Registration number:
Roberts Plant Engineers Limited
for the
Year Ended 30 June 2024
Roberts Plant Engineers Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Roberts Plant Engineers Limited
Company Information
Director |
Mr P E Roberts |
Company secretary |
Mrs E Partington |
Registered office |
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Bankers |
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Accountants |
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Roberts Plant Engineers Limited
(Registration number: 4024073)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
6,521 |
15,448 |
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Shareholders' funds |
6,621 |
15,548 |
For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Roberts Plant Engineers Limited
(Registration number: 4024073)
Balance Sheet as at 30 June 2024
(continued)
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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Roberts Plant Engineers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tax
Taxation represents the sum of tax currently payable and deferred tax.
The company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.
Roberts Plant Engineers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
(continued)
2 |
Accounting policies (continued) |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantially enacted by the end of the reporting period.
Tangible assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates:
Depreciation
Asset class |
Depreciation method and rate |
Motor vehicles |
25% of written down value per annum |
Plant and machinery |
10% of written down value per annum |
Fixtures and fittings |
20% of cost per annum |
Computer equipment |
33% of cost per annum |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
Roberts Plant Engineers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
(continued)
2 |
Accounting policies (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.
Leases
Assets obtained under hire purchase agreements and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor, are charged to profit and loss account on a straight line basis.
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.
Rental income from operating leases where substantially all of the benefits and risks of ownership remain with the lessor, is recognised on a straight line basis over the term of the lease.
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.
Roberts Plant Engineers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
(continued)
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Roberts Plant Engineers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
(continued)
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 July 2023 |
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Additions |
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At 30 June 2024 |
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Depreciation |
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At 1 July 2023 |
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Charge for the year |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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Stocks |
2024 |
2023 |
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Other inventories |
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Debtors |
Roberts Plant Engineers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
(continued)
6 |
Debtors (continued) |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
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Other debtors |
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Roberts Plant Engineers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
(continued)
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Loans and borrowings |
Bank borrowings
Roberts Plant Engineers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
(continued)
9 |
Loans and borrowings (continued) |
The bank overdraft, which totals £142470.00, is secured by a debenture over all the company's assets and undertaking. |
Other borrowings
The carrying amount of Hire Purchase at year end is £35,401 (2023 - £94,321). The obligations under hire purchase contracts, which total £35,401, are all payable within five years. The obligations are secured on the assets to which they relate. |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
The company operates defined contribution schemes on behalf of its directors and employees. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to these funds and amounted to £668 (2023 - £494).
Roberts Plant Engineers Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
(continued)
Related party transactions |
Summary of transactions with other related parties
During the year the company received management recharges of £60,000 (2023: £120,000) from Roberts Farm (Glos) Limited, a company under the control of Mr P E Roberts, a director and shareholder of the company. The amount owed at the end of the year was £85,268 (2023: £65,524) owed to Roberts Farm (Glos) Limited.
During the year the company made payments on behalf of Roberts Civil Engineers Limited of £326, a company under the control of Mr P E Roberts, a director and shareholder of the company. The amount owed at the end of the year was £1,883 (2023: £1,557) owed by Roberts Civil Engineers Limited.
The above transactions were in the normal course of business and were conducted on an at arms length basis.