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COMPANY REGISTRATION NUMBER: 04906341
Richard Roberts International Limited
Filleted Unaudited Abridged Financial Statements
28 February 2023
Richard Roberts International Limited
Abridged Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
147
Current assets
Debtors
433,717
80,941
Cash at bank and in hand
4,153
3,420
----------
---------
437,870
84,361
Creditors: amounts falling due within one year
593,039
630,262
----------
----------
Net current liabilities
155,169
545,901
----------
----------
Total assets less current liabilities
( 155,169)
( 545,754)
Creditors: amounts falling due after more than one year
6
1,552,477
1,005,279
-------------
-------------
Net liabilities
( 1,707,646)
( 1,551,033)
-------------
-------------
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss account
( 1,757,646)
( 1,601,033)
-------------
-------------
Shareholders deficit
( 1,707,646)
( 1,551,033)
-------------
-------------
These abridged 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Richard Roberts International Limited
Abridged Statement of Financial Position (continued)
28 February 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 27 November 2023 , and are signed on behalf of the board by:
Mr D A Bryars
Director
Company registration number: 04906341
Richard Roberts International Limited
Notes to the Abridged 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 The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
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.
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:
Fixture and fittings
-
33% straight line
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 1 ).
5. Tangible assets
£
Cost
At 1 March 2022 and 28 February 2023
1,848
-------
Depreciation
At 1 March 2022
1,701
Charge for the year
147
-------
At 28 February 2023
1,848
-------
Carrying amount
At 28 February 2023
-------
At 28 February 2022
147
-------
6. Creditors: amounts falling due after more than one year
Included creditors due after more than one year is £1,534,789 (2022:£980,044) which is secured by Seaton Investments Limited.
7. Going concern
Although the company made a loss of £156,613 (2022:profit £71,367) for the accounting period, at the balance sheet date the company's current liabilities exceeded its current assets by £155,169 (2022: £545,754), a significant reduction, and the company removed it's previous indebtedness to Barclays Bank plc.
Seaton Investments Limited is willing to continue to support the company financially for the foreseeable future.
Mr D A Bryars has also confirmed that he will continue to support the company for the foreseeable future.
The company expects to be profitable for the foreseeable future.
The financial statements have been prepared on a going concern basis, which the director considers appropriate.
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr D A Bryars
49,647
131,870
( 533,982)
( 352,465)
---------
----------
----------
----------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr D A Bryars
136,403
37,900
( 223,951)
(49,648)
----------
---------
----------
---------
9. Related party transactions
The company received an interest free loan from a related party. At 28 February 2023 the amount outstanding was £1,547,788 (202: £1,012,544). The company provided an interest free loan to a related party. At 28 February 2023 the amount outstanding was £72,500 (2022: £72,500).