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Registration number: 00260364

Arthur Roberts & Sons Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Arthur Roberts & Sons Limited

Company Information

Directors

M T Roberts

K E Roberts

Company secretary

K E Roberts

Registered office

The Limes
Aynsleys Drive
Blythe Bridge
Stoke on Trent
Staffordshire
ST11 9HJ

 

Arthur Roberts & Sons Limited

(Registration number: 00260364)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,610

4,813

Investment property

5

550,000

550,000

 

553,610

554,813

Current assets

 

Stocks

6

7,494

123,326

Debtors

7

289,237

317,465

Cash at bank and in hand

 

263,665

143,372

 

560,396

584,163

Creditors: Amounts falling due within one year

8

(305,352)

(170,098)

Net current assets

 

255,044

414,065

Total assets less current liabilities

 

808,654

968,878

Creditors: Amounts falling due after more than one year

8

(34,147)

(177,896)

Provisions for liabilities

(678)

(979)

Net assets

 

773,829

790,003

Capital and reserves

 

Called up share capital

9

1,051

1,051

Capital redemption reserve

1,051

1,051

Non distributable reserve

160,627

160,627

Profit and loss account

611,100

627,274

Shareholders' funds

 

773,829

790,003

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

 

Arthur Roberts & Sons Limited

(Registration number: 00260364)
Balance Sheet as at 30 September 2023

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
M T Roberts
Director

 

Arthur Roberts & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Limes
Aynsleys Drive
Blythe Bridge
Stoke on Trent
Staffordshire
ST11 9HJ
England

These financial statements were authorised for issue by the Board on 25 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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.

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.

 

Arthur Roberts & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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% reducing balance

Plant and machinery

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

 

Arthur Roberts & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Arthur Roberts & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

2,329

7,500

9,829

At 30 September 2023

2,329

7,500

9,829

Depreciation

At 1 October 2022

2,087

2,929

5,016

Charge for the year

60

1,143

1,203

At 30 September 2023

2,147

4,072

6,219

Carrying amount

At 30 September 2023

182

3,428

3,610

At 30 September 2022

242

4,571

4,813

5

Investment properties

2023
£

At 1 October

550,000

At 30 September

550,000

Propery held at Sutherland Yard was valued in January 2020 by a company director in the amount of £30000.

Property held at High St, Stone and 79 Weston road were valued by Louis Taylor and independant valuer in January 2020 and totalled £520000.

6

Stocks

2023
£

2022
£

Work in progress

7,494

7,494

Gross amount due from customers for contract work

-

115,832

7,494

123,326

 

Arthur Roberts & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

5,516

11,377

Other debtors

283,721

306,088

 

289,237

317,465

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

4,500

13,684

Trade creditors

 

239,126

83,880

Taxation and social security

 

10,221

18,625

Accruals and deferred income

 

10,045

12,195

Other creditors

 

41,460

41,714

 

305,352

170,098

 

Arthur Roberts & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

34,147

177,896

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1,051

1,051

1,051

1,051

         
 

Arthur Roberts & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

34,147

177,896

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,500

13,684

Bank borrowings

Nat West Bank is denominated in £ with a nominal interest rate of 5%, and the final instalment is due on 30 September 2035. The carrying amount at year end is £38,647 (2022 - £191,580).

Nat West bank have a charge over 79 Weston Rd Stoke on trent and 46 High Street Stone in respect of this debt. Both of these properties are Investment Property assets within the company