RBT Ltd 04882427 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is the transport of caravans by road Digita Accounts Production Advanced 6.30.9574.0 true true 04882427 2023-09-01 2024-08-31 04882427 2024-08-31 04882427 core:RetainedEarningsAccumulatedLosses 2024-08-31 04882427 core:RevaluationReserve 2024-08-31 04882427 core:ShareCapital 2024-08-31 04882427 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-08-31 04882427 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-08-31 04882427 core:CurrentFinancialInstruments 2024-08-31 04882427 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 04882427 core:Non-currentFinancialInstruments 2024-08-31 04882427 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 04882427 core:Goodwill 2024-08-31 04882427 core:FurnitureFittingsToolsEquipment 2024-08-31 04882427 core:LandBuildings 2024-08-31 04882427 core:MotorVehicles 2024-08-31 04882427 1 2024-08-31 04882427 bus:SmallEntities 2023-09-01 2024-08-31 04882427 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04882427 bus:FilletedAccounts 2023-09-01 2024-08-31 04882427 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04882427 bus:RegisteredOffice 2023-09-01 2024-08-31 04882427 bus:Director1 2023-09-01 2024-08-31 04882427 bus:Director2 2023-09-01 2024-08-31 04882427 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04882427 core:Goodwill 2023-09-01 2024-08-31 04882427 core:FurnitureFittings 2023-09-01 2024-08-31 04882427 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 04882427 core:LandBuildings 2023-09-01 2024-08-31 04882427 core:MotorVehicles 2023-09-01 2024-08-31 04882427 core:OfficeEquipment 2023-09-01 2024-08-31 04882427 core:PlantMachinery 2023-09-01 2024-08-31 04882427 countries:AllCountries 2023-09-01 2024-08-31 04882427 1 2023-09-01 2024-08-31 04882427 2023-08-31 04882427 core:Goodwill 2023-08-31 04882427 core:FurnitureFittingsToolsEquipment 2023-08-31 04882427 core:LandBuildings 2023-08-31 04882427 core:MotorVehicles 2023-08-31 04882427 1 2023-08-31 04882427 2022-09-01 2023-08-31 04882427 2023-08-31 04882427 core:RetainedEarningsAccumulatedLosses 2023-08-31 04882427 core:RevaluationReserve 2023-08-31 04882427 core:ShareCapital 2023-08-31 04882427 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-31 04882427 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-08-31 04882427 core:CurrentFinancialInstruments 2023-08-31 04882427 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04882427 core:Non-currentFinancialInstruments 2023-08-31 04882427 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04882427 core:FurnitureFittingsToolsEquipment 2023-08-31 04882427 core:LandBuildings 2023-08-31 04882427 core:MotorVehicles 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 04882427

RBT Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

RBT Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

RBT Ltd

Company Information

Directors

G E Braithwaite

K Braithwaite

Registered office

Prairie Farm
Common Road
South Cave
Brough
HU15 2EA

 

RBT Ltd

(Registration number: 04882427)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,681,264

1,622,283

Current assets

 

Debtors

6

239,125

196,998

Cash at bank and in hand

 

156,383

142,663

 

395,508

339,661

Creditors: Amounts falling due within one year

7

(328,068)

(297,658)

Net current assets

 

67,440

42,003

Total assets less current liabilities

 

1,748,704

1,664,286

Creditors: Amounts falling due after more than one year

7

(384,203)

(400,462)

Provisions for liabilities

(102,715)

(75,337)

Net assets

 

1,261,786

1,188,487

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

554,981

554,981

Retained earnings

706,705

633,406

Shareholders' funds

 

1,261,786

1,188,487

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 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:
 

.........................................
G E Braithwaite
Director

.........................................
K Braithwaite
Director

 
     
 

RBT Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 04882427.

The address of its registered office is:
Prairie Farm
Common Road
South Cave
Brough
HU15 2EA

These financial statements were authorised for issue by the Board on 27 January 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of transport 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.

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.

 

RBT Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

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

No depreciation

Plant and machinery

10% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

20% reducing balance

Office equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Fully amortised

 

RBT Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for transport services provided in the ordinary course of business.

Trade debtors are recognised initially at the transaction price less any bad debts. A provision for the bad debts 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

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.

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

RBT Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 11 (2023 - 12).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

60,000

60,000

At 31 August 2024

60,000

60,000

Amortisation

At 1 September 2023

60,000

60,000

At 31 August 2024

60,000

60,000

Carrying amount

At 31 August 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

1,270,406

86,421

586,493

1,943,320

Additions

-

7,226

136,850

144,076

At 31 August 2024

1,270,406

93,647

723,343

2,087,396

Depreciation

At 1 September 2023

-

34,645

286,392

321,037

Charge for the year

-

7,968

77,127

85,095

At 31 August 2024

-

42,613

363,519

406,132

Carrying amount

At 31 August 2024

1,270,406

51,034

359,824

1,681,264

At 31 August 2023

1,270,406

51,776

300,101

1,622,283

 

RBT Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Revaluation

The fair value of the Company's Land and buildings was revalued on 31 August 2022 by an independent valuer . The name and qualification of the independent valuer are Garness Jones, who are acting in accordance with RICS Valuation Global Standards.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £715,425 (2023 - £715,425).

6

Debtors

2024
£

2023
£

Trade debtors

143,853

126,115

Other debtors

85,595

63,525

Prepayments

9,677

7,358

239,125

196,998

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

153,007

151,413

Trade creditors

 

24,687

20,980

Taxation and social security

 

135,605

107,034

Accruals and deferred income

 

9,886

11,173

Other creditors

 

4,883

7,058

 

328,068

297,658

 

RBT Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

51,954

53,636

Hire purchase contracts

76,053

73,777

Other borrowings

25,000

24,000

153,007

151,413

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

189,874

230,129

Hire purchase contracts

194,329

145,333

Other borrowings

-

25,000

384,203

400,462

Bank borrowings of £199,808 are secured against the land and buildings. Bank borrowings of £42,020 relate to a business interuption loan and are unsecured. Obligations under HP and finance lease are secured on the assets they relate to.

9

Related party transactions

Transactions with Directors

2024

At 1 September 2023
£

Advances to Director
£

Repayments by Director
£

At 31 August 2024
£

Unsecured, interest free, repayable on demand

60,525

175,070

(150,000)

85,595

 

Other transactions with Directors

At the year end, the directors owed the company £85,595 (2023: £60,525). This amount is unsecured, interest free and repayable on demand.