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Registered number: 08861687









GEORGE ROBOTICS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
GEORGE ROBOTICS LIMITED
REGISTERED NUMBER: 08861687

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

CURRENT ASSETS
  

Stocks
 4 
26,331
24,089

Debtors: amounts falling due within one year
 5 
944
13,332

Cash at bank and in hand
  
37,748
64,756

  
65,023
102,177

Creditors: amounts falling due within one year
 6 
(6,976)
(7,515)

NET CURRENT ASSETS
  
 
 
58,047
 
 
94,662

  

NET ASSETS
  
58,047
94,662


CAPITAL AND RESERVES
  

Called up share capital 
 7 
50
50

Profit and loss account
  
57,997
94,612

  
58,047
94,662


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



D P George
Director

Date: 27 August 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
GEORGE ROBOTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


GENERAL INFORMATION

George Robotics Limited is a private company limited by shares and incorporated in England and Wales. Its registered office address is Salisbury House, Station Road, Cambridge, CB1 2LA.  
 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax.  Turnover is recognised as the fair value of the consideration received or receivable and is recognised in the period in which the goods and services are supplied.

 
2.3

STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks, and includes all direct costs.

 
2.4

DEBTORS

Short term debtors are measured at transaction price, less any impairment.  

 
2.5

CASH AND 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.

 
2.6

CREDITORS

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

Page 2

 
GEORGE ROBOTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.8

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


4.


STOCKS

2023
2022
£
£

Materials and components
4,919
10,308

Goods held for resale
21,412
13,781

26,331
24,089


Page 3

 
GEORGE ROBOTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


DEBTORS

2023
2022
£
£

Trade debtors
231
11,758

Other debtors
713
1,574

944
13,332



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
-
20

Trade creditors
39
4,379

Other creditors
312
312

Accruals and deferred income
6,625
2,804

6,976
7,515



7.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



50 (2022 - 50) Ordinary shares of £1.00 each
50
50


 
Page 4

 
GEORGE ROBOTICS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GEORGE ROBOTICS LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of George Robotics Limited for the year ended 30 November 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of George Robotics Limited, as a body, in accordance with the terms of our engagement letter dated 16 July 2024Our work has been undertaken solely to prepare for your approval the financial statements of George Robotics Limited and state those matters that we have agreed to state to the Board of Directors of George Robotics Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than George Robotics Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that George Robotics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of George Robotics Limited. You consider that George Robotics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of George Robotics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Peters Elworthy & Moore
 
Chartered Accountants
  
Salisbury House
Station Road
Cambridge
CB1 2LA
30 August 2024
 Page 5