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Company No: 10767148 (England and Wales)

ROBSON SHAW LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

ROBSON SHAW LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

ROBSON SHAW LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
ROBSON SHAW LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTORS R E Shaw
S Shaw
REGISTERED OFFICE Stonemill House
Bridford
Exeter
EX6 7JD
United Kingdom
COMPANY NUMBER 10767148 (England and Wales)
ACCOUNTANT Old Mill Accountancy Limited
Leeward House
Fitzroy Road
Exeter Business Park
Exeter
Devon
EX1 3LJ
ROBSON SHAW LIMITED

BALANCE SHEET

As at 31 August 2024
ROBSON SHAW LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 36,852 25,446
Investment property 5 505,000 547,263
541,852 572,709
Current assets
Debtors 6 352,902 335,669
Cash at bank and in hand 21,538 26,368
374,440 362,037
Creditors: amounts falling due within one year 7 ( 117,869) ( 90,288)
Net current assets 256,571 271,749
Total assets less current liabilities 798,423 844,458
Provision for liabilities ( 1,650) ( 1,650)
Net assets 796,773 842,808
Capital and reserves
Called-up share capital 100 100
Profit and loss account 796,673 842,708
Total shareholders' funds 796,773 842,808

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Robson Shaw Limited (registered number: 10767148) were approved and authorised for issue by the Board of Directors on 21 January 2025. They were signed on its behalf by:

R E Shaw
Director
S Shaw
Director
ROBSON SHAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
ROBSON SHAW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Robson Shaw Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Stonemill House, Bridford, Exeter, EX6 7JD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 4 years straight line
Vehicles 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Intangible assets

Goodwill Other intangible assets Total
£ £ £
Cost
At 01 September 2023 75,000 1,169 76,169
Disposals ( 75,000) ( 1,169) ( 76,169)
At 31 August 2024 0 0 0
Accumulated amortisation
At 01 September 2023 75,000 1,169 76,169
Disposals ( 75,000) ( 1,169) ( 76,169)
At 31 August 2024 0 0 0
Net book value
At 31 August 2024 0 0 0
At 31 August 2023 0 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 September 2023 8,147 1,783 22,670 15,123 47,723
Additions 0 0 28,000 0 28,000
Disposals 0 0 ( 22,670) 0 ( 22,670)
At 31 August 2024 8,147 1,783 28,000 15,123 53,053
Accumulated depreciation
At 01 September 2023 163 1,783 10,044 10,287 22,277
Charge for the financial year 163 0 1,167 2,638 3,968
Disposals 0 0 ( 10,044) 0 ( 10,044)
At 31 August 2024 326 1,783 1,167 12,925 16,201
Net book value
At 31 August 2024 7,821 0 26,833 2,198 36,852
At 31 August 2023 7,984 0 12,626 4,836 25,446

5. Investment property

Investment property
£
Valuation
As at 01 September 2023 547,263
Additions 42,310
Fair value movement (84,573)
As at 31 August 2024 505,000

The 2024 valuations were made by the directors on an open market for existing use basis.

Valuation

Investment property comprises of three properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 31 August 2024 by the directors of the company. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 589,573 589,573

6. Debtors

2024 2023
£ £
Trade debtors 51,962 55,930
Amounts owed by directors 246,994 266,279
Prepayments and accrued income 18,076 12,537
S455 35,870 0
Deposits 0 850
Other debtors 0 73
352,902 335,669

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 733
Taxation and social security 117,869 89,555
117,869 90,288

8. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 6,420 1,305

9. Related party transactions

Transactions with the entity's directors

Advances

During the year a Director maintained a Director's Loan Account with the company. Advances of £82,794 (2023: £147,260) and repayments of £92,437 (2023: £116,115) were made on this loan. Interest is charged on the loan, when overdrawn, at the HMRC effective rate of interest, if exceeding a balance of £10,000. At the balance sheet date, the Director owed the company £123,497 (2023: £133,140). The loan is repayable on demand.

During the year a Director maintained a Director's Loan Account with the company. Advances of £82,794 (2023: £147,260) and repayments of £92,437 (2023: £116,115) were made on this loan. Interest is charged on the loan, when overdrawn, at the HMRC effective rate of interest, if exceeding a balance of £10,000. At the balance sheet date, the Director owed the company £123,497 (2023: £133,140). The loan is repayable on demand.

The total liability incurred under advances is £0, the total amount repaid are £0, the total amounts written-off are £0 and the total amounts waived are £0.