Company Registration Number 12369867 (England and Wales)
ROBOSYS AUTOMATION LTD
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ROBOSYS AUTOMATION LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 11
ROBOSYS AUTOMATION LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,823,842
25,687
Tangible assets
4
19,447
6,135
Investments
5
792
1
1,844,081
31,823
Current assets
Debtors
7
303,790
359,725
Cash at bank and in hand
9,531
14,688
313,321
374,413
Creditors: amounts falling due within one year
8
(114,685)
(120,293)
Net current assets
198,636
254,120
Total assets less current liabilities
2,042,717
285,943
Creditors: amounts falling due after more than one year
9
(28,525)
-
0
Provisions for liabilities
(2,770)
(1,166)
Net assets
2,011,422
284,777
Capital and reserves
Called up share capital
80,000
20,000
Share premium account
1,940,000
-
0
Profit and loss reserves
(8,578)
264,777
Total equity
2,011,422
284,777
ROBOSYS AUTOMATION LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 May 2025 and are signed on its behalf by:
Mr M Hunt
Director
Company registration number 12369867 (England and Wales)
ROBOSYS AUTOMATION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Robosys Automation Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 23 Mitchell Point, Ensign Way, Hamble, Southampton, SO31 4RF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover represents invoices raised for the design and engineering services for marine vessels. Invoices are recognised on the date of the invoice raised and an adjustment is made where services related to a future period.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
over duration of licence agreement
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
over lease term
Plant and equipment
3 - 5 years on cost
Computers
3 - 5 years on cost
ROBOSYS AUTOMATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ROBOSYS AUTOMATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ROBOSYS AUTOMATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
3
ROBOSYS AUTOMATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
3
Intangible fixed assets
Other
£
Cost
At 1 January 2024
44,035
Additions
2,004,383
At 31 December 2024
2,048,418
Amortisation and impairment
At 1 January 2024
18,348
Amortisation charged for the year
206,228
At 31 December 2024
224,576
Carrying amount
At 31 December 2024
1,823,842
At 31 December 2023
25,687
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
-
0
14,357
14,357
Additions
4,869
13,826
18,695
At 31 December 2024
4,869
28,183
33,052
Depreciation and impairment
At 1 January 2024
-
0
8,222
8,222
Depreciation charged in the year
-
0
5,383
5,383
At 31 December 2024
-
0
13,605
13,605
Carrying amount
At 31 December 2024
4,869
14,578
19,447
At 31 December 2023
-
0
6,135
6,135
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
792
1
ROBOSYS AUTOMATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
1
Additions
791
At 31 December 2024
792
Carrying amount
At 31 December 2024
792
At 31 December 2023
1
6
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Robosys Automation Limited
Canada
Ordinary
100.00
Robosys Automation Inc
United States of America
Ordinary
100.00
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
58,860
274,977
Amounts owed by group undertakings
19,264
-
0
Other debtors
198,107
84,748
276,231
359,725
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
27,559
-
0
Total debtors
303,790
359,725
ROBOSYS AUTOMATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
39,269
25,859
Trade creditors
7,114
15,357
Amounts owed to group undertakings
800
1
Taxation and social security
3,856
30,493
Other creditors
63,646
48,583
114,685
120,293
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
28,525
-
0
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
250,000
-
0
11
Directors' transactions

Interest free loans have been granted to the company by the directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr A K Nawab -
-
33,455
890
(29,693)
4,652
Mr J Henderson -
-
3,205
890
-
4,095
Mr M Hunt -
-
212
890
-
1,102
36,872
2,670
(29,693)
9,849
12
Control

The company is under the ultimate control of Mr A K Nawab by virtue of his majority shareholding.

ROBOSYS AUTOMATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
13
Capital commitments

Amounts contracted for but not provided in the financial statements:

2024
2023
£
£
Acquisition of intangible assets
-
60,000
14
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2024
2023
2024
2023
£
£
£
£
Entities over which the entity has control, joint control or significant influence
42,364
-
0
-
-
Other related parties
29,700
1,639
36,337
-

Goods to the value of £36,337 (2023: £Nil) were purchased from Robosys Automation and Robotics PVT Ltd, a company incorporated in India, which is under the common control of the shareholders. At the reporting date, £26,322 (2023: £Nil) was owed by Robosys Automation Limited.

 

Goods to the value of £Nil (2023: £1,639) were sold to Robosys Automation and Robotics PVT Ltd, a company incorporated in India, which is under the common control of the shareholders. At the reporting date, £Nil (2023: £1,639) was owed to Robosys Automation Limited.

 

Services to the value of £42,364 (2023: £Nil) were sold to Robosys Automation Canada, a company incorporated in Canada, which is under the common control of the shareholders. At the reporting date, £19,264 (2023: £Nil) was owed to Robosys Automation Limited.

 

Services to the value of £29,700 (2023: £Nil) were sold to Robosys Automation Inc, a company incorporated in the USA, which is under the common control of the shareholders. At the reporting date, £Nil (2023: £Nil) was owed to Robosys Automation Limited.

 

2024
2023
Amounts due to related parties
£
£
Entities over which the entity has control, joint control or significant influence
800
1
Other related parties
26,322
-

The amounts due to entities over which Robosys Automation Limited has control relates to unpaid share capital.

ROBOSYS AUTOMATION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14
Related party transactions
(Continued)
- 11 -

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
19,264
-
Other related parties
103,071
1,639

During the year, loans to the value of $129,000 USD (£103,071) were provided to Robosys Automation Inc, a company incorporated in the USA and under the common control of the shareholders. At the reporting date, the full balance was owed to Robosys Automation Limited.

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