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Registration number: 04196793

Robinson Dane Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2023

 

Robinson Dane Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Robinson Dane Limited

Company Information

Director

C M Robinson

Registered office

Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS

Accountants

Azets
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS

 

Robinson Dane Limited

(Registration number: 04196793)
Statement of Financial Position as at 5 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

130

321

Investment property

5

1,489,203

1,500,337

Other financial assets

6

168

161

 

1,489,501

1,500,819

Current assets

 

Debtors

7

36,214

14,966

Cash at bank and in hand

 

573,293

522,091

 

609,507

537,057

Creditors: Amounts falling due within one year

8

(34,746)

(23,662)

Net current assets

 

574,761

513,395

Total assets less current liabilities

 

2,064,262

2,014,214

Provisions for liabilities

(246,695)

(249,524)

Net assets

 

1,817,567

1,764,690

Capital and reserves

 

Called up share capital

1,000

1,000

Share premium reserve

432,720

432,720

Fair value reserve

931,302

939,825

Profit and loss account

452,545

391,145

Total equity

 

1,817,567

1,764,690

 

Robinson Dane Limited

(Registration number: 04196793)
Statement of Financial Position as at 5 April 2023 (continued)

For the financial year ending 5 April 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 financial statements for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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 Income Statement.

Approved and authorised for issue by the director on 31 March 2024
 

.........................................
C M Robinson
Director

 

Robinson Dane Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023

1

General information

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

The address of its registered office is Bulman House, Regent Centre, Gosforth, Newcastle upon Tyne, NE3 3LS.

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.

These financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The company meets its day to day working capital requirements through cash generated from operations.

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its
financial statements.

Revenue recognition

Turnover comprises the fair value of rents receivable 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 and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Robinson Dane Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

 

Office equipment

33% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Listed investments held as fixed assets are carried at fair value, derived from the current market value. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for rents receivable 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.

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.

 

Robinson Dane Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023 (continued)

2

Accounting policies (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 6 April 2022

575

575

At 5 April 2023

575

575

Depreciation

At 6 April 2022

254

254

Charge for the year

191

191

At 5 April 2023

445

445

Carrying amount

At 5 April 2023

130

130

At 5 April 2022

321

321

 

Robinson Dane Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023 (continued)

5

Investment properties

2023
£

At 6 April

1,500,337

Fair value adjustments

(11,134)

At 5 April

1,489,203

The freehold investment properties were valued by the director at 5 April 2023 based on the Land Registry Market Price Index. The director considers the value shown in the financial statements to be similar to that of a fair open market value.

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model as follows:

Aggregate cost at 5 April 2022 & 2023 - £305,585
Aggregate depreciation at 5 April 2022 & 2023 - £Nil
Carrying value at 5 April 2022 & 2023 - £305,585

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 6 April 2022

161

161

Fair value adjustment

7

7

At 5 April 2023

168

168

Carrying amount

At 5 April 2023

168

168

At 5 April 2022

161

161

 

Robinson Dane Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2023 (continued)

7

Debtors

2023
£

2022
£

Trade debtors

 

7,637

3,245

Director's loan account

 

10,007

-

Amounts owed by related undertakings

9

18,553

8,267

Prepayments

 

17

3,454

 

36,214

14,966

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

18,206

14,169

Other creditors

1,055

1,054

Corporation tax liability

15,485

3,711

Directors loan accounts

-

4,728

34,746

23,662

9

Related party transactions

Transactions with the director

2023

At 6 April 2022
£

Advances to director
£

Repayments by director
£

At 5 April 2023
£

C M Robinson

(4,728)

55,433

(40,698)

10,007

         
       

 

2022

At 6 April 2021
£

Advances to director
£

Repayments by director
£

At 5 April 2022
£

C M Robinson

-

55,636

(60,364)

(4,728)