REGISTERED NUMBER: 00451655 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

L ROBINSON & CO (GILLINGHAM) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I P J Jennings

Mrs M G Jennings

Mrs E M Foster

SECRETARY:

J Pheasant

REGISTERED OFFICE:

Owens Way

Gads Hill

Gillingham

Kent

ME7 2RS

REGISTERED NUMBER:

00451655 (England and Wales)

AUDITORS:

Carleys

Statutory Auditor

Second Floor South

The Fitted Rigging House

The Historic Dockyard

Chatham

Kent

ME4 4TZ

FIXED ASSETS

Tangible assets

4

2,208,144

2,249,520

Investments

5

100

100

2,208,244

2,249,620

CURRENT ASSETS

Debtors

6

986,777

948,328

CREDITORS

Amounts falling due within one year

7

493,104

518,965

NET CURRENT ASSETS

493,673

429,363

TOTAL ASSETS LESS CURRENT LIABILITIES

2,701,917

2,678,983

CREDITORS

Amounts falling due after more than one year

8

(1,448,368

)

(1,542,285

)

PROVISIONS FOR LIABILITIES

(4,412

)

(21,680

)

NET ASSETS

1,249,137

1,115,018

CAPITAL AND RESERVES

Called up share capital

15,199

15,199

Share premium

331,734

331,734

Capital redemption reserve

3,990

3,990

Retained earnings

898,214

764,095

1,249,137

1,115,018

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 26 September 2025 and were signed on its behalf by:

I P J Jennings - Director

1.	STATUTORY INFORMATION

L Robinson & Co (Gillingham) 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.

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.

Going concern

The directors have considered whether they believe the company will have adequate resources to continue in operational existence for the foreseeable future, and whether there are any material uncertainties about the company's ability to continue as a going concern for a period of at least one year from the date of authorisation of the financial statements.

On review of the projection and cashflows of the company, and the wider group, over the foreseeable future, being at least 12 months from the date of approval of these accounts, the Directors wholly anticipate that the company will remain in operational existence throughout that period and beyond.

As disclosed in note 11, a joint and several guarantee is in place with the group's bankers over the overdraft and loan facilities held in the parent undertaking. The directors do not anticipate any issues with the continuation of this facility. The Directors are therefore satisfied that there are no material uncertainties in the application of the going concern basis of accounting.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

· the amount of revenue can be measured reliably;

· it is probable that the Company will receive the consideration due under the contract;

· the stage of completion of the contract at the end of the reporting period can be measured reliably; and

· the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Freehold property - 2% straight line

Plant and machinery - 25% reducing balance

Motor vehicles - 25% reducing balance

Fixtures and fittings - 15% reducing balance

Computer equipment - 25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investments in subsidiaries

Investments in subsidiaries are measured at cost less accumulated impairment.

Financial instruments

The Company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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.

Foreign currency translation

The Company's functional and presentational currency is GBP.

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Pension costs and other post-retirement benefits

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when they are declared and have been appropriately authorised. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

2,904,877

311,288

202,323

32,812

3,451,300

Additions

-

-

3,415

-

3,415

At 31 December 2024

2,904,877

311,288

205,738

32,812

3,454,715

DEPRECIATION

At 1 January 2024

682,548

299,816

187,860

31,556

1,201,780

Charge for year

39,183

2,868

2,426

314

44,791

At 31 December 2024

721,731

302,684

190,286

31,870

1,246,571

NET BOOK VALUE

At 31 December 2024

2,183,146

8,604

15,452

942

2,208,144

At 31 December 2023

2,222,329

11,472

14,463

1,256

2,249,520

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

890,924

914,950

Other debtors

95,853

33,378

986,777

948,328

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 9)

389,409

476,498

Trade creditors

73,157

14,410

Other creditors

30,538

28,057

493,104

518,965

See note 9 for details of security over the bank loans. The bank overdraft is secured on the same basis.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 9)

548,368

631,285

Other creditors

900,000

911,000

1,448,368

1,542,285

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

203,384

317,454

9.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

314,769

409,119

Bank loans

74,640

67,379

389,409

476,498

Amounts falling due between one and two years:

Bank loans

79,165

72,037

Amounts falling due between two and five years:

Bank loans

265,819

241,794

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

203,384

317,454

The bank loan falling due after more than 5 years is repayable by monthly installments up to 2032, commencing in March 2009. The loan bears interest at 1.4% over the bank rate.

The loan is secured over one of the company's freehold land and buildings and by fixed and floating charges over the other assets of the company.

The company also received a bounceback loan in October 2020, which is repayable over a 10 year period, attracting interest at 2.5%.

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

533

510

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

The Report of the Auditors was unqualified.

Claire Ralph (Senior Statutory Auditor)

for and on behalf of Carleys

12.	FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

An unlimited composite joint and several guarantee in favour of HSBC Bank plc in in place, jointly with the company's subsidiary Jubilee Clips Limited, for the overdraft and loan facilities of L. Robinson & Co (Gillingham) Limited.

At 31 December 2024 these companies had combined overdrafts and loans of £1,072,640 (2023 - £1,278,533).

13.	RELATED PARTY DISCLOSURES

Included in other creditors falling due after more than one year is a non-interest bearing directors' loan account. As at 31 December 2024 the amount outstanding was £900,000 (2023 - £911,000).