Company Registration No. 02300663 (England and Wales)
ROBINSON & LAWLOR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2023
30 September 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ROBINSON & LAWLOR LIMITED
COMPANY INFORMATION
Directors
Mr S Robinson
Mr N Robinson
Secretary
Mr A J Blake
Company number
02300663
Registered office
Hope House
Lomeshaye Road
Nelson
Lancashire
BB9 7AP
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ROBINSON & LAWLOR LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ROBINSON & LAWLOR LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
38,186
325,803
Current assets
Stocks
1,023,083
81,942
Debtors
4
2,288,398
1,141,849
Investments
5
7,500
-
0
Cash at bank and in hand
50,385
49,781
3,369,366
1,273,572
Creditors: amounts falling due within one year
6
(2,316,078)
(725,684)
Net current assets
1,053,288
547,888
Total assets less current liabilities
1,091,474
873,691
Creditors: amounts falling due after more than one year
7
(131,656)
(196,149)
Provisions for liabilities
(9,759)
(9,653)
Deferred income
-
0
(5,000)
Net assets
950,059
662,889
Capital and reserves
Called up share capital
101,000
101,000
Revaluation reserve
-
0
186,144
Capital redemption reserve
100,000
100,000
Profit and loss reserves
749,059
275,745
Total equity
950,059
662,889

The notes on pages 3 to 7 form part of these financial statements.

ROBINSON & LAWLOR LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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 by the board of directors and authorised for issue on 8 February 2024 and are signed on its behalf by:
Mr S Robinson
Director
Company registration number 02300663 (England and Wales)
ROBINSON & LAWLOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information

Robinson & Lawlor Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hope House, Lomeshaye Road, Nelson, Lancashire, BB9 7AP.

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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. 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. Where the outcome of a transaction can be estimated reliably for contract work in progress revenue associated with the transaction is recognised by reference to the stage of completion at the year end.

 

 

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:

Freehold land and buildings
2% on valuation
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
25% on cost
Motor vehicles
25% on reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

 

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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.

ROBINSON & LAWLOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

1.9
Grants

Gants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
36
35
ROBINSON & LAWLOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 October 2022
275,000
120,555
24,168
63,423
47,368
530,514
Additions
-
0
4,504
-
0
560
-
0
5,064
Disposals
(275,000)
(73,807)
-
0
(52,107)
(5,800)
(406,714)
At 30 September 2023
-
0
51,252
24,168
11,876
41,568
128,864
Depreciation and impairment
At 1 October 2022
-
0
102,744
23,904
57,369
20,694
204,711
Depreciation charged in the year
-
0
4,982
264
1,866
7,868
14,980
Eliminated in respect of disposals
-
0
(73,807)
-
0
(52,107)
(3,099)
(129,013)
At 30 September 2023
-
0
33,919
24,168
7,128
25,463
90,678
Carrying amount
At 30 September 2023
-
0
17,333
-
0
4,748
16,105
38,186
At 30 September 2022
275,000
17,811
264
6,054
26,674
325,803
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,780,634
1,048,515
Other debtors
507,764
93,334
2,288,398
1,141,849
5
Current asset investments
2023
2022
£
£
Other investments
7,500
-
0
ROBINSON & LAWLOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
90,646
69,907
Trade creditors
955,659
124,154
Taxation and social security
424,065
136,325
Other creditors
845,708
395,298
2,316,078
725,684
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
120,834
178,833
Other creditors
10,822
17,316
131,656
196,149
8
Secured debts

Included in creditors are secured debts of £195,649 (2022 - £474,129). These debts are secured on the assets of the company.

9
Operating lease commitments
Lessee

At the balance sheet date the company had total commitments, in respect of operating leases of:

2023
2022
£
£
147,336
87,352
ROBINSON & LAWLOR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
10
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr S Robinson - Loan
-
31,915
6,843
(6,843)
31,915
31,915
6,843
(6,843)
31,915
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