REGISTERED NUMBER: 10792482 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

ROMFORD SOUTH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A D Curtis

A Hodzic

REGISTERED OFFICE:

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

REGISTERED NUMBER:

10792482 (England and Wales)

ACCOUNTANTS:

TGFP

Chartered Accountants

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

FIXED ASSETS

Tangible assets

4

21,716,165

19,074,491

CURRENT ASSETS

Debtors

5

59,313

363,314

Cash at bank and in hand

280,211

50,009

339,524

413,323

CREDITORS

Amounts falling due within one year

6

719,958

692,413

NET CURRENT LIABILITIES

(380,434

)

(279,090

)

TOTAL ASSETS LESS CURRENT LIABILITIES

21,335,731

18,795,401

CREDITORS

Amounts falling due after more than one year

7

(13,261,227

)

(12,825,720

)

PROVISIONS FOR LIABILITIES

(1,627,561

)

(1,090,061

)

NET ASSETS

6,446,943

4,879,620

CAPITAL AND RESERVES

Called up and paid share capital

100

100

Revaluation reserve

9

6,035,446

3,577,946

Retained earnings

411,397

1,301,574

6,446,943

4,879,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2025 and were signed on its behalf by:

A Hodzic - Director

1.	STATUTORY INFORMATION

Romford South Ltd 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 as modified by the revaluation of certain assets.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost and 10% on cost

Freehold property is initially recorded at cost and subsequently at fair value, with fair value gains or losses being recognised in other comprehensive income. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to profit and loss over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Going concern

The financial statements have been prepared on the going concern concept. This assumes that the company will achieve a profitable level of trading and will continue to enjoy the support of it's bankers and connected parties. The financial statements do not account for any adjustments that would be required if the company was unable to achieve these objectives.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 June 2024

19,500,000

39,785

19,539,785

Additions

-

50,579

50,579

Revaluations

2,150,000

-

2,150,000

At 31 May 2025

21,650,000

90,364

21,740,364

DEPRECIATION

At 1 June 2024

455,000

10,294

465,294

Charge for year

390,000

13,905

403,905

Revaluation adjustments

(845,000

)

-

(845,000

)

At 31 May 2025

-

24,199

24,199

NET BOOK VALUE

At 31 May 2025

21,650,000

66,165

21,716,165

At 31 May 2024

19,045,000

29,491

19,074,491

Cost or valuation at 31 May 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2023

4,360,243

-

4,360,243

Valuation in 2025

2,150,000

-

2,150,000

Cost

15,139,757

90,364

15,230,121

21,650,000

90,364

21,740,364

If freehold land and buildings had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

15,139,757

15,139,757

Aggregate depreciation

958,851

656,056

Freehold land and buildings were valued on an open market value basis on 31 May 2025 by Savills .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

45,949

306,904

Other debtors

13,364

56,410

59,313

363,314

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

50,000

36,000

Trade creditors

352,050

165,011

Taxation and social security

125,090

175,147

Other creditors

192,818

316,255

719,958

692,413

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to participating interests

3,311,227

2,801,720

Other creditors

9,950,000

10,024,000

13,261,227

12,825,720

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

50,000

36,000

Bank loans

9,950,000

10,765,000

10,000,000

10,801,000

The loan is secured by way of a fixed and floating charge on the property.

9.

RESERVES

The revaluation reserve is a non-distributable reserve relating to fair value gains or losses on the revaluation of the freehold property, net of related deferred tax.

10.	RELATED PARTY DISCLOSURES

Included in amounts due to participating interests is £3,311,228 (2024 £2,801,720) owing to companies in which one or more directors have an interest in.