IRIS Accounts Production v24.2.0.383 01763734 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 manufacture and sale of cardboard packaging cases. true false true true false false true true false Ordinary 1.00000 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REGISTERED NUMBER: 01763734 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2023

for

W.E. Roberts Limited

W.E. Roberts Limited (Registered number: 01763734)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


W.E. Roberts Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S W T Roberts
P T Roberts
R J Puffette
Ms S T Roberts





SECRETARY: R J Puffette





REGISTERED OFFICE: Thames Works
Grove Road
Northfleet
Kent
DA11 9AX





REGISTERED NUMBER: 01763734 (England and Wales)





AUDITORS: Deeks Evans Audit Services Limited
Statutory Auditor
First Floor, West Barn
North Frith Farm, Ashes Lane, Hadlow
Tonbridge
Kent
TN11 9QU

W.E. Roberts Limited (Registered number: 01763734)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
Business Overview
W.E. Roberts Limited is primarily engaged in the manufacture of corrugated cardboard packaging.

Performance Review
W.E. Roberts Ltd has focused primarily on the growth strategy set for 2023, succeeding in achieving a 4.4% increase in output from 2022. The business has put in place a robust structure to support continued and controlled growth and has invested significantly in its people. This investment in people has been not only through increasing wages but also through the creation and launch of an Academy, to improve knowledge and skills for new and existing employees. This strategy to improve structure and improve the knowledge and skills of the workforce has put W.E. Roberts Limited in a strong position to grow and the business has started to see signs of continued growth into 2024.

Inflationary rises and the cost of living drove an increase in pay demand, combined with the strategy to invest in the workforce this resulted in a rise in wages across the business in 2023, however W.E. Roberts Ltd has focused heavily on efficiencies in process, people and machinery including investing in new materials handling equipment and integrating sophisticated automation and traceability software for the corrugator. This investment, increased efficiencies and alongside an increase in revenue, the business was able to realise an increase in profit in 2023.

W.E. Roberts Ltd will continue the sustainability goals started in 2023 into 2024, to reduce energy consumption, emissions and to invest in greener energy. This year, we have made significant strides, including the introduction of an electric forklift truck and an ongoing project into investing in solar energy will continue.

The business heads out of 2023 with strong foundations and a robust structure to enable growth and profitability in 2024.

Key Financial Highlights
- Profit/(loss) before tax for the year: £96,732 (2022: (£519,983)loss).
- Turnover:£24,147,293 an increase of 1.36% from 2022.

ON BEHALF OF THE BOARD:





R J Puffette - Director


26 September 2024

W.E. Roberts Limited (Registered number: 01763734)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2023 was £117,300.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

S W T Roberts
P T Roberts
R J Puffette
Ms S T Roberts

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Deeks Evans Audit Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R J Puffette - Director


26 September 2024

Report of the Independent Auditors to the Members of
W.E. Roberts Limited

Opinion
We have audited the financial statements of W.E. Roberts Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
W.E. Roberts Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience; through verbal and written communications with those charged with governance and other management: auditors and via inspection of the company's regulatory and legal correspondence.

We discussed with those charged with governance and other management the polices and procedures regarding
compliance with laws and regulations.

We communicated identified laws and regulations to the audit team and remained alert to any indicators of non-compliance throughout the audit, we also specifically considered where and how fraud may occur within the company.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the company is subject to laws and regulations that directly affect the financial statements, including: the company's constitution, relevant financial reporting standards; company law; tax legislation and distributable profits legislation and we assess the extent of compliance with these laws and regulation as part of our procedures on the related financial statement items.

Secondly the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance through the imposition of fines and penalties, or through losses arising from litigation. We identified the following areas as those most likely to have such an effect: employment legislation; health and safety legislation; trade legislation; data protection legislation; anti-bribery and corruption legislation.

Auditing Standards limit the required procedures to identify non-compliance with these laws and regulations to the procedures, and no procedures over and above those already noted are required. These limited procedures did not identify any actual or suspected non-compliance which laws and regulations that could have a material impact on the financial statements.

In relation to fraud, we performed the following specific procedures in addition to those already noted:

(a) identifying and testing journal entries, in particular those involving large or unusual account combinations

(b) obtaining third party confirmations of banking and finance arrangements and

(c) Ensuring that testing undertaken on transactions and the balance sheet includes a number of items selected on a random basis

These procedures did not identify any actual or suspected fraudulent irregularity that could have a material impact on the financial statements.

Report of the Independent Auditors to the Members of
W.E. Roberts Limited


Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and preformed our audit in accordance with Auditing Standards.For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the procedures that we are required to undertake would identify it. In addition, as with any audit, there remains a high risk of non-detection of irregularities, as these might involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal controls. We are not responsible for preventing non-compliance with laws and regulations or fraud, and cannot be expected to detect non-compliance with all laws and regulations or every incidence of fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Young (Senior Statutory Auditor)
for and on behalf of Deeks Evans Audit Services Limited
Statutory Auditor
First Floor, West Barn
North Frith Farm, Ashes Lane, Hadlow
Tonbridge
Kent
TN11 9QU

26 September 2024

W.E. Roberts Limited (Registered number: 01763734)

Statement of Comprehensive
Income
for the Year Ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 3 24,147,293 23,823,836

Cost of sales (16,686,237 ) (18,208,861 )
GROSS PROFIT 7,461,056 5,614,975

Distribution costs (1,288,174 ) (1,029,769 )
Administrative expenses (5,961,670 ) (5,328,345 )
211,212 (743,139 )

Other operating income 150,000 303,160
OPERATING PROFIT/(LOSS) 5 361,212 (439,979 )

Unsecured loan written off 6 - 54,965
361,212 (385,014 )

Interest receivable & similar income 5,839 252
367,051 (384,762 )

Interest payable and similar expenses 7 (270,319 ) (135,221 )
PROFIT/(LOSS) BEFORE TAXATION 96,732 (519,983 )

Tax on profit/(loss) 8 (26,900 ) -
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

69,832

(519,983

)

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

69,832

(519,983

)

W.E. Roberts Limited (Registered number: 01763734)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 7,114,977 7,065,711

CURRENT ASSETS
Stocks 11 1,334,392 1,493,078
Debtors 12 4,991,035 5,472,963
Cash at bank and in hand 42,134 121,747
6,367,561 7,087,788
CREDITORS
Amounts falling due within one year 13 5,879,386 7,217,679
NET CURRENT ASSETS/(LIABILITIES) 488,175 (129,891 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,603,152

6,935,820

CREDITORS
Amounts falling due after more than one
year

14

(3,644,887

)

(2,956,987

)

PROVISIONS FOR LIABILITIES 18 (439,100 ) (412,200 )
NET ASSETS 3,519,165 3,566,633

CAPITAL & RESERVES
Called up share capital 19 60 60
Revaluation reserve 114,319 133,369
Retained earnings 3,404,786 3,433,204
SHAREHOLDERS' FUNDS 3,519,165 3,566,633

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:




R J Puffette - Director



P T Roberts - Director


W.E. Roberts Limited (Registered number: 01763734)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2022 60 4,404,337 152,419 4,556,816

Changes in equity
Dividends - (470,200 ) - (470,200 )
Total comprehensive income - (500,933 ) (19,050 ) (519,983 )
Balance at 31 December 2022 60 3,433,204 133,369 3,566,633

Changes in equity
Dividends - (117,300 ) - (117,300 )
Total comprehensive income - 88,882 (19,050 ) 69,832
Balance at 31 December 2023 60 3,404,786 114,319 3,519,165

W.E. Roberts Limited (Registered number: 01763734)

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

1. STATUTORY INFORMATION

W.E. Roberts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared on a going concern basis and the directors have considered a period of at least twelve months from the date of signing of the balance sheet.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
Estimates and assumptions concerning the future and judgements are made by the management in the preparation of the financial statements. They affect the application of the Company's accounting policies, reported amounts of assets, liabilities, income and expenses and disclosures made. They are assessed on an going concern basis and are based on experience and relevant factors, including expectations of future events that are believed to be reasonable in the period of revision and future periods, in case the revision also effects future periods.

Turnover
Turnover is recognised when it is probable that the economic benefits will flow to the company and when the revenue and costs, if applicable, can be measured reliably and on the following basis:

Sales of products is recognised on transfer of risks and rewards of ownership, which generally coincides with the time when products are delivered to customers and the title passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Long leasehold - over the lease term
Plant & machinery - over 5 to 10 years
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Where freehold property has not been depreciated this is because the directors believe the current value to be reasonable.

Stocks
Stock of finished goods and work in progress have been valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes purchases, transport and handling costs in bringing stock to their present location and condition.


W.E. Roberts Limited (Registered number: 01763734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

W.E. Roberts Limited (Registered number: 01763734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. TURNOVER

The turnover and profit (2022 - loss) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 24,147,293 23,823,836
24,147,293 23,823,836

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 5,995,690 5,443,048
Social security costs 506,148 484,552
Other pension costs 88,920 83,696
6,590,758 6,011,296

The average number of employees during the year was as follows:
2023 2022

Office and management 56 52
Manufacturing 110 108
166 160

2023 2022
£    £   
Directors' remuneration 150,667 117,500

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

5. OPERATING PROFIT/(LOSS)

The operating profit (2022 - operating loss) is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 260,532 491,465
Depreciation - assets on hire purchase contracts 488,501 627,790
Loss/(profit) on disposal of fixed assets 8,263 (7,981 )
Auditors' remuneration 18,000 18,000
Auditors' remuneration for non audit work 24,750 22,500

6. EXCEPTIONAL ITEMS

In 2022 the unsecured loans written off represents a loan with a fellow group subsidiary, W.E. Roberts (Packing Supplies) Limited, written off as part of the general restructuring of the group trading activities.

W.E. Roberts Limited (Registered number: 01763734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest - 50
Bank loan interest 227,079 88,493
Other interest payable 913 -
Hire purchase interest 42,327 46,678
270,319 135,221

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Deferred tax 26,900 -
Tax on profit/(loss) 26,900 -

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit/(loss) before tax 96,732 (519,983 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25% (2022 - 19%)

24,183

(98,797

)

Effects of:
Expenses not deductible for tax purposes 3,375 (4,967 )
Superdeduction - capital allowances & Research & Development (658 ) (16,267 )
Effect of change of tax rate - 120,031
Total tax charge 26,900 -

9. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Dividends paid 117,300 470,200

W.E. Roberts Limited (Registered number: 01763734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. TANGIBLE FIXED ASSETS
Freehold Long Plant &
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 January 2023 4,367,560 753,282 8,974,528
Additions 101,472 6,015 689,044
Disposals - - (22,000 )
At 31 December 2023 4,469,032 759,297 9,641,572
DEPRECIATION
At 1 January 2023 64,545 397,692 6,883,106
Charge for year 16,169 57,289 502,032
Eliminated on disposal - - (21,999 )
At 31 December 2023 80,714 454,981 7,363,139
NET BOOK VALUE
At 31 December 2023 4,388,318 304,316 2,278,433
At 31 December 2022 4,303,015 355,590 2,091,422

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 1,065,603 222,597 15,383,570
Additions 36,000 11,244 843,775
Disposals (129,351 ) - (151,351 )
At 31 December 2023 972,252 233,841 16,075,994
DEPRECIATION
At 1 January 2023 756,280 216,236 8,317,859
Charge for year 164,371 9,172 749,033
Eliminated on disposal (83,876 ) - (105,875 )
At 31 December 2023 836,775 225,408 8,961,017
NET BOOK VALUE
At 31 December 2023 135,477 8,433 7,114,977
At 31 December 2022 309,323 6,361 7,065,711

Leasehold costs were valued on an open market basis on 26 November 2018 by a firm of surveyors.

W.E. Roberts Limited (Registered number: 01763734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant & Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 2,482,543 506,363 2,988,906
Additions 473,726 - 473,726
Disposals - (55,886 ) (55,886 )
Transfer to ownership (508,555 ) 42,995 (465,560 )
At 31 December 2023 2,447,714 493,472 2,941,186
DEPRECIATION
At 1 January 2023 1,223,162 414,197 1,637,359
Charge for year 379,664 108,837 488,501
Eliminated on disposal - (33,531 ) (33,531 )
Transfer to ownership (465,017 ) 8,599 (456,418 )
At 31 December 2023 1,137,809 498,102 1,635,911
NET BOOK VALUE
At 31 December 2023 1,309,905 (4,630 ) 1,305,275
At 31 December 2022 1,259,381 92,166 1,351,547

11. STOCKS
2023 2022
£    £   
Raw Materials & Consumables 960,152 1,102,102
Work-in-progress 374,240 390,976
1,334,392 1,493,078

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,131,335 4,627,822
Amounts owed by parent company 325,157 325,157
Other debtors 73,180 174,619
Directors' current accounts 138,318 -
Prepayments & accrued income 323,045 345,365
4,991,035 5,472,963

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans & overdrafts (see note 15) 223,980 147,581
Hire purchase contracts (see note 16) 449,303 626,025
Trade creditors 1,475,480 1,469,828
Corporation tax - 46,455
Social security & other taxes 534,099 497,300
Other creditors 3,057,253 3,826,728
Directors' current accounts 11,134 244,719
Accrued expenses 128,137 359,043
5,879,386 7,217,679

W.E. Roberts Limited (Registered number: 01763734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 15) 2,905,923 2,137,899
Hire purchase contracts (see note 16) 738,964 819,088
3,644,887 2,956,987

15. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 223,980 147,581

Amounts falling due between one and two years:
Bank loans - 1-2 years 245,980 151,605

Amounts falling due between two and five years:
Bank loans - 2-5 years 686,408 479,902

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,973,535 1,506,392

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Gross obligations repayable:
Within one year 491,919 665,726
Between one and five years 782,951 851,712
1,274,870 1,517,438

Finance charges repayable:
Within one year 42,616 39,701
Between one and five years 43,987 32,624
86,603 72,325

Net obligations repayable:
Within one year 449,303 626,025
Between one and five years 738,964 819,088
1,188,267 1,445,113

W.E. Roberts Limited (Registered number: 01763734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

16. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 273,731 314,404
Between one and five years 619,653 215,000
893,384 529,404

17. SECURED DEBTS

The following have a fixed and floating charge in the bank's standard form over the assets of the company:

Lloyds Commercial Finance Limited has a fixed and floating charge in the bank's standard form over the assets of the company dated 25 July 2011.

Lloyds Bank plc letter of set off dated 23 October 2020 to include W E Roberts (Holdings) Limited and W E Roberts (Packing Supplies) Limited

Trade creditors include amounts due in respect of stock purchases subject to reservation of title clauses. The total amount due is approximately £853,000.

18. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 439,100 412,200

Deferred
tax
£   
Balance at 1 January 2023 412,200
Accelerated capital allowances 26,900
Balance at 31 December 2023 439,100

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60 Ordinary £1 60 60

20. ULTIMATE PARENT COMPANY

The immediate and ultimate parent company is W.E.Roberts (Holdings) Limited, a company incorporated in England & Wales and which prepares group consolidated accounts which are filed at Companies House.

The ultimate parent company's registered office is Thames works, Grove Road, Northfleet, Kent. DA11 9AX.

W.E. Roberts Limited (Registered number: 01763734)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
S W T Roberts
Balance outstanding at start of year (75,425 ) (14,594 )
Amounts advanced 136,422 (60,831 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,997 (75,425 )

P T Roberts
Balance outstanding at start of year (93,072 ) (423,382 )
Amounts advanced 167,663 330,310
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 74,591 (93,072 )

R J Puffette
Balance outstanding at start of year (1,377 ) (21,183 )
Amounts advanced 4,107 19,806
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,730 (1,377 )

22. RELATED PARTY DISCLOSURES

During the year the company took over the operational activities of a fellow subsidiary, which was completed by the 31 December 2022.

Other related parties
2023 2022
£    £   
Rent paid (48,630 ) 128,040
Amount due to related party 8,958 8,958

The above transactions represents transactions with a pension scheme controlled by the shareholders as trustees.