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REGISTERED NUMBER: 09952535 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 29th February 2024

for

RBR Group Limited

RBR Group Limited (Registered number: 09952535)






Contents of the Consolidated Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 6

Report of the Independent Auditors 8

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18


RBR Group Limited

Company Information
for the Year Ended 29th February 2024







DIRECTORS: I J Coley MBE
P R Clay
J W B Duncan
M R M Foster
D J Marshall
H N Mountain
A H W V Murray
R I D Pilkington
G L Stephenson
C A L White
A C Bromfield





SECRETARY: H C Parker





REGISTERED OFFICE: 25 High Street
Hungerford
Berkshire
RG17 0NF





REGISTERED NUMBER: 09952535 (England and Wales)





AUDITORS: James Cowper Kreston Audit
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB

RBR Group Limited (Registered number: 09952535)

Group Strategic Report
for the Year Ended 29th February 2024

The directors present their strategic report of the company and the group for the year ended 29th February 2024.

RBR Group Ltd is a trading group with companies that, over their 25 years of history, provide the very best leisure opportunities to its worldwide database of customers, from tailor-made holidays to outstanding field sports experiences around the globe. See www.rbrgroup.com.

The results for the Group show a consolidated profit before taxation of £178,137 (2023 - profit £207,126.) The statement of comprehensive income for the year is set out on the following pages.

The company's registered office is at 25 High Street, Hungerford, RG17 0NF.

RBR Group Limited was incorporated in January 2016 and comprises 6 trading entities (2023 - 6 trading entities) and a dormant holding company brought together by a series of share for share exchanges and by acquisition.

Roxton Bailey Robinson Limited (a sporting agency and tour operator based in Hungerford) and its dormant subsidiary Fly Fisher Group Limited (a sporting tour operator acquired in 2015) were acquired by the Group by a share for share exchange in March 2016. In December 2017 Roxton Bailey Robinson Limited incorporated an additional wholly owned subsidiary RBR Arden Limited in order to lease and operate a shoot in Yorkshire. In December 2021 another subsidiary RBR Badminton Shoot Limited was incorporated and it leases and operates a shoot in Gloucestershire.

Bailey Robinson Holdings Limited (a dormant holding company) comprising Bailey Robinson Limited (a luxury travel tour operator based in Hungerford) and Real Holidays Travel Agency Limited (a luxury travel agency and tour operator based in London) was acquired by the Group by a share for share exchange in May 2016.

Ian Coley Sporting Limited ICS Ltd (a sporting agency, sporting retailer, register firearms dealer and shooting school based near Cheltenham) was acquired by the Group in August 2016.

The bases on which these entities have been consolidated is detailed in the accounting policies section of the financial statements.


RBR Group Limited (Registered number: 09952535)

Group Strategic Report
for the Year Ended 29th February 2024

REVIEW OF BUSINESS
Roxtons Bailey Robinson Limited is divided into two divisions Fishing and Shooting.

The fishing division has unrivalled knowledge of every top class fishing destination in the world. Its team have managed lodges, operated rivers and opened up new destinations. The team continually travel to destinations that we recommend and constantly strive to find new and exciting product that we can add to our portfolio so that we always know where the discerning rod should be fishing from one month to the next. The Russian programme remains closed however a full programme was possible in Argentina, Iceland and some saltwater fishing destinations.

The shooting division provides extensive access to the world's best shoots. The team have hosted, run and managed shoots across the UK and know precisely what venue will suit each client. They know the best hotels and private houses to stay in and they can provide a host of other services to ensure that the clients' have a day to remember. For those wishing to travel overseas the division has exclusive access to estates in other countries such as Spain and Argentina. The division was able to fulfil most of its bookings throughout the season however international incoming travellers stayed away rather than risk losing a booking due to ever changing incoming or outgoing quarantine rules.

Bailey Robinson Limited is a luxury travel company that aspires to evoke the golden age of travel when people were treated as individuals and the world was waiting to be discovered.

Real Holidays Travel Agency Limited was founded in Islington, North London in 1989 to create personalised experiences to all corners of the globe and is built on a foundation of long-standing relationships with both customers and local contacts around the world.

Ian Coley Sporting Limited had early beginnings as a sporting retailer on Cheltenham High Street before moving to its current location West of Andoversford in Gloucestershire. Six-time Olympic coach, Ian is widely regarded as one of the world's top shots and the purpose built clay ground that he built is among the finest clay shooting establishments in the UK. With 24 stands set within mature woodland, it is ideal for individual practice or expert and friendly tuition ensuring the variety of shooting is perfect for beginners, aspiring Olympians or a corporate day out. The sporting agency provides bespoke shooting opportunities on some of the UK's most famous estates as well as further afield in Spain and Argentina. The re-development of the shooting school was completed in May 2023. The additional space houses an entertainment suite, a café and an extended retail section. The enlarged gun room displays one of the largest selections of quality new and second-hand guns in the UK with up to 1,000 guns on display at any one time. A key feature of the gun shop is the ability for customers to try out and have a gun fitted before they buy. The gun room sold 711 guns during the year (2023 - 779 guns, 2022 - 827 guns). The additional retail space in the gun room helped improve the sale of clothes and accessories which now make a material contribution to gun room revenue. The website "Ian Coley Country" launched in April 2022 continues to grow and now accounts for 18% of the accessories and 29% of the clothing total sales.


RBR Group Limited (Registered number: 09952535)

Group Strategic Report
for the Year Ended 29th February 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The business risks facing the Group are as follows:

Ukraine

The conflict in Ukraine has is having a significant effect on our key salmon fishing programme in the Kola peninsular. It has been cancelled since 2020 due to the COVID pandemic and latterly the Russian conflict. The directors believe that the political and economic stand-off caused by the Ukraine crisis will have a long term impact on its ability to re-start the fishing programme.

Safety

In some Companies within the Group intemperate weather makes it unsafe for an event or holiday to proceed and it may have to be delayed or cancelled. The Group strives to ensure that safety it paramount and works with its suppliers and ground handlers to make it so.

Foreign Exchange Risk

The company purchases much of its product in the foreign currencies listed in the table below. The high / low range has varied by as much as 11.74% over the course of the financial period. These sharp fluctuations can make product planning and pricing difficult although the company reviews its internal exchange rates on a weekly basis to ensure that it is both competitive in its pricing and is able to stand by the booking quotes that it has given. Once bookings are confirmed foreign exchange contracts are used to manage foreign exchange risk as soon as currency requirements are material enough to justify entering into such contracts.

Currency US Dollar Euro South African Rand

Spot rate at 29th February 2024 1.2650 1.1688 24.2724
Period High 1.1311 1.1758 24.5675
Period Low 1.1837 1.1216 21.7174
High - Low Range 0.1279 0.0542 2.8501
% of High / Low range against spot at 29th February
2024

10.11%

4.64%

11.74%



Political Risk & Legislation

Some of the entities within the Group would be impacted by a change that would control the use of lead shot. In such cases alternatives would have to be used which in turn would restrict the type of guns through which they could be fired and would require the Group to make a detailed re-appraisal of its firearms stock valuation. Following the announcement in February 2020, that the industry should phase out lead loads for game and single use plastic over the next 5 years, the directors believe that there will be no material impact on its firearms stock value.

A change in administration and the shifting of public opinion may lead to stricter regulations or licensing requirements.

The Group continually monitors risks that may impact their sporting businesses and works with its suppliers to improve stewardship and land management practices; promote the socio-economic impacts, so that the sport can continue without legislative intervention.


RBR Group Limited (Registered number: 09952535)

Group Strategic Report
for the Year Ended 29th February 2024

BUSINESS ENVIRONMENT
The significant change in the GBP exchange rate has inevitably made many of the Group's products and services more expensive for our UK customers. This has been mitigated by our overseas customers and to a certain extent by the passion of our customers for field sports or the mere desire not to compromise on the quality over price of an overseas destination. Nonetheless the Group continues to rely on a growing global economy and stable local economic environment to ensure that its customers continue to invest in its products and services.

ON BEHALF OF THE BOARD:





H C Parker - Secretary


18th July 2024

RBR Group Limited (Registered number: 09952535)

Report of the Directors
for the Year Ended 29th February 2024

The directors present their report with the financial statements of the company and the group for the year ended 29th February 2024.

DIVIDENDS
An interim dividend of £nil pence per share (2023 - £nil) was paid on the A Ordinary shares.

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

I J Coley MBE
P R Clay
J W B Duncan
M R M Foster
D J Marshall
H N Mountain
A H W V Murray
R I D Pilkington
G L Stephenson
C A L White
A C Bromfield

Other changes in directors holding office are as follows:

H Y Scott-Barrett - resigned 28th February 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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). 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

RBR Group Limited (Registered number: 09952535)

Report of the Directors
for the Year Ended 29th February 2024


AUDITORS
The auditors, James Cowper Kreston Audit, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



H C Parker - Secretary


18th July 2024

Report of the Independent Auditors to the Members of
RBR Group Limited

Opinion
We have audited the financial statements of RBR Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 29th February 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 29th February 2024 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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
RBR Group Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, 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 group's and the parent 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 group or the parent 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:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.

The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Enquiry of management and those charged with governance to identify any material instances of noncompliance with laws and regulations;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.

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.




Darren O’Connor BSc (Hons), FCCA, ACA (Senior Statutory Auditor)
for and on behalf of James Cowper Kreston Audit
2 Communications Road
Greenham Business Park
Greenham
Newbury
Berkshire
RG19 6AB

1st August 2024

RBR Group Limited (Registered number: 09952535)

Consolidated Income Statement
for the Year Ended 29th February 2024

2024 2023
Notes £    £   

TURNOVER 22,643,153 22,838,474

Cost of sales 17,257,281 17,918,403
GROSS PROFIT 5,385,872 4,920,071

Administrative expenses 5,076,014 4,567,681
309,858 352,390

Other operating income 3 - 5,333
OPERATING PROFIT 5 309,858 357,723

Interest receivable and similar income 55,074 22,257
364,932 379,980

Interest payable and similar expenses 6 186,795 172,854
PROFIT BEFORE TAXATION 178,137 207,126

Tax on profit 7 49,701 8,234
PROFIT FOR THE FINANCIAL YEAR 128,436 198,892
Profit attributable to:
Owners of the parent 128,436 198,892

RBR Group Limited (Registered number: 09952535)

Consolidated Other Comprehensive Income
for the Year Ended 29th February 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 128,436 198,892


OTHER COMPREHENSIVE INCOME
Revaluation of tangible fixed assets (576,065 ) -
Income tax relating to other comprehensive income 93,756 -
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

(482,309

)

-
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

(353,873

)

198,892

Total comprehensive income attributable to:
Owners of the parent (353,873 ) 198,892

RBR Group Limited (Registered number: 09952535)

Consolidated Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 726,072 1,043,430
Tangible assets 10 3,794,199 2,842,163
Investments 11 - -
4,520,271 3,885,593

CURRENT ASSETS
Stocks 12 2,263,936 2,372,866
Debtors: amounts falling due within one year 13 6,433,201 6,341,463
Debtors: amounts falling due after more than one
year

13

157,947

170,267
Cash in hand 3,342,895 5,144,408
12,197,979 14,029,004
CREDITORS
Amounts falling due within one year 14 9,573,480 9,782,731
NET CURRENT ASSETS 2,624,499 4,246,273
TOTAL ASSETS LESS CURRENT LIABILITIES 7,144,770 8,131,866

CREDITORS
Amounts falling due after more than one year 15 (2,076,912 ) (2,629,199 )

PROVISIONS FOR LIABILITIES 18 (67,503 ) (148,439 )
NET ASSETS 5,000,355 5,354,228

CAPITAL AND RESERVES
Called up share capital 19 112,776 112,776
Share premium 20 3,229,694 3,229,694
Revaluation reserve 20 83,561 554,415
Merger reserve 20 836,560 836,560
Retained earnings 20 737,764 620,783
SHAREHOLDERS' FUNDS 5,000,355 5,354,228

The financial statements were approved by the Board of Directors and authorised for issue on 18th July 2024 and were signed on its behalf by:





A H W V Murray - Director


RBR Group Limited (Registered number: 09952535)

Company Balance Sheet
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 33,585 24,122
Investments 11 4,797,868 4,797,868
4,831,453 4,821,990

CURRENT ASSETS
Debtors: amounts falling due within one year 13 1,376,639 911,340
Cash in hand 190,475 1,610,346
1,567,114 2,521,686
CREDITORS
Amounts falling due within one year 14 536,406 969,438
NET CURRENT ASSETS 1,030,708 1,552,248
TOTAL ASSETS LESS CURRENT LIABILITIES 5,862,161 6,374,238

CREDITORS
Amounts falling due after more than one year 15 (1,963,504 ) (2,486,125 )

PROVISIONS FOR LIABILITIES 18 (7,269 ) (3,539 )
NET ASSETS 3,891,388 3,884,574

CAPITAL AND RESERVES
Called up share capital 19 112,776 112,776
Share premium 20 3,229,694 3,229,694
Retained earnings 20 548,918 542,104
SHAREHOLDERS' FUNDS 3,891,388 3,884,574

Company's profit/(loss) for the financial year 6,814 (154,878 )

The financial statements were approved by the Board of Directors and authorised for issue on 18th July 2024 and were signed on its behalf by:





A H W V Murray - Director


RBR Group Limited (Registered number: 09952535)

Consolidated Statement of Changes in Equity
for the Year Ended 29th February 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1st March 2022 112,776 421,891 3,229,694

Changes in equity
Total comprehensive income - 198,892 -
Balance at 28th February 2023 112,776 620,783 3,229,694

Changes in equity
Total comprehensive income - 116,981 -
Balance at 29th February 2024 112,776 737,764 3,229,694
Revaluation Merger Total
reserve reserve equity
£    £    £   
Balance at 1st March 2022 554,415 836,560 5,155,336

Changes in equity
Total comprehensive income - - 198,892
Balance at 28th February 2023 554,415 836,560 5,354,228

Changes in equity
Total comprehensive income (470,854 ) - (353,873 )
Balance at 29th February 2024 83,561 836,560 5,000,355

RBR Group Limited (Registered number: 09952535)

Company Statement of Changes in Equity
for the Year Ended 29th February 2024

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1st March 2022 112,776 696,982 3,229,694 4,039,452

Changes in equity
Total comprehensive income - (154,878 ) - (154,878 )
Balance at 28th February 2023 112,776 542,104 3,229,694 3,884,574

Changes in equity
Total comprehensive income - 6,814 - 6,814
Balance at 29th February 2024 112,776 548,918 3,229,694 3,891,388

RBR Group Limited (Registered number: 09952535)

Consolidated Cash Flow Statement
for the Year Ended 29th February 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 998,273 (596,818 )
Interest paid (186,795 ) (172,854 )
Tax (paid) / received 7,775 160,856
Net cash from operating activities 819,253 (608,816 )

Cash flows from investing activities
Purchase of tangible fixed assets (1,777,517 ) (594,026 )
Sale of tangible fixed assets 47,694 36,754
Interest received 55,074 22,257
Net cash from investing activities (1,674,749 ) (535,015 )

Cash flows from financing activities
New loans in year 1,650,000 -
Loan repayments in year (196,386 ) (127,636 )
Loan repayment in year CBIL (2,333,333 ) (1,050,001 )
Redemption of preference shares (66,298 ) -
Net cash from financing activities (946,017 ) (1,177,637 )

Decrease in cash and cash equivalents (1,801,513 ) (2,321,468 )
Cash and cash equivalents at beginning of year 2 5,144,408 7,465,876

Cash and cash equivalents at end of year 2 3,342,895 5,144,408

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 29th February 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 178,137 207,126
Depreciation charges 552,444 572,950
Profit on disposal of fixed assets (33,364 ) (25,771 )
Finance costs 186,795 172,854
Finance income (55,074 ) (22,257 )
828,938 904,902
Decrease/(increase) in stocks 108,930 (216,556 )
Increase in trade and other debtors (93,020 ) (395,723 )
Increase/(decrease) in trade and other creditors 153,425 (889,441 )
Cash generated from operations 998,273 (596,818 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 29th February 2024
29/2/24 1/3/23
£    £   
Cash and cash equivalents 3,342,895 5,144,408
Year ended 28th February 2023
28/2/23 1/3/22
£    £   
Cash and cash equivalents 5,144,408 7,465,876


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/3/23 Cash flow At 29/2/24
£    £    £   
Net cash
Cash at bank and in hand 5,144,408 (1,801,513 ) 3,342,895
5,144,408 (1,801,513 ) 3,342,895
Debt
Debts falling due within 1 year (893,934 ) 423,396 (470,538 )
Debts falling due after 1 year (2,486,125 ) 522,621 (1,963,504 )
(3,380,059 ) 946,017 (2,434,042 )
Total 1,764,349 (855,496 ) 908,853

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

RBR Group 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 General Information page.

2. ACCOUNTING POLICIES

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

Basis of consolidation and business combinations
The RBR Group consolidated financial statements include the financial statements of the RBR Group Limited and all its subsidiary undertakings. The existing entities within the Group trade coterminously to the end of February each year. The following bases have been used to consolidate them.

Roxton Bailey Robinson Limited - has been consolidated using the merger accounting principles.

Bailey Robinson Limited - has been consolidated using the merger accounting principles.

Real Holidays Travel Agency Limited - has been consolidated using the merger accounting principles taking into account its pre-acquisition reserves when it was acquired in 2011.

Ian Coley Sporting Limited - has been consolidated using the acquisition accounting principles.

RBR Arden Limited - has been consolidated using the merger accounting principles.

RBR Badminton Limited - has been consolidated using the merger accounting principles.

A subsidiary is an entity controlled by the Group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where a subsidiary has different accounting policies to the Group, adjustments are made to those subsidiary financial statements to apply to the Group's accounting policies when preparing the consolidated financial statements

All intra-Group transactions, balances, income and expenses are eliminated on consolidation.

Business combinations
The bases of business combinations has been detailed above.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination.

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The preparation of the financial statements requires management to make estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following have had the most significant effect on amounts recognised in the financial statements:

a) Goodwill
Goodwill is amortised over its useful life of not more than 10 years. Goodwill is assessed for impairment when there are indicators that the underlying acquisition is not performing as it was originally planned

b) Investments
Investments are stated at consideration paid plus directly attributable cost of acquisition. The performance of investments is reviewed and if there is evidence that their value is impaired adjustments are charged to the income statement.

c) Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values may vary depending on a number of factors.

d) Bad debt provisions
Provisions are estimated by the company in respect of specific debts based upon the age of the debt and knowledge of known issues.

e) Stock provisions
Provisions are estimated by the company in respect of specific stocks based upon the age of the stock and knowledge of known issues.

Revenue recognition
Turnover
Revenue is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

A significant amount of the Group's transactions relate to events, holidays or goods which are delivered at a future date. In such cases the revenue relating to such transactions is recorded in deferred income and associated expenses are recorded in deferred costs. Once the date the event or holiday has commenced, or the goods have been despatched the turnover and cost of sale is recognised by transferring the respective balances from deferred income and deferred costs.

When sales revenue is recognised but the costs relating to the sale have yet to be completed the full cost of sale is recorded with any outstanding amount accounted for within trading cost accruals in the balance sheet.

Interest Income
Interest income is recognised using the effective interest rate method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Goodwill
Goodwill recognised represents the excess of fair value and directly attributable costs of the purchase consideration the fair values to the Group's interests in the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill is amortised over its expected useful life. Where the Group is unable to make a reliable estimate of useful life, goodwill is amortised over a period not exceeding 10 years. Goodwill is assessed for impairment when there there are indicators of impairment and any impairment is charged to the income statement. Reversals of impairment are recognised where the reasons for the impairment no longer apply.

The Group's goodwill is currently amortised at between 8 and 10 years.

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land and Buildings
Freehold property comprises freehold land and is stated at cost plus revalued amounts less accumulated impairment losses. Freehold land is not depreciated.

Improvements to property
Improvements to property comprises improvements to the freehold land and buildings and is stated at cost plus revalued amounts less accumulated impairment losses.

Office equipment, motor vehicles and computer equipment
Fixtures and fittings, motor vehicles and Computer equipment and are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation and residual values
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The estimated useful lives range as follows:


Freehold land nil
Freehold buildingsbetween 30 and 100 years
Improvements to propertybetween 8 and 30 years
Fixtures and fittingsbetween 5 and 15 years
Motor vehiclesbetween 3 and 5 years
Computer equipment between 3 and 5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Subsequent additions
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is disposed.

Repairs and maintenance are charged to administrative expenses in the period in which they are incurred.

Subsequent disposals
Assets which, in the opinion of the management, have come to the end of their useful lives are disposed of. Gains and losses on disposed assets are entered' in the income statement and shown in the operating profit/(loss) disclosure.

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stock comprises firearms, ammunition and other associated accessories. Stock is stated at the lower of cost and estimated selling price. Stock is recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price including taxes and duties, transport and handling directly attributable to bringing the inventory to its present location and condition.

At the end of each reporting period stock is assessed for impairment. If an item of stock is found to be impaired, it is reduced to its selling price and an impairment charge is recognised as an additional cost of sale in the income statement.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 period 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.

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
The Group's functional and presentational currency is GBP.

Transactions and balances
Transactions denominated in foreign currencies are recorded at the rate ruling on the transaction date
Monetary items denominated in foreign currencies are translated at the rate of exchange ruling at the period end date. Non-monetary items measured as historical cost are translated using the exchange rate at the date of the transaction and non-monetary items valued at fair value are measured using the exchange rate when the fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the period end revaluation of monetary items are recognised in administrative expenses in the statement of comprehensive income and disclosed within the operating profit note.

Hire purchase and leasing commitments
Operating leased assets
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to administrative expenses in the income statement.

Employee benefits
The company provides a range of benefits to employees, including a private healthcare scheme, paid holiday arrangements, a defined contribution pension plan and an annual bonus arrangement.

a) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits are recognised as an expense in the period that the service is received.

b) Other monetary benefits
Other monetary benefits are recognised as an expense as they are due and healthcare benefits are recognised as an expense which is amortised over the term of the policy and any deferred expenditure is included in prepayments in the balance sheet.

c) Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension under which the company pays a fixed contribution into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense as they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

d) Bonus arrangements
The company operates a discretionary bonus arrangement for employees. An expense is recognised in the income statement when the management of the company approve the payments under the scheme.

3. OTHER OPERATING INCOME
2024 2023
£    £   
Rents received - 5,333

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,757,455 2,615,119
Social security costs 276,825 269,618
Other pension costs 132,442 94,514
3,166,722 2,979,251

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Office and management 63 59

The directors are the key management personnel.

2024 2023
£    £   
Directors' remuneration 621,470 644,367
Directors' pension contributions to money purchase schemes 44,848 17,468

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

Money purchase schemes 6 6

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 114,373 119,448
Pension contributions to money purchase schemes 12,150 3,589

5. OPERATING PROFIT

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

2024 2023
£    £   
Rent - other operating leases 247,953 170,335
Depreciation - owned assets 235,086 248,203
Profit on disposal of fixed assets (33,364 ) (25,771 )
Goodwill amortisation 317,358 323,679
Patents and licences amortisation - 1,068
Auditors' remuneration 50,705 40,336
Foreign exchange differences 8,534 (8,548 )

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 158,724 142,854
Preference share interest 28,071 30,000
186,795 172,854

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 36,881 5,895

Deferred tax 12,820 2,339
Tax on profit 49,701 8,234

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:

2024 2023
£    £   
Profit before tax 178,137 207,126
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 19
%)

44,534

39,354

Effects of:
Expenses not deductible for tax purposes 4,759 2,935
Capital allowances in excess of depreciation (64,298 ) (74,751 )
Movement in deferred tax 12,820 2,339
Goodwill not deductible for tax purposes 76,196 57,896
Loss carried forward - 16,951
Losses utilised (23,396 ) (36,490 )
Impact of marginal relief and rate change (914 ) -
Total tax charge 49,701 8,234

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Revaluation of tangible fixed assets (576,065 ) 93,756 (482,309 )

2023
Gross Tax Net
£    £    £   
Revaluation of tangible fixed assets

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

9. INTANGIBLE FIXED ASSETS

Group
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1st March 2023
and 29th February 2024 3,249,016 20,268 3,269,284
AMORTISATION
At 1st March 2023 2,205,586 20,268 2,225,854
Amortisation for year 317,358 - 317,358
At 29th February 2024 2,522,944 20,268 2,543,212
NET BOOK VALUE
At 29th February 2024 726,072 - 726,072
At 28th February 2023 1,043,430 - 1,043,430

10. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold Short to Plant and
property leasehold property machinery
£    £    £    £   
COST OR VALUATION
At 1st March 2023 1,582,614 15,273 1,138,867 430,308
Additions - - 1,473,914 55,349
Disposals - - - (6,962 )
Revaluations (434,251 ) - (141,814 ) -
At 29th February 2024 1,148,363 15,273 2,470,967 478,695
DEPRECIATION
At 1st March 2023 40,479 15,273 232,175 219,965
Charge for year 4,814 - 41,862 100,536
Eliminated on disposal - - - (6,962 )
At 29th February 2024 45,293 15,273 274,037 313,539
NET BOOK VALUE
At 29th February 2024 1,103,070 - 2,196,930 165,156
At 28th February 2023 1,542,135 - 906,692 210,343

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1st March 2023 883,640 86,391 604,695 4,741,788
Additions 198,577 - 49,677 1,777,517
Disposals (98,111 ) (16,425 ) (161,211 ) (282,709 )
Revaluations - - - (576,065 )
At 29th February 2024 984,106 69,966 493,161 5,660,531
DEPRECIATION
At 1st March 2023 752,695 86,391 552,647 1,899,625
Charge for year 55,739 - 32,135 235,086
Eliminated on disposal (83,781 ) (16,425 ) (161,211 ) (268,379 )
At 29th February 2024 724,653 69,966 423,571 1,866,332
NET BOOK VALUE
At 29th February 2024 259,453 - 69,590 3,794,199
At 28th February 2023 130,945 - 52,048 2,842,163

Included in cost or valuation of land and buildings is freehold land of £729,368 (2023 - £1,148,998) which is not depreciated.

Cost or valuation at 29th February 2024 is represented by:

Improvements
Freehold Short to Plant and
property leasehold property machinery
£    £    £    £   
Valuation in 2024 (434,251 ) - (141,814 ) -
Valuation in 2022 33,509 - 150,108 -
Valuation in 2018 126,600 - 171,550 -
Valuation in 2017 64,041 - - -
Valuation in 2015 206,136 - 72,196 -
Cost 1,152,328 15,273 2,218,927 478,695
1,148,363 15,273 2,470,967 478,695

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2024 - - - (576,065 )
Valuation in 2022 - - - 183,617
Valuation in 2018 - - - 298,150
Valuation in 2017 - - - 64,041
Valuation in 2015 - - - 278,332
Cost 984,106 69,966 493,161 5,412,456
984,106 69,966 493,161 5,660,531

The directors believe that there has been no material change in valuation between the 28th February 2022 and the balance sheet date.

Company
Computer
equipment
£   
COST
At 1st March 2023 129,468
Additions 18,720
Disposals (14,116 )
At 29th February 2024 134,072
DEPRECIATION
At 1st March 2023 105,346
Charge for year 9,257
Eliminated on disposal (14,116 )
At 29th February 2024 100,487
NET BOOK VALUE
At 29th February 2024 33,585
At 28th February 2023 24,122

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st March 2023
and 29th February 2024 4,797,868
NET BOOK VALUE
At 29th February 2024 4,797,868
At 28th February 2023 4,797,868

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Roxton Bailey Robinson Limited
Registered office: United Kingdom
Nature of business: Tour operator and sporting agent
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 996,382 1,048,816
Profit for the year 24,155 328,548

The company acquired the share in Roxton Bailey Robinson Limited on the 9th March 2016 under a share for share exchange arrangement.

Fly Fisher Group Limited
Registered office: United Kingdom
Nature of business: Dormant Company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 100 100

Fly Fisher Group limited is a wholly owned subsidiary of Roxton Bailey Robinson Limited RBR. Its business was transferred into RBR on the 28th February 2019 and its remaining assets were hived up in 2020.

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

11. FIXED ASSET INVESTMENTS - continued

Ian Coley Sporting Limited
Registered office: United Kingdom
Nature of business: Sporting goods and services
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 3,695,339 3,987,964
Profit for the year 113,095 110,727

Bailey Robinson Holdings Limited
Registered office: United Kingdom
Nature of business: Dormant Holding Company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,242,274 1,242,274

The company acquired the shares in Bailey Robinson Holdings Limited on 3rd May 2016 under a share for share exchange arrangement.

Bailey Robinson Limited
Registered office: United Kingdom
Nature of business: Tour operator
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 262,657 138,840
Profit for the year 123,817 276,369

Bailey Robinson Limited is a wholly owned subsidiary of Bailey Robinson Holdings Limited.

Real Holidays Travel Agency Limited
Registered office: United Kingdom
Nature of business: Travel agency and tour operator
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 420,142 282,417
Profit for the year 137,725 91,151

Real Holidays Travel Agency Limited is a wholly owned subsidiary of Bailey Robinson Holdings Limited.

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

11. FIXED ASSET INVESTMENTS - continued

RBR Arden Shoot Limited
Registered office: United Kingdom
Nature of business: Sporting Events
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 32,161 (28,209 )
Profit for the year 60,370 14,881

RBR Arden Shoot Limited is a wholly owned subsidiary of Roxton Bailey Robinson Limited.

RBR Badminton Shoot Limited
Registered office: United Kingdom
Nature of business: Shoot Operator
%
Class of shares: holding
Ordinary Shares 100.00
2024 2023
£    £   
Aggregate capital and reserves (166,016 ) (133,193 )
Loss for the year (32,823 ) (163,193 )

RBR Badminton Shoot Limited is a wholly owned subsidiary of Roxton Bailey Robinson Limited.


12. STOCKS

Group
2024 2023
£    £   
Finished goods 2,263,936 2,372,866

13. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 3,278,527 2,792,059 - -
Amounts owed by group undertakings - - 1,356,051 882,456
Other debtors 200,680 194,294 - -
Tax - 13,602 - -
VAT - 33,276 - -
Deferred costs 2,872,598 2,280,106 - -
Prepayments 81,396 127,363 20,588 28,884
Asset under construction - 900,763 - -
6,433,201 6,341,463 1,376,639 911,340

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

13. DEBTORS - continued

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due after more than one year:
Trade debtors 90,810 78,152 - -
S455 tax paid 50,258 49,669 - -
Deferred costs 16,879 42,446 - -
157,947 170,267 - -

Aggregate amounts 6,591,148 6,511,730 1,376,639 911,340

Asset under construction comprises the building costs paid and accrued to date on the redevelopment of the shop and school as specified in the quantity surveyors monthly valuations. Integral features of £164k are included within additions under improvements to property together with £16k of additions included within fixtures and fittings. The building work was completed in May 2023 and has been capitalised and re-valued this year.

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 16) 292,636 827,636 292,636 827,636
Preference shares (see note 16) 177,902 66,298 177,902 66,298
Trade creditors 915,657 1,403,850 15,245 6,726
Amounts owed to group undertakings - - - 8,295
Tax 37,470 6,416 122 -
Social security and other taxes 64,697 60,120 521 693
VAT 5,191 - - 3,445
Other creditors 20,683 15,751 7,984 6,001
Accruals 463,397 740,497 41,996 50,344
Deferred income 7,062,055 6,181,977 - -
Trading cost accruals 533,792 480,186 - -
9,573,480 9,782,731 536,406 969,438

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 16) 1,607,704 1,952,423 1,607,704 1,952,423
Preference shares (see note 16) 355,800 533,702 355,800 533,702
Deferred income 113,408 143,074 - -
2,076,912 2,629,199 1,963,504 2,486,125

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loan 127,636 127,636 127,636 127,636
Bank no 2 loan 165,000 700,000 165,000 700,000
Preference shares 177,902 66,298 177,902 66,298
470,538 893,934 470,538 893,934
Amounts falling due between one and two years:
Bank loan - 1-2 years 127,636 127,636 127,636 127,636
Bank no 2 loan 1-2 years 165,000 700,000 165,000 700,000
Preference shares 177,901 177,901 177,901 177,901
470,537 1,005,537 470,537 1,005,537
Amounts falling due between two and five years:
Bank loan - 2-5 years 63,818 191,454 63,818 191,454
Bank no 2 loan 2-5 years 495,000 933,333 495,000 933,333
Preference shares 177,899 355,801 177,899 355,801
736,717 1,480,588 736,717 1,480,588
Amounts falling due in more than five years:
Repayable by instalments
Bank no 2 loan more 5 yr 756,250 - 756,250 -

Bank loans
NatWest provided the company with a loan to assist with the purchase of the acquisition of Ian Coley Sporting Limited. The bank loan is secured on the properties held within the group and all other group associated assets. The bank loan carries an interest of 2.25% over base rate and is repayable over 5 years in equal instalments commencing 8th August 2016. Interest in charged monthly in arrears.

Bank CBIL loan
NatWest provided the company with a £3.5m Coronavirus Business Interruption Loan "CBIL" in December 2020. The loan was repaid in full in September 2023.

Bank no 2 loan to fund new property
In September 2023 the bank advanced £1.65m to fund the building re-development at the Ian Coley Sporting site near Cheltenham. The loan carries interest at 2% over base rate and is repayable over 10 years with a 5 year review. Interest is charged monthly in arrears.

Preference shares
The preference shares were issued to fund the purchase of Ian Coley Sporting Limited. They carry a coupon of 5% and are repayable over 5 equal instalments commencing 8th August 2022. Interest accrues annually and is paid on the 28th February each year.







RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 235,909 351,677
Between one and five years 621,744 1,126,883
In more than five years 145,833 757,166
1,003,486 2,235,726


18. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax
Accelerated capital allowances 63,005 50,186 7,269 3,539
Tax losses carried forward - (16,988 ) - -
Revaluation of tangible assets 4,498 115,241 - -
67,503 148,439 7,269 3,539

Group
Deferred
tax
£   
Balance at 1st March 2023 148,439
Charge to Income Statement during year 12,820
Impact of revaluation (93,756 )
Balance at 29th February 2024 67,503

Company
Deferred
tax
£   
Balance at 1st March 2023 3,539
Provided during year 3,730
Balance at 29th February 2024 7,269


RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
11,262,317 A Ordinary £0.01 112,623 112,623
15,268 C Ordinary £0.01 153 153
112,776 112,776

20. RESERVES

Group
Retained Share Revaluation Merger
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1st March 2023 620,783 3,229,694 554,415 836,560 5,241,452
Profit for the year 128,436 128,436
Transfer to/(from) reserves (11,455 ) - 11,455 - -
Revaluation of tangible fixed
assets - - (482,309 ) - (482,309 )
At 29th February 2024 737,764 3,229,694 83,561 836,560 4,887,579

Company
Retained Share
earnings premium Totals
£    £    £   

At 1st March 2023 542,104 3,229,694 3,771,798
Profit for the year 6,814 6,814
At 29th February 2024 548,918 3,229,694 3,778,612


21. PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held from separately to those of the Company in an independently administered fund. The charge for the year was £132,442 (2023 - £94,514). There were no amounts outstanding at the year end.

22. CONTINGENT LIABILITIES

The following undertakings are ATOL registered:

Company ATOL Number

Roxton Bailey Robinson Limited 10353
Bailey Robinson Limited 4786
Real Holidays Travel Agency Limited 4607

On 16th February 2016 at the request of ATOL, a standard ATOL cross guarantees were put in place between the above companies. On the 2nd June 2017 the guarantee was extended to include RBR Group Limited and Ian Coley Sporting Limited.

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

23. OTHER FINANCIAL COMMITMENTS

As at the 29th February 2024, there were contractual commitments to purchase the sterling value of the following currencies:

2024 2023
£    £   

US dollars 210,782 154,008
Euro 83,467 6,116
Canadian dollars - 83,884

The impact of revaluing the above contracts as at 29th February 2024 to market rates generated a foreign exchange gain of £2,382 which has been provided in the accounts.

RBR Group Limited (Registered number: 09952535)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 29th February 2024

24. DIRECTORS' INTERESTS IN TRANSACTIONS

During the year the company purchased good and services from the following directors:

2024 2023

J Duncan 118,060 16,124
Dunley Interim Management (a company controlled by A Murray) 1,546 1,113
G Stephenson 189,684 226,022

The amounts due to (due from) the above directors at the period end:

2024 2023

G Stephenson 6,000 -
J Duncan 6,105 -

During the year the following directors received goods and services on normal commercial terms

2024 2022

P Clay - 59,200
J Duncan 13,100 13,260
R Pilkington 13,150 10,414
A Bromfield 385 -
G Stephenson 130,883 81,312
C White 2,656 5,539
A Murray 8,950 20,308
H Mountain 54,469 -

The amounts due from or (due to) directors at 29th February 2024 are shown below

2024 2023

A Murray 6,670 -
R Pilkington 3,058 (2,097 )
G Stephenson 12,260 74
J Duncan 4,100 12,510

The balances above were settled on or before the date of departure or receipt of goods.

On the 25th June 2010 the Group advanced £136,800 to J Duncan, C White, A Bromfield and one other to permit them to purchase shares in the Group subsidiary companies. These shares were exchanged for RBR Group shares in March and May 2016 under the share for share exchange when the RBR Group was formed. The balance outstanding on these loans on 29th February 2024 was £97,111 (2023 - £97,111).

On the 19th April 2018 the Group advanced £75,600 to P Rippin secured over his RBR Group shares. The balance outstanding on this loan on 29th February 2024 was £79,811 (2023 - £78,068).