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Registration number: 08799013

Albert Roger Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

image-name
 

Albert Roger Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Albert Roger Limited

Company Information

Director

Mr JA Roger Jara

Registered office

22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Accountants

Michael J Emery & Co Limited
Chartered Accountant
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Albert Roger Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Albert Roger Limited for the year ended 31 December 2023 as set out on pages 3 to 12 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Albert Roger Limited, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of Albert Roger Limited and state those matters that we have agreed to state to the Board of Directors of Albert Roger Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Albert Roger Limited and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Albert Roger 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 accounts.

......................................

Michael J Emery & Co Limited
Chartered Accountant
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

12 September 2024

 

Albert Roger Limited

(Registration number: 08799013)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

114,558

121,274

Tangible assets

4

1,274,352

992,525

Investments

5

1,321,103

1,321,103

 

2,710,013

2,434,902

Current assets

 

Stocks

6

1,152,046

1,128,744

Debtors

7

5,583,930

2,261,036

Cash at bank and in hand

 

482,992

534,784

 

7,218,968

3,924,564

Creditors: Amounts falling due within one year

8

(7,999,168)

(4,948,072)

Net current liabilities

 

(780,200)

(1,023,508)

Total assets less current liabilities

 

1,929,813

1,411,394

Creditors: Amounts falling due after more than one year

8

(169,179)

(176,389)

Provisions for liabilities

(228,208)

(122,550)

Net assets

 

1,532,426

1,112,455

Capital and reserves

 

Called up share capital

400,000

400,000

Retained earnings

1,132,426

712,455

Shareholders' funds

 

1,532,426

1,112,455

For the financial year ending 31 December 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.

 

Albert Roger Limited

(Registration number: 08799013)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 12 September 2024
 

.........................................
Mr JA Roger Jara
Director

 

Albert Roger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales, registration number 08799013.

The address of its registered office is:
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ
England

These financial statements were authorised for issue by the director on 12 September 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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Albert Roger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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

Office equipment

25% on cost

Furniture and fittings

10% on cost

Plant and machinery

17% on cost

Leasehold improvements

20% on cost

Motor vehicles

10% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible assets

10% on cost

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.

 

Albert Roger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Albert Roger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

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.

3

Staff numbers

The average number of persons employed by the company during the year, including the director, was 19 (2022 - 15).

 

Albert Roger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

15,303

2,084,118

-

2,099,421

Additions

-

469,738

143,179

612,917

At 31 December 2023

15,303

2,553,856

143,179

2,712,338

Depreciation

At 1 January 2023

10,967

1,086,982

-

1,097,949

Charge for the year

3,061

333,416

3,560

340,037

At 31 December 2023

14,028

1,420,398

3,560

1,437,986

Carrying amount

At 31 December 2023

1,275

1,133,458

139,619

1,274,352

At 31 December 2022

4,336

988,189

-

992,525

Included within the net book value of land and buildings above is £1,275 (2022 - £4,336) in respect of short leasehold land and buildings.
 

 

Albert Roger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

1,319,712

1,319,712

Investments in associates

1,391

1,391

1,321,103

1,321,103

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,319,712

Provision

Carrying amount

At 31 December 2023

1,319,712

At 31 December 2022

1,319,712

Associates

£

Cost

At 1 January 2023

1,391

Provision

Carrying amount

At 31 December 2023

1,391

At 31 December 2022

1,391

 

Albert Roger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Stocks

2023
£

2022
£

Inventory

1,152,046

1,128,744

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

5,406,958

1,742,018

Intercompany debtors

9

132,457

416,625

Prepayments

 

16,161

77,049

Other debtors

 

28,354

25,344

 

5,583,930

2,261,036

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

200,029

203,923

Trade creditors

 

4,127,962

3,121,930

Accruals

 

263,065

121,522

PAYE and NIC creditor

 

47,173

53,650

VAT Control account

 

312,047

702,657

Other creditors

 

10,049

42,935

Corporation tax control

 

398,021

180,372

Intercompany creditors

 

2,640,822

521,083

 

7,999,168

4,948,072

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

169,179

176,389

 

Albert Roger Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Related party transactions

Summary of transactions with other related parties

Albert Roger & Partner France Limited
This is a company under common control.
At the balance sheet date, there was an intercompany balance due from Albert Roger & Partner France Limited of £20,406 (2022: £Nil). During the year, sales were made to this company of £192,253 (2022: £143,706) meanwhile purchases were made of £43,981 (2022: £5,827).

 Logicos 3pl S.L.
This is a company under common control.
At the balance sheet date, there is an intercompany balance due to Logicos 3pl S.L. of £Nil (2022: £Nil). During the year, sales were made to this company of £Nil (2022: £487) meanwhile purchases were made of £169,578 (2022: £402,036).