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Company registration number: 07225588
The Robin Collective Ltd
Unaudited filleted financial statements
30 September 2024
The Robin Collective Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
The Robin Collective Ltd
Directors and other information
Directors Mr R Fegen
Ms B Wright
Company number 07225588
Registered office Studio 8 Empson Street Studios
5 Empson Street
London
E3 3LT
The Robin Collective Ltd
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 47,530 55,119
_______ _______
47,530 55,119
Current assets
Debtors 6 87,104 110,041
Cash at bank and in hand 580 83,015
_______ _______
87,684 193,056
Creditors: amounts falling due
within one year 7 ( 118,907) ( 133,604)
_______ _______
Net current (liabilities)/assets ( 31,223) 59,452
_______ _______
Total assets less current liabilities 16,307 114,571
Creditors: amounts falling due
after more than one year 8 ( 6,666) ( 16,666)
_______ _______
Net assets 9,641 97,905
_______ _______
Capital and reserves
Called up share capital 6 6
Profit and loss account 9,635 97,899
_______ _______
Shareholders funds 9,641 97,905
_______ _______
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Ms B Wright
Director
Company registration number: 07225588
The Robin Collective Ltd
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Studio 8 Empson Street Studios, 5 Empson Street, London, E3 3LT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10 % straight line
Fittings fixtures and equipment - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 4 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 October 2023 87,273 28,738 116,011
Additions - 4,125 4,125
_______ _______ _______
At 30 September 2024 87,273 32,863 120,136
_______ _______ _______
Depreciation
At 1 October 2023 34,909 25,983 60,892
Charge for the year 8,728 2,986 11,714
_______ _______ _______
At 30 September 2024 43,637 28,969 72,606
_______ _______ _______
Carrying amount
At 30 September 2024 43,636 3,894 47,530
_______ _______ _______
At 30 September 2023 52,364 2,755 55,119
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 71,502 81,022
Other debtors 15,602 29,019
_______ _______
87,104 110,041
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 25,754 10,000
Trade creditors 15,107 29,033
Corporation tax 38,633 43,475
Social security and other taxes 35,458 47,437
Other creditors 3,955 3,659
_______ _______
118,907 133,604
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 6,666 16,666
_______ _______
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 3,443 3,443
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr R Fegen ( 509) ( 848) ( 1,357)
Ms B Wright ( 914) 1,178 264
_______ _______ _______
( 1,423) 330 ( 1,093)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr R Fegen ( 533) 24 ( 509)
Ms B Wright ( 533) ( 381) ( 914)
_______ _______ _______
( 1,066) ( 357) ( 1,423)
_______ _______ _______