Company registration number 08057897 (England and Wales)
ROBINSON.PROJECT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
ROBINSON.PROJECT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ROBINSON.PROJECT LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,109
2,294
Investment property
4
1,700,000
1,673,000
1,702,109
1,675,294
Current assets
Cash at bank and in hand
8,858
145,708
Creditors: amounts falling due within one year
5
(585,138)
(752,811)
Net current liabilities
(576,280)
(607,103)
Total assets less current liabilities
1,125,829
1,068,191
Creditors: amounts falling due after more than one year
6
(149,316)
(160,481)
Provisions for liabilities
8
(175,521)
(128,266)
Net assets
800,992
779,444
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
800,892
779,344
Total equity
800,992
779,444
The notes on pages 3 to 5 form part of these financial statements.
ROBINSON.PROJECT LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 18 November 2024 and are signed on its behalf by:
Mr J K Robinson
Director
Company registration number 08057897 (England and Wales)
ROBINSON.PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
Robinson.project Limited is a private company limited by shares incorporated in England and Wales. The registered office is 18 Two Trees Close, Hopwas, Tamworth, Staffordshire, United Kingdom, B78 3BG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% Straight line
Computers
33% Straight Line
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.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Taxation for the year compromises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current and deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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 or other future taxable profits.
ROBINSON.PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
3,351
Additions
774
At 31 May 2024
4,125
Depreciation and impairment
At 1 June 2023
1,057
Depreciation charged in the year
959
At 31 May 2024
2,016
Carrying amount
At 31 May 2024
2,109
At 31 May 2023
2,294
4
Investment property
2024
£
Fair value
At 1 June 2023
1,673,000
Revaluations
27,000
At 31 May 2024
1,700,000
The investment properties have been valued by the directors as at 31 May 2024 on an open market basis.
ROBINSON.PROJECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,324
Corporation tax
10,037
20,365
Other creditors
575,101
727,122
585,138
752,811
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
149,316
160,481
7
Loans and overdrafts
2024
2023
£
£
Bank loans
149,316
165,805
Payable within one year
5,324
Payable after one year
149,316
160,481
The long-term loans are secured by fixed charges over the properties they relate to.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
175,521
128,266
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100