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Registration number: NI636502

D Robinson & Son Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

D Robinson & Son Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

D Robinson & Son Ltd

(Registration number: NI636502)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

19,762

9,612

Current assets

 

Stocks

6

245,384

182,420

Debtors

7

17,499

12,179

 

262,883

194,599

Creditors: Amounts falling due within one year

8

(217,921)

(224,745)

Net current assets/(liabilities)

 

44,962

(30,146)

Total assets less current liabilities

 

64,724

(20,534)

Creditors: Amounts falling due after more than one year

8

(104,419)

(7,398)

Net liabilities

 

(39,695)

(27,932)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(39,795)

(28,032)

Shareholders' deficit

 

(39,695)

(27,932)

For the financial year ending 31 March 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 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2024 and signed on its behalf by:
 

.........................................
Mr Donald Robinson
Director

.........................................
Mr David Robinson
Director

 
     
 

D Robinson & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
51-53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ

These financial statements were authorised for issue by the Board on 12 March 2024.

2

Accounting policies

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.

Going concern

At 31 March 2023 the company's liabilities exceeded it's assets. The company is therefore dependent on it's continuing financial support from it's directors.The directors have confirmed that they will not withdraw their loans to the company until it has become solvent.

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

Plant and machinery

10% straight line basis

Motor vehicles

25% reducing balance basis

 

D Robinson & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

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.

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 2 (2022 - 3).

 

D Robinson & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

5,120

8,275

5

Tangible assets

Motor vehicles
 £

Plant & Machinery
£

Total
£

Cost or valuation

At 1 April 2022

39,550

28,837

68,387

Additions

13,250

6,500

19,750

Disposals

(11,200)

-

(11,200)

At 31 March 2023

41,600

35,337

76,937

Depreciation

At 1 April 2022

29,938

28,837

58,775

Charge for the year

4,470

650

5,120

Eliminated on disposal

(6,720)

-

(6,720)

At 31 March 2023

27,688

29,487

57,175

Carrying amount

At 31 March 2023

13,912

5,850

19,762

At 31 March 2022

9,612

-

9,612

6

Stocks

2023
£

2022
£

Stock and work in progress

245,384

182,420

7

Debtors

Current

2023
£

2022
£

Trade debtors

11,338

9,200

Other debtors

6,161

2,979

 

17,499

12,179

 

D Robinson & Son Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

74,674

93,446

Trade creditors

 

37,360

18,500

Taxation and social security

 

3

-

Accruals and deferred income

 

8,143

13,300

Other creditors

 

97,741

99,499

 

217,921

224,745

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

104,419

7,398

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100