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Registered number: 10624745









ROBARA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
ROBARA LIMITED
REGISTERED NUMBER: 10624745

BALANCE SHEET
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Investment property
 4 
5,042,000
5,042,000

  
5,042,000
5,042,000

Debtors: amounts falling due within one year
 5 
13,195
154,429

Cash at bank and in hand
  
10,787
79

  
23,982
154,508

Creditors: amounts falling due within one year
 6 
(123,076)
(307,896)

NET CURRENT LIABILITIES
  
 
 
(99,094)
 
 
(153,388)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
4,942,906
4,888,612

Creditors: amounts falling due after more than one year
 7 
(4,729,997)
(4,729,997)

  

NET ASSETS
  
212,909
158,615


CAPITAL AND RESERVES
  

Called up share capital 
  
3
3

Profit and loss account
  
212,906
158,612

  
212,909
158,615


Page 1

 
ROBARA LIMITED
REGISTERED NUMBER: 10624745
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C R J Carter
Director
Date: 6 November 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
ROBARA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


GENERAL INFORMATION

Robara Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA.
The Company's functional and presentational currency is GBP

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

REVENUE

Turnover comprises rental revenue recognised by the Company during the year.

 
2.3

TAXATION

Tax is recognised in profit or loss 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 balance sheet date in the countries where the Company operates and generates income.

 
2.4

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

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.

 
2.6

CASH AND 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.

Page 3

 
ROBARA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

FIRST TIME ADOPTION OF FRS 102

The Company transitioned to FRS 102 from FRS 105 from 1 March 2023. The impact of the transition to FRS 102 did not require any accounting adjustments.

 
2.8

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.


3.


EMPLOYEES




The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


INVESTMENT PROPERTY





Freehold investment property

£



VALUATION


At 1 March 2023
5,042,000



AT 29 FEBRUARY 2024
5,042,000

The 2024 valuations were made by the directors, on an open market value for existing use basis, based on professional advice received.




5.


DEBTORS

29 February
28 February
2024
2023
£
£


Other debtors
-
154,185

Prepayments and accrued income
13,195
244

13,195
154,429


Page 4

 
ROBARA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29 February
28 February
2024
2023
£
£

Other loans
68,682
300,000

Trade creditors
9,420
-

Corporation tax
15,213
2,796

Other creditors
20,000
-

Accruals and deferred income
9,761
5,100

123,076
307,896



7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29 February
28 February
2024
2023
£
£

Other creditors
4,729,997
4,729,997


Other creditors is made up of shareholder loans that do not fall due until two or more payees demand notice be given. Until such an event no interest shall be charged. There is currently no such intention for the shareholders to demand payment and so the loans have been treated as a non-current liability.

Page 5