Company registration number 04820431 (England and Wales)
Robex Contracting Limited
Unaudited Financial Statements
For the year ended 31 August 2023
PAGES FOR FILING WITH REGISTRAR
Robex Contracting Limited
Contents
Page
Company information
Balance sheet
1
Notes to the financial statements
2 - 5
Robex Contracting Limited
Balance sheet
For the year ended 31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,920
3,078
Current assets
Debtors
4
299,948
274,996
Cash at bank and in hand
604,896
547,194
904,844
822,190
Creditors: amounts falling due within one year
5
(300,370)
(345,806)
Net current assets
604,474
476,384
Total assets less current liabilities
607,394
479,462
Provisions for liabilities
(30,000)
Net assets
607,394
449,462
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
607,294
449,362
Total equity
607,394
449,462
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 9 April 2024
Mr P J Robinson
Director
Company registration number 04820431 (England and Wales)
Robex Contracting Limited
Notes to the Financial Statements
For the year ended 31 August 2023
- 2 -
1
Accounting policies
Company information
Robex Contracting Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Hertfordshire, AL1 1LJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% straight line
Computers
25% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Robex Contracting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2023
1
Accounting policies
(Continued)
- 3 -
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.
1.6
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Current tax
The tax expense represents the sum of the tax currently payable.
1.7
Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
1.8
Retirement benefits
Payments to defined contribution plans are recognised as an expense in the period in which the related service is provided.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Robex Contracting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
5
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2022
6,426
4,925
21,190
32,541
Additions
3,300
3,300
At 31 August 2023
6,426
8,225
21,190
35,841
Depreciation and impairment
At 1 September 2022
6,421
4,499
18,543
29,463
Depreciation charged in the year
812
2,646
3,458
At 31 August 2023
6,421
5,311
21,189
32,921
Carrying amount
At 31 August 2023
5
2,914
1
2,920
At 31 August 2022
5
426
2,647
3,078
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
294,708
269,464
Other debtors
5,240
5,532
299,948
274,996
Robex Contracting Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
81,380
107,022
Taxation and social security
99,356
116,460
Other creditors
119,634
122,324
300,370
345,806