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REGISTRAR OF COMPANIES

Registration number: SC475879

A & A Robinson Limited

Unaudited Financial Statements

30 April 2024

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A & A Robinson Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A & A Robinson Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A & A Robinson Limited for the year ended 30 April 2024 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of A & A Robinson Limited, as a body, in accordance with the terms of our engagement letter dated 4 October 2022. Our work has been undertaken solely to prepare for your approval the accounts of A & A Robinson Limited and state those matters that we have agreed to state to the Board of Directors of A & A Robinson Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & A Robinson Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A & A Robinson Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A & A Robinson Limited. You consider that A & A Robinson Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of A & A Robinson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

27 January 2025

 

A & A Robinson Limited

(Registration number: SC475879)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,754

-

Tangible assets

5

1,462,212

1,167,969

 

1,463,966

1,167,969

Current assets

 

Stocks

379,600

299,590

Debtors

6

131,821

218,753

 

511,421

518,343

Creditors: Amounts falling due within one year

7

(561,582)

(400,263)

Net current (liabilities)/assets

 

(50,161)

118,080

Total assets less current liabilities

 

1,413,805

1,286,049

Creditors: Amounts falling due after more than one year

7

(398,278)

(471,073)

Provisions for liabilities

(231,814)

(178,750)

Net assets

 

783,713

636,226

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

783,613

636,126

Total equity

 

783,713

636,226

 

A & A Robinson Limited

(Registration number: SC475879)
Balance Sheet as at 30 April 2024 (continued)

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 

.........................................

A Robinson

Director

.........................................

A Sutherland

Director

 

A & A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Kirwaugh Farm
Wigtown
NEWTON STEWART
DG8 9AY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has net current liabilities at 30 April 2024 and meets its day to day working capital requirements through the directors who have provided financial support by way of short term loans. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its directors, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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 specific criteria have been met for each of the company's activities.

Government grants

Government grants such as the basic payment scheme are included in the profit and loss account when all the necessary conditions for receipt have been met.

 

A & A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)


Other grants
Other grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets on a basis consistent with the depreciation policy.

Basic payment scheme amortisation

The amount paid in connection with the purchase of the basic payment scheme entitlement is being amortised over the useful economic life of that entitlement. In addition, an annual impairment review is being performed.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% straight line

Plant and equipment

10% reducing balance

Motor vehicles

25% reducing balance

Furniture, fittings and office equipment

3 years straight line

Land and buildings relate to tenants improvements on land leased by the company from the directors. As the long term intention is for the farming operation to continue, it is deemed a true and fair view to depreciate the assets at 2% straight line over their useful economic life, and not the duration of the lease.

 

A & A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Trading stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. The cost of livestock represents the purchase cost plus any additional costs of rearing the animal. Net realisable value is based on selling price less anticipated selling costs. Crop stock is valued at fair value less any anticipated costs to sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

A & A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

A & A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Intangible assets

Basic payment scheme
 £

Total
£

Cost or valuation

Additions

1,830

1,830

At 30 April 2024

1,830

1,830

Amortisation

Amortisation charge

76

76

At 30 April 2024

76

76

Carrying amount

At 30 April 2024

1,754

1,754

5

Tangible assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 May 2023

491,369

1,227,294

58,801

1,582

1,779,046

Additions

81,403

312,230

-

-

393,633

Disposals

-

(2,680)

-

-

(2,680)

At 30 April 2024

572,772

1,536,844

58,801

1,582

2,169,999

Depreciation

At 1 May 2023

46,436

536,904

26,517

1,220

611,077

Charge for the year

9,831

80,093

8,071

362

98,357

Eliminated on disposal

-

(1,647)

-

-

(1,647)

At 30 April 2024

56,267

615,350

34,588

1,582

707,787

Carrying amount

At 30 April 2024

516,505

921,494

24,213

-

1,462,212

At 30 April 2023

444,933

690,390

32,284

362

1,167,969

 

A & A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Debtors

2024
£

2023
£

Trade debtors

125,653

108,064

Other debtors

6,168

110,689

131,821

218,753

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

504,632

301,986

Trade creditors

 

40,267

44,644

Taxation and social security

 

1,735

1,562

Corporation tax liability

 

8,423

39,106

Other creditors

 

6,525

12,965

 

561,582

400,263

Due after one year

 

Loans and borrowings

8

395,544

467,856

Other creditors

 

2,734

3,217

 

398,278

471,073

2024
£

2023
£

After more than five years by instalments

135,095

164,168

135,095

164,168

 

A & A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

43,050

49,144

Bank overdrafts

280,705

221,623

Finance lease liabilities

64,199

31,219

Other borrowings

116,678

-

504,632

301,986

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Bank borrowings

43,050

49,144

Bank overdrafts

280,705

221,623

Finance lease liabilities

64,199

31,219

387,954

301,986

Bank borrowings and overdrafts are secured by floating charges over the company's assets.

Finance lease liabilities are secured on the asset to which they relate.

 

A & A Robinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

280,441

421,068

Finance lease liabilities

115,103

46,788

395,544

467,856

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Bank borrowings

280,441

421,068

Finance lease liabilities

115,103

46,788

395,544

467,856

Bank borrowings are secured by a floating charge over the company's assets.

Finance lease liabilities are secured on the asset to which they relate.

9

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 30 April 2024
£

A Robinson

Loan

23,631

31,995

(55,891)

-

-

265

-

               
         

A Sutherland

Loan

82,813

23,633

(107,124)

-

-

678

-

               
         

 

2023

At 1 May 2022
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 30 April 2023
£

A Robinson

Loan

-

54,203

(27,650)

-

(3,000)

78

23,631

               
         

A Sutherland

Loan

-

111,725

(27,650)

-

(2,000)

738

82,813

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2% to 31 March 2023 and 2.25% thereafter on advances to directors.