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Registration number: NI601985

Robinson's Of Ballymena Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Robinson's Of Ballymena Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 11

 

Robinson's Of Ballymena Ltd

(Registration number: NI601985)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

266,544

266,544

Tangible assets

5

408,638

361,561

Other financial assets

6

2,833

1,400

 

678,015

629,505

Current assets

 

Stocks

7

324,708

271,423

Debtors

8

715,089

843,758

Cash at bank and in hand

 

407,378

191,860

 

1,447,175

1,307,041

Creditors: Amounts falling due within one year

9

(685,422)

(654,357)

Net current assets

 

761,753

652,684

Total assets less current liabilities

 

1,439,768

1,282,189

Creditors: Amounts falling due after more than one year

9

(82,662)

(109,316)

Provisions for liabilities

(82,530)

(69,971)

Net assets

 

1,274,576

1,102,902

Capital and reserves

 

Called up share capital

10

1,000

1,000

Retained earnings

1,273,576

1,101,902

Shareholders' funds

 

1,274,576

1,102,902

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 November 2024 and signed on its behalf by:
 

 

Robinson's Of Ballymena Ltd

(Registration number: NI601985)
Balance Sheet as at 30 April 2024

.........................................
Mr F Robinson
Company secretary and director

 

Robinson's Of Ballymena Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
207 Cullybackey Road
Ballymena
Co Antrim
BT43 5JH

These financial statements were authorised for issue by the Board on 4 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Robinson's Of Ballymena Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Robinson's Of Ballymena Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Asset class

Depreciation method and rate

Plant and machinery

various methods & rates

Motor vehicles

17.5%-25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Robinson's Of Ballymena Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Robinson's Of Ballymena Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 79 (2023 - 44).

 

Robinson's Of Ballymena Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Drinks licence
 £

Total
£

Cost or valuation

At 1 May 2023

1,600,000

266,544

1,866,544

At 30 April 2024

1,600,000

266,544

1,866,544

Amortisation

At 1 May 2023

1,600,000

-

1,600,000

At 30 April 2024

1,600,000

-

1,600,000

Carrying amount

At 30 April 2024

-

266,544

266,544

At 30 April 2023

-

266,544

266,544

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

29,073

314,529

766,585

1,110,187

Additions

-

-

188,848

188,848

Disposals

-

(88,745)

-

(88,745)

At 30 April 2024

29,073

225,784

955,433

1,210,290

Depreciation

At 1 May 2023

-

81,096

667,530

748,626

Charge for the year

-

46,337

47,588

93,925

Eliminated on disposal

-

(40,899)

-

(40,899)

At 30 April 2024

-

86,534

715,118

801,652

Carrying amount

At 30 April 2024

29,073

139,250

240,315

408,638

At 30 April 2023

29,073

233,433

99,055

361,561

Included within the net book value of land and buildings above is £29,073 (2023 - £29,073) in respect of freehold land and buildings.
 

 

Robinson's Of Ballymena Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 May 2023

1,400

1,400

Additions

1,433

1,433

At 30 April 2024

2,833

2,833

Impairment

Carrying amount

At 30 April 2024

2,833

2,833

7

Stocks

2024
£

2023
£

Other inventories

324,708

271,423

8

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

50,975

135,055

Amounts owed by related parties

12

588,000

588,000

Prepayments

 

76,114

74,096

Other debtors

 

-

46,607

   

715,089

843,758

 

Robinson's Of Ballymena Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

16,987

26,987

Trade creditors

 

597,491

543,577

Taxation and social security

 

34,211

52,880

Accruals and deferred income

 

7,489

7,228

Other creditors

 

29,244

23,685

 

685,422

654,357

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £16,987 (2023 - £26,987).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

82,662

109,316

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £82,662 (2023- £109,316).

 

Robinson's Of Ballymena Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

82,662

109,316

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

16,987

26,987

12

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

72,826

100,320

Contributions paid to money purchase schemes

1,366

1,225

74,192

101,545

Summary of transactions with parent

Brocklamont Holdings Ltd owns 100% of Robinson's of Ballymena Ltd who both have taken advantage of the exemption in FRS102 not to disclose transactions or balances with wholly owned subsidiaries.
 

13

Parent and ultimate parent undertaking

The company's immediate parent is Brocklamont Holdings Ltd, registered address 207 Cullybackey Road, Ballymena, Co Antrim, BT43 5JH incorporated in Northern Ireland.

 The ultimate controlling party is the Robinson Family .