Romsey Investments Limited - Accounts to registrar (filleted) - small 17.3
Romsey Investments Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| ROMSEY INVESTMENTS LIMITED |
| PREVIOUSLY KNOWN AS |
| MOTORMAST LIMITED |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 |
| ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934) |
| PREVIOUSLY KNOWN AS MOTORMAST LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| ROMSEY INVESTMENTS LIMITED |
| PREVIOUSLY KNOWN AS MOTORMAST LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Exchange |
| 5 Bank Street |
| Bury |
| BL9 0DN |
| ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934) |
| PREVIOUSLY KNOWN AS MOTORMAST LIMITED |
| STATEMENT OF FINANCIAL POSITION |
| 30 JUNE 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserves |
| Other reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934) |
| PREVIOUSLY KNOWN AS MOTORMAST LIMITED |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 JUNE 2017 |
| 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 on |
| ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934) |
| PREVIOUSLY KNOWN AS MOTORMAST LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 1. | STATUTORY INFORMATION |
| Romsey Investments Limited is a private company, limited by shares, registered in England and Wales. The |
| company's registered number is 03171934 and its registered office address is 20 Aldwych Avenue, Rusholme, |
| Manchester, M14 5NL. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company has transitioned to Financial Reporting Standard 102 and the Companies Act 2006 from UK |
| Generally Accepted Accounting Practice. The date of transition is 1 July 2015. |
| The directors have considered the business risks and believe that the company is well placed to manage these |
| risks successfully, thus the going concern basis of accounting has been adopted in preparing these financial |
| statements. |
| Critical accounting estimates and judgements |
| In the application of the company's accounting policies, the director is required to make estimates and |
| judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ |
| from these estimates. |
| Estimating the value of investment property is considered to be a key judgement. |
| Revenue |
| Revenue comprises the aggregate of the fair value of rental services provided. Revenue is recognised as those |
| services that are provided to the occupants of the properties. |
| Investment property |
| Investment properties are recognised at fair value. Revaluation surpluses are recognised in the income statement. |
| Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial |
| assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
| parties and loans to related parties. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
| objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised |
| in the income statement. |
| Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, |
| being the transaction price less any amounts settled. |
| ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934) |
| PREVIOUSLY KNOWN AS MOTORMAST LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. |
| 3. | PROPERTY, PLANT AND EQUIPMENT |
| Computer |
| equipment |
| £ |
| COST |
| At 1 July 2016 |
| and 30 June 2017 |
| DEPRECIATION |
| At 1 July 2016 |
| and 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2016 |
| and 30 June 2017 |
| NET BOOK VALUE |
| At 30 June 2017 |
| At 30 June 2016 |
| ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934) |
| PREVIOUSLY KNOWN AS MOTORMAST LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 4. | INVESTMENT PROPERTY - continued |
| Fair value at 30 June 2017 is represented by: |
| £ |
| Valuation in 2017 | 417,145 |
| Cost | 562,855 |
| 980,000 |
| Investment properties were valued by Bilfinger GVA, property consultants, in September 2016. |
| The directors valued the properties as at 30 June 2017 at the same carrying value. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other debtors |
| Amounts due from related parties | 368,611 | 271,744 |
| Corporation tax refundable |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Amounts due to related parties | 100,357 | 99,857 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| ROMSEY INVESTMENTS LIMITED (REGISTERED NUMBER: 03171934) |
| PREVIOUSLY KNOWN AS MOTORMAST LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 JUNE 2017 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| The bank loans are secured by way of debentures secured against the investment properties. |