Silverfin false false 31/03/2024 01/04/2023 31/03/2024 R I Senior 07/12/2010 A K Senior 31/03/2011 28 October 2024 The principal activity of Robanna Limited is that of providing property consultancy services through its membership of Hanover Green LLP. 07462463 2024-03-31 07462463 bus:Director1 2024-03-31 07462463 bus:Director2 2024-03-31 07462463 2023-03-31 07462463 core:CurrentFinancialInstruments 2024-03-31 07462463 core:CurrentFinancialInstruments 2023-03-31 07462463 core:ShareCapital 2024-03-31 07462463 core:ShareCapital 2023-03-31 07462463 core:RevaluationReserve 2024-03-31 07462463 core:RevaluationReserve 2023-03-31 07462463 core:RetainedEarningsAccumulatedLosses 2024-03-31 07462463 core:RetainedEarningsAccumulatedLosses 2023-03-31 07462463 core:Vehicles 2023-03-31 07462463 core:FurnitureFittings 2023-03-31 07462463 core:ComputerEquipment 2023-03-31 07462463 core:Vehicles 2024-03-31 07462463 core:FurnitureFittings 2024-03-31 07462463 core:ComputerEquipment 2024-03-31 07462463 core:CostValuation 2023-03-31 07462463 core:AdditionsToInvestments 2024-03-31 07462463 core:DisposalsRepaymentsInvestments 2024-03-31 07462463 core:CostValuation 2024-03-31 07462463 2022-03-31 07462463 core:RevaluationInvestmentPropertyDeferredTax 2024-03-31 07462463 core:RevaluationInvestmentPropertyDeferredTax 2023-03-31 07462463 core:FurtherSpecificItem1DeferredTaxComponentTotalForDeferredTax 2024-03-31 07462463 core:FurtherSpecificItem1DeferredTaxComponentTotalForDeferredTax 2023-03-31 07462463 bus:OrdinaryShareClass1 2024-03-31 07462463 2023-04-01 2024-03-31 07462463 bus:FilletedAccounts 2023-04-01 2024-03-31 07462463 bus:SmallEntities 2023-04-01 2024-03-31 07462463 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07462463 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07462463 bus:Director1 2023-04-01 2024-03-31 07462463 bus:Director2 2023-04-01 2024-03-31 07462463 core:Vehicles 2023-04-01 2024-03-31 07462463 core:FurnitureFittings core:TopRangeValue 2023-04-01 2024-03-31 07462463 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-03-31 07462463 2022-04-01 2023-03-31 07462463 core:FurnitureFittings 2023-04-01 2024-03-31 07462463 core:ComputerEquipment 2023-04-01 2024-03-31 07462463 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07462463 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07462463 (England and Wales)

ROBANNA LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ROBANNA LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ROBANNA LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
ROBANNA LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 52,788 574
Investment property 4 420,000 420,000
Investments 5 432,114 267,294
904,902 687,868
Current assets
Debtors 308,191 263,413
Cash at bank and in hand 950,804 1,110,864
1,258,995 1,374,277
Creditors: amounts falling due within one year ( 57,198) ( 55,324)
Net current assets 1,201,797 1,318,953
Total assets less current liabilities 2,106,699 2,006,821
Provision for liabilities 6 ( 15,234) ( 14,434)
Net assets 2,091,465 1,992,387
Capital and reserves
Called-up share capital 7 100 100
Revaluation reserve 49,876 43,303
Profit and loss account 2,041,489 1,948,984
Total shareholders' funds 2,091,465 1,992,387

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Robanna Limited (registered number: 07462463) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R I Senior
Director

28 October 2024

ROBANNA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ROBANNA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Robanna Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sackville House, 40 Piccadilly, London, W1J 0DR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises of revenue recognised by the Company in respect of profits allocated by the Limited Liability Partnership of which it is a member.

Profits are recognised only when they have been irrevocably allocated by the management of the LLP of which the Company is a member.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

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

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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.

Pensions

The Company makes payments into employee personal pension schemes. The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 2

3. Tangible assets

Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 0 675 3,045 3,720
Additions 61,603 0 0 61,603
At 31 March 2024 61,603 675 3,045 65,323
Accumulated depreciation
At 01 April 2023 0 281 2,865 3,146
Charge for the financial year 8,984 225 180 9,389
At 31 March 2024 8,984 506 3,045 12,535
Net book value
At 31 March 2024 52,619 169 0 52,788
At 31 March 2023 0 394 180 574

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 420,000
As at 31 March 2024 420,000

5. Fixed asset investments

Listed investments Investments in associates Total
£ £ £
Cost or valuation before impairment
At 01 April 2023 267,154 140 267,294
Additions 164,825 0 164,825
Disposals 0 ( 5) ( 5)
At 31 March 2024 431,979 135 432,114
Carrying value at 31 March 2024 431,979 135 432,114
Carrying value at 31 March 2023 267,154 140 267,294

6. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 14,434) ( 17,322)
(Charged)/credited to the Profit and Loss Account ( 800) 2,888
At the end of financial year ( 15,234) ( 14,434)

The deferred taxation balance is made up as follows:

2024 2023
£ £
Revaluation of investment property ( 4,297) ( 4,297)
Revaluation of listed investments ( 10,937) ( 10,137)
( 15,234) ( 14,434)

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Included within other debtors is a balance of £297,534 (2023: £259,561) due from the limited liability partnership of which the Company is a member. The entire turnover is the company's share of profit from this LLP.