ROBOSAVVY LIMITED
Director: Mrs D. De Roos
Miss M. N. Schweitzer
Secretary: Mr L. Schweitzer
Registered Office: 5.2 Central House
1 Ballards Lane
N3 1LQ
Registered No: 05239169
Financial statements
for the year ended 31 December 2023
Page
Statement of financial position 1
Notes to the financial statements 2-4
ROBOSAVVY LIMITED
Statement of financial position as at 31 December 2023
Notes 31.12.2023 31.12.2022
£ £ £
Current assets
Cash at bank and in hand 57,770 57,138
Inventory 4 69,468 86,867
Debtors 5 129,956 39,750
257,194 183,755
Creditors:- Amounts falling due
within one year 6 (118,155) (51,629)
Net current assets 139,039 132,126
Total assets £ 139,039 £ 132,126
Capital and deficit
Called up share capital 7 1 1
Profit and loss account 139,038 132,125
Shareholders' fund £ 139,039 £ 132,126
For the year ending 31 December 2023 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 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
The financial statements have been prepared in accordance with special provision of Part 15 of the Companies Act 2006 relating to small companies and with the provisions of FRS 102 Section 1A Small Entities.
____________________
D. De Roos
Director
Company number: 05239169 21 January 2025
ROBOSAVVY LIMITED
Notes to the financial statements - 31 December 2023
COMPANY INFORMATION
1. Company Information
Robosavvy Limited is a private limited company incorporated and domiciled in the England & Wales. The address of its registered office is 5.2 Central House, 1 Ballards Lane, N3 1LQ.
2. Accounting Policies
2.1 Basis of accounting
The financial statements have been prepared on a going concern basis, under historical cost convention.
The financial statements are presented in sterling (£).
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2.2 Financial instruments
The company has chosen to adapt the sections 11 & 12 of FRS 102 in respect of financial instruments:
(i) Financial assets
Basic financial assets including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at present value of the future receipts discounted at the market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method and are assess for objective evidence of impairment at the end of each reporting period.
(ii) Financial liabilities
Basic financial liabilities including trade and other payable are initially recognised at transaction price unless arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market value of interest debt instruments are subsequently carried at amortised costs using the effective interest rate method.
2.3 Going concern
The company is profitable and expects to be profitable in the future. The company also has net current asset position. In the period of 12 months from the date of the financial statements, the company has positive cash flow.
Taking the above into account the directors are of the opinion that the financial statements can be prepared on a going concern basis.
2.4 Turnover
Turnover represents net invoiced value of goods and services excluding VAT.
ROBOSAVVY LIMITED
Notes to the financial statements - 31 December 2023
2. Accounting Policies (continued)
2.5 Revenue recognition
Revenue comprises the fair value of the consideration received or receivable for the sale of goods and services in the ordinary course of the company’s activities. Revenue is shown net of 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 the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the sale of goods is recognised when all the significant risks and rewards of ownership of the goods have passed to the buyer and the seller no longer retains continual managerial involvement. The delivery date is usually the date on which ownership passes.
2.6 Inventory
Inventory is valued at the lower of cost and net resalable value, after making due allowances for damaged and slow moving stock. Inventory includes all direct expenses that incurred on the stock up to the arrival at the warehouse.
2.7 Debtors
Short term debtors that includes trade and other receivables are measured at transaction price, less any impairment.
2.8 Creditors
Basic financial liabilities including trade and other payable are measured at transaction price.
2.9 Current & deferred taxation
Deferred taxation is provided using the liability method to take into account timing from the inclusion of items of expenditure in taxation computations in periods that differ from those differences arising in which they are included in the financial statements to the extent that it is probably that an or assets will crystallize in the future.
Provision for deferred taxation is set off against debit balance of deferred taxation.
The current income tax charged is calculated on the basis of the tax rate and laws that have been enacted or substantially enacted by the reporting date in the countries where the company operated and generates income.
3. Employees
2023 2022
No of employees during the year 0 0
ROBOSAVVY LIMITED
Notes to the financial statements - 31 December 2023
4. Inventory 31.12.2023 31.12.2022
£ £
Finished goods 69,468 86,867
69,468 86,867
5. Debtors 31.12.2023 31.12.2022
£ £
Trade debtors 45,754 27,665
Director's Account 1,241 0
Other debtors 82,961 12,085
129,956 39,750
6. Creditors: Amounts falling due within one year
31.12.2023 31.12.2022
£ £
Trade Creditors 10,503 32,592
Director's Account 0 5,385
Corporation tax 1,622 3,988
VAT 12,581 3,230
Other Creditors 91,449 963
Accruals 2,000 5,471
118,155 51,629
7. Share Capital
31.12.2023 31.12.2022
£ £
Called up and fully
paid: 1 Ordinary Share of £1 each 1 1
8. Related party transactions
During the year, there were no transactions between the company and the director.
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