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Registration number: 04768496

Roberts & Co (Bristol) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Roberts & Co (Bristol) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Roberts & Co (Bristol) Limited

(Registration number: 04768496)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

115,130

125,000

Tangible assets

5

6,560

8,511

 

121,690

133,511

Current assets

 

Debtors

6

177,376

173,771

Cash at bank and in hand

 

70,583

59,725

 

247,959

233,496

Creditors: Amounts falling due within one year

7

(79,513)

(77,847)

Net current assets

 

168,446

155,649

Net assets

 

290,136

289,160

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

289,136

288,160

Shareholders' funds

 

290,136

289,160

For the financial year ending 31 May 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 his 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 13 February 2024
 

.........................................
P J Roberts
Director

 

Roberts & Co (Bristol) Limited

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

1

General information

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

The address of its registered office is:
24 High Street
Chipping Sodbury
Bristol
BS37 6AH

These financial statements were authorised for issue by the director on 13 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Roberts & Co (Bristol) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Fixtures, fittings and equipment

6 years

Short leasehold property

Term of lease

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, subject to periodic impairment review by the director to ensure value is fairly stated.

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

10 years

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.

 

Roberts & Co (Bristol) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

2

Accounting policies (continued)

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.

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.

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 the director) during the year, was 7 (2022 - 7).

 

Roberts & Co (Bristol) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2022

290,000

290,000

At 31 May 2023

290,000

290,000

Amortisation

At 1 June 2022

165,000

165,000

Amortisation charge

9,870

9,870

At 31 May 2023

174,870

174,870

Carrying amount

At 31 May 2023

115,130

115,130

At 31 May 2022

125,000

125,000

5

Tangible assets

Short leasehold land and buildings
£

Fixtures, fittings and equipment
£

Total
£

Cost or valuation

At 1 June 2022

2,997

61,107

64,104

Additions

-

1,299

1,299

At 31 May 2023

2,997

62,406

65,403

Depreciation

At 1 June 2022

2,997

52,596

55,593

Charge for the year

-

3,250

3,250

At 31 May 2023

2,997

55,846

58,843

Carrying amount

At 31 May 2023

-

6,560

6,560

At 31 May 2022

-

8,511

8,511

 

Roberts & Co (Bristol) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

6

Debtors

Current

2023
£

2022
£

Trade debtors

62,535

77,236

Other debtors

114,841

96,535

 

177,376

173,771

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,290

2,625

Taxation and social security

64,540

58,711

Other creditors

13,683

16,511

79,513

77,847

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         
 

Roberts & Co (Bristol) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

8,625

17,308

Later than one year and not later than five years

-

8,625

8,625

25,933

The amount of non-cancellable operating lease payments recognised as an expense during the year was £17,308 (2022 - £17,308).