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COMPANY REGISTRATION NUMBER: 04906341
Richard Roberts International Limited
Filleted Unaudited Abridged Financial Statements
29 February 2024
Richard Roberts International Limited
Abridged Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,293
Current assets
Debtors
64,997
433,717
Cash at bank and in hand
1,897
4,153
---------
----------
66,894
437,870
Creditors: amounts falling due within one year
667,208
593,039
----------
----------
Net current liabilities
600,314
155,169
----------
----------
Total assets less current liabilities
( 599,021)
( 155,169)
Creditors: amounts falling due after more than one year
7
1,573,852
1,552,477
-------------
-------------
Net liabilities
( 2,172,873)
( 1,707,646)
-------------
-------------
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss account
( 2,222,873)
( 1,757,646)
-------------
-------------
Shareholders deficit
( 2,172,873)
( 1,707,646)
-------------
-------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Richard Roberts International Limited
Abridged Statement of Financial Position (continued)
29 February 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 5 November 2024 , and are signed on behalf of the board by:
Mr D A Bryars
Director
Company registration number: 04906341
Richard Roberts International Limited
Notes to the Abridged Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
£
Cost
At 1 March 2023
1,848
Additions
1,790
-------
At 29 February 2024
3,638
-------
Depreciation
At 1 March 2023
1,848
Charge for the year
497
-------
At 29 February 2024
2,345
-------
Carrying amount
At 29 February 2024
1,293
-------
At 28 February 2023
-------
6. Creditors: Amounts falling due within one year
Included in creditors due within one year is a bank loan of £164,550 (2023: £164,550) which is secured by Barclays Bank plc. Included in creditors due within one year is £234,407 (2023: £221,730) which is secured by Richard Roberts International Executive Pension Scheme.
7. Creditors: amounts falling due after more than one year
Included creditors due after more than one year is £1,563,911(2023:£1,552,483) which is secured by Seaton Investments Limited.
8. Going concern
The company made a loss of £465,227 (2023:loss £156,613) for the accounting period and the current liabilities exceed current assets by £597,728 (2023: £155,169). At the balance sheet date current liabilities include a directors loan account and other related creditors amounting to £490,401 which, although repayable on demand, the director has confirmed that repayment will not be requested in the forseeable future to ensure the company can meet it's ongoing current financial obligations in full. The director therefore considers that the financial statements have been appropriately prepared on a going concern basis.
Seaton Investments Limited is willing to continue to support the company financially for the foreseeable future.
Mr D A Bryars has also confirmed that he will continue to support the company for the foreseeable future.
The company expects to be profitable for the foreseeable future.
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr D A Bryars
( 352,465)
407,875
( 2,856)
52,554
----------
----------
-------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr D A Bryars
49,647
131,870
( 533,982)
( 352,465)
---------
----------
----------
----------
10. Related party transactions
The company received an interest free loan from a related party. At 28 February 2024 the amount outstanding was £1,563,911 (2023: £1,547,788). The company provided an interest free loan to a related party. At 28 February 2024 the amount outstanding was £62,500 (2023: £72,500).