Company registration number 11487323 (England and Wales)
ROBERT MAE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ROBERT MAE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ROBERT MAE LIMITED (REGISTERED NUMBER: 11487323)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,154
Investment property
4
1,547,298
904,485
1,548,452
904,485
Current assets
Cash at bank and in hand
8,872
10,490
Creditors: amounts falling due within one year
5
(1,168,859)
(588,314)
Net current liabilities
(1,159,987)
(577,824)
Total assets less current liabilities
388,465
326,661
Creditors: amounts falling due after more than one year
6
(315,176)
(315,990)
Provisions for liabilities
(16,200)
(4,837)
Net assets
57,089
5,834
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
7
47,734
27,253
Distributable profit and loss reserves
9,255
(21,519)
Total equity
57,089
5,834
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ROBERT MAE LIMITED (REGISTERED NUMBER: 11487323)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 6 August 2024 and are signed on its behalf by:
Mr N Redding
Director
ROBERT MAE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Robert Mae Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, Kent, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rental and consultancy income. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Computers
Enter depreciation rate via StatDB - cd198
1.5
Investment property
Investment property, which is property held to earn rentals and for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ROBERT MAE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Computers
£
Cost
At 1 April 2023
Additions
1,539
At 31 March 2024
1,539
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
385
At 31 March 2024
385
Carrying amount
At 31 March 2024
1,154
At 31 March 2023
4
Investment property
2024
£
Fair value
At 1 April 2023
904,486
Additions
612,812
Revaluations
30,000
At 31 March 2024
1,547,298
Investment property comprises £1,547,298. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
ROBERT MAE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
739
1,219
Trade creditors
208,228
376,322
Taxation and social security
5,721
Other creditors
954,171
210,773
1,168,859
588,314
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
315,176
315,990
The loans are secured by way of negative pledge.
7
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
27,253
17,831
Non distributable profits in the year
20,481
9,422
At the end of the year
47,734
27,253