Registration number:
Prepared for the registrar
for the
Year Ended 31 October 2023
C F Roberts (Holdings) Limited
(Registration number: 03123699)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
- |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
|
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Net assets |
|
|
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Capital and reserves |
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Called up share capital |
1,353 |
1,353 |
|
Revaluation reserve |
134,244 |
50,237 |
|
Profit and loss account |
1,545,242 |
1,289,470 |
|
Shareholders' funds |
1,680,839 |
1,341,060 |
For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
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 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
C F Roberts (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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 for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Summary of disclosure exemptions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related
party transactions with wholly owned subsidiaries within the group.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover represents rental income from the Company's portfolio of investment properties, recharged
utility and related costs, arising from operating leases, excluding VAT. The Company recognises such
revenue on a straight line accruals basis.
Revenue from management charges to subsidiary undertakings is recognised on a straight-line
accruals basis and represent the recharge of costs incurred in respect of the transaction.
Tax
The tax expense for the period comprises current corporation tax and deferred tax. Tax is recognised in the profit and loss account, 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.
The current corporation 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.
C F Roberts (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Tangible assets
Tangible assets are stated in the statement of financial position 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 |
Investment properties |
Nil |
Plant and machinery |
25% straight line |
Motor vehicles |
25% reducing balance |
Investment property
At each reporting date, the company reviews the carrying amounts of its investment property to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects market assessments of the time value of money and the risks specific to the asset for which the estimate of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.
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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.
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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
C F Roberts (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Financial instruments
Classification
Recognition and measurement
Impairment
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Motor vehicles |
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Cost or valuation |
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At 1 November 2022 |
|
Disposals |
( |
At 31 October 2023 |
- |
Depreciation |
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At 1 November 2022 |
|
Eliminated on disposal |
( |
At 31 October 2023 |
- |
Carrying amount |
|
At 31 October 2023 |
- |
At 31 October 2022 |
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C F Roberts (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Investment properties |
£ |
|
At 1 November 2022 |
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Disposals |
( |
Fair value adjustments |
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At 31 October 2023 |
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The carrying amount at historic cost is £1,121,008 (2022: £1,420,771).
The director considers the current carrying value in the accounts to be a fair reflection of the market value of the properties at the balance sheet date.
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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England |
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England |
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England |
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England |
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The net asset value of Barrington Inns Limited at the end of their last financial period was £425,968.
The net asset value of Barrington Investments (UK) Limited at the end of their last financial period was -£256,311.
The net asset value of Barrington Inns & Taverns Limited at the end of their last financial period was £1.
The net asset value of Fryers Gate Freehold Management Limited at the end of their last financial period was £4,645.
C F Roberts (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Debtors |
Note |
2023 |
2022 |
|
Trade debtors |
|
|
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Amounts owed by related parties |
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|
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Other debtors |
- |
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Prepayments |
|
- |
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Creditors |
Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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- |
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Amounts due to related parties |
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Social security and other taxes |
|
- |
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Other creditors |
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Accrued expenses |
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Deferred income |
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- |
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C F Roberts (Holdings) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Related party transactions |
Transactions with the ultimate parent company
At 31 October 2023 the company was owed £2,593 (2022 - £nil) from Third Generation Investments Limited in the form of an intercompany loan. The loan is unsecured, interest-free and repayable on demand.
During the year the company paid management charges of £nil (2022 - £887,720) to Third Generation Investments Limited.
Transactions with the director
At 31 October 2023 the company was owed £7,459 (2022 - £nil) from the director in the form of a directors loan account. The loan is unsecured, interest-free and repayable on demand.
Transactions with other related parties
At 31 October 2023 the company owed £875,048 (2022 - £875,053) to CFR Group Services Limited in the form of an intercompany loan. The loan is unsecured, interest-free and repayable on demand. The companies are related by virtue of common control.
During the year the company received management charges of £nil (2022 - £110,000) from CFR Group Services Ltd.
At 31 October 2023 the company owed £110,245 (2022 - £110,245) to C.F. Roberts (Electrical Contractors) Limited in the form of an intercompany loan. The loan is unsecured, interest-free and repayable on demand. The companies are related by virtue of common control.
At 31 October 2023 the company owed £5,369 (2022 - £nil) to the RHL Pension fund of which P Roberts is a member. The loan is unsecured, interest-free and repayable on demand.
During the year, the company recharged expenses to the RHL Pension Fund of which P Roberts is a member totalling £nil (2022 - £21,868).
During the year the company received dividends of £838 (2022 - £nil) from Fryers Gate Freehold Property Management Ltd, a company in which C F Roberts (Holdings) Ltd has significant control.
During the year the company paid management charges of £47,999 (2022 - £185,326) to Paisy Services LLP, a partnership in which P Roberts is a member.
During the year, the company recharged expenses to Belgravia Events Limited totalling £nil (2022 - £42,248) and also received interest received totalling £nil (2022 - £18,750).
Parent and ultimate parent undertaking |
The company's immediate parent is MBR Holdings Ltd and the ultimate controlling party is Third Generation Investments Ltd, both are companies incorporated in England and Wales.