Company registration number 05968966 (England and Wales)
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Unaudited Financial Statements
For The Year Ended 31 May 2025
Pages For Filing With Registrar
Roberts Country Vehicles (Nationwide) Limited
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Contents
Page
Accountants' report
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 9
Roberts Country Vehicles (Nationwide) Limited
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Accountants' Report To The Director On The Preparation Of The Unaudited Statutory Financial Statements Of Roberts Country Vehicles (Nationwide) Limited For The Year Ended 31 May 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Roberts Country Vehicles (Nationwide) Limited for the year ended 31 May 2025 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Roberts Country Vehicles (Nationwide) Limited, as a body, in accordance with the terms of our engagement letter dated 22 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Roberts Country Vehicles (Nationwide) Limited and state those matters that we have agreed to state to the board of directors of Roberts Country Vehicles (Nationwide) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roberts Country Vehicles (Nationwide) Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Roberts Country Vehicles (Nationwide) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Roberts Country Vehicles (Nationwide) Limited. You consider that Roberts Country Vehicles (Nationwide) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Roberts Country Vehicles (Nationwide) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chavereys Limited
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
ME13 8GD
England
1 August 2025
Roberts Country Vehicles (Nationwide) Limited
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Balance Sheet
As At 31 May 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
99,830
115,982
Investments
4
115,000
115,000
214,830
230,982
Current assets
Stocks
43,013
49,685
Debtors
5
70,627
209,787
Cash at bank and in hand
391,304
261,631
504,944
521,103
Creditors: amounts falling due within one year
6
(338,357)
(303,747)
Net current assets
166,587
217,356
Total assets less current liabilities
381,417
448,338
Creditors: amounts falling due after more than one year
7
(1,983)
(30,481)
Provisions for liabilities
(12,467)
(15,914)
Net assets
366,967
401,943
Capital and reserves
Called up share capital
15,000
15,000
Profit and loss reserves
351,967
386,943
Total equity
366,967
401,943
Roberts Country Vehicles (Nationwide) Limited
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Balance Sheet (Continued)
As At 31 May 2025
- 3 -
For the financial year ended 31 May 2025 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 director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on
T Pilbeam
Director
Company registration number 05968966 (England and Wales)
Roberts Country Vehicles (Nationwide) Limited
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Statement Of Changes In Equity
For The Year Ended 31 May 2025
- 4 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2023
15,000
370,621
385,621
Year ended 31 May 2024:
Profit and total comprehensive income
-
88,618
88,618
Dividends
-
(72,296)
(72,296)
Balance at 31 May 2024
15,000
386,943
401,943
Year ended 31 May 2025:
Profit and total comprehensive income
-
40,320
40,320
Dividends
-
(75,296)
(75,296)
Balance at 31 May 2025
15,000
351,967
366,967
Roberts Country Vehicles (Nationwide) Limited
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Notes To The Financial Statements
For The Year Ended 31 May 2025
- 5 -
1
Accounting policies
Company information
Roberts Country Vehicles (Nationwide) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chavereys Limited, The Goods Shed, Jubilee Way, Faversham, Kent, England, ME13 8GD.
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
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
1.3
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
15 years straight line
Fixtures and fittings
15% straight line
Motor vehicles
25% reducing balance
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.
1.4
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.
Roberts Country Vehicles (Nationwide) Limited
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 May 2025
1
Accounting policies
(Continued)
- 6 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
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.
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.
1.7
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.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Roberts Country Vehicles (Nationwide) Limited
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 May 2025
1
Accounting policies
(Continued)
- 7 -
1.9
Leases
As lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
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.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
10
10
3
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2024
55,273
213,500
55,367
324,140
Additions
1,785
16,980
18,765
Disposals
(11,015)
(11,015)
At 31 May 2025
57,058
219,465
55,367
331,890
Depreciation and impairment
At 1 June 2024
29,568
154,491
24,099
208,158
Depreciation charged in the year
3,761
22,179
7,817
33,757
Eliminated in respect of disposals
(9,855)
(9,855)
At 31 May 2025
33,329
166,815
31,916
232,060
Roberts Country Vehicles (Nationwide) Limited
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 May 2025
3
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
(Continued)
- 8 -
Carrying amount
At 31 May 2025
23,729
52,650
23,451
99,830
At 31 May 2024
25,705
59,009
31,268
115,982
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
115,000
115,000
The investment represents a 100% holding in the ordinary A and B shares of Roberts Country Vehicles (South East) Limited. The company was dormant in the year and as such no profit or loss was made. The registered office of the subsidiary is the same as the company.
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
27,425
11,006
Other debtors
1,416
165,342
Prepayments and accrued income
41,786
33,439
70,627
209,787
6
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
28,215
6,012
Trade creditors
107,031
96,766
Amounts owed to group undertakings
115,000
115,000
Corporation tax
15,003
32,700
Other taxation and social security
33,444
26,041
Government grants
283
283
Accruals and deferred income
39,381
26,945
338,357
303,747
Roberts Country Vehicles (Nationwide) Limited
ROBERTS COUNTRY VEHICLES (NATIONWIDE) LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 May 2025
- 9 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Obligations under finance leases
28,215
Government grants
1,983
2,266
1,983
30,481
8
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
12,467
15,914
2025
Movements in the year:
£
Liability at 1 June 2024
15,914
Credit to profit or loss
(3,447)
Liability at 31 May 2025
12,467
9
Operating lease commitments
Lessee
Lease commitments are in respect of the commercial property used by the company in its trade.
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
as restated
Total commitments
255,000
340,000