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REGISTRAR OF COMPANIES

Registration number: 06596922

F A Robinson Limited

Unaudited Financial Statements

3 April 2024

image-name

 

F A Robinson Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
F A Robinson Limited
for the Year Ended 3 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of F A Robinson Limited for the year ended 3 April 2024 as set out on pages 2 to 9 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 F A Robinson Limited, as a body, in accordance with the terms of our engagement letter dated 19 May 2023. Our work has been undertaken solely to prepare for your approval the accounts of F A Robinson Limited and state those matters that we have agreed to state to the Board of Directors of F A Robinson 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 F A Robinson Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that F A Robinson 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 F A Robinson Limited. You consider that F A Robinson 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 F A Robinson 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.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

19 September 2024

 

F A Robinson Limited

(Registration number: 06596922)
Balance Sheet as at 3 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

46,488

152,419

Current assets

 

Stocks

76,491

241,889

Debtors

6

3,702

72,720

Cash at bank and in hand

 

419,333

646,275

 

499,526

960,884

Creditors: Amounts falling due within one year

7

(235,722)

(323,810)

Net current assets

 

263,804

637,074

Total assets less current liabilities

 

310,292

789,493

Provisions for liabilities

(8,466)

(32,048)

Net assets

 

301,826

757,445

Capital and reserves

 

Allotted, called up and fully paid share capital

51

100

Capital redemption reserve

49

-

Profit and loss account

301,726

757,345

Total equity

 

301,826

757,445

 

F A Robinson Limited

(Registration number: 06596922)
Balance Sheet as at 3 April 2024 (continued)

For the financial year ending 3 April 2024 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.

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 19 September 2024 and signed on its behalf by:
 

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

F A Robinson

Director

 

F A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 3 April 2024

1

General information

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

The address of its registered office is:
Grange Farm
Aldford Road
Huntington
CHESTER
CH3 6EA

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.

Government grants

Government grants such as the basic payment scheme are included in the profit and loss account when all the necessary conditions for receipt have been met.

Basic payment scheme

The amount paid in connection with the purchase of the basic payment scheme entitlement was amortised over the useful economic life of that entitlement, and has now been fully amortised.

 

F A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 3 April 2024 (continued)

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

Land and buildings

20 years straight line

Plant and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Furniture, fittings and office equipment

3 years straight line

Included in land and buildings is short leasehold property which relates to tenants improvements on
land leased by the company from the directors. As the long term intention is for the farming operation
to continue, it is deemed a true and fair view to depreciate the assets at 20 years straight line basis
over their useful economic life.

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.

 

F A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 3 April 2024 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of goods 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

Trading stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. The cost of livestock represents the purchase cost plus any additional costs of rearing the animal. Net realisable value is based on selling price less anticipated selling costs. Crop stock is valued at fair value less any anticipated costs to sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

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.

 

F A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 3 April 2024 (continued)

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 (including directors) during the year, was 3 (2023 - 4).

4

Intangible assets

Basic payment scheme
 £

Total
£

Cost or valuation

At 4 April 2023

20,000

20,000

Disposals

(20,000)

(20,000)

At 3 April 2024

-

-

Amortisation

At 4 April 2023

20,000

20,000

Amortisation eliminated on disposals

(20,000)

(20,000)

At 3 April 2024

-

-

Carrying amount

At 3 April 2024

-

-

At 3 April 2023

-

-

 

F A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 3 April 2024 (continued)

5

Tangible assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 4 April 2023

58,513

438,098

23,038

1,655

521,304

Disposals

(58,513)

(367,602)

(6,247)

-

(432,362)

At 3 April 2024

-

70,496

16,791

1,655

88,942

Depreciation

At 4 April 2023

38,823

321,940

7,111

1,011

368,885

Charge for the year

-

6,068

3,936

347

10,351

Eliminated on disposal

(38,823)

(291,897)

(6,062)

-

(336,782)

At 3 April 2024

-

36,111

4,985

1,358

42,454

Carrying amount

At 3 April 2024

-

34,385

11,806

297

46,488

At 3 April 2023

19,690

116,158

15,927

644

152,419

6

Debtors

2024
£

2023
£

Trade debtors

-

61,073

Other debtors

3,702

11,647

3,702

72,720

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

165,968

215,488

Trade creditors

 

42,201

30,432

Taxation and social security

 

1,206

2,705

Corporation tax liability

 

2,625

48,252

Other creditors

 

23,722

26,933

 

235,722

323,810

 

F A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 3 April 2024 (continued)

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

165,968

215,488