Company registration number 11324026 (England and Wales)
HBB ROMAN WAY LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
HBB ROMAN WAY LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
HBB ROMAN WAY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Inventories
3
6,602,878
4,614,864
Trade and other receivables
4
47,772
5,703
Cash and cash equivalents
17,798
45,366
6,668,448
4,665,933
Current liabilities
5
(4,983,896)
(4,854,124)
Net current assets/(liabilities)
1,684,552
(188,191)
Equity
Called up share capital
8
2
2
Retained earnings
1,684,550
(188,193)
Total equity
1,684,552
(188,191)

The directors of the company have elected not to include a copy of the income statement within the financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9 June 2025 and are signed on its behalf by:
Mr A J Couper
Director
Company registration number 11324026 (England and Wales)
HBB ROMAN WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

HBB Roman Way Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 Kenyon Road, Lomeshaye Industrial Estate, Nelson, Lancashire, BB9 5SP. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Accounting convention

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements have been prepared on the historical cost basis. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is reliant upon financial support from companies within its two shareholding groups in order to meet its liabilities as they fall due.true

The directors have obtained confirmation that the support will continue to be provided for the foreseeable future.

 

The directors therefore consider that, in preparing the financial statements, they have taken into account, all the information that could reasonably be expected to be available.

 

On this basis they consider it is appropriate to prepare the financial statements on the going concern basis.

 

1.3
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

1.4
Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.5
Financial liabilities

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

HBB ROMAN WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Directors
6
6

The directors are remunerated by the shareholder companies.

HBB ROMAN WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
3
Inventories
2024
2023
£
£
Work in progress
6,602,878
4,614,864
4
Trade and other receivables
2024
2023
£
£
Trade receivables
27
-
Unpaid share capital
2
2
VAT recoverable
47,743
5,701
47,772
5,703
5
Liabilities
2024
2023
Notes
£
£
Borrowings
6
1,470,001
4,630,001
Trade and other payables
7
2,952,378
224,123
Corporation tax
561,517
-
0
4,983,896
4,854,124
6
Borrowings
2024
2023
£
£
Borrowings held at amortised cost:
Loans from related parties
1,470,001
4,630,001

Borrowings are amounts loaned to the company by its shareholder companies Barnfield Group Limited and Henry Boot Developments Limited. At 31 December 2024 the company owed £735,000 (2023 - £2,315,000) to Barnfield Group Limited and £735,001 (2023 - £2,315,001) to Henry Boot Developments Limited.

 

Interest is charged at 2.5% above bank base rate on the loan amounts with accrued interest being shown within Accruals and deferred income. The total amount accrued at the year end was £515,212 (2023 - £180,931). There is no set repayment date on the loans.

7
Trade and other payables
2024
2023
£
£
Trade payables
305,056
25,352
Accruals and deferred income
2,647,322
198,771
2,952,378
224,123
HBB ROMAN WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
8
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
2
2
2
2
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Jane Smith
Statutory Auditor:
Pierce C A Limited
Date of audit report:
9 June 2025
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