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Registration number: 05851291

Roberts Express Delivery Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2021

 

Roberts Express Delivery Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 15

 

Roberts Express Delivery Limited

Company Information

Directors

Mr S Roberts

Mr U Alonso

Company secretary

Miss T J Roberts

Registered office

7c Beta Close
Tewkesbury Industrial Estate
Tewkesbury
Glos
GL20 8HB

Accountants

Holberton & Co
Nortonbury House
37 High Street
Tewkesbury
Gloucestershire
GL20 5BB

 

Roberts Express Delivery Limited

Directors' Report for the Year Ended 31 December 2021

The directors present their report and the abridged financial statements for the year ended 31 December 2021.

Directors of the company

The directors who held office during the year were as follows:

Mr S Roberts

Mr U Alonso

Principal activity

The principal activity of the company is Courier

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 12 September 2022 and signed on its behalf by:
 

.........................................
Mr S Roberts
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Roberts Express Delivery Limited
for the Year Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Roberts Express Delivery Limited for the year ended 31 December 2021 as set out on pages 4 to 15 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Roberts Express Delivery 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 Roberts Express Delivery Limited and state those matters that we have agreed to state to the Board of Directors of Roberts Express Delivery Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roberts Express Delivery Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Roberts Express Delivery 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 profit of Roberts Express Delivery Limited. You consider that Roberts Express Delivery 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 Roberts Express Delivery 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.

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

Holberton & Co
Nortonbury House
37 High Street
Tewkesbury
Gloucestershire
GL20 5BB

12 September 2022

 

Roberts Express Delivery Limited

Abridged Profit and Loss Account for the Year Ended 31 December 2021

Note

2021
£

2020
£

Gross profit

 

675,185

301,561

Administrative expenses

 

(346,850)

(232,947)

Interest payable and similar expenses

 

(31,973)

(20,302)

Profit before tax

4

296,362

48,312

Tax on profit

 

(52,549)

(15,427)

Profit for the financial year

 

243,813

32,885

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Roberts Express Delivery Limited

Statement of Comprehensive Income for the Year Ended 31 December 2021

2021
£

2020
£

Profit for the year

243,813

32,885

Total comprehensive income for the year

243,813

32,885

 

Roberts Express Delivery Limited

(Registration number: 05851291)
Abridged Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

5

179,162

139,121

Current assets

 

Stocks

6

1,500

1,500

Debtors

603,263

540,192

Cash at bank and in hand

 

359,297

342,994

 

964,060

884,686

Prepayments and accrued income

 

2,451

1,000

Creditors: Amounts falling due within one year

(794,687)

(716,956)

Net current assets

 

171,824

168,730

Total assets less current liabilities

 

350,986

307,851

Creditors: Amounts falling due after more than one year

(103,894)

(137,958)

Provisions for liabilities

(34,041)

(26,550)

Accruals and deferred income

 

(300)

-

Net assets

 

212,751

143,343

Capital and reserves

 

Called up share capital

7

120

120

Retained earnings

212,631

143,223

Shareholders' funds

 

212,751

143,343

For the financial year ending 31 December 2021 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 financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Roberts Express Delivery Limited

(Registration number: 05851291)
Abridged Balance Sheet as at 31 December 2021

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 12 September 2022 and signed on its behalf by:
 

.........................................
Mr S Roberts
Director

 

Roberts Express Delivery Limited

Statement of Changes in Equity for the Year Ended 31 December 2021

Share capital
£

Retained earnings
£

Total
£

At 1 January 2021

120

143,223

143,343

Profit for the year

-

243,813

243,813

Dividends

-

(174,405)

(174,405)

At 31 December 2021

120

212,631

212,751

Share capital
£

Retained earnings
£

Total
£

At 1 January 2020

120

175,811

175,931

Profit for the year

-

32,885

32,885

Dividends

-

(65,473)

(65,473)

At 31 December 2020

120

143,223

143,343

 

Roberts Express Delivery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
7c Beta Close
Tewkesbury Industrial Estate
Tewkesbury
Glos
GL20 8HB

The principal place of business is:
7c Beta Close
Tewkesbury Industrial Estate
Tewkesbury
Glos
GL20 8HB

These financial statements were authorised for issue by the Board on 12 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Roberts Express Delivery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Fixtures and Fittings

25% Reducing Balance

Office Equipment

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Roberts Express Delivery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Roberts Express Delivery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2020 - 24).

4

Profit before tax

Arrived at after charging/(crediting)

2021
£

2020
£

Depreciation expense

39,717

26,945

 

Roberts Express Delivery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2021

14,048

214,665

228,713

Additions

1,258

78,500

79,758

At 31 December 2021

15,306

293,165

308,471

Depreciation

At 1 January 2021

10,269

79,323

89,592

Charge for the year

965

38,752

39,717

At 31 December 2021

11,234

118,075

129,309

Carrying amount

At 31 December 2021

4,072

175,090

179,162

At 31 December 2020

3,779

135,342

139,121

6

Stocks

2021
£

2020
£

Other inventories

1,500

1,500

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary A of £1 each

5

5

5

5

Ordinary B of £1 each

5

5

5

5

Ordinary C of £1 each

5

5

5

5

Ordinary D of £1 each

5

5

5

5

 

120

120

120

120

 

Roberts Express Delivery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

8

Dividends

   

2021

 

2020

   

£

 

£

         

9

Related party transactions

 

Roberts Express Delivery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

Directors' remuneration

The directors' remuneration for the year was as follows:

2021
£

2020
£

Remuneration

10,245

12,895