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COMPANY REGISTRATION NUMBER: 06438184
Robert Day Associates Limited
Filleted Unaudited Financial Statements
For the Year Ended
30 November 2023
Robert Day Associates Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
5
4,158,738
4,144,450
Current Assets
Debtors
6
909,910
712,426
Cash at bank and in hand
17,197
719,391
----------
-------------
927,107
1,431,817
Creditors: amounts falling due within one year
7
958,618
1,489,335
----------
-------------
Net Current Liabilities
31,511
57,518
-------------
-------------
Total Assets Less Current Liabilities
4,127,227
4,086,932
Creditors: amounts falling due after more than one year
8
746,269
746,278
Provisions
Taxation including deferred tax
237,021
237,021
-------------
-------------
Net Assets
3,143,937
3,103,633
-------------
-------------
Robert Day Associates Limited
Statement of Financial Position (continued)
30 November 2023
2023
2022
Note
£
£
£
Capital and Reserves
Called up share capital
1
1
Fair value reserve
749,868
749,868
Profit and loss account
2,394,068
2,353,764
-------------
-------------
Shareholders Funds
3,143,937
3,103,633
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30th November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 August 2024 , and are signed on behalf of the board by:
Mrs K Day
Director
Company registration number: 06438184
Robert Day Associates Limited
Notes to the Financial Statements
Year Ended 30th November 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Middleborough House, 16 Middleborough, Colchester, Essex, CO1 1QT.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
The turnover shown in the profit and loss account represents rents invoiced during the year, feed in tariff and retainer fees.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
20% reducing balance
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible Assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1st December 2022
4,104,469
32,920
26,000
1,761
4,165,150
Additions
31,060
31,060
Disposals
( 26,000)
( 26,000)
-------------
---------
---------
-------
-------------
At 30th November 2023
4,135,529
32,920
1,761
4,170,210
-------------
---------
---------
-------
-------------
Depreciation
At 1st December 2022
4,217
15,032
1,451
20,700
Charge for the year
5,742
62
5,804
Disposals
( 15,032)
( 15,032)
-------------
---------
---------
-------
-------------
At 30th November 2023
9,959
1,513
11,472
-------------
---------
---------
-------
-------------
Carrying amount
At 30th November 2023
4,135,529
22,961
248
4,158,738
-------------
---------
---------
-------
-------------
At 30th November 2022
4,104,469
28,703
10,968
310
4,144,450
-------------
---------
---------
-------
-------------
6. Debtors
2023
2022
£
£
Trade debtors
354
Other debtors
909,556
712,426
----------
----------
909,910
712,426
----------
----------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,258
4,432
Social security and other taxes
338
Other creditors
954,360
1,484,565
----------
-------------
958,618
1,489,335
----------
-------------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
746,269
746,278
----------
----------
Included within creditors: amounts falling due after more than one year is an amount of £746,269 (2022: £746,278) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.