Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-312023-11-01falseRental property investment00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07432292 2023-11-01 2024-10-31 07432292 2022-11-01 2023-10-31 07432292 2024-10-31 07432292 2023-10-31 07432292 c:Director1 2023-11-01 2024-10-31 07432292 d:FreeholdInvestmentProperty 2024-10-31 07432292 d:FreeholdInvestmentProperty 2023-10-31 07432292 d:CurrentFinancialInstruments 2024-10-31 07432292 d:CurrentFinancialInstruments 2023-10-31 07432292 d:Non-currentFinancialInstruments 2024-10-31 07432292 d:Non-currentFinancialInstruments 2023-10-31 07432292 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 07432292 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 07432292 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 07432292 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 07432292 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-10-31 07432292 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 07432292 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-10-31 07432292 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 07432292 d:ShareCapital 2024-10-31 07432292 d:ShareCapital 2023-10-31 07432292 d:RetainedEarningsAccumulatedLosses 2024-10-31 07432292 d:RetainedEarningsAccumulatedLosses 2023-10-31 07432292 c:OrdinaryShareClass1 2023-11-01 2024-10-31 07432292 c:OrdinaryShareClass1 2024-10-31 07432292 c:OrdinaryShareClass1 2023-10-31 07432292 c:FRS102 2023-11-01 2024-10-31 07432292 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 07432292 c:FullAccounts 2023-11-01 2024-10-31 07432292 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 07432292 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07432292









ROMARONG PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
ROMARONG PROPERTIES LIMITED
REGISTERED NUMBER: 07432292

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Investment property
 4 
531,746
531,746

  
531,746
531,746

CURRENT ASSETS
  

Cash at bank and in hand
  
1,049
1,865

  
1,049
1,865

Creditors: amounts falling due within one year
 5 
(121,978)
(136,569)

NET CURRENT LIABILITIES
  
 
 
(120,929)
 
 
(134,704)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
410,817
397,042

Creditors: amounts falling due after more than one year
 6 
(426,788)
(394,723)

NET (LIABILITIES)/ASSETS
  
(15,971)
2,319


CAPITAL AND RESERVES
  

Called up share capital 
 8 
1
1

Profit and loss account
  
(15,972)
2,318

  
(15,971)
2,319

Page 1

 
ROMARONG PROPERTIES LIMITED
REGISTERED NUMBER: 07432292
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr O B Cole
Director

Date: 21 July 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2

 
ROMARONG PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


GENERAL INFORMATION

Romarong Properties Limited (the 'Company') is a private company limited by shares and incorporated in England and Wales. Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA. Its principal place of business is 337 Histon Road, Cambridge, CB4 3NF.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

At the balance sheet date the Company had net liabilities of £15,971 (2023 - net assets of £2,319). The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive financial support from the director and group undertakings to provide sufficient funds to enable it to meet its liabilities as they fall due. 

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of property rental during the year, exclusive of Value Added Tax. Rental revenue is recognised as the fair value of the consideration recevied or receivable and is recognised in the period to which the rent relates.

 
2.4

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by the director based on professional advice received and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 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.

 
2.6

CREDITORS

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

Page 3

 
ROMARONG PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

3.


EMPLOYEES

The Company has no employees other than the director, who did not receive any remuneration (2023 - £NIL).


4.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 November 2023
531,746



AT 31 OCTOBER 2024
531,746

The 2024 valuations were made by the director based on prrofessional advice received, on an open market value for existing use basis.




5.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
2,000
36,065

Amounts owed to group undertakings
113,344
92,504

Corporation tax
1,610
2,510

Accruals and deferred income
5,024
5,490

121,978
136,569


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.


6.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
426,788
394,723

426,788
394,723


Page 4

 
ROMARONG PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


LOANS


Analysis of the maturity of loans is given below:


2024
2023
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
2,000
36,065


2,000
36,065

AMOUNTS FALLING DUE 1-2 YEARS

Bank loans
1,167
3,167


1,167
3,167


AMOUNTS FALLING DUE AFTER MORE THAN 5 YEARS

Bank loans
425,621
391,556

425,621
391,556

428,788
430,788


Bank loans include a mortgage that is transacted on an interest only basis, bearing interest at a fixed rate of 4.99% for the first 60 months, then a variable rate for the remaining 240 months. The loan is secured against the Company's investment property.
Also included in bank loans represent a Government backed 'Bounce Back Loan' which was drawn down in May 2020. This loan is 100% guaranteed by the government and there were no fees or interest payable in the first 12 months. After this initial 12 month period, interest was charged at a fixed rate of 2.5% per annum.


8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1 (2023 - 1) Ordinary share of £1.00
1
1


 
Page 5