Acorah Software Products - Accounts Production 14.5.601 false true 13 July 2022 14 July 2021 false 14 July 2022 13 July 2023 13 July 2023 07887928 Mr Darren Bilmen Mr Rizwan Qayyum iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07887928 2022-07-13 07887928 2023-07-13 07887928 2022-07-14 2023-07-13 07887928 frs-core:Non-currentFinancialInstruments 2023-07-13 07887928 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-13 07887928 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-07-14 2023-07-13 07887928 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-07-13 07887928 frs-core:MotorVehicles 2023-07-13 07887928 frs-core:MotorVehicles 2022-07-14 2023-07-13 07887928 frs-core:MotorVehicles 2022-07-13 07887928 frs-core:PlantMachinery 2023-07-13 07887928 frs-core:PlantMachinery 2022-07-14 2023-07-13 07887928 frs-core:PlantMachinery 2022-07-13 07887928 frs-core:RevaluationReserve 2022-07-13 07887928 frs-core:RevaluationReserve 2023-07-13 07887928 frs-core:ShareCapital 2023-07-13 07887928 frs-core:RetainedEarningsAccumulatedLosses 2023-07-13 07887928 frs-bus:PrivateLimitedCompanyLtd 2022-07-14 2023-07-13 07887928 frs-bus:FilletedAccounts 2022-07-14 2023-07-13 07887928 frs-bus:SmallEntities 2022-07-14 2023-07-13 07887928 frs-bus:AuditExempt-NoAccountantsReport 2022-07-14 2023-07-13 07887928 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-14 2023-07-13 07887928 frs-bus:Director1 2022-07-14 2023-07-13 07887928 frs-bus:Director2 2022-07-14 2023-07-13 07887928 frs-countries:EnglandWales 2022-07-14 2023-07-13 07887928 2021-07-13 07887928 2022-07-13 07887928 2021-07-14 2022-07-13 07887928 frs-core:Non-currentFinancialInstruments 2022-07-13 07887928 frs-core:RevaluationReserve 2022-07-13 07887928 frs-core:ShareCapital 2022-07-13 07887928 frs-core:RetainedEarningsAccumulatedLosses 2022-07-13
Registered number: 07887928
Robust It Limited
Unaudited Financial Statements
For The Year Ended 13 July 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07887928
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 415,131 295,661
415,131 295,661
CURRENT ASSETS
Stocks 6,300 5,000
Debtors 302,387 101,940
Cash at bank and in hand 3,716 305,679
312,403 412,619
Creditors: Amounts Falling Due Within One Year (104,063 ) (186,111 )
NET CURRENT ASSETS (LIABILITIES) 208,340 226,508
TOTAL ASSETS LESS CURRENT LIABILITIES 623,471 522,169
Creditors: Amounts Falling Due After More Than One Year (214,430 ) (197,757 )
NET ASSETS 409,041 324,412
CAPITAL AND RESERVES
Called up share capital 5 1,200 1,200
Revaluation reserve 6 134,420 134,420
Profit and Loss Account 273,421 188,792
SHAREHOLDERS' FUNDS 409,041 324,412
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Page 2
For the year ending 13 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Darren Bilmen
Director
Mr Rizwan Qayyum
Director
28/03/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Robust It Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07887928 . The registered office is Harlow Enterprise Hub, Kao Hockham Building, Edinburgh Way, Harlow, CM20 2NQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 270000
Plant & Machinery 75239
Motor Vehicles 2865
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2022: 18)
15 18
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost or Valuation
As at 14 July 2022 270,000 80,007 2,865 352,872
Additions - 4,012 - 4,012
Revaluation 120,000 - - 120,000
As at 13 July 2023 390,000 84,019 2,865 476,884
Depreciation
As at 14 July 2022 - 55,253 1,958 57,211
Provided during the period - 4,315 227 4,542
As at 13 July 2023 - 59,568 2,185 61,753
Net Book Value
As at 13 July 2023 390,000 24,451 680 415,131
As at 14 July 2022 270,000 24,754 907 295,661
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,200 1,200
6. Reserves
Revaluation Reserve
£
As at 14 July 2022 134,420
As at 13 July 2023 134,420
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