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Company No: 06620428 (England and Wales)

JUSTIN ROBERTON LIMITED

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

JUSTIN ROBERTON LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

JUSTIN ROBERTON LIMITED

BALANCE SHEET

As at 31 July 2024
JUSTIN ROBERTON LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 119,801 79,548
119,801 79,548
Current assets
Stocks 5 79,454 79,857
Debtors 6 51,248 60,566
Cash at bank and in hand 131,932 106,989
262,634 247,412
Creditors: amounts falling due within one year 7 ( 264,336) ( 240,401)
Net current (liabilities)/assets (1,702) 7,011
Total assets less current liabilities 118,099 86,559
Creditors: amounts falling due after more than one year 8 ( 27,494) ( 20,000)
Provision for liabilities ( 20,130) ( 16,986)
Net assets 70,475 49,573
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 70,375 49,473
Total shareholders' funds 70,475 49,573

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Justin Roberton Limited (registered number: 06620428) were approved and authorised for issue by the Board of Directors on 15 February 2025. They were signed on its behalf by:

Mrs K Roberton
Director
JUSTIN ROBERTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
JUSTIN ROBERTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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

Justin Roberton 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 Hi-Q Tyre Services, West End, Bodmin, PL31 1LN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 6 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 either a straight-line, or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 - 10 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 12.5 % reducing balance

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.

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 Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 24 23

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 August 2023 6 6
At 31 July 2024 6 6
Accumulated amortisation
At 01 August 2023 6 6
At 31 July 2024 6 6
Net book value
At 31 July 2024 0 0
At 31 July 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 August 2023 17,972 22,497 270,572 311,041
Additions 0 30,385 27,624 58,009
Disposals 0 ( 3,405) 0 ( 3,405)
At 31 July 2024 17,972 49,477 298,196 365,645
Accumulated depreciation
At 01 August 2023 17,374 18,344 195,775 231,493
Charge for the financial year 304 6,735 10,573 17,612
Disposals 0 ( 3,261) 0 ( 3,261)
At 31 July 2024 17,678 21,818 206,348 245,844
Net book value
At 31 July 2024 294 27,659 91,848 119,801
At 31 July 2023 598 4,153 74,797 79,548

5. Stocks

2024 2023
£ £
Stocks (secured) 79,454 79,857

6. Debtors

2024 2023
£ £
Trade debtors 33,252 44,040
Other debtors 17,996 16,526
51,248 60,566

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,909 10,909
Trade creditors 154,787 131,787
Taxation and social security 61,665 66,268
Obligations under finance leases and hire purchase contracts 4,269 1,289
Other creditors 32,706 30,148
264,336 240,401

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

2024 2023
£ £
Bank loans 9,090 20,000
Obligations under finance leases and hire purchase contracts 18,404 0
27,494 20,000

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 137,752 127,410
between one and five years 551,008 449,880
after five years 19,845 131,580
708,605 708,870