Romsley Country Store Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06823855 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MAY 2025

FOR

ROMSLEY COUNTRY STORE LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

M A Hodgetts

M M Hodgetts

Registered office:

Back Lane Farm

St. Kenelms Road

Romsley

Halesowen

B62 0PG

Registered number:

06823855 (England and Wales)

Fixed assets

Intangible assets

4

-

Tangible assets

5

1,110,924

1,144,536

1,110,924

1,144,536

Current assets

Stocks

6

122,476

154,164

Debtors

7

80,239

63,313

Cash at bank and in hand

400,788

332,932

603,503

550,409

Creditors

Amounts falling due within one year

8

231,174

306,361

Net current assets

372,329

244,048

Total assets less current liabilities

1,483,253

1,388,584

Creditors

Amounts falling due after more than one
year

9

(269,293

)

(303,744

)

Provisions for liabilities

11

(33,900

)

(39,500

)

Net assets

1,180,060

1,045,340

Capital and reserves

Called up share capital

12

10,002

Retained earnings

1,170,058

1,035,338

Shareholders' funds

1,180,060

1,045,340

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 7th January 2026 and were signed on its behalf by:

M M Hodgetts - Director

1.	Statutory information

Romsley Country Store Limited 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.

Depreciation is provided at the following rates on the straight line or reducing balance method in order to write off each asset over its estimated useful life:

Freehold property

0%

Improvements to property

10% SL

Plant & machinery

25% RB

Fixtures & fittings

15% RB

Motor vehicles

25% RB

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities.

Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

Hire purchase & leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs & 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.

3.	Employees (including officers)

The average number of employees during the year was 6 (2024 - 5 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1st June 2024

and 31st May 2025

135,000

Amortisation

At 1st June 2024

and 31st May 2025

135,000

Net book value

At 31st May 2025

-

At 31st May 2024

-

5.	Tangible fixed assets

Freehold

Improvmts

Plant &

property

to property

machinery

£

Cost or valuation

At 1st June 2024

897,665

167,409

288,803

Additions

-

11,058

Disposals

-

(3,000

)

At 31st May 2025

897,665

167,409

296,861

Depreciation

At 1st June 2024

-

55,217

216,247

Charge for year

-

14,252

20,672

Eliminated on disposal

-

(2,051

)

At 31st May 2025

-

69,469

234,868

Net book value

At 31st May 2025

897,665

97,940

61,993

At 31st May 2024

897,665

112,192

72,556

Fixtures &

Motor

fittings

vehicles

Totals

£

Cost or valuation

At 1st June 2024

31,865

75,290

1,461,032

Additions

-

7,083

18,141

Disposals

-

(3,000

)

At 31st May 2025

31,865

82,373

1,476,173

Depreciation

At 1st June 2024

17,645

27,387

316,496

Charge for year

2,132

13,748

50,804

Eliminated on disposal

-

(2,051

)

At 31st May 2025

19,777

41,135

365,249

Net book value

At 31st May 2025

12,088

41,238

1,110,924

At 31st May 2024

14,220

47,903

1,144,536

Cost or valuation at 31st May 2025 is represented by:

Freehold

Improvmts

Plant &

property

to property

machinery

£

Valuation in 2018

55,250

-

Valuation in 2021

22,443

-

Cost

819,972

167,409

296,861

897,665

167,409

296,861

Fixtures &

Motor

fittings

vehicles

Totals

£

Valuation in 2018

-

55,250

Valuation in 2021

-

22,443

Cost

31,865

82,373

1,398,480

31,865

82,373

1,476,173

6.

Stocks

31.5.25

31.5.24

£

Stocks

122,476

154,164

7.

Debtors: amounts falling due within one year

31.5.25

31.5.24

£

Trade debtors

180

-

Amounts owed by related parties

74,146

63,313

Other debtors

5,913

-

80,239

63,313

8.

Creditors: amounts falling due within one year

31.5.25

31.5.24

£

Bank loans & overdrafts

32,554

32,952

Trade creditors

94,004

123,910

Amounts owed to related parties

-

31,630

Corporation tax

60,300

44,600

Social security & other taxes

6,787

5,524

Other creditors

29,074

18,250

Directors' current accounts

8,455

49,495

231,174

306,361

9.

Creditors: amounts falling due after more than one year

31.5.25

31.5.24

£

Bank loans - two to five years

91,278

129,019

Bank loans more than five years

178,015

174,725

269,293

303,744

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than five years

178,015

174,725

10.	Secured debts

The following secured debts are included within creditors:

31.5.25

31.5.24

£

Bank loans

301,847

336,696

The bank loan amounting to £289,685 is secured against property owned by the company.

11.	Provisions for liabilities

31.5.25

31.5.24

£

Deferred tax

33,900

39,500

Deferred tax

£

Balance at 1st June 2024

39,500

Utilised during year

(5,600

)

Balance at 31st May 2025

33,900

12.	Called up share capital

Allotted, issued and fully paid:

31.5.25

31.5.24

Nominal

Number

Class

Value

£

4,000

Ordinary A shares

£1

4,000

Ordinary B shares

£1

4,000

2,000

Ordinary C shares

£1

2,000

1

Ordinary I1 shares

£1

1

Ordinary I2 shares

£1

-

1

Ordinary D shares

£1

1

-

10,002

1 ordinary I2 share was reclassified as an ordinary D share on 11th February 2025 .

13.	Contingent liabilities & lease commitments

There were no contingent liabilities as at 31st May 2025.

14.	Related party disclosures

During the year, the directors used a current account with the company to record amounts due to them and amounts drawn by them. The balance at the year end was £8,455 owed by the company (2024: £49,495) .

The following transactions with related parties, on normal commercial terms, took place during the year:

Purchases

Loans
repaid

Debtor
balance

Creditor
balance

£

Entities with common key management personnel

182,690

20,797

74,146

-