REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2023 |
for |
Robin Brice Enterprises Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2023 |
for |
Robin Brice Enterprises Ltd |
Robin Brice Enterprises Ltd (Registered number: 08156495) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Robin Brice Enterprises Ltd |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
A Xeinadin Company |
Old Estate Office, Lodge Farm |
Gawdy Lane, Redenhall |
Harleston |
Norfolk |
IP20 9NY |
Robin Brice Enterprises Ltd (Registered number: 08156495) |
Balance Sheet |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Robin Brice Enterprises Ltd (Registered number: 08156495) |
Balance Sheet - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Robin Brice Enterprises Ltd (Registered number: 08156495) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Robin Brice Enterprises Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 31 July 2023 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 August 2021. |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
Tangible fixed assets |
Freehold property | - |
Fencing | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
The land element of freehold property is not depreciated where it is considered to be carried at or below its estimated residual value. |
The beef suckler herd is maintained such that its carrying value is at or below its estimated residual value. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Robin Brice Enterprises Ltd (Registered number: 08156495) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
2. | ACCOUNTING POLICIES - continued |
Investments in joint ventures |
Investments in joint ventures are measured at fair value with changes in fair value recognised in profit and loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 August 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Included in fixed assets are items which have been financed by Hire Purchase or Finance Lease. The net book value of these items at 31 July 2023 was £126,810 (2022: £8,804) and the amount charged in the accounts for depreciation was £1,312 (2022: £2,935). |
5. | FIXED ASSET INVESTMENTS |
Interest |
in joint |
venture |
£ |
COST OR VALUATION |
At 1 August 2022 |
Revaluations |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Robin Brice Enterprises Ltd (Registered number: 08156495) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
5. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 July 2023 is represented by: |
Interest |
in joint |
venture |
£ |
Valuation in 2021 | 116,560 |
Valuation in 2022 | (389,105 | ) |
Valuation in 2023 | 20,352 |
Cost | 350,045 |
97,852 |
If joint ventures had not been revalued they would have been included at the following historical cost: |
31.7.23 | 31.7.22 |
£ | £ |
Cost | 350,045 | 350,045 |
Aggregate provisions | (342,148 | ) | (317,148 | ) |
Joint ventures were valued on a net asset & earnings basis on 31 July 2023 by Passmore Weeks & Richardson . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade debtors |
Amounts owed by joint ventures |
Other debtors |
Other debtors include prepayments of £1,500 (2022: £7,793). |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts and finance leases |
Trade creditors |
Taxation and social security |
Other creditors |
Other creditors include accruals of £42,663 (2022: £37,109). |
Robin Brice Enterprises Ltd (Registered number: 08156495) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans |
Hire purchase contracts and finance leases |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans due in more than 5 |
years repayable by instalments | 84,249 | 78,516 |
Hire purchase | 15,592 | - |
99,841 | 78,516 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans |
Hire purchase contracts and finance leases | 100,034 | 3,403 |
The bank loan is secured by a charge on the freehold property. |
Hire purchase or finance leases are secured on the assets concerned. |
10. | RELATED PARTY DISCLOSURES |
During the year the company received monies by way of loans had no set repayment terms and interest was charged at commercial rates. The balance outstanding at the end of the year was £ |
During the year the company loaned money to joint ventures. There were no set repayment terms and interest was charged at commercial rates. The balance outstanding at the end of the year was £49,450 (2022: £96,087). |
11. | FIRST YEAR ADOPTION |
1.8.21 | 31.7.22 |
£ | £ |
Equity as reported under FRS 105 | 634,053 | 658,972 |
Investments | 116,560 | (272,545 | ) |
Provisions for liabilities | (19,163 | ) | (9,306 | ) |
Equity as restated under FRS 102 | 731,450 | 377,121 |