145

The following shares were repurchased in February 2025 and cancelled:
10 Ordinary C shares and 50 Ordinary B Shares.

10. CONTINGENT LIABILITIES

There were no material contingent liabilities at the year end.


11. POST BALANCE SHEET EVENTS

There were no material post balance sheet events.


Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Roma Fittings Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Roma Fittings Limited for the year ended 31 December 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Roma Fittings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Roma Fittings Limited and state those matters that we have agreed to state to the Board of Directors of Roma Fittings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roma Fittings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Roma Fittings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Roma Fittings Limited. You consider that Roma Fittings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Roma Fittings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL


1 May 2025