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REGISTERED NUMBER: 02822364 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 29th February 2024

for

Roxton Bailey Robinson Limited

Roxton Bailey Robinson Limited (Registered number: 02822364)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Cash Flow Statement 10

Notes to the Cash Flow Statement 11

Notes to the Financial Statements 12


Roxton Bailey Robinson Limited

Company Information
for the Year Ended 29th February 2024







DIRECTORS: P R Clay
J W B Duncan
M R M Foster
H N Mountain
A H W V Murray
R I D Pilkington
G L Stephenson
C A L White
A C Bromfield





SECRETARY: H C Parker





REGISTERED OFFICE: 25 High Street
Hungerford
Berkshire
RG17 0NF





REGISTERED NUMBER: 02822364 (England and Wales)





INDEPENDENT AUDITORS: James Cowper Kreston Audit
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB

Roxton Bailey Robinson Limited (Registered number: 02822364)

Strategic Report
for the Year Ended 29th February 2024

The directors present their strategic report for the year ended 29th February 2024.

REVIEW OF BUSINESS
Roxton Bailey Robinson Limited (RBR) is a tour operator and sporting agent specialising in the provision of sporting holidays and events. The company is covered by an ATOL registration no. 10353
The results for the company show a profit before taxation of £26,590 (2023 - £326,276).

The company's registered office is at 25 High Street, Hungerford, RG17 0NF. The company is a private limited company and on the 9th March 2016 the company's shareholders exchanged their shares for shares in RBR Group Ltd under a share for share exchange arrangement. RBR Group (Reg. No: 0995225) is the ultimate parent and group accounts have been published.

Roxtons Bailey Robinson Limited is divided into two divisions Fishing and Shooting.

The fishing division has unrivalled knowledge of every top class fishing destination in the world. Its team have managed lodges, operated rivers and opened up new destinations. The team continually travel to destinations that we recommend and constantly strive to find new and exciting product that we can add to our portfolio so that we always know where the discerning rod should be fishing from one month to the next.

The shooting division provides extensive access to the world's best shoots. The team have hosted, run and managed shoots across the UK and know precisely what venue will suit each client. They know the best hotels and private houses to stay in and they can provide a host of other services to ensure that the clients' have a day to remember. For those wishing to travel overseas the division has exclusive access to estates in other countries such as Spain and Argentina.


Roxton Bailey Robinson Limited (Registered number: 02822364)

Strategic Report
for the Year Ended 29th February 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The business risks facing the company are as follows:

Safety
In both divisions intemperate weather makes it unsafe to shoot or fish and the event has to be delayed or cancelled.
The shooting division maintains an adverse weather cancellation refund policy that clients may elect to participate in. In such cases a full refund may be claimed by the client although there is a financial impact to the business.The business strives to ensure that safety is paramount and its works with its suppliers and overseas ground handlers to make it so.

Package Tour Operator Liability

Most of the company’s bookings are covered under the Package Travel and Linked Travel Arrangement Regulations 2018. In such cases our obligations to our customer start and finish at the departure point, most usually an airport. Any event, such as intemperate weather, industrial action or airline failure, political unrest or natural disasters impacts on our business. The Company, as the tour operator, is responsible for our bonded customers until they can be returned to their point of departure. The cost to the company was £nil (2023- £nil).

Foreign Exchange Risk

The company purchases much of its product in the foreign currencies listed in the table below. The high / low range has varied by as much as 11.74% over the course of the financial period. These sharp fluctuations can make product planning and pricing difficult although the company reviews its internal exchange rates on a weekly basis to ensure that it is both competitive in its pricing and is able to stand by the booking quotes that it has given. Once bookings are confirmed foreign exchange contracts are used to manage foreign exchange risk as soon as currency requirements are material enough to justify entering into such contracts.

Currency US Dollar Euro South African Rand

Spot rate at 29th February 2024 1.2650 1.1688 24.2724
Period High 1.1311 1.1758 24.5675
Period Low 1.1837 1.1216 21.7174
High - Low Range 0.1279 0.0542 2.8501
% of High / Low range against spot at 29th February
2024

10.11%

4.64%

11.74%

Legislation

The Company continually monitors risks that may impact their sporting businesses and works with its suppliers to improve stewardship, so that the sport can continue without legislative intervention.

ON BEHALF OF THE BOARD:





H C Parker - Secretary


18th July 2024

Roxton Bailey Robinson Limited (Registered number: 02822364)

Report of the Directors
for the Year Ended 29th February 2024

The directors present their report with the financial statements of the company for the year ended 29th February 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of sporting agency services.

DIVIDENDS
No dividends were distributed for the year ended 29th February 2024 (2023 - £nil).

DIRECTORS
The directors shown below have held office during the whole of the period from 1st March 2023 to the date of this report.

P R Clay
J W B Duncan
M R M Foster
H N Mountain
A H W V Murray
R I D Pilkington
G L Stephenson
C A L White
A C Bromfield

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, James Cowper Kreston Audit, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



H C Parker - Secretary


18th July 2024

Report of the Independent Auditors to the Members of
Roxton Bailey Robinson Limited

Opinion
We have audited the financial statements of Roxton Bailey Robinson Limited (the 'company') for the year ended 29th February 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 29th February 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Roxton Bailey Robinson Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.

The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Enquiry of management and those charged with governance to identify any material instances of noncompliance with laws and regulations;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Darren O’Connor BSc (Hons), FCCA, ACA (Senior Statutory Auditor)
for and on behalf of James Cowper Kreston Audit
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB

19th July 2024

Roxton Bailey Robinson Limited (Registered number: 02822364)

Statement of Comprehensive Income
for the Year Ended 29th February 2024

2024 2023
Notes £    £   

TURNOVER 5,610,787 5,735,586

Cost of sales 4,012,125 4,046,025
GROSS PROFIT 1,598,662 1,689,561

Administrative expenses 1,693,316 1,444,704
(94,654 ) 244,857

Other operating income 3 97,500 72,482
OPERATING PROFIT 5 2,846 317,339

Interest receivable and similar income 23,744 8,937
PROFIT BEFORE TAXATION 26,590 326,276

Tax on profit 6 2,435 (2,272 )
PROFIT FOR THE FINANCIAL YEAR 24,155 328,548

OTHER COMPREHENSIVE INCOME
Property revaluation (91,070 ) -
Income tax relating to other comprehensive income 14,481 -
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

(76,589

)

-
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

(52,434

)

328,548

Roxton Bailey Robinson Limited (Registered number: 02822364)

Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 714,028 808,999
Investments 8 60,100 60,100
774,128 869,099

CURRENT ASSETS
Stocks 9 17,145 23,968
Debtors: amounts falling due within one year 10 2,782,434 2,419,567
Debtors: amounts falling due after more than one
year

10

66,817

123,401
Cash in hand 901,367 1,480,241
3,767,763 4,047,177
CREDITORS
Amounts falling due within one year 11 3,514,020 3,758,042
NET CURRENT ASSETS 253,743 289,135
TOTAL ASSETS LESS CURRENT LIABILITIES 1,027,871 1,158,234

CREDITORS
Amounts falling due after more than one year 12 (18,083 ) (82,879 )

PROVISIONS FOR LIABILITIES 14 (13,406 ) (26,539 )
NET ASSETS 996,382 1,048,816

CAPITAL AND RESERVES
Called up share capital 15 30,000 30,000
Revaluation reserve 16 83,561 170,573
Retained earnings 16 882,821 848,243
SHAREHOLDERS' FUNDS 996,382 1,048,816

The financial statements were approved by the Board of Directors and authorised for issue on 18th July 2024 and were signed on its behalf by:





A H W V Murray - Director


Roxton Bailey Robinson Limited (Registered number: 02822364)

Statement of Changes in Equity
for the Year Ended 29th February 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1st March 2022 30,000 519,695 170,573 720,268

Changes in equity
Total comprehensive income - 328,548 - 328,548
Balance at 28th February 2023 30,000 848,243 170,573 1,048,816

Changes in equity
Total comprehensive income - 34,578 (87,012 ) (52,434 )
Balance at 29th February 2024 30,000 882,821 83,561 996,382

Roxton Bailey Robinson Limited (Registered number: 02822364)

Cash Flow Statement
for the Year Ended 29th February 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (603,218 ) (67,954 )
Tax paid 66 111,569
Net cash from operating activities (603,152 ) 43,615

Cash flows from investing activities
Purchase of tangible fixed assets (10,216 ) (8,326 )
Sale of tangible fixed assets 10,750 7,321
Interest received 23,744 8,937
Net cash from investing activities 24,278 7,932

(Decrease)/increase in cash and cash equivalents (578,874 ) 51,547
Cash and cash equivalents at beginning of year 2 1,480,241 1,428,694

Cash and cash equivalents at end of year 2 901,367 1,480,241

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Cash Flow Statement
for the Year Ended 29th February 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 26,590 326,276
Depreciation charges 14,117 33,046
Profit on disposal of fixed assets (10,750 ) (7,321 )
Finance income (23,744 ) (8,937 )
6,213 343,064
Decrease/(increase) in stocks 6,823 (7,426 )
Increase in trade and other debtors (306,283 ) (319,433 )
Decrease in trade and other creditors (309,971 ) (84,159 )
Cash generated from operations (603,218 ) (67,954 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29th February 2024
29/2/24 1/3/23
£    £   
Cash and cash equivalents 901,367 1,480,241
Year ended 28th February 2023
28/2/23 1/3/22
£    £   
Cash and cash equivalents 1,480,241 1,428,694


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/3/23 Cash flow At 29/2/24
£    £    £   
Net cash
Cash at bank and in hand 1,480,241 (578,874 ) 901,367
1,480,241 (578,874 ) 901,367
Total 1,480,241 (578,874 ) 901,367

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

Roxton Bailey Robinson Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.

Preparation of consolidated financial statements
The financial statements contain information about Roxton Bailey Robinson Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, RBR Group Limited, 25 High Street, Hungerford, Berkshire RG17 0NF.

Significant judgements and estimates
The preparation of the financial statements requires management to make estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following have had the most significant effect on amounts recognised in the financial statements:

a) Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values may vary depending on a number of factors.

b) Bad debt provisions
Provisions are estimated by the company in respect of specific debts based upon the age of the debt and knowledge of known issues.

c) Stock provisions
Provisions are estimated by the company in respect of specific stocks based upon the age of the stock and knowledge of known issues.

Revenue recognition
A significant amount of the Company's transactions relate to events, holidays or goods which are delivered at a future date. In such cases the revenue relating to such transactions is recorded in deferred income and associated expenses are recorded in deferred costs. Once the date the event or holiday has commenced, or the goods have been despatched the turnover and cost of sale is recognised by transferring the respective balances from deferred income and deferred costs..

When sales revenue is recognised but the costs relating to the sale have yet to be completed the full cost of sale is recorded with any outstanding amount accounted for within trading cost accruals in the balance sheet.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and value added taxes.

Interest income
Interest income is recognised using the effective interest rate method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land and Buildings
Freehold property comprises freehold land and is stated at cost plus revalued amounts less accumulated impairment losses. Freehold land is not depreciated.

Office equipment, off road vehicles and computer equipment
Fixtures and fittings, Off road vehicles and computer equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation and Residual Values
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The estimated useful lives range as follows:


Freehold buildings50 years
Improvements to property30 years
Fixtures and fittingsbetween 3 and 5 years
Off road vehicles3 years
Computer equipment between 3 and 5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Subsequent additions
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is disposed.

Repairs and maintenance are charged to administrative expenses in the period in which they are incurred.

Subsequent disposals
Assets which, in the opinion of the management, have come to the end of their useful lives are disposed of. Gains and losses on disposed assets are entered' in the income statement and shown in the operating profit/(loss) disclosure.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stock comprises ammunition and other associated accessories. Stock is stated at the lower of cost and estimated selling price. Stock is recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price including taxes and duties, transport and handling directly attributable to bringing the inventory to its present location and condition.

At the end of each reporting period stock is assessed for impairment. If an item of stock is found to be impaired, it is reduced to its selling price and an impairment charge is recognised as an additional cost of sale in the income statement.

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Foreign currencies
The Companies functional and presentational currency is GBP.

Transactions and balances
Transactions denominated in foreign currencies are recorded at the rate ruling on the transaction date
Monetary items denominated in foreign currencies are translated at the rate of exchange ruling at the period end date. Non-monetary items measured as historical cost are translated using the exchange rate at the date of the transaction and non-monetary items valued at fair value are measured using the exchange rate when the fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the period end revaluation of monetary items are recognised in administrative expenses in the statement of comprehensive income and disclosed within the operating profit note.

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Employee benefits
The company provides a range of benefits to employees, including a private healthcare scheme, paid holiday arrangements, a defined contribution pension plan and an annual bonus arrangement.

Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits are recognised as an expense in the period that the service is received.

Other monetary benefits
Other monetary benefits are recognised as an expense as they are due and healthcare benefits are recognised as an expense which is amortised over the term of the policy and any deferred expenditure is included in prepayments in the balance sheet.

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension under which the company pays a fixed contribution into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense as they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Bonus arrangements
The company operates a discretionary bonus arrangement for employees. An expense is recognised in the income statement when the management of the company approve the payments under the scheme.

3. OTHER OPERATING INCOME
2024 2023
£    £   
Rents received - 5,333
Management charges 97,500 67,149
97,500 72,482

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 907,694 950,806
Social security costs 101,088 106,524
Other pension costs 48,150 31,780
1,056,932 1,089,110

The average number of employees during the year was as follows:
2024 2023

Office and Management 19 20

2024 2023
£    £   
Directors' remuneration 328,378 350,152
Directors' pension contributions to money purchase schemes 26,769 9,809

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

4. EMPLOYEES AND DIRECTORS - continued

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 5 5

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 112,061 114,251
Pension contributions to money purchase schemes 8,471 3,589

The directors are the key management personnel.

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 14,117 33,044
Profit on disposal of fixed assets (10,750 ) (7,321 )
Auditors' remuneration 8,750 5,900
Foreign exchange differences 1,612 (8,302 )

6. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 1,087 -

Deferred tax 1,348 (2,272 )
Tax on profit 2,435 (2,272 )

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

6. TAXATION - continued

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 26,590 326,276
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 19%) 6,648 61,992

Effects of:
Expenses not deductible for tax purposes 3,159 1,702
Capital allowances in excess of depreciation (2,306 ) -
Depreciation in excess of capital allowances - 3,635
Loss surrendered to/(from) group (6,071 ) (67,329 )
Movement in deferred tax 1,348 (2,272 )
income
Impact of marginal relief and rate change (343 ) -
Total tax charge/(credit) 2,435 (2,272 )

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Property revaluation (91,070 ) 14,481 (76,589 )

2023
Gross Tax Net
£    £    £   
Property revaluation

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

7. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1st March 2023 836,363 82,637 52,464 246,546 1,218,010
Additions - 591 - 9,625 10,216
Disposals - (16,943 ) (16,425 ) (103,564 ) (136,932 )
Revaluations (91,070 ) - - - (91,070 )
At 29th February 2024 745,293 66,285 36,039 152,607 1,000,224
DEPRECIATION
At 1st March 2023 40,479 80,332 52,464 235,736 409,011
Charge for year 4,814 1,230 - 8,073 14,117
Eliminated on disposal - (16,943 ) (16,425 ) (103,564 ) (136,932 )
At 29th February 2024 45,293 64,619 36,039 140,245 286,196
NET BOOK VALUE
At 29th February 2024 700,000 1,666 - 12,362 714,028
At 28th February 2023 795,884 2,305 - 10,810 808,999

Included in cost or valuation of land and buildings is freehold land of £ 326,298 (2023 - £ 402,747 ) which is not depreciated.

Cost or valuation at 29th February 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2024 (91,070 ) - - - (91,070 )
Valuation in 2022 33,059 - - - 33,059
Valuation in 2017 64,041 - - - 64,041
Valuation in 2015 114,136 - - - 114,136
Cost 625,127 66,285 36,039 152,607 880,058
745,293 66,285 36,039 152,607 1,000,224

Freehold land and buildings were valued on an open market value basis on 29th February 2024 by Haslam's Surveyors LLP .

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

8. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st March 2023
and 29th February 2024 60,100
NET BOOK VALUE
At 29th February 2024 60,100
At 28th February 2023 60,100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Fly Fisher Group Limited
Registered office: United Kingdom
Nature of business: Dormant Company
%
Class of shares: holding
Ordinary Shares 100.00
2024 2023
£    £   
Aggregate capital and reserves 100 100

RBR Arden Shoot Limited
Registered office: United Kingdom
Nature of business: Shoot Operator
%
Class of shares: holding
Ordinary Shares 100.00
2024 2023
£    £   
Aggregate capital and reserves 32,161 (28,209 )
Profit for the year 60,370 14,881

RBR Badminton Shoot Limited
Registered office: United Kingdom
Nature of business: Shoot Operator
%
Class of shares: holding
Ordinary Shares 100.00
2024 2023
£    £   
Aggregate capital and reserves (166,016 ) (133,193 )
Loss for the year (32,823 ) (163,193 )

9. STOCKS
2024 2023
£    £   
Finished goods 17,145 23,968

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

10. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 880,796 871,583
Amounts owed by group undertakings 635,383 524,896
Other debtors 176,696 175,461
VAT 47,816 7,693
Deferred costs 1,026,969 823,328
Prepayments 14,774 16,606
2,782,434 2,419,567

Amounts falling due after more than one year:
Trade debtors 9,104 41,727
S455 tax paid 50,258 49,669
Deferred costs 7,455 32,005
66,817 123,401

Aggregate amounts 2,849,251 2,542,968

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 563,369 934,923
Amounts owed to group undertakings 15,058 152,827
Tax 1,675 521
Social security and other taxes 29,228 27,688
Accruals 197,061 206,071
Deferred income 2,224,347 2,018,272
Trading cost accruals 483,282 417,740
3,514,020 3,758,042

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Deferred income 18,083 82,879

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 10,727 6,928
Between one and five years 16,835 1,052
27,562 7,980

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances (5,424 ) (6,771 )
Revaluation of tangible assets 18,830 33,310
13,406 26,539

Deferred
tax
£   
Balance at 1st March 2023 26,539
Charge to Statement of Comprehensive Income during year 1,348
Tax impact of revaluation (14,481 )
Balance at 29th February 2024 13,406

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,000,000 Ordinary £0.01 30,000 30,000

16. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st March 2023 848,243 170,573 1,018,816
Profit for the year 24,155 24,155
Transfer to/(from) reserves 10,423 (10,423 ) -
Revaluation of tangible fixed
assets - (76,589 ) (76,589 )
At 29th February 2024 882,821 83,561 966,382

17. PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held from separately to those of the Company in an independently administered fund. The charge for the year was £48,150 (2023 - £31,780). There were no amounts outstanding at the year end.

18. ULTIMATE PARENT COMPANY

RBR Group Limited (incorporated in United Kingdom ) is regarded by the directors as being the company's ultimate parent company.

The parent undertaking and ultimate holding company is RBR Group Limited (registration number 09952535). Copies of the group consolidated accounts can be obtained from the Company Secretary at The Courtyard, 25 High Street, Hungerford, Berkshire RG17 0NF.

Roxton Bailey Robinson Limited (Registered number: 02822364)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

19. CONTINGENT LIABILITIES

The company holds an ATOL Licence (number 10353)

On the 3rd September 2013 at the request of ATOL, standard ATOL cross guarantees (CPG ATOL form 1301\2) were put in place between Roxton Bailey Robinson Ltd, its sister company Bailey Robinson Holdings Ltd and its subsidiaries Bailey Robinson Ltd and Real Holidays Travel Agency Ltd. This guarantee is the in the process of being extended to include its ultimate parent RBR Group Ltd, Ian Coley Sporting Limited and Fly Fisher Group Ltd.

20. OTHER FINANCIAL COMMITMENTS

As at the 29th February 2024, there were contractual commitments to purchase the sterling value of the following currencies:

20242023
£   £   

United States dollars79,08292,710
Canadian dollars-45,072

The impact of revaluing the above contracts as at 29th February 2024 to market rates generated a foreign exchange gain of £2,382 which has been provided in the accounts.

21. RELATED PARTY DISCLOSURES

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.