Romana Freehold Limited Small abbreviated accounts

ROMANA FREEHOLD LIMITED - Company Information

FY Private Limited Company Company accounts 2017-01-05 2017-01-05 false true false false false false false false false false false false true true 2015-06-01 true xbrli:pure xbrli:shares iso4217:GBP 06236921 2015-06-01 2016-05-31 06236921 2016-05-31 06236921 2015-05-31 06236921 2015-05-31 06236921 uk-gaap:OfficeEquipment 2015-06-01 2016-05-31 06236921 uk-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 06236921 uk-bus:Director1 2015-06-01 2016-05-31 06236921 uk-gaap:AllSubsidiaries 2015-06-01 2016-05-31 06236921 uk-bus:OrdinaryShareClass1 2016-05-31 06236921 uk-bus:OrdinaryShareClass1 2015-05-31 06236921 uk-lang:English 2015-06-01 2016-05-31 06236921 uk-curr:PoundSterling 2015-06-01 2016-05-31

COMPANY REGISTRATION NUMBER 06236921

Romana Freehold Limited

Unaudited abbreviated accounts

31 May 2016

Romana Freehold Limited

Abbreviated balance sheet

31 May 2016

		2016		2015
Note		£	£	£
Fixed assets	2
Tangible assets			246,706	246,706
			----------	----------

Current assets

Debtors	10,653		39,674
Cash at bank and in hand	12,623		10,704
	---------		---------
	23,276		50,378
Creditors: amounts falling due within one year	5,517		4,922
	---------		---------
Net current assets		17,759	45,456
		----------	----------
Total assets less current liabilities		264,465	292,162
		----------	----------

Capital and reserves

Called up equity share capital	3	254,000	254,000
Profit and loss account		10,465	38,162
		----------	----------
Shareholders' funds		264,465	292,162
		----------	----------

For the year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

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

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

These abbreviated accounts were approved by the directors and authorised for issue on 15 December 2016 , and are signed on their behalf by:

Mr A J Coleman Director

Company Registration Number: 06236921

Romana Freehold Limited

Notes to the abbreviated accounts

year ended 31 May 2016

1. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year.

Fixed assets

Tangible fixed assets other than freehold land are stated at cost less depreciation.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Computer Equipment-25% Straight Line Basis

Financial instruments

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2. Fixed assets

	Tangible Assets
	£

Cost

At 1 June 2015 and 31 May 2016	246,956
	----------

Depreciation

At 1 June 2015	250
	----------
At 31 May 2016	250
	----------

Net book value

At 31 May 2016	246,706
	----------

At 31 May 2015	246,706
	----------

3. Share capital

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 100 each	2,540	254,000	2,540	254,000
	-------	----------	-------	----------

4. GOING CONCERN

In the course of preparing the financial statements for the year ended 31 May 2016, the directors have assessed whether the company is a going concern. The directors have considered all available information about the future and will ensure that the company has adequate resources available to finance its activities and other obligations during the course of the next twelve months and therefore, no material uncertainties have been identified by the directors that may cast any significant doubt about the ability of the company to continue as a going concern.