Rorem Financial Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07910641

Rorem Financial Limited

Filleted Unaudited Financial Statements

31 March 2025

Rorem Financial Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

Rorem Financial Limited

Officers and Professional Advisers

Director	Mr S Cornes

Company secretary	Darren Mullinder

Registered office	Fernhill Estate Office
	Fernhill Road
	Sutton
	Newport
	Shropshire
	England
	TF10 8DJ

Accountants	Riverside Accountancy Lancaster Limited
	Chartered accountants
	Suite 2, 2 Mannin Way
	Lancaster Business Park
	Caton Road
	Lancaster
	LA1 3SU

Bankers	Lloyds
	125 Colmore Row
	Birmingham
	B3 3SD

Rorem Financial Limited

Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Rorem Financial Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rorem Financial Limited for the year ended 31 March 2025, which comprise the statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Rorem Financial Limited in accordance with the terms of our engagement letter dated 2 September 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Rorem Financial Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rorem Financial Limited and its director for our work or for this report.

It is your duty to ensure that Rorem Financial 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 Rorem Financial Limited. You consider that Rorem Financial 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 Rorem Financial 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.

Riverside Accountancy Lancaster Limited Chartered accountants

Suite 2, 2 Mannin Way Lancaster Business Park Caton Road Lancaster LA1 3SU

8 December 2025

Rorem Financial Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	1,479,500	1,340,773

Current assets

Debtors	5	101,958	98,045
Cash at bank and in hand		29,553	161,018
		---------	---------
		131,511	259,063

Creditors: amounts falling due within one year	6	7,248,660	7,038,928
		------------	------------
Net current liabilities		7,117,149	6,779,865
		------------	------------
Total assets less current liabilities		( 5,637,649)	( 5,439,092)

Creditors: amounts falling due after more than one year	7	2,774,236	2,973,816
		------------	------------
Net liabilities		( 8,411,885)	( 8,412,908)
		------------	------------

Capital and reserves

Called up share capital	8	200	200
Profit and loss account		( 8,412,085)	( 8,413,108)
		------------	------------
Shareholders deficit		( 8,411,885)	( 8,412,908)
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Rorem Financial Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 8 December 2025 , and are signed on behalf of the board by:

Mr S Cornes
Director

Company registration number: 07910641

Rorem Financial Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fernhill Estate Office, Fernhill Road, Sutton, Newport, Shropshire, TF10 8DJ, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements are rounded to the nearest £1.

Going concern

The company has a deficit of assets at the year end, the company has full support of its directors and therefore they believe it to be appropriate to prepare the accounts on a going concern basis. However, the company does hold some land which has significant investment value in the future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Freehold property
	£
Cost
At 1 April 2024	1,340,773
Additions	138,727
	------------
At 31 March 2025	1,479,500
	------------
Depreciation
At 1 April 2024 and 31 March 2025	–
	------------
Carrying amount
At 31 March 2025	1,479,500
	------------
At 31 March 2024	1,340,773
	------------

5. Debtors

	2025	2024
	£	£
Trade debtors	7,598	–
Other debtors	94,360	98,045
	---------	--------
	101,958	98,045
	---------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	54,516	46,673
Other creditors	7,194,144	6,992,255
	------------	------------
	7,248,660	7,038,928
	------------	------------

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	2,774,236	2,973,816
	------------	------------

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A Shares shares of £ 1 each	100	100	100	100
Ordinary B Shares shares of £ 1 each	100	100	100	100
	----	----	----	----
	200	200	200	200
	----	----	----	----

9. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024 : 2).

10. Related party transactions

Included within debtors is a balance of £91,505 (2024 - 83,907) owed by connected companies in which Mr S Cornes has an interest. This represents the maximum amounts owing in the year. In the year no interest has been charged. There is an amount included in creditors due within one year of £7,192,494 (2024 - £6,990,605) which is owed to connected companies.

11. Controlling party

The company was under the control of Mr S Cornes throughout the current period. Under the Articles of Association, Parkhill 2000 Limited is the ultimate beneficiary of the economic value of the company.