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Company No: 05082820 (England and Wales)

ROBIN CHAPMAN LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ROBIN CHAPMAN LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ROBIN CHAPMAN LIMITED

BALANCE SHEET

As at 30 April 2024
ROBIN CHAPMAN LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 1,375
Tangible assets 4 781,925 742,922
781,925 744,297
Current assets
Debtors 5 1,027,221 682,548
Cash at bank and in hand 276,813 325,527
1,304,034 1,008,075
Creditors: amounts falling due within one year 6 ( 516,695) ( 500,510)
Net current assets 787,339 507,565
Total assets less current liabilities 1,569,264 1,251,862
Creditors: amounts falling due after more than one year 7 ( 84,653) ( 34,807)
Provision for liabilities 8 ( 188,275) ( 155,039)
Net assets 1,296,336 1,062,016
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,296,236 1,061,916
Total shareholder's funds 1,296,336 1,062,016

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.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Robin Chapman Limited (registered number: 05082820) were approved and authorised for issue by the Director on 23 January 2025. They were signed on its behalf by:

R F S Chapman
Director
ROBIN CHAPMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ROBIN CHAPMAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Robin Chapman 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 Compton Place Compton Place, Church Hill, Stalbridge, DT10 2LS, 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 recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account 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. Tax is recognised in the profit and loss account, 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.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

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 8 years straight line
Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

The expected remaining useful economic life of the goodwill was reassessed on 1 May 2016. The net book value at that date is being written off on a straight line basis over 8 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than land and properties under construction, 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 10 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 3 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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 13 12

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 27,500 27,500
At 30 April 2024 27,500 27,500
Accumulated amortisation
At 01 May 2023 26,125 26,125
Charge for the financial year 1,375 1,375
At 30 April 2024 27,500 27,500
Net book value
At 30 April 2024 0 0
At 30 April 2023 1,375 1,375

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 May 2023 194,582 915,554 348,642 11,596 1,470,374
Additions 0 358,008 83,630 382 442,020
Disposals ( 91,056) ( 211,962) ( 82,687) 0 ( 385,705)
At 30 April 2024 103,526 1,061,600 349,585 11,978 1,526,689
Accumulated depreciation
At 01 May 2023 64,049 495,128 156,679 11,596 727,452
Charge for the financial year 12,958 135,744 55,943 106 204,751
Disposals ( 8,143) ( 131,639) ( 47,657) 0 ( 187,439)
At 30 April 2024 68,864 499,233 164,965 11,702 744,764
Net book value
At 30 April 2024 34,662 562,367 184,620 276 781,925
At 30 April 2023 130,533 420,426 191,963 0 742,922

5. Debtors

2024 2023
£ £
Trade debtors 364,307 638,749
Amounts owed by Parent undertakings 601,502 0
Other debtors 61,412 43,799
1,027,221 682,548

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 272,415 225,705
Amounts owed to Group undertakings 0 65,604
Taxation and social security 88,522 128,005
Obligations under finance leases and hire purchase contracts (secured) 69,576 22,936
Other creditors 86,182 58,260
516,695 500,510

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 84,653 34,807

Obligations under finance leases and hire purchase contracts are secured against the assets concerned, which are included within tangible fixed assets. At the balance sheet date the asset concerned had net book value of £186,477 (2023 - £77,302).

8. Provision for liabilities

2024 2023
£ £
Deferred tax 188,275 155,039

9. Ultimate controlling party

The company's immediate parent is Robin Chapman (Holdings) Limited, incorporated in England and Wales. Its registered office address is Compton Place, Church Hill, Stalbridge, Dorset, DT10 2LS.

These financial statements are available upon request from Companies House, Cardiff.