REGISTERED NUMBER: 01211657 (England and Wales) |
Group Strategic Report, Report of the Directors and |
Consolidated Financial Statements |
for the Year Ended 31 May 2024 |
for |
Stan Robinson Group Limited |
REGISTERED NUMBER: 01211657 (England and Wales) |
Group Strategic Report, Report of the Directors and |
Consolidated Financial Statements |
for the Year Ended 31 May 2024 |
for |
Stan Robinson Group Limited |
Stan Robinson Group Limited (Registered number: 01211657) |
Contents of the Consolidated Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 5 |
Independent Auditors' Report | 7 |
Consolidated Statement of Comprehensive Income | 10 |
Consolidated Balance Sheet | 11 |
Company Balance Sheet | 12 |
Consolidated Statement of Changes in Equity | 13 |
Company Statement of Changes in Equity | 14 |
Consolidated Cash Flow Statement | 15 |
Notes to the Consolidated Cash Flow Statement | 16 |
Notes to the Consolidated Financial Statements | 17 |
Stan Robinson Group Limited |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
Regent House |
Bath Avenue |
Wolverhampton |
West Midlands |
WV1 4EG |
Stan Robinson Group Limited (Registered number: 01211657) |
Group Strategic Report |
for the Year Ended 31 May 2024 |
The directors present their strategic report of the company and the group for the year ended 31 May 2024. |
The principal activity of the group in the year under review was that of nationwide road haulage distribution and storage contractors. |
REVIEW OF BUSINESS |
The results for the year of the company and group are set out in the annexed financial statements. |
2023-2024 was another successful year for Stan Robinson Group. |
Throughout the year the Group has remained financially strong with very good levels of cashflow providing self funding without the need for bank financing. |
KEY PERFORMANCE INDICATORS |
The following are some of the more significant key performance indicators identified by the Directors: |
Turnover |
Total consolidated group sales of £26.1 million were made in the year compared to £26.7 million last year. The turnover figures excluding the diesel surcharge show an increase with £25.5 million this year as compared to £24.9 million last year. |
The service performance of the haulage operation continues to be excellent underlying Stan Robinson's continued commitment to retain and further its reputation in the industry. The management and staff have continued to work hard to maintain its commitment to customers by always looking to improve service quality and achieve customer satisfaction. |
Asset investment |
The Group continues to invest in its vehicles to support the haulage business with £1.3 million being invested again this year. This continuous investment looks to improve the quality of service and realise better service times to ensure customer expectations are met or better still exceeded. |
Operating cashflow |
As mentioned previously, the Group continues to manage its trading cashflow exceptionally well without the need of bank overdrafts or bank financing. In 2024 cash generated from operations was almost £1.7 million. |
The Directors have always and continue to monitor the Group's performance on a regular basis by a review of various financial reports prepared by management striving for continual improvement wherever possible. |
STREAMLINED ENERGY AND CARBON REPORTING |
Greenhouse gas (GHG) emissions and energy use for the period 1 June 2023 to 31 May 2024 |
2023/24 | 2022/23 |
Scope 1 emissions in metric tonnes CO2e |
Vehicle fleet (mobile) | 9,971 | 9,775 |
Scope 2 emissions in metric tonnes CO2e |
Purchased electricity | 264 | 291 |
Total gross emissions in metric tonnes CO2e | 10,235 | 10,066 |
Intensity ratio Tonnes CO2e per £m | 392 | 377 |
Stan Robinson Group Limited (Registered number: 01211657) |
Group Strategic Report |
for the Year Ended 31 May 2024 |
STREAMLINED ENERGY AND CARBON REPORTING (continued) |
Managing climate and energy |
The Group's primary energy objective is to maintain and improve current performance levels in relation to the energy baseline already established and the energy efficiency of the Group by identifying project specific initiatives to reduce electricity consumption and fuel use. Monitoring of electricity and fuel use is used to inform the success of the initiatives and to identify how further energy efficiencies can be achieved. The plan aims to mitigate the impact of CO2 emissions. |
Strategy |
1. Agree annual energy targets in line with energy baseline, strategy, goals, and monitor performance monthly. |
2. Review performance trends and continually update the action plan. |
3. Engage with employees to ensure they support the approach to energy management. |
4. Empower employees to change the way they work. |
4. Ensure as directors that the Group complies with existing, new and emerging legislation. |
The Group will continuously monitor performance and report any progress against actions. The action plans will be reviewed monthly by directors and senior management. |
Carbon data reporting methodology |
The directors have followed the 2019 HM Government Environmental Reporting Guidelines. They have also used the GHG Reporting Protocol Corporate Standard and have used the 2024 UK Government's Conversion Factors for Company Reporting. |
Further they have used the intensity metric of total Greenhouse Gas (GHG) emissions per £m revenue (tCO2e/£m) for normalising emissions. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The principal risk facing the group continues to be maintaining margins and market share which continue to be challenging but, through great service to customers, strong regional representation and the use of modern technology, the directors are confident that the group will always be able to meet this challenge. |
Further, the group is always exposed to diesel price risk as diesel fuel is a key supply to the transport fleet of vehicles. With new operational efficiencies continually being sought, the directors are hopeful of profitability being sustained. The directors keep a very strict control on all costs and will continue to do so. |
SECTION 172(1) STATEMENT |
The directors of Stan Robinson Group Limited ("Stan Robinson") confirm that they have acted in good faith in the way they consider what would be most likely to promote the success of the Group for the benefit of its members as a whole. In doing so they have considered, among other matters, those set out in section 172(1) (a) to (f) of the Companies Act 2006: |
(a) the likely consequences of any decision in the long term; |
(b) the interests of the group's employees; |
(c) the need to foster the group's business relationships with suppliers, customers and others; |
(d) the impact of the group's operations on the community and the environment; |
(e) the desirability of the group maintaining a reputation for high standards of business conduct; |
(f) and the need to act fairly as between members of the group. |
The stakeholders the directors consider in this regard are primarily its employees and customers. Engagement with all stakeholders is of fundamental importance across the business and the directors are focused on building these relationships on a continuous basis. |
Stan Robinson Group Limited (Registered number: 01211657) |
Group Strategic Report |
for the Year Ended 31 May 2024 |
SECTION 172(1) STATEMENT (continued) |
Employees |
The employees are at the centre of everything Stan Robinson does and the Group continues to invest time and money in making Stan Robinson a better place to work. The directors recognise that the success of the business depends on attracting, retaining and motivating employees, by ensuring that Stan Robinson remains a responsible employer, from pay and benefits to the health, safety and workplace environment. The employees, staff and directors have lots of expertise, especially in terms of experience and logistics know-how.Gender pay gap is monitored and the directors try to identify opportunities to improve performance throughout all levels of employ. |
Customers |
Stan Robinson seeks to put its customers at the top of its priorities. In some areas there is some reliance on a small number of customers. Loss of a significant customer would impact on revenues and profits. Relationship management of significant customers remains a priority, with the senior management closely involved and reporting regularly. |
The directors consider that in the best interests of Stan Robinson and to do the right thing in terms of delivering continued value for all stakeholders over the longer term that cash be retained to continue capital investment to further develop and grow the logistics business. A newer vehicle fleet will have a beneficial impact on the community in terms of having quality of jobs available, and will further support the development of a low carbon infrastructure by working to minimise emissions. |
POSITION OF THE GROUP’S BUSINESS AT THE END OF THE YEAR |
The financial positions of the company and group at the end of the year is extremely healthy with adequate cash resources for continuing the business operations. The group balance sheet shows net current assets of £4.9 million and shareholders' funds of almost £18 million. |
OUTLOOK FOR 2025 |
The Directors remain pleased with the position that the Group is in and continue to work hard to win new business and further increase the organic growth of the business from its existing customers. The Directors are confident that the Group is well placed to continue to maintain similar levels of profitability in the coming years. |
BY ORDER OF THE BOARD: |
Stan Robinson Group Limited (Registered number: 01211657) |
Report of the Directors |
for the Year Ended 31 May 2024 |
The directors present their report with the financial statements of the company and the group for the year ended 31 May 2024. |
DIVIDENDS |
An interim dividend of £0.37 per share on the Ordinary £1 shares was paid on 30 September 2023. |
Final dividends on the shares were paid 31 May 2024 as follows: |
Ordinary £1 shares | £0.31 |
Preference £1 shares | £0.035 |
The total distribution of dividends for the year ended 31 May 2024 is £277,250. |
DIRECTORS |
The following were directors of the company during the year: |
FE Robinson |
IG Robinson |
MS Robinson |
P Wilson |
EMPLOYMENT OF DISABLED PERSONS |
The group is committed to a policy of recruitment and promotion on the basis of aptitude and ability without discrimination of any kind. Management actively pursues both the employment of disabled persons whenever a suitable vacancy arises and the continued employment and retraining of employees who become disabled whilst employed by the group. Particular attention is given to the training, career development and promotion of disabled employees with a view to encouraging them to play an active role in the development of the group. |
EMPLOYEE INVOLVEMENT |
The group's informal management style allows the maintenance of the flow of information to employees, all of whom are eligible to participate in the group's pension scheme. |
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; |
- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | 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. |
Stan Robinson Group Limited (Registered number: 01211657) |
Report of the Directors |
for the Year Ended 31 May 2024 |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
In the case of each of the persons who are directors of the company at the date when this report is approved: |
- So far as each of the directors is aware, there is no relevant audit information of which the company's auditors are unaware; and |
- Each of the directors has taken all the steps that they ought to have taken as director to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
This confirmation is given and should be interpreted in accordance with the provisions of S.418 of the Companies Act 2006. |
BY ORDER OF THE BOARD: |
Independent Auditors' Report to the Members of |
Stan Robinson Group Limited |
Opinion |
We have audited the financial statements of Stan Robinson Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 2024 which comprise the Consolidated Statement of 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's affairs as at 31 May 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; |
- 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 Auditors' Report 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. |
Independent Auditors' Report to the Members of |
Stan Robinson Group Limited |
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 in relation to which 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. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page five, 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 an Auditors' Report 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: |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
In planning and designing our audit tests we identify and assess the risks of material misstatement within the financial statements, whether due to fraud or error. Our assessment of these risks includes consideration of the nature of the industry and sector, the control environment and the business performance along with the results of our enquiries of management about their own identification and assessment of risks and irregularities. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK tax legislation and other laws and regulations identified as risk areas identified from our discussions with management. |
Independent Auditors' Report to the Members of |
Stan Robinson Group Limited |
We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
After consideration of the above risks we then carried out audit procedures including the following: |
- specific tests in relation to material amounts and disclosures in the financial statements considered to be of high risk; |
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
- reviewing correspondence with H M Revenue & Customs; |
- enquiring of management and reviewing any correspondence with legal advisors concerning actual and potential litigation and claims; |
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
There are inherent limitations in our audit procedures described above. The more removed that the laws and regulations are from financial transactions the less likely it is that we would be aware on non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
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 Auditors' Report. |
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 an Auditors' Report 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. |
for and on behalf of |
Chartered Accountants and Statutory Auditors |
Regent House |
Bath Avenue |
Wolverhampton |
West Midlands |
WV1 4EG |
Stan Robinson Group Limited (Registered number: 01211657) |
Consolidated Statement of Comprehensive Income |
for the Year Ended 31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ |
TURNOVER | 3 | 26,108,082 | 26,652,933 |
Cost of sales | 19,584,590 | 19,821,778 |
GROSS PROFIT | 6,523,492 | 6,831,155 |
Administrative expenses | 5,771,174 | 5,764,198 |
752,318 | 1,066,957 |
Other operating income | 137,152 | 139,454 |
OPERATING PROFIT | 6 | 889,470 | 1,206,411 |
Interest receivable and similar income | 27,166 | 13,759 |
916,636 | 1,220,170 |
Interest payable and similar expenses | 8 | 11,918 | 29,202 |
PROFIT BEFORE TAXATION | 904,718 | 1,190,968 |
Tax on profit | 9 | 265,858 | 532,987 |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
638,860 |
657,981 |
Profit attributable to: |
Owners of the parent | 638,860 | 657,981 |
Total comprehensive income attributable to: |
Owners of the parent | 638,860 | 657,981 |
Stan Robinson Group Limited (Registered number: 01211657) |
Consolidated Balance Sheet |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 12 | 14,662,695 | 15,010,909 |
Investments | 13 | - | - |
14,662,695 | 15,010,909 |
CURRENT ASSETS |
Stocks | 14 | 155,993 | 116,023 |
Debtors | 15 | 4,858,948 | 4,796,540 |
Cash at bank and in hand | 2,842,814 | 2,544,985 |
7,857,755 | 7,457,548 |
CREDITORS |
Amounts falling due within one year | 16 | 2,983,414 | 3,427,252 |
NET CURRENT ASSETS | 4,874,341 | 4,030,296 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
19,537,036 |
19,041,205 |
CREDITORS |
Amounts falling due after more than one year |
17 |
(350,000 |
) |
(350,000 |
) |
PROVISIONS FOR LIABILITIES | 21 | (1,212,806 | ) | (1,090,835 | ) |
NET ASSETS | 17,974,230 | 17,600,370 |
CAPITAL AND RESERVES |
Called up share capital | 22 | 433,840 | 433,840 |
Capital redemption reserve | 23 | 600 | 600 |
Retained earnings | 23 | 17,539,790 | 17,165,930 |
SHAREHOLDERS' FUNDS | 17,974,230 | 17,600,370 |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by: |
MS Robinson - Director |
Stan Robinson Group Limited (Registered number: 01211657) |
Company Balance Sheet |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 12 |
Investments | 13 |
CURRENT ASSETS |
Debtors | 15 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 16 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
17 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 21 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 22 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 386,577 | 364,629 |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
Stan Robinson Group Limited (Registered number: 01211657) |
Consolidated Statement of Changes in Equity |
for the Year Ended 31 May 2024 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 June 2022 | 433,840 | 16,722,949 | 600 | 17,157,389 |
Changes in equity |
Dividends | - | (215,000 | ) | - | (215,000 | ) |
Total comprehensive income | - | 657,981 | - | 657,981 |
Balance at 31 May 2023 | 433,840 | 17,165,930 | 600 | 17,600,370 |
Changes in equity |
Dividends | - | (265,000 | ) | - | (265,000 | ) |
Total comprehensive income | - | 638,860 | - | 638,860 |
Balance at 31 May 2024 | 433,840 | 17,539,790 | 600 | 17,974,230 |
Stan Robinson Group Limited (Registered number: 01211657) |
Company Statement of Changes in Equity |
for the Year Ended 31 May 2024 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 June 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 May 2023 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 May 2024 |
Stan Robinson Group Limited (Registered number: 01211657) |
Consolidated Cash Flow Statement |
for the Year Ended 31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 1,689,121 | 3,461,842 |
Interest paid | 1,875 | (9,176 | ) |
Interest element of hire purchase payments paid |
(1,543 |
) |
(7,776 |
) |
Finance costs paid | (12,250 | ) | (12,250 | ) |
Tax paid | 251,000 | (148,341 | ) |
Net cash from operating activities | 1,928,203 | 3,284,299 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (1,561,426 | ) | (2,607,747 | ) |
Sale of tangible fixed assets | 213,294 | 68,767 |
Interest received | 27,166 | 13,759 |
Net cash from investing activities | (1,320,966 | ) | (2,525,221 | ) |
Cash flows from financing activities |
Loan repayments in year | - | (260,000 | ) |
Hire purchase repayments in year | (44,408 | ) | (276,437 | ) |
Equity dividends paid | (265,000 | ) | (215,000 | ) |
Net cash from financing activities | (309,408 | ) | (751,437 | ) |
Increase in cash and cash equivalents | 297,829 | 7,641 |
Cash and cash equivalents at beginning of year |
2 |
2,544,985 |
2,537,344 |
Cash and cash equivalents at end of year | 2 | 2,842,814 | 2,544,985 |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Cash Flow Statement |
for the Year Ended 31 May 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
31.5.24 | 31.5.23 |
£ | £ |
Profit before taxation | 904,718 | 1,190,968 |
Depreciation charges | 1,720,218 | 1,503,465 |
Profit on disposal of fixed assets | (23,872 | ) | (30,514 | ) |
Finance costs | 11,918 | 29,202 |
Finance income | (27,166 | ) | (13,759 | ) |
2,585,816 | 2,679,362 |
(Increase)/decrease in stocks | (39,970 | ) | 70,508 |
(Increase)/decrease in trade and other debtors | (313,408 | ) | 672,785 |
(Decrease)/increase in trade and other creditors | (543,317 | ) | 39,187 |
Cash generated from operations | 1,689,121 | 3,461,842 |
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 31 May 2024 |
31.5.24 | 1.6.23 |
£ | £ |
Cash and cash equivalents | 2,842,814 | 2,544,985 |
Year ended 31 May 2023 |
31.5.23 | 1.6.22 |
£ | £ |
Cash and cash equivalents | 2,544,985 | 2,537,344 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.6.23 | Cash flow | At 31.5.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 2,544,985 | 297,829 | 2,842,814 |
2,544,985 | 297,829 | 2,842,814 |
Debt |
Finance leases | (44,408 | ) | 44,408 | - |
Debts falling due after 1 year | (350,000 | ) | - | (350,000 | ) |
(394,408 | ) | 44,408 | (350,000 | ) |
Total | 2,150,577 | 342,237 | 2,492,814 |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements |
for the Year Ended 31 May 2024 |
1. | COMPANY INFORMATION |
Stan Robinson Group's Limited's continuing principal activities during the year was that of nationwide road haulage distribution and storage contractors. |
The Company, registered in England and Wales, (registered number 01211657), is a private limited company, limited by shares, incorporated and domiciled in the UK. The address of the registered office and principal place of business is Ladford Fields, Seighford, Stafford, ST18 9QE. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The principle accounting policies adopted in the preparation of the financial statements are set out below. |
These Group 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 and are in accordance with applicable accounting standard. |
The group has cash resources and has no requirement for further external funding. The directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future.On this basis the directors consider that it is appropriate to prepare the accounts on a going concern basis. |
The financial statements are prepared in sterling which is the functional currency of the group, and rounded to the nearest pound. |
Basis of consolidation |
The consolidated financial statements incorporate the results of Stan Robinson Group Limited and all its subsidiary undertakings as at 31 May 2024 using the acquisition or merger method of accounting as required. Where the acquisition method is used, the results of subsidiary undertakings are included from the date of acquisition. |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include: |
Trade debtor provisioning |
An allowance for doubtful accounts is maintained for potential credit losses based upon management's assessment of the expected collectability of all accounts receivable. The allowance for doubtful accounts is reviewed periodically to assess the adequacy of the allowance. |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates value added tax and other sales taxes. |
The following criteria is used to determine when revenue is recognised: |
Haulage and storage |
Revenue is recognised on the delivery of the service based on the proportion of the total delivered at the Statement of Financial Position date. |
Parts sales, servicing and test station fees |
Revenue is recognised when the significant risks and rewards of ownership have transferred to the customer. This is usually at the point when the goods are despatched or the service has been delivered. |
Storage and pick and pack warehousing |
Revenue is recognised on the delivery of the service based on the proportion of the total delivered at the Statement of Financial Position date. |
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. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or over the period economic benefits are expected to continue, if shorter. |
Freehold property | - 2% on cost |
Long leasehold | - 5% on cost |
Plant and machinery | - 25% on reducing balance, at variable rates on reducing balance, and straight line rates between 10% and 33% and straight line rates between 10% and 25%. |
Office equipment | - 25% straight line and straight line rates between 10% and 25% |
Motor vehicles | - 25% on reducing balance |
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. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within Cost of Sales in the Income Statement. |
Investment property |
Investment properties are included in the statement of financial position at their open market value and are not depreciated. This treatment is contrary to the Companies Act 2006, which states that fixed assets should be depreciated, but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company and the group. |
Stocks |
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. |
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its net realisable value. The impairment loss is recognised immediately in profit or loss. |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Tax is recognised in the Income Statement, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
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 group operates and generates income. |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. |
Deferred tax liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. |
Deferred tax balances are not discounted. |
Cash and cash equivalents |
Cash and cash equivalents are defined as cash in hand, demand deposits, and highly liquid investments readily convertible to known amounts of cash and subject to insignificant risk of changes in value. |
Hire purchase |
Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful lives. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The group operates two defined contribution pension scheme. Contributions payable to the group's pension schemes are charged to profit or loss in the period to which they relate. |
The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plans are held separately from the group in independently administered funds. |
Finance costs |
Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The group enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties. |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial equity is classified according to the substance of the financial instrument's contractual obligations, rather than the instruments legal form. In line with this policy, the preference shares are classified as a liability. |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the group. |
An analysis of turnover by class of business is given below: |
31.5.24 | 31.5.23 |
£ | £ |
Haulage and storage | 25,371,720 | 25,933,762 |
Parts sales and servicing | 159,432 | 82,156 |
Test station fees | 534,630 | 604,148 |
Rents receivable | 42,300 | 32,867 |
26,108,082 | 26,652,933 |
4. | EMPLOYEES AND DIRECTORS |
31.5.24 | 31.5.23 |
£ | £ |
Wages and salaries | 10,722,638 | 10,372,931 |
Social security costs | 1,111,639 | 1,099,540 |
Other pension costs | 427,152 | 426,606 |
12,261,429 | 11,899,077 |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
4. | EMPLOYEES AND DIRECTORS - continued |
The average number of employees during the year was as follows: |
31.5.24 | 31.5.23 |
Drivers and loaders | 177 | 214 |
Indirect | 67 | 38 |
Administration | 50 | 53 |
5. | DIRECTORS' EMOLUMENTS |
31.5.24 | 31.5.23 |
£ | £ |
Directors' remuneration | 327,211 | 428,027 |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes | 3 | 3 |
Information regarding the highest paid director is as follows: |
31.5.24 | 31.5.23 |
£ | £ |
Emoluments etc | 117,136 | 168,079 |
All the directors have authority and responsibility for planning, directing and controlling the business and are considered to be the key management personnel. |
6. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
31.5.24 | 31.5.23 |
£ | £ |
Hire of plant and equipment | 50,356 | 40,986 |
Other operating leases | 671,332 | 640,988 |
Depreciation - owned assets | 1,691,818 | 1,228,337 |
Depreciation - assets on hire purchase contracts | 28,400 | 275,128 |
Profit on disposal of fixed assets | (23,872 | ) | (30,514 | ) |
7. | AUDITORS' REMUNERATION |
31.5.24 | 31.5.23 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
15,660 |
14,500 |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
8. | INTEREST PAYABLE AND SIMILAR EXPENSES |
31.5.24 | 31.5.23 |
£ | £ |
Bank interest | - | 224 |
Other loan interest | - | 1,452 |
Bank loan interest and fees (previous year adjustment) |
(1,875 |
) |
7,500 |
Hire purchase | 1,543 | 7,776 |
Preference dividend | 12,250 | 12,250 |
11,918 | 29,202 |
9. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
31.5.24 | 31.5.23 |
£ | £ |
Current tax: |
UK corporation tax | 143,887 | - |
Adjustment in respect of prior |
periods | - | (4,659 | ) |
Total current tax | 143,887 | (4,659 | ) |
Deferred tax | 121,971 | 537,646 |
Tax on profit | 265,858 | 532,987 |
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: |
31.5.24 | 31.5.23 |
£ | £ |
Profit before tax | 904,718 | 1,190,968 |
Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 25 %) |
226,180 |
297,742 |
Effects of: |
Expenses not deductible for tax purposes | 40,074 | 57,639 |
Adjustments to tax charge in respect of previous periods | - | (4,659 | ) |
Effect of a change in tax rates | - | 182,265 |
Rounding | (396 | ) | - |
Total tax charge | 265,858 | 532,987 |
10. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME |
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. |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
11. | DIVIDENDS |
31.5.24 | 31.5.23 |
£ | £ |
Ordinary shares of £1 each |
Final | 120,000 | 70,000 |
Interim | 145,000 | 145,000 |
265,000 | 215,000 |
12. | TANGIBLE FIXED ASSETS |
Group |
Freehold | Long | Plant and |
property | leasehold | machinery |
£ | £ | £ |
COST |
At 1 June 2023 | 11,752,643 | 712,453 | 1,522,361 |
Additions | 100,000 | - | 170,458 |
Disposals | (140,000 | ) | - | - |
At 31 May 2024 | 11,712,643 | 712,453 | 1,692,819 |
DEPRECIATION |
At 1 June 2023 | 2,767,772 | 489,398 | 1,256,522 |
Charge for year | 182,216 | 12,508 | 140,472 |
Eliminated on disposals | - | - | - |
At 31 May 2024 | 2,949,988 | 501,906 | 1,396,994 |
NET BOOK VALUE |
At 31 May 2024 | 8,762,655 | 210,547 | 295,825 |
At 31 May 2023 | 8,984,871 | 223,055 | 265,839 |
Office | Motor |
equipment | vehicles | Totals |
£ | £ | £ |
COST |
At 1 June 2023 | 163,852 | 18,347,900 | 32,499,209 |
Additions | 17,836 | 1,273,132 | 1,561,426 |
Disposals | - | (1,098,841 | ) | (1,238,841 | ) |
At 31 May 2024 | 181,688 | 18,522,191 | 32,821,794 |
DEPRECIATION |
At 1 June 2023 | 113,605 | 12,861,003 | 17,488,300 |
Charge for year | 12,599 | 1,372,423 | 1,720,218 |
Eliminated on disposals | - | (1,049,419 | ) | (1,049,419 | ) |
At 31 May 2024 | 126,204 | 13,184,007 | 18,159,099 |
NET BOOK VALUE |
At 31 May 2024 | 55,484 | 5,338,184 | 14,662,695 |
At 31 May 2023 | 50,247 | 5,486,897 | 15,010,909 |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
12. | TANGIBLE FIXED ASSETS - continued |
Group |
Included in cost of land and buildings is freehold land of £1,701,232 (2023 - £1,701,232) which is not depreciated. |
Also included in freehold property for both the Group and the Company are investment properties at valuation of £850,066 (2023 - £850,066), which is the same as original cost. No depreciation is charged on these properties. The investment properties were valued by the directors at open market value. |
The net book value of the fixed assets includes £nil (2023 - £113,602) held under hire purchase contracts. |
Company |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1 June 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Included in freehold property for the Company are investment properties at valuation of £850,066 (2023 - £850,066), which is the same as the original cost. No depreciation is charged on these properties. The investment properties were valued by the directors at the open market value. Also included in freehold property is further freehold land of £1,701,232 (2023 - £1,701,232) which is not depreciated. |
13. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 June 2023 |
and 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
13. | FIXED ASSET INVESTMENTS - continued |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
Registered office: Ladford Fields, Seighford, Stafford ST18 9QE |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Ladford Fields, Seighford, Stafford, ST18 9QE |
Nature of business: |
% |
Class of shares: | holding |
14. | STOCKS |
Group |
31.5.24 | 31.5.23 |
£ | £ |
Fuel, tyres and spares | 155,993 | 116,023 |
15. | DEBTORS |
Group | Company |
31.5.24 | 31.5.23 | 31.5.24 | 31.5.23 |
£ | £ | £ | £ |
Amounts falling due within one year: |
Trade debtors | 4,358,887 | 4,101,270 |
Other debtors | 21,125 | 32,621 |
Corporation tax | - | 251,000 |
VAT | - | - |
Prepayments and accrued income | 478,936 | 411,649 |
4,858,948 | 4,796,540 |
Amounts falling due after more than one | year: |
Amounts owed by group undertakings | - | - | 1,500,000 | 1,500,000 |
Aggregate amounts | 4,858,948 | 4,796,540 |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.5.24 | 31.5.23 | 31.5.24 | 31.5.23 |
£ | £ | £ | £ |
Hire purchase contracts (see note 19) | - | 44,408 |
Trade creditors | 1,348,153 | 1,841,440 |
Amounts owed to group undertakings | - | - |
Corporation tax | 143,887 | - |
Social security and other taxes | 279,226 | 262,299 |
VAT | 501,124 | 334,000 | - | - |
Other creditors | 107,319 | 41,186 |
Directors' loan accounts | 149,324 | 141,055 | 149,324 | 141,055 |
Accruals and deferred income | 454,381 | 762,864 |
2,983,414 | 3,427,252 |
The hire purchase liabilities are secured on the assets to which they relate. |
17. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
31.5.24 | 31.5.23 | 31.5.24 | 31.5.23 |
£ | £ | £ | £ |
Preference shares (see note 18) | 350,000 | 350,000 |
18. | LOANS |
An analysis of the maturity of loans is given below: |
Group | Company |
31.5.24 | 31.5.23 | 31.5.24 | 31.5.23 |
£ | £ | £ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Preference shares | 350,000 | 350,000 | 350,000 | 350,000 |
Details of shares shown as liabilities are as follows: |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
Preference shares | £1 | 350,000 | 350,000 |
The holder of the preference shares has the right to a fixed cumulative preferential dividend at the rate of 3.5% per year. There are no redemption rights or voting rights. |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
19. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Hire purchase contracts |
31.5.24 | 31.5.23 |
£ | £ |
Gross obligations repayable: |
Within one year | - | 45,951 |
Finance charges repayable: |
Within one year | - | 1,543 |
Net obligations repayable: |
Within one year | - | 44,408 |
Group |
Non-cancellable operating | leases |
31.5.24 | 31.5.23 |
£ | £ |
Within one year | 693,022 | 661,716 |
Between one and five years | - | 2,647 |
693,022 | 664,363 |
Company |
Non-cancellable operating | leases |
31.5.24 | 31.5.23 |
£ | £ |
Within one year |
20. | FINANCIAL INSTRUMENTS |
31.5.24 | 31.5.23 |
£ | £ |
Financial assets |
Financial assets that are debt instruments measured at amortised cost | 7,288,891 | 6,770,328 |
Financial liabilities |
Financial liabilities measured at amortised cost. | 2,388,452 | 3,162,901 |
Financial assets measured at amortised cost comprise cash at bank and in hand, trade debtors, other debtors and accrued income. |
Financial liabilities measured at amortised cost comprise banks loans & overdrafts, other loans, preference shares, trade creditors, other creditors and accruals. |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
21. | PROVISIONS FOR LIABILITIES |
Group | Company |
31.5.24 | 31.5.23 | 31.5.24 | 31.5.23 |
£ | £ | £ | £ |
Deferred tax |
Accelerated capital allowances | 1,400,041 | 1,283,507 |
Tax losses carried forward | (187,235 | ) | (192,672 | ) |
1,212,806 | 1,090,835 | 301,944 | 277,324 |
Group |
Deferred |
tax |
£ |
Balance at 1 June 2023 | 1,090,835 |
Charge to Statement of Comprehensive Income during year | 121,971 |
Balance at 31 May 2024 | 1,212,806 |
Company |
Deferred |
tax |
£ |
Balance at 1 June 2023 |
Charge to Statement of Comprehensive Income during year |
Balance at 31 May 2024 |
22. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
Ordinary | £1 | 433,840 | 433,840 |
23. | RESERVES |
Group |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 June 2023 | 17,165,930 | 600 | 17,166,530 |
Profit for the year | 638,860 | 638,860 |
Dividends | (265,000 | ) | (265,000 | ) |
At 31 May 2024 | 17,539,790 | 600 | 17,540,390 |
Stan Robinson Group Limited (Registered number: 01211657) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 May 2024 |
23. | RESERVES - continued |
Company |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 June 2023 | 10,293,359 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 May 2024 | 10,414,936 |
Retained earnings - includes all current and prior period retained profits and losses. |
Capital redemption reserve - this reserve records the nominal value of the shares repurchased by the company. |
24. | PENSION COMMITMENTS |
The group operates two defined contribution schemes. The assets of the schemes are held separately from those of the company in independently administered funds. |
The pension charge represents contributions payable by the group to the funds and amounted to £427,152 (2023 - £426,606). At 31 May 2024 there were outstanding contributions of £4,094 (2023 - £3,860) which are included in other creditors. |
25. | CONTINGENT LIABILITIES |
The company and its fellow subsidiary undertakings have registered for value added tax as a group and each company is jointly and severally liable for the liability of the company. At the year end the additional liability of the company was £768,388 (2023 - £575,964). |
26. | RELATED PARTY DISCLOSURES |
The group occupies property owned by the Stan Robinson Group Pension Scheme, a small self administered pension scheme for the benefit of all of the directors of Stan Robinson Group Limited. Rent of £664,125 (2023 - £634,268) was paid to the scheme during the year. The group's annual commitments of £690,375 (2023 - £655,375) under operating leases with the pension scheme are included in note 19. At 31 May 2024 other creditors includes an amount of £58,570 owing to Stan Robinson Group Pension Scheme (2023 - £nil). |
At 31 May 2024 creditors falling due within one year include balances with directors as follows: Mr MS Robinson £46,608 (2023 - £50,182) Mrs P Wilson £52,738 (2023 - £45,686) Mr IG Robinson £37,977(2023 - £32,936) and Mrs FE Robinson £12,000 (2023 £12,251). |
During the year Mr MS Robinson rented two pieces of land from the company for £4,800. The amount was outstanding in trade debtors at 31 May 2024. |
Further Mr MS Robinson purchased a vehicle from the group for its market value of £2,900 including VAT. |
27. | ULTIMATE CONTROLLING PARTY |
The company is not controlled by any one party. |