Romano 434 Ltd

	Page
Accountant's Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

Report to the directors on the preparation of the unaudited statutory accounts of Romano 434 Ltd for the year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Romano 434 Ltd for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company's accounting records and from information and explanations you have given to us.

As a practising member of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the directors of Romano 434 Ltd , as a body, in accordance with the terms of our engagement letter dated 22 January 2019. Our work has been undertaken solely to prepare for your approval the accounts of Romano 434 Ltd and state those matters that we have agreed to state to the directors of Romano 434 Ltd , as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Romano 434 Ltd and its directors, as a body, for our work or for this report.

It is your duty to ensure that Romano 434 Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Romano 434 Ltd . You consider that Romano 434 Ltd 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 accounts of Romano 434 Ltd . 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 accounts.

Signed

16 December 2025

Glen Drummond Ltd

Chartered Accountants

Argyll House

Quarrywood Court

Livingston

EH54 6AX

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Romano 434 Ltd

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: SC601407

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		36,357		45,446
Tangible Assets	5		23,243		28,305

			59,600		73,751
CURRENT ASSETS
Debtors	6	46,346		46,128
Cash at bank and in hand		57,888		58,011

		104,234		104,139
Creditors: Amounts Falling Due Within One Year	7	(118,928 )		(125,213 )

NET CURRENT ASSETS (LIABILITIES)			(14,694 )		(21,074 )

TOTAL ASSETS LESS CURRENT LIABILITIES			44,906		52,677

Creditors: Amounts Falling Due After More Than One Year	8		(3,911 )		(10,957 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(5,811 )		(7,076 )

NET ASSETS			35,184		34,644

CAPITAL AND RESERVES
Called up share capital	11		2		2
Profit and Loss Account			35,182		34,642

SHAREHOLDERS' FUNDS			35,184		34,644

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Romano 434 Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs G Ballantyne

Director

16 December 2025

The notes on pages 4 to 7 form part of these financial statements.

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Romano 434 Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Romano 434 Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC601407 . The registered office is Argyll House, Quarrywood Court, Livingston, EH54 6AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% straight line
Fixtures & Fittings	20% straight line
Computer Equipment	20% straight line

2.5. Financial Instruments

Basic financial instruments are initially recognised at transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest method, where applicable. These can include trade and other debtors, cash and bank balances, trade and other creditors, and intercompany balances. Financial assets are assessed at the end of each reporting period for evidence of impairment and adjusted if necessary. The company does not hold or issue any complex financial instruments such as derivatives.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Romano 434 Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. 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 the profit and loss account 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2023: 4)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	90,892

As at 31 December 2024	90,892

Amortisation
As at 1 January 2024	45,446
Provided during the period	9,089

As at 31 December 2024	54,535

Net Book Value
As at 31 December 2024	36,357

As at 1 January 2024	45,446

5. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	26,092	9,058	10,303	45,453

As at 31 December 2024	26,092	9,058	10,303	45,453

Depreciation
As at 1 January 2024	2,609	8,666	5,873	17,148
Provided during the period	2,609	392	2,061	5,062

As at 31 December 2024	5,218	9,058	7,934	22,210

Net Book Value
As at 31 December 2024	20,874	-	2,369	23,243

As at 1 January 2024	23,483	392	4,430	28,305

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Romano 434 Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	46,346	46,128

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	9,504	11,966
Bank loans and overdrafts	7,045	7,504
Other creditors	80,847	92,673
Taxation and social security	21,532	13,070

	118,928	125,213

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	3,911	10,957

9. Secured Creditors

Of the creditors the following amounts are secured.

The bank loan is supported by a 100% guarantee from the UK Government.

	2024		2023
	£		£
Bank loans and overdrafts	10,957		18,461

10. Loans

An analysis of the maturity of loans is given below:

	2024	2023
	£	£
Amounts falling due within one year or on demand:
Bank loans	7,045	7,504

	2024	2023
	£	£
Amounts falling due between one and five years:
Bank loans	3,911	10,957

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

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Romano 434 Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

12. Related Party Disclosures

The company operates a loan account with the director, Mrs G Ballantyne.

During the year, the company repaid loans totalling £1,673 to the director. At the year end, the balance due to the director was £32,594 (2023: £34,266). This loan is unsecured, interest free and has no fixed repayment terms.

The company operates a loan account with the director, G L Whannel.

During the year, the company repaid loans totalling £2,283 to the director. At the year end, the balance due to the director was £32,208 (2023: £34,491). This loan is unsecured, interest free and has no fixed repayment terms.

During the year, the company advanced loans totalling £566 to Hopetoun Property Ltd. At the year end, the balance due from Hopetoun Property Ltd was £45,236 (2023: £44,670). This loan is unsecured, interest free and has no fixed repayment terms.

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