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Registration number: 08568941

Robert Angell Design International Limited

trading as Robert Angell Design International

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Robert Angell Design International Limited
trading as Robert Angell Design International

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Robert Angell Design International Limited
trading as Robert Angell Design International

Company Information

Director

Mr R E W Angell

Registered office

21 Market Place
Blandford Forum
Dorset
DT11 7AF

Accountants

Harney & Co Limited
Chartered Certified Accountants
21 Market Place
Blandford Forum
Dorset
DT11 7AF

 

Robert Angell Design International Limited
trading as Robert Angell Design International

(Registration number: 08568941)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

28,168

16,665

Investments

5

74,190

49,460

 

102,358

66,125

Current assets

 

Stocks

6

311,766

132,959

Debtors

7

1,177,961

1,209,329

Cash at bank and in hand

 

470,844

257,549

 

1,960,571

1,599,837

Creditors: Amounts falling due within one year

8

(618,563)

(504,029)

Net current assets

 

1,342,008

1,095,808

Total assets less current liabilities

 

1,444,366

1,161,933

Provisions for liabilities

(6,482)

(2,991)

Net assets

 

1,437,884

1,158,942

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

1,437,784

1,158,842

Shareholders' funds

 

1,437,884

1,158,942

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 August 2024
 

 

Robert Angell Design International Limited
trading as Robert Angell Design International

(Registration number: 08568941)
Balance Sheet as at 30 November 2023 (continued)

.........................................
Mr R E W Angell
Director

 

Robert Angell Design International Limited
trading as Robert Angell Design International

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
21 Market Place
Blandford Forum
Dorset
DT11 7AF

These financial statements were authorised for issue by the director on 7 August 2024.

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.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Government grants

The grants received have been recognised under the accruals model.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

 

Robert Angell Design International Limited
trading as Robert Angell Design International

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Furniture and equipment

Reducing balance 20%

Motor vehicles

Reducing balance 25%

Computer equipment

Reducing balance 25%

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. 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.

 

Robert Angell Design International Limited
trading as Robert Angell Design International

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Work in progress

Work in progress is recognised at invoice value on work undertaken during the year, but invoiced after the year end.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company has basic financial instruments which are classified, measured and accounted for according to the substance of the contractual arrangement, as financial assets or financial liabilities. The company has not entered into any complex financial instruments.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2022: 11).

 

Robert Angell Design International Limited
trading as Robert Angell Design International

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Cost or valuation

At 1 December 2022

39,764

Additions

15,630

At 30 November 2023

55,394

Depreciation

At 1 December 2022

23,099

Charge for the year

4,127

At 30 November 2023

27,226

Carrying amount

At 30 November 2023

28,168

At 30 November 2022

16,665

5

Investments

2023
£

2022
£

Investments in subsidiaries

74,190

49,460

Subsidiaries

£

Cost or valuation

At 1 December 2022

49,460

Additions

24,730

At 30 November 2023

74,190

Carrying amount

At 30 November 2023

74,190

At 30 November 2022

49,460

 

Robert Angell Design International Limited
trading as Robert Angell Design International

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Investments (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Subsidiary Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Robert Angell Design Studio Limited

21 Market Place, Blandford Forum, Dorset, DT11 7AF

England

Ordinary

75%

50%

In addition Mr R E W Angell, sole director and shareholder of Robert Angell Design International Limited owns 12.5% (2022: 25%) of the Ordinary Share Capital of Robert Angell Design Studio Limited.

Subsidiary undertakings

Robert Angell Design Studio Limited

The principal activity of Robert Angell Design Studio Limited is non trading.

6

Work in progress

2023
£

2022
£

Work in progress

311,766

132,959

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

207,934

290,694

Amounts owed by related parties

12

732,632

682,002

Prepayments

 

17,540

15,085

Other debtors

 

219,855

221,548

   

1,177,961

1,209,329

 

Robert Angell Design International Limited
trading as Robert Angell Design International

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

44,211

6,675

Taxation and social security

282,273

84,376

Accruals and deferred income

226,332

16,763

Other creditors

12,431

12,430

Amounts due to related parties

53,316

383,785

618,563

504,029

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Dividends

2023

2022

£

£

Interim dividend of £2,000.00 (2022 - £2,500.00) per ordinary share

200,000

250,000

 

 

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £390,714 (2022 - £38,394). The commitments relate to a five year lease, commencing 6 August 2023, for rental and service charges on the property occupied by the company.

 

Robert Angell Design International Limited
trading as Robert Angell Design International

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

12

Related party transactions

Interest is charged at the official rate on the director's overdrawn balance as and when it arises during the year and is shown within the profit and loss account.

Transactions with the director

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

The following subsisted during the year

(193,951)

(198,284)

200,000

(192,235)

 

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

The following subsisted during the year

-

(486,044)

292,093

(193,951)

 

Summary of transactions with subsidiary

Robert Angell Design Studio Limited
(subsidiary from 13 July 2020, formerly a company under common control)

 At the year end the subsidiary was owed £53,316 (2022: £383,785).

The transactions that subsisted during the year relate to expenses incurred and paid on behalf of the parent company under normal business conditions.

 

Transactions with entities under common control

Robert Angell Residential Limited,
(a company under common control)

 At the year end Robert Angell Residential Limited owed the company £732,632 (2022: £682,002).

The transactions that subsisted during the year relate to expenses the company paid on behalf of Robert Angell Residential Limited under normal business conditions.