IRIS Accounts Production v24.3.0.553 05709411 director 1.8.23 31.1.24 31.1.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057094112023-07-31057094112024-01-31057094112023-08-012024-01-31057094112022-07-31057094112022-08-012023-07-31057094112023-07-3105709411ns15:EnglandWales2023-08-012024-01-3105709411ns14:PoundSterling2023-08-012024-01-3105709411ns10:Director12023-08-012024-01-3105709411ns10:PrivateLimitedCompanyLtd2023-08-012024-01-3105709411ns10:SmallEntities2023-08-012024-01-3105709411ns10:AuditExempt-NoAccountantsReport2023-08-012024-01-3105709411ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-01-3105709411ns10:SmallCompaniesRegimeForAccounts2023-08-012024-01-3105709411ns10:FullAccounts2023-08-012024-01-310570941112023-08-012024-01-3105709411ns10:CompanySecretary12023-08-012024-01-3105709411ns10:RegisteredOffice2023-08-012024-01-3105709411ns5:CurrentFinancialInstruments2024-01-3105709411ns5:CurrentFinancialInstruments2023-07-3105709411ns5:Non-currentFinancialInstruments2024-01-3105709411ns5:Non-currentFinancialInstruments2023-07-3105709411ns5:ShareCapital2024-01-3105709411ns5:ShareCapital2023-07-3105709411ns5:RetainedEarningsAccumulatedLosses2024-01-3105709411ns5:RetainedEarningsAccumulatedLosses2023-07-3105709411ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-01-3105709411ns5:NetGoodwill2023-07-3105709411ns5:NetGoodwill2023-08-012024-01-3105709411ns5:NetGoodwill2024-01-3105709411ns5:NetGoodwill2023-07-3105709411ns5:LandBuildings2023-07-3105709411ns5:PlantMachinery2023-07-3105709411ns5:LandBuildings2023-08-012024-01-3105709411ns5:PlantMachinery2023-08-012024-01-3105709411ns5:LandBuildings2024-01-3105709411ns5:PlantMachinery2024-01-3105709411ns5:LandBuildings2023-07-3105709411ns5:PlantMachinery2023-07-3105709411ns5:CostValuation2023-07-3105709411ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3105709411ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3105709411ns5:FinanceLeasesns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3105709411ns5:FinanceLeasesns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3105709411ns5:FinanceLeasesns5:BetweenOneFiveYears2024-01-3105709411ns5:FinanceLeasesns5:BetweenOneFiveYears2023-07-3105709411ns5:FinanceLeases2024-01-3105709411ns5:FinanceLeases2023-07-3105709411ns5:WithinOneYear2024-01-3105709411ns5:WithinOneYear2023-07-3105709411ns5:BetweenOneFiveYears2024-01-3105709411ns5:BetweenOneFiveYears2023-07-3105709411ns5:AllPeriods2024-01-3105709411ns5:AllPeriods2023-07-3105709411ns5:Secured2024-01-3105709411ns5:Secured2023-07-31057094111ns10:Director12023-07-31057094111ns10:Director12022-07-31057094111ns10:Director12023-08-012024-01-31057094111ns10:Director12022-08-012023-07-31057094111ns10:Director12024-01-31057094111ns10:Director12023-07-31
REGISTERED NUMBER: 05709411 (England and Wales)












Unaudited Financial Statements

for the Period

1 August 2023 to 31 January 2024

for

Robert and Roberts Limited

Robert and Roberts Limited (Registered number: 05709411)






Contents of the Financial Statements
for the Period 1 August 2023 to 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Robert and Roberts Limited

Company Information
for the Period 1 August 2023 to 31 January 2024







DIRECTOR: Mr R M Pitt





SECRETARY: Mrs G K Pitt





REGISTERED OFFICE: Neville Pharmacy
6 Neville Parade
Newton Aycliffe
Co. Durham
DL5 5DH





REGISTERED NUMBER: 05709411 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Robert and Roberts Limited (Registered number: 05709411)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 80,082 95,582
Tangible assets 6 146,457 161,718
Investments 7 50 50
226,589 257,350

CURRENT ASSETS
Stocks 92,743 92,743
Debtors 8 1,214,285 1,535,609
Cash at bank and in hand 13,903 35,383
1,320,931 1,663,735
CREDITORS
Amounts falling due within one year 9 (712,195 ) (1,042,899 )
NET CURRENT ASSETS 608,736 620,836
TOTAL ASSETS LESS CURRENT
LIABILITIES

835,325

878,186

CREDITORS
Amounts falling due after more than one
year

10

(873,516

)

(928,642

)

PROVISIONS FOR LIABILITIES (18,826 ) (27,407 )
NET LIABILITIES (57,017 ) (77,863 )

CAPITAL AND RESERVES
Called up share capital 1 1
Profit and loss account (57,018 ) (77,864 )
SHAREHOLDERS' FUNDS (57,017 ) (77,863 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





Mr R M Pitt - Director


Robert and Roberts Limited (Registered number: 05709411)

Notes to the Financial Statements
for the Period 1 August 2023 to 31 January 2024

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The company has shortened the accounting period for tax planning purposes and these financial statements cover the six months to 31 January 2024. As a result the comparative figures presented are not entirely comparable.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from the sale of pharmaceutical goods, stated net of discounts and of value added tax.

The company recognises revenue at the point of sale when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Intangible fixed assets
Intangible fixed assets are stated at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged so as to allocate the cost of intangible assets less their residual values over their useful economic life, using the straight line method.

The intangible assets are amortised over the following useful economic lives:


Goodwill
- 20 years and 10
years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings- 10% on cost
Plant and machinery etc- 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit and loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase.


Robert and Roberts Limited (Registered number: 05709411)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

3. ACCOUNTING POLICIES - continued
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Leasing
Tangible fixed assets acquired under finance leases are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net future finance charges, are included in creditors.

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

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Financial instruments
The company only enters into basic financial instrument 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, loans to related parties and investments on non-puttable ordinary shares.

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 profit or loss.

Fixed asset investments
Investments in unlisted subsidiary undertakings are accounted for at cost less impairment in the individual financial statements. Dividend is recognised in the profit and loss account when the right to receive payment is established.

Other investments are accounted for at fair market value.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 23 (2023 - 23 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 January 2024 619,998
AMORTISATION
At 1 August 2023 524,416
Charge for period 15,500
At 31 January 2024 539,916
NET BOOK VALUE
At 31 January 2024 80,082
At 31 July 2023 95,582

Robert and Roberts Limited (Registered number: 05709411)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 6,036 441,894 447,930
Additions - 2,347 2,347
At 31 January 2024 6,036 444,241 450,277
DEPRECIATION
At 1 August 2023 6,034 280,178 286,212
Charge for period - 17,608 17,608
At 31 January 2024 6,034 297,786 303,820
NET BOOK VALUE
At 31 January 2024 2 146,455 146,457
At 31 July 2023 2 161,716 161,718


7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2023
and 31 January 2024 50
NET BOOK VALUE
At 31 January 2024 50
At 31 July 2023 50

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 345,244 324,393
Amounts owed by group undertakings 457,730 458,725
Other debtors 411,311 752,491
1,214,285 1,535,609

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 159,300 339,300
Finance leases (see note 11) 30,897 30,897
Trade creditors 398,429 426,522
Amounts owed to group undertakings 34,209 14,209
Taxation and social security 78,303 213,501
Other creditors 11,057 18,470
712,195 1,042,899

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 799,585 842,386
Finance leases (see note 11) 73,931 86,256
873,516 928,642

Robert and Roberts Limited (Registered number: 05709411)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans 468,218 506,019

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 30,897 30,897
Between one and five years 73,931 86,256
104,828 117,153

Non-cancellable operating leases
2024 2023
£    £   
Within one year 9,957 9,957
Between one and five years 19,914 24,893
29,871 34,850

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 958,885 1,181,686
Finance leases 104,828 117,153
1,063,713 1,298,839

The bank loans are secured against a fixed and floating charge over all the property or undertaking of the company.

The finance lease creditor is secured against the assets to which they relate and have a carrying value of £87,675 (2023 - £100,200).

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 January 2024 and the year ended 31 July 2023:

2024 2023
£    £   
Mr R M Pitt
Balance outstanding at start of period 495,188 328,485
Amounts advanced 204,106 186,003
Amounts repaid (505,000 ) (19,300 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 194,294 495,188

This loan attracts interest at 2% and is repayable on demand and unsecured.