Registered number
08477189
Robsy5 Ltd
Filleted Accounts
31 December 2023
Robsy5 Ltd
Registered number: 08477189
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 74,419 80,621
Tangible assets 4 131,129 134,337
205,548 214,958
Current assets
Stocks 9,500 7,500
Debtors 5 18,143 12,500
Cash at bank and in hand (24,524) (22,032)
3,119 (2,032)
Creditors: amounts falling due within one year 6 (48,262) (44,647)
Net current liabilities (45,143) (46,679)
Total assets less current liabilities 160,405 168,279
Creditors: amounts falling due after more than one year 7 (163,884) (137,868)
Net (liabilities)/assets (3,479) 30,411
Capital and reserves
Called up share capital 4 4
Profit and loss account (3,483) 30,407
Shareholders' funds (3,479) 30,411
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Roberts
Director
Approved by the board on 15 August 2024
Robsy5 Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The accounts have been prepared on the going concern basis, on the understanding that the directors will continue to financially support the company during this uncertain period.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 25% reducing balance
Fixtures and fittings 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 124,032
At 31 December 2023 124,032
Amortisation
At 1 January 2023 43,411
Provided during the year 6,202
At 31 December 2023 49,613
Net book value
At 31 December 2023 74,419
At 31 December 2022 80,621
Goodwill is being written off, from the second year of trading, in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Office equipment Fixtures and fittings Total
£ £ £
Cost
At 1 January 2023 6,786 165,789 172,575
Additions 822 - 822
At 31 December 2023 7,608 165,789 173,397
Depreciation
At 1 January 2023 2,336 35,902 38,238
Charge for the year 134 3,896 4,030
At 31 December 2023 2,470 39,798 42,268
Net book value
At 31 December 2023 5,138 125,991 131,129
At 31 December 2022 4,450 129,887 134,337
5 Debtors 2023 2022
£ £
Other debtors 18,143 12,500
18,143 12,500
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,985 4,985
Trade creditors 24,720 23,892
Taxation and social security costs 14,016 11,795
Other creditors 4,541 3,975
48,262 44,647
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,313 36,796
Other creditors 131,571 101,072
163,884 137,868
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 41,781 41,781
9 Other information
Robsy5 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
C/o SRL Accountancy
The Old Rectory
Main Street, Glenfield
Leicester
LE3 8DG
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