Room the Agency Limited - Period Ending 2014-07-31

Registration number: 07720544

Room the Agency Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2014
 

Room the Agency Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Room the Agency Limited
for the Year Ended 31 July 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Room the Agency Limited for the year ended 31 July 2014 set out on pages 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Room the Agency Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Room the Agency Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Room the Agency Limited and its Board of Directors as a body for our work or for this report.

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

......................................

Lewis & Co Chartered Accountants
19a Goodge Street
London
W1T 2PH

Date:.............................

Page 1

Room the Agency Limited
(Registration number: 07720544)
Abbreviated Balance Sheet at 31 July 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					17,373			21,261
Current assets
Debtors					45,043			45,581
Cash at bank and in hand					7,878			9,769
					52,921			55,350
Creditors: Amounts falling due within one year					(97,116)			(68,434)
Net current liabilities					(44,195)			(13,084)
Total assets less current liabilities					(26,822)			8,177
Creditors: Amounts falling due after more than one year					(1,000,000)			(750,000)
Net liabilities					(1,026,822)			(741,823)
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					(1,026,823)			(741,824)
Shareholders' deficit					(1,026,822)			(741,823)

For the year ending 31 July 2014 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

Approved by the director on 30 April 2015

.........................................
R Glenister
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Room the Agency Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% on cost
Computer equipment	25% on cost

Research and development

Research and development expenditure is written off as incurred.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2013		37,441			37,441
Additions		1,903			1,903
At 31 July 2014		39,344			39,344
Depreciation
At 1 August 2013		16,180			16,180
Charge for the year		5,791			5,791
At 31 July 2014		21,971			21,971
Net book value
At 31 July 2014		17,373			17,373
At 31 July 2013		21,261			21,261

Page 3

Room the Agency Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years not by instalments		750,000			750,000

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

Page 4