REGISTERED NUMBER: |
JOHN ROBSON (METALS) LIMITED |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
REGISTERED NUMBER: |
JOHN ROBSON (METALS) LIMITED |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 4 |
Statement of Comprehensive Income | 8 |
Balance Sheet | 9 |
Statement of Changes in Equity | 10 |
Cash Flow Statement | 11 |
Notes to the Cash Flow Statement | 12 |
Notes to the Financial Statements | 13 |
JOHN ROBSON (METALS) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Shorrock House |
1 Faraday Court |
Fulwood |
Preston |
Lancashire |
PR2 9NB |
BANKERS: |
8 Berry Lane |
Longridge |
Preston |
Lancashire |
PR3 3LB |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 30 APRIL 2023 |
The directors present their strategic report for the year ended 30 April 2023. |
REVIEW OF BUSINESS |
The company provides services of dismantling, demolition and disposal exclusively to the heavy electrical supply industry. We are centrally based in the north west of England and our services are nationwide. |
The business continues to develop and is successfully navigating the incremental regulation requirements whilst being watchful of running costs and overheads. Internal record keeping systems are being developed further, helping to identify profit opportunities and cost savings. |
The company continues to expand into new markets whilst maintaining their core client base that has developed over many years. The directors use their experience to monitor Key Performance Indicators (KPIs) on a regular basis using their internal systems. |
During the last financial year the process of refining the quality and delivery of our services to our established clients has continued with opportunities from new clients being turned into good business. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The directors have considered the principal risks and uncertainties which face the business and are satisfied that they have systems in place to address these risks. These matters are reviewed on a regular basis and include strategies for maintaining and improving health and safety and for the training and development of staff. |
As with almost all industries, the construction industry continues to face the economic uncertainties surrounding Brexit. As a consequence, the risks around this continue to be monitored and the directors remain cautious as to future trading levels. |
KEY PERFORMANCE INDICATORS |
The main financial Key Performance Indicators (KPI's) are turnover, gross profit and operating (loss)/profit. The results for the year are as follows: |
30 April 2023 | 30 April 2022 |
£ | £ |
Turnover | 6,774,749 | 11,648,732 |
Gross Profit | 5,314,874 | 7,936,600 |
Operating (loss)/profit | (1,579,658) | 1,316,110 |
Year ending 2023 saw a slower start to the RIIO T2 framework period than originally expected. Workload slowed down somewhat and the value of contracts awarded were considerably less than previous years. |
Investment in the business continued with development works at both sites to help improve processing and efficiencies when back up to full capacity. The Directors have looked to implement cost savings where possible across the business and continue to offer bespoke services within our industry. |
ON BEHALF OF THE BOARD: |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2023 |
The directors present their report with the financial statements of the company for the year ended 30 April 2023. |
DIVIDENDS |
An interim dividend of |
The total distribution of dividends for the year ended 30 April 2023 will be £ |
RESEARCH AND DEVELOPMENT |
The company is currently developing software to assist with wastage whilst on site. |
FUTURE DEVELOPMENTS |
The company is looking to expand their current site and maintain their current market position. After several years of large investment across both of our operational sites and plant and vehicle fleets, we are now in a position to increase waste volumes processed through the sites by tendering for DNO disposal frameworks that we have previously declined. Such frame works would potentially bring our turnover back to recent levels aligned with increased and improved efficiencies and production. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2022 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
JOHN ROBSON (METALS) LIMITED |
Opinion |
We have audited the financial statements of John Robson (Metals) Limited (the 'company') for the year ended 30 April 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 April 2023 and of its loss for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
JOHN ROBSON (METALS) LIMITED |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
JOHN ROBSON (METALS) LIMITED |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Identifying and assessing potential risks related to irregularities |
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: |
- The nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, bonus levels and performance targets; |
- Enquiring of management, including obtaining and reviewing supporting documentation, concerning the company's policies and procedures relating to: |
- Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; |
- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; |
- The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. |
- Discussing among the engagement team and involving relevant internal specialists, including tax specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud, and; |
- Obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements, such as provisions of the UK Companies Act, pensions legislation and tax legislation or that had a fundamental effect on the operations of the company, including the General Data Protection requirements, Anti-bribery and corruption policies and health and safety laws and regulations pertaining to this industry. |
Audit response to risks identified |
As a result of performing the above procedures, we did not identify any key audit matters related to the potential risk of fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. |
In addition to the above, our procedures to respond to risks identified included the following: |
- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
- Enquiring of management, and in-house legal counsel concerning actual and potential litigation and claims; |
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and |
- Reading available minutes of meeting of those charged with governance and any available correspondence with regulators. |
Addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
JOHN ROBSON (METALS) LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
Statutory Auditors |
Shorrock House |
1 Faraday Court |
Fulwood |
Preston |
Lancashire |
PR2 9NB |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
STATEMENT OF COMPREHENSIVE |
INCOME |
FOR THE YEAR ENDED 30 APRIL 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
(1,579,658 | ) | 1,316,104 |
Other operating income |
OPERATING (LOSS)/PROFIT | 5 | ( |
) |
Interest receivable and similar income |
(LOSS)/PROFIT BEFORE TAXATION | ( |
) |
Tax on (loss)/profit | 6 | ( |
) |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR | ( |
) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
) |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
BALANCE SHEET |
30 APRIL 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Stocks | 9 |
Debtors | 10 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 11 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 12 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 APRIL 2023 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 May 2021 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 30 April 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 April 2023 |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | ( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities | ( |
) |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Amount introduced by directors | 250,250 | 250,250 |
Amount withdrawn by directors | (139,593 | ) | (323,744 | ) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
(Decrease)/increase in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
1,670,805 |
Cash and cash equivalents at end of year | 2 | 977,733 | 2,485,620 |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2023 |
1. | RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2023 | 2022 |
£ | £ |
(Loss)/profit before taxation | ( |
) |
Depreciation charges |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Finance income | (8,652 | ) | (369 | ) |
(1,213,409 | ) | 1,649,691 |
Decrease/(increase) in stocks | ( |
) |
Decrease in trade and other debtors |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations | ( |
) |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 April 2023 |
30.4.23 | 1.5.22 |
£ | £ |
Cash and cash equivalents | 977,733 | 2,485,620 |
Year ended 30 April 2022 |
30.4.22 | 1.5.21 |
£ | £ |
Cash and cash equivalents | 2,485,620 | 1,670,805 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.5.22 | Cash flow | At 30.4.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 2,485,620 | (1,507,887 | ) | 977,733 |
2,485,620 | ( |
) | 977,733 |
Total | 2,485,620 | (1,507,887 | ) | 977,733 |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
1. | STATUTORY INFORMATION |
John Robson (Metals) Limited is a |
The company provides services relating to the controlled dismantling and demolition of high voltage substations throughout the United Kingdom. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under FRS 102. The financial statements are presented in Sterling (£) and are rounded to the nearest £1. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the controlled dismantling and demolition of high voltage substations and from sale of goods. |
Rendering of services |
Turnover from the rendering of dismantling and demolition services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by specific milestones set out in the initial quote and is applied for each month. |
Sale of goods |
Turnover from the sale of goods is recognised when the significant risks and rewards of the ownership of the goods is transferred to the buyer. This is usually at the point when the customer has signed for the delivery of the goods. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Plant and equipment | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
On transition to FRS102 the property and improvements to property have been depreciated over a useful economic life of 50 years. |
Stocks and long term contracts |
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. |
When the outcome of a contract can be assessed with reasonable certainty an appropriate proportion of total contract value is included in turnover. The costs incurred in reaching that stage of completion are matched with this turnover. Hence the profit recognised in the accounts is the profit on the proportion of the contract completed by the balance sheet date. Where the directors expect an overall loss on a contract this is recognised as soon as it is foreseen. |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company contributes to various defined contribution pension schemes. Contributions payable are charged to the profit and loss account in the period to which they relate. |
Judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
3. | TURNOVER |
The turnover and loss (2022 - profit) before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
2023 | 2022 |
£ | £ |
United Kingdom |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
4. | EMPLOYEES AND DIRECTORS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2023 | 2022 |
Productive labour | 55 | 56 |
Administration | 15 | 13 |
The company operates a stakeholder defined contribution pension scheme for the benefit of the employees and directors. The assets of the scheme are administered by an independent pension provider. Pension payments recognised as an expense during the year amounted to £88,976 (2022: £75,931). At the year end the pension creditor was £15,104 (2022: £28,994). |
2023 | 2022 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
Information regarding the highest paid director is as follows: |
2023 | 2022 |
£ | £ |
Emoluments etc |
Pension contributions to money purchase schemes |
5. | OPERATING (LOSS)/PROFIT |
The operating loss (2022 - operating profit) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Haulage and equipment hire |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Auditors' remuneration |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
6. | TAXATION |
Analysis of the tax (credit)/charge |
The tax (credit)/charge on the loss for the year was as follows: |
2023 | 2022 |
£ | £ |
Current tax: |
UK corporation tax |
Under/(over) provision in earlier years | 69 | (21 | ) |
Total current tax |
Origination and reversal of timing differences | ( |
) |
Tax on (loss)/profit | ( |
) |
Reconciliation of total tax (credit)/charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
2023 | 2022 |
£ | £ |
(Loss)/profit before tax | ( |
) |
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) | ( |
) |
Capital allowances in excess of depreciation | ( |
) | ( |
) |
Adjustments to tax charge in respect of previous periods | ( |
) | ( |
) |
Origination and reversal of timing differences | (18,438 | ) | 41,409 |
Total tax (credit)/charge | (18,369 | ) | 254,964 |
Deferred tax balances at the balance sheet date have been calculated using a rate of 19%, on the basis that this rate had been substantively enacted at the balance sheet date. |
7. | DIVIDENDS |
2023 | 2022 |
£ | £ |
Ordinary shares of £1 each |
Interim |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
8. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | equipment |
£ | £ | £ |
COST |
At 1 May 2022 |
Additions |
Disposals | ( |
) |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
9. | STOCKS |
2023 | 2022 |
£ | £ |
Raw materials |
10. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Directors' current accounts | 3,321 | 220 |
Prepayments and accrued income |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
10. | DEBTORS - continued |
2023 | 2022 |
£ | £ |
Amounts falling due after more than one year: |
Tax |
Aggregate amounts |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 143,088 | 29,330 |
Accrued expenses |
12. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 223,263 | 241,701 |
Deferred |
tax |
£ |
Balance at 1 May 2022 |
Credit to Statement of Comprehensive Income during year | ( |
) |
Balance at 30 April 2023 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 2,202,000 | 2,202,000 |
14. | CAPITAL COMMITMENTS |
2023 | 2022 |
£ | £ |
Contracted but not provided for in the |
financial statements |
JOHN ROBSON (METALS) LIMITED (REGISTERED NUMBER: 01149471) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
15. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 April 2023 and 30 April 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
16. | RELATED PARTY DISCLOSURES |
At the year end the following balances were due with related parties: |
2023 | 2022 |
£ | £ |
Loans from shareholders | 434,796 | 472,710 |
Loans to key management personnel | 87,638 | 11,397 |
Remuneration of key management personnel | 114,016 | 267,600 |
Rent paid to key management personnel | 26,000 | 26,000 |
Dividends paid to directors | 250,250 | 250,250 |
2023 | 2022 |
£ | £ |
Sales |
Purchases |
Amount due to related party |
17. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the director, Mrs E Slater. |