Robust Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09625909 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

ROBUST MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Prasad

G M Thornton

REGISTERED OFFICE:

The Old Fire Station

69 Albion Street

Birmingham

West Midlands

B1 3EA

REGISTERED NUMBER:

09625909 (England and Wales)

FIXED ASSETS

Tangible assets

2

779,902

794,822

CURRENT ASSETS

Debtors

3

26,109

2,266

Cash at bank

3,153

1,961

29,262

4,227

CREDITORS

Amounts falling due within one year

4

503,141

469,106

NET CURRENT LIABILITIES

(473,879

)

(464,879

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

306,023

329,943

CREDITORS

Amounts falling due after more than one
year

5

320,685

342,326

NET LIABILITIES

(14,662

)

(12,383

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(14,663

)

(12,384

)

SHAREHOLDERS' FUNDS

(14,662

)

(12,383

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22 March 2019 and were signed on its
behalf by:

Mrs S Prasad - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The directors have confirmed their intention to continue supporting the company for the foreseeable

future. Hence, the financial statements have been prepared under the going concern basis.

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

In the application of the company's accounting policies the directors are required to make

judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of revision and future periods if the revision effects both

current and future periods.

In preparing these financial statements, the directors have made the following judgements:

The company reviews the carrying value of all assets for indications of impairment at each period. If

indicators of impairment exist, the carrying value of the asset is subject to further testing to determine

whether its carrying value exceeds its recoverable amount. This process will usually involve the

estimation of future cash flows which are likely to be generated by the asset.

A provision is recognised when the company has a present legal or constructive obligation as a result

of a past event for which it is probable that an outflow of resources will be required to settle the

obligation and the amount can be reliably estimated. If the effect is material, provisions are

determined by discounting the expected future cash flows at a rate that reflects the time value of

money and the risk specific to the liability.

Whether a present obligation is probable or not requires judgement. The nature and type of risks for

these provisions differ and management's judgement is applied regarding the nature and extent of

obligations in deciding if an outflow of resources is probable or not.

The directors have reviewed the asset lives and associated residual values of all fixed assets classes.

In re-assessing asset lives, factors such as technological innovation, product life cycles and

maintenance programmes are taken into account. Residual value assessments consider issues such

as future market conditions, the remaining life of the asset and projects disposal values.

The directors do not consider there to be an significant estimates used in the preparation of the

financial statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Financial instruments

(i) Cash and cash equivalents

Cash and cash equivalents are basic financial instruments 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.

(ii) Financial assets and liabilities

All financial assets and liabilities are recognised when the company becomes 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 its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction

costs), except for those financial assets classified as at fair value through profit and loss, which are

initially measured at fair value unless the arrangement constitutes a financing transaction. If an

arrangement constitutes a financing transaction, the financial asset or liability is measured at the

present value of the future payments discounted at a market rate of interest for a similar debt

instrument.

Financial assets and liabilities are only offset at the balance sheet date when, and only when there

exists a legally enforceable right to set off the recognised amounts and the company intends either to

settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that have no stated interest rate and are classified as payable or receivable within

one year are initially measured at an undiscounted amount of the cash or other consideration

expected to be paid or received, net of impairment. Other debt instruments not meeting these

conditions are measured at fair value through profit and loss.

Commitments to make or receive loans which meet the conditions mentioned above are measured at

cost less impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows for the

financial asset expire or are settled, when the company transfers to another party substantially all the

risks and rewards of ownership of the financial asset, or the company, despite having retained some,

but not all, significant risks and rewards of ownership, has transferred control of the asset to another

party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged,

cancelled or expires.

Current and deferred 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 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each

balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in

profit or loss.

For financial assets carried at amortised costs, the amount of an impairment is the difference between

the asset's carrying amount and the present value of estimated future cash flows, discounted at the

financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the

asset's carrying amount and the best estimate of the amount that would be received for the asset if it

were to be sold at the reporting date.

Where indicators exist for the decrease in impairment loss, and the decrease can be related

objectively to an event occuring after the impairment was recognised, the prior impairment loss is

tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset

to the extent that the revised recoverable value does not lead to a revised carrying amount higher

than the carrying value had no impairment been recognised.

2.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 July 2017

and 30 June 2018

820,991

DEPRECIATION

At 1 July 2017

26,169

Charge for year

14,920

At 30 June 2018

41,089

NET BOOK VALUE

At 30 June 2018

779,902

At 30 June 2017

794,822

Included in cost of land and buildings is freehold land of £ 75,000 (2017 - £ 75,000 ) which is not

depreciated.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Other debtors

26,109

2,266

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Bank loans and overdrafts

21,117

Trade creditors

-

100,010

Amounts owed to group undertakings

435,010

335,000

Taxation and social security

3,014

3,497

Other creditors

44,000

9,482

503,141

469,106

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2018

2017

£

Bank loans

320,685

342,326

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

236,217

228,769

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

Bank loans

341,802

363,443

Bank loans are secured through a fixed and floating charge due to the company's bankers on its

property and assets, both present and future.

7.	RELATED PARTY DISCLOSURES

The ultimate controlling parent is Robust Management Limited, a company registered in Guernsey.

At the year end £435,010 (2017:£335,000) was due to the company's parent, Robust Limited.

At the year end £20,162 (2017: £Nil) was due from Halcyon International Group Limited, a company

which Ms S Prasad is also a director.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ms S Prasad, by virtue of her shareholding in the ultimate parent.

Robust Management Limited - Accounts to registrar (filleted) - small 18.2

Robust Management Limited - Accounts to registrar (filleted) - small 18.2