16 false false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 16,022 16,022 xbrli:pure xbrli:shares iso4217:GBP 06130427 2022-03-01 2023-02-28 06130427 2023-02-28 06130427 2022-02-28 06130427 2021-03-01 2022-02-28 06130427 2022-02-28 06130427 2021-02-28 06130427 core:NetGoodwill 2022-03-01 2023-02-28 06130427 core:PlantMachinery 2022-03-01 2023-02-28 06130427 core:MotorVehicles 2022-03-01 2023-02-28 06130427 bus:Director1 2022-03-01 2023-02-28 06130427 bus:Director2 2022-03-01 2023-02-28 06130427 core:NetGoodwill 2023-02-28 06130427 core:PlantMachinery 2022-02-28 06130427 core:MotorVehicles 2022-02-28 06130427 core:PlantMachinery 2023-02-28 06130427 core:MotorVehicles 2023-02-28 06130427 core:WithinOneYear 2023-02-28 06130427 core:WithinOneYear 2022-02-28 06130427 core:AfterOneYear 2023-02-28 06130427 core:AfterOneYear 2022-02-28 06130427 core:ShareCapital 2023-02-28 06130427 core:ShareCapital 2022-02-28 06130427 core:RetainedEarningsAccumulatedLosses 2023-02-28 06130427 core:RetainedEarningsAccumulatedLosses 2022-02-28 06130427 core:PlantMachinery 2022-02-28 06130427 core:MotorVehicles 2022-02-28 06130427 bus:SmallEntities 2022-03-01 2023-02-28 06130427 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 06130427 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 06130427 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 06130427 bus:FullAccounts 2022-03-01 2023-02-28 06130427 core:VehiclesPlantMachinery 2022-03-01 2023-02-28 06130427 core:VehiclesPlantMachinery 2022-02-28 06130427 core:VehiclesPlantMachinery 2023-02-28
COMPANY REGISTRATION NUMBER: 06130427
R N Roberts & Sons Limited
Filleted Unaudited Financial Statements
28 February 2023
R N Roberts & Sons Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
481,903
443,389
Current assets
Stocks
5,000
5,000
Debtors
7
276,127
254,176
Cash at bank and in hand
232,274
203,255
---------
---------
513,401
462,431
Creditors: amounts falling due within one year
8
230,452
172,938
---------
---------
Net current assets
282,949
289,493
---------
---------
Total assets less current liabilities
764,852
732,882
Creditors: amounts falling due after more than one year
9
121,658
100,378
Provisions
Taxation including deferred tax
43,890
46,733
---------
---------
Net assets
599,304
585,771
---------
---------
Capital and reserves
Called up share capital
150
150
Profit and loss account
599,154
585,621
---------
---------
Shareholders funds
599,304
585,771
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
R N Roberts & Sons Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 16 October 2023 , and are signed on behalf of the board by:
Mr G N Roberts
Mr R A Roberts
Director
Director
Company registration number: 06130427
R N Roberts & Sons Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is R N Roberts & Sons, Whittle Close Engineer Park, Sandycroft, Deeside, CH5 2QY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company accounting policies.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced for road haulage services during the year, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% reducing balance
Wagons
-
25% reducing balance
Trailors & Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 16 (2022: 19 ).
5. Intangible assets
Goodwill
£
Cost
At 1 March 2022 and 28 February 2023
16,022
--------
Amortisation
At 1 March 2022 and 28 February 2023
16,022
--------
Carrying amount
At 28 February 2023
--------
At 28 February 2022
--------
6. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 March 2022
92,478
791,166
474,175
1,357,819
Additions
2,923
115,350
104,150
222,423
Disposals
( 124,900)
( 36,500)
( 161,400)
--------
---------
---------
------------
At 28 February 2023
95,401
781,616
541,825
1,418,842
--------
---------
---------
------------
Depreciation
At 1 March 2022
70,280
488,961
355,189
914,430
Charge for the year
6,067
100,405
54,159
160,631
Disposals
( 108,117)
( 30,005)
( 138,122)
--------
---------
---------
------------
At 28 February 2023
76,347
481,249
379,343
936,939
--------
---------
---------
------------
Carrying amount
At 28 February 2023
19,054
300,367
162,482
481,903
--------
---------
---------
------------
At 28 February 2022
22,198
302,205
118,986
443,389
--------
---------
---------
------------
7. Debtors
2023
2022
£
£
Trade debtors
196,795
203,800
Other debtors
79,332
50,376
---------
---------
276,127
254,176
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
105,849
73,646
Social security and other taxes
19,201
8,723
Other creditors
105,402
90,569
---------
---------
230,452
172,938
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
121,658
100,378
---------
---------
10. Directors' advances, credits and guarantees
The directors operate current accounts with the company. As follows:
2023
£
Opening Balance (38,828)
Movement in year (21,857)
Closing Balance (60,685)
11. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 section 33.