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REGISTERED NUMBER: 09851261 (England and Wales)















Audited Financial Statements for the Year Ended 30 June 2024

for

Robin Hood Airport Developments Limited

Robin Hood Airport Developments Limited (Registered number: 09851261)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Robin Hood Airport Developments Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr Richard Edward Walker
Mr Daniel Richard Edward Walker



SECRETARY: Mr Lee John Bartrop



REGISTERED OFFICE: c/o Walker & Son (Hauliers) Limited
Ollerton Road
Tuxford
Nottinghamshire
NG22 0PQ



REGISTERED NUMBER: 09851261 (England and Wales)



INDEPENDENT AUDITORS: Landin Wilcock & Co
Statutory Auditor
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB



SOLICTORS: Browne Jacobson LLP
Mowbray House
Castle Meadow Road
Nottingham
NG2 1BJ

Robin Hood Airport Developments Limited (Registered number: 09851261)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,378,773 3,451,069
Investment property 5 3,520,000 3,520,000
8,898,773 6,971,069

CURRENT ASSETS
Debtors 6 176,155 337,791
Cash at bank 436,552 921,327
612,707 1,259,118
CREDITORS
Amounts falling due within one year 7 (7,634,198 ) (6,169,087 )
NET CURRENT LIABILITIES (7,021,491 ) (4,909,969 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,877,282 2,061,100

PROVISIONS FOR LIABILITIES (834,702 ) (402,632 )
NET ASSETS 1,042,580 1,658,468

CAPITAL AND RESERVES
Called up share capital 8 400 400
Retained earnings 1,042,180 1,658,068
SHAREHOLDERS' FUNDS 1,042,580 1,658,468

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





Mr Richard Edward Walker - Director


Robin Hood Airport Developments Limited (Registered number: 09851261)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Robin Hood Airport Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
Investment property is a significant balance on the company's balance sheet and the property is held at its fair value. The fair value adjustment has a material effect on the company's reporting position and performance.

Critical accounting judgements and key sources of estimation uncertainty
Power, Plant and Equipment - included within Power, Plant and Equipment are capacity market contracts with a net book value of £5,378,773 (2023 - £3,451,068). This is a new market to the United Kingdom and the forecasting models are based on a number of market conditions over the next 13 years. The plant has only been running for a short period of time and the capacity market payments commenced in October 2023. The current performance is not representative of the expected future performance of the contracts. Based on the future performance a selling price of £60 - £65 per mwh over the next 13 years for the projects would not give rise to an impairment.

Valuation of investment properties - due to the nature of the investment properties, management have to make several judgements in the determination of their fair valuation. Management form their valuations through regular observation of the commercial property market after making due allowance for the difference in condition and location between the observed properties and that of the group's properties.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 5% on cost

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Robin Hood Airport Developments Limited (Registered number: 09851261)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern
The company continues to make a profit from its investment property and the company continues to have the support of its parent company Walker & Son (Hauliers) Limited which is the main creditor of the company. At the year end Robin Hood Airport Developments Limited owed Walker & Son (Hauliers) Limited £4,886,796.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Robin Hood Airport Developments Limited (Registered number: 09851261)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 3,890,651
Additions 2,122,237
At 30 June 2024 6,012,888
DEPRECIATION
At 1 July 2023 439,582
Charge for year 194,533
At 30 June 2024 634,115
NET BOOK VALUE
At 30 June 2024 5,378,773
At 30 June 2023 3,451,069

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 3,520,000
NET BOOK VALUE
At 30 June 2024 3,520,000
At 30 June 2023 3,520,000

Included within the cost of investment property is capitalised finance costs which total £81,249 (2023 - £81,249).

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2020 (665,754 )
Valuation in 2021 140,000
Cost 4,045,754
3,520,000

The fair value of the investment property has been considered by the directors who are internal to the company at 30 June 2024. The directors do not consider the fair value of the investment property to have changed since the last valuation undertaken.

Robin Hood Airport Developments Limited (Registered number: 09851261)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,650 34,298
Other debtors 145,505 303,493
176,155 337,791

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 20,947 29,344
Amounts owed to group undertakings 4,886,796 3,647,281
Taxation and social security 385,834 158,288
Other creditors 2,340,621 2,334,174
7,634,198 6,169,087

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
400 Ordinary £1 400 400

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Hampstead (Senior Statutory Auditor)
for and on behalf of Landin Wilcock & Co

10. RELATED PARTY DISCLOSURES

The Walker Homes Tuxford Limited Partnership

Robin Hood Airport Developments Limited is the general partner in the Limited Partnership. The Limited Partner is an Employee Benefit Trust which was created by Walker & Son (Hauliers) Limited which is the parent company of Robin Hood Airport Developments Limited.

During the year Robin Hood Airport Developments Limited share of profit were £918 (2023 - £157) from The Walker Homes Tuxford Limited Partnership.

During the year Walker & Son (Hauliers) Limited invoiced The Walker Homes Tuxford Limited Partnership £nil (2023 - £nil) as the contractor on the development. At the year end £292,380 (2023 - £292,380) was due to Walker & Son (Hauliers) Limited and charged interest on the balance of £nil (2023 - £nil).

At the year end Robin Hood Airport Developments owed the Limited Partnership £1,991,902 (2023 - £1,980,900).

Robin Hood Airport Developments Limited (Registered number: 09851261)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


11. ULTIMATE CONTROLLING PARTY

The controlling party is Walker & Son (Hauliers) Limited.

The ultimate controlling party is Mr Richard Edward Walker.

Subsequent to the year end, control of the company passed to the Richard Walker Family Trust, which is now considered the ultimate controlling party.

The most senior parent entity producing publicly available financial statements is Walker & Son (Hauliers) Limited. These financial statements are available upon request from Ollerton Road, Tuxford, Notts, NG22 OPQ.