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Registration number: 00862363

Robert J Dutton Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Robert J Dutton Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Robert J Dutton Limited

Company Information

Director

Andrew Warren

Registered office

2 Springfield Road
Shepshed
Leicestershire
LE129QP

Accountants

Andrew Warren Associates

 

Robert J Dutton Limited

(Registration number: 00862363)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

2,000

2,000

Tangible assets

5

352,884

309,439

Other financial assets

6

1,086

1,086

 

355,970

312,525

Current assets

 

Debtors

7

26,962

21,445

Cash at bank and in hand

 

100

100

 

27,062

21,545

Creditors: Amounts falling due within one year

8

(65,542)

(16,665)

Net current (liabilities)/assets

 

(38,480)

4,880

Total assets less current liabilities

 

317,490

317,405

Creditors: Amounts falling due after more than one year

8

(174,150)

(199,000)

Provisions for liabilities

(6,363)

(7,565)

Net assets

 

136,977

110,840

Capital and reserves

 

Called up share capital

9

2,000

2,000

Retained earnings

134,977

108,840

Shareholders' funds

 

136,977

110,840

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The director acknowledges 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 February 2024
 

 

Robert J Dutton Limited

(Registration number: 00862363)
Balance Sheet as at 30 June 2023

.........................................
Andrew Warren
Director

 

Robert J Dutton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
2 Springfield Road
Shepshed
Leicestershire
LE129QP
England

These financial statements were authorised for issue by the director on 28 February 2024.

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 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 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.

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

Land & Buildings

2% on Cost

Plant

20% on Cost

 

Robert J Dutton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Motor Vehicles

20% on Cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

2%

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.

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.

 

Robert J Dutton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2022 - 8).

 

Robert J Dutton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

2,000

2,000

At 30 June 2023

2,000

2,000

Amortisation

Carrying amount

At 30 June 2023

2,000

2,000

At 30 June 2022

2,000

2,000

5

Tangible assets

Land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

266,632

38,178

108,693

413,503

Additions

-

18,750

46,262

65,012

At 30 June 2023

266,632

56,928

154,955

478,515

Depreciation

At 1 July 2022

-

31,020

73,044

104,064

Charge for the year

-

6,136

15,431

21,567

At 30 June 2023

-

37,156

88,475

125,631

Carrying amount

At 30 June 2023

266,632

19,772

66,480

352,884

At 30 June 2022

266,632

7,158

35,649

309,439

Included within the net book value of land and buildings above is £266,632 (2022 - £266,632) in respect of freehold land and buildings.
 

 

Robert J Dutton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2022

1,086

1,086

At 30 June 2023

1,086

1,086

Impairment

Carrying amount

At 30 June 2023

1,086

1,086

7

Debtors

Current

2023
£

2022
£

Trade debtors

24,042

21,445

Other debtors

2,920

-

 

26,962

21,445

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

23,841

13,838

Trade creditors

 

22,234

(9,720)

Taxation and social security

 

19,468

12,548

Other creditors

 

(1)

(1)

 

65,542

16,665

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

174,150

199,000

 

Robert J Dutton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

9

Share capital

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

23,841

13,838

Bank borrowings

CBILS Loan is denominated in with a nominal interest rate of 2.5%, and the final instalment is due on 1 February 2027. The carrying amount at year end is £86,564 (2022 - £113,560).

Other borrowings

Directors loan is denominated in £ with a nominal interest rate of 0%. The carrying amount at year end is £87,586 (2022 - £85,420).

This money has been provided through a directors loan and has been lent to other businessess (using Robert J Dutton as the vehicle) within the shareholding of Andrew Warren. This is non repayable from Robert J Dutton until the companies are in a position to repay. This particular loan was used to purchase a HMO property in Telford which is owed now by Robert J Dutton. This property expected worth is £205,000

11

Dividends

   

2023

 

2022

   

£

 

£

Final dividend of £24,000.00 (2022 - £8,000.00) per ordinary share

 

-

 

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