Robertet (UK) Limited - Limited company accounts 18.2
Robertet (UK) Limited - Limited company accounts 18.2
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
FOR |
ROBERTET (UK) LIMITED |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 4 |
Statement of Comprehensive Income | 6 |
Balance Sheet | 7 |
Statement of Changes in Equity | 8 |
Cash Flow Statement | 9 |
Notes to the Cash Flow Statement | 10 |
Notes to the Financial Statements | 11 |
ROBERTET (UK) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
30 New Road |
Brighton |
East Sussex |
BN1 1BN |
BANKERS: |
Santander Corporate & Commercial Banking |
Bridle Road |
Bootle |
Merseyside |
L30 4GB |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
The directors present their strategic report for the year ended 31 December 2019. |
REVIEW OF BUSINESS |
Sales turnover in the year under review (2019) was £10,641,437 compared with £10,690,910 last year (2018). Although turnover was |
slightly down on last year , nevertheless, there is still a demand for the company's products and services. |
Growth: The UK market saw some growth in the fragrance division due in part to the uncertainty of Brexit, where we believe customers |
initially held back on expected fragrance launches. In order to grow export sales, trips were planned this year to Kenya and Nigeria |
where we have focused an additional agent. Growth in the North of the UK was also a focus in order to bring in new UK business. |
Flavour sales reduced due to the UK customers moving products abroad for manufacture. |
The directors regard the investment in UK development continues to be integral to the continuing success of the business and ensuring |
we continue to develop and grow in our primary market. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The management of the business and the execution of the company's strategy are subject to a number of risks. The key business risks |
and uncertainties affecting the company are considered to be the problems associated with Brexit, export business and competition from |
both national and independent competitors in these countries. |
Trading margins: |
Trading margins fell compared with the previous year due to the continued rising costs and availability of raw materials. |
BALANCED AND COMPREHENSIVE ANALYSIS |
Our key performance indicators are as follows: |
Delivery Performance: |
Delivery performance is measured using SAP business one: actual despatch date against planned despatch date. |
Suppliers Raw Material Quality: |
Suppliers are measured for continuous material quality using GC purity trace and ensuring the RI and SG are within the required range. |
Customer Satisfaction: |
Customer satisfaction is measured by the field sales team who provide call reports for every customer visit and also by completion of a |
customer satisfaction questionnaire. |
These help us measure our performance against our competitors. |
FUTURE OUTLOOK 2020 |
The external commercial environment is expected to remain competitive in 2020. With the continued Brexit uncertainty, raw material |
shortages and the predicted continued problems obtaining currency in Nigeria, we do however remain confident that we will see some |
UK growth in fragrance sales during 2020. The directors believe continued focus on the UK market, particularly in marketing is key |
and additional resource has been made available in this area as required. |
ON BEHALF OF THE BOARD: |
4 March 2020 |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
The directors present their report with the financial statements of the company for the year ended 31 December 2019. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the sale of perfumery compounds created and blended in |
Haslemere, together with the sale of perfumery and flavour products manufactured by Robertet SA in Grasse. |
DIVIDENDS |
The total distribution of dividends for the year ended 31 December 2019 are £3,000,000 (2018: £Nil). |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2019 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance |
with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to |
prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom |
Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are |
satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. |
In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions |
and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial |
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for |
taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which |
the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to |
make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that |
information. |
AUDITORS |
The auditors, Galloways, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ROBERTET (UK) LIMITED |
Opinion |
We have audited the financial statements of Robertet (UK) Limited (the 'company') for the year ended 31 December 2019 which |
comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to |
the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial |
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom |
Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 December 2019 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our |
responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements |
section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of |
the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in |
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a |
basis for our opinion. |
Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: |
- | the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or |
- | the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the |
Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our |
report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider |
whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or |
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are |
required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other |
information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we |
are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not |
identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our |
opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ROBERTET (UK) LIMITED |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the |
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the |
directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to |
fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, |
disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either |
intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material |
misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a |
high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material |
misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the |
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial |
statements. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's |
website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. |
Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in |
a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to |
anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have |
formed. |
for and on behalf of |
Statutory Auditor |
30 New Road |
Brighton |
East Sussex |
BN1 1BN |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
STATEMENT OF COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
2019 | 2018 |
Notes | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
1,527,106 | 1,756,158 |
Other operating income | 4 |
OPERATING PROFIT | 6 |
Interest receivable and similar income | 7 |
1,563,181 | 1,787,057 |
Interest payable and similar expenses | 8 |
PROFIT BEFORE TAXATION |
Tax on profit | 9 |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
BALANCE SHEET |
31 DECEMBER 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 11 |
CURRENT ASSETS |
Stocks | 12 |
Debtors | 13 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 14 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 16 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 17 |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors on |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
Called up |
share | Retained | Other | Total |
capital | earnings | reserves | equity |
£ | £ | £ | £ |
Balance at 1 January 2018 |
Changes in equity |
Total comprehensive income | - |
Balance at 31 December 2018 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 December 2019 |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
2019 | 2018 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest paid | ( |
) | ( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Equity dividends paid | ( |
) |
Net cash from financing activities | ( |
) |
(Decrease)/increase in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year | 2 | 5,055,075 |
Cash and cash equivalents at end of year | 2 | 4,261,056 | 6,382,785 |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2019 | 2018 |
£ | £ |
Profit before taxation |
Depreciation charges |
Finance costs | 4,136 | 7,523 |
Finance income | (25,075 | ) | (19,899 | ) |
1,640,724 | 1,878,573 |
Decrease/(increase) in stocks | ( |
) |
Decrease/(increase) in trade and other debtors | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance |
Sheet amounts: |
Year ended 31 December 2019 |
31.12.19 | 1.1.19 |
£ | £ |
Cash and cash equivalents | 4,261,056 | 6,382,785 |
Year ended 31 December 2018 |
31.12.18 | 1.1.18 |
£ | £ |
Cash and cash equivalents | 6,382,785 | 5,055,075 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.1.19 | Cash flow | At 31.12.19 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 6,382,785 | (2,121,729 | ) | 4,261,056 |
6,382,785 | ( |
) | 4,261,056 |
Total | 6,382,785 | (2,121,729 | ) | 4,261,056 |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
1. | STATUTORY INFORMATION |
Robertet (UK) Limited is a |
number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in £ sterling. The functional currency is also £ sterling. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting |
Standard (section 33.1A) applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly |
owned subsidiaries within the group. |
Critical accounting judgements and key sources of estimation uncertainty |
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a |
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year |
include: |
Estimation of accrued commissions payable |
An estimation of the amount of commissions payable for the period is made, this is based on sales and agreements for |
commissions. |
Staff bonus |
An estimation of the bonus due to staff is made based on profits made in the period. |
Turnover |
Turnover comprises the value of sales (excluding VAT, similar taxes and trade discounts) of goods provided in the normal |
course of business. Revenue is recognised when the goods are despatched and hence is the point at which the risks and rewards |
of ownership pass to the buyer. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Plant & Machinery - Laboratory | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated |
impairment losses. Costs includes costs directly attributable to making the asset capable of operating as intended. |
Stocks |
Stocks are valued at the lower of cost or estimated selling price less cost to complete and sell and after making due allowance |
for obsolete and slow moving items. The cost is calculated by taking purchase costs, conversion costs and any other costs to |
bring the stock to it's present location and condition using the average costing basis of valuation. |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates ruling at the balance sheet date. Foreign |
exchange transactions are translated into sterling at the rates of exchange ruling at the transaction date with any fluctuations |
being taken to the profit and loss account. |
Pension costs |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
charged to profit or loss in the period to which they relate. |
Leasing commitments |
Rentals applicable to operating leases where substantially all of the benefits of risks of ownership remain with the lessor are |
charged to the profit and loss account as incurred. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. |
Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
Turnover is analysed by geographical market as below: |
2019 | 2018 |
£ | £ |
United Kingdom | 6,794,602 | 6,959,200 |
Exports | 3,840,567 | 3,723,240 |
Other income - United Kingdom | 6,268 | 8,470 |
10,641,437 | 10,690,910 |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
4. | OTHER OPERATING INCOME |
2019 | 2018 |
£ | £ |
Rent received |
5. | EMPLOYEES AND DIRECTORS |
2019 | 2018 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2019 | 2018 |
Administration | 1 | 1 |
Evaluation | 4 | 5 |
Finance | 3 | 3 |
IT | 2 | 2 |
Labs | 12 | 11 |
Manufacturing | 12 | 11 |
Processing | 2 | 2 |
Sales | 5 | 5 |
SOP | 2 | 2 |
L&R | 4 | 4 |
2019 | 2018 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
Information regarding the highest paid director is as follows: |
2019 | 2018 |
£ | £ |
Emoluments etc |
Pension contributions to money purchase schemes |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
6. | OPERATING PROFIT |
The operating profit is stated after charging: |
2019 | 2018 |
£ | £ |
Depreciation - owned assets |
Auditors' remuneration |
Operating lease rentals |
Loss/(profit) on foreign currency translation |
Operating lease rental | 2019 | 2018 |
£ | £ |
- plant and equipment | - | 585 |
- motor vehicles | - | 6,083 |
- land and buildings | 113,856 | 109,079 |
113,856 | 115,747 |
7. | INTEREST RECEIVABLE AND SIMILAR INCOME |
2019 | 2018 |
£ | £ |
Interest received |
Interest received on early |
paid Corporation tax |
8. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2019 | 2018 |
£ | £ |
Bank interest and charges |
9. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2019 | 2018 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax | ( |
) |
Tax on profit |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
9. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
2019 | 2018 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Expenses not deductible for tax purposes |
(Accelerated)/Decelerated capital allowances | 3,523 | (21,491 | ) |
Deferred tax movement | (7,894 | ) | 4,301 |
Total tax charge | 292,066 | 324,731 |
10. | DIVIDENDS |
2019 | 2018 |
£ | £ |
Ordinary shares of £1 each |
Final |
11. | TANGIBLE FIXED ASSETS |
Fixtures | Plant & |
Short | Plant and | and | Machinery |
leasehold | machinery | fittings | - Laboratory | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2019 |
Additions |
At 31 December 2019 |
DEPRECIATION |
At 1 January 2019 |
Charge for year |
At 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
At 31 December 2018 |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
12. | STOCKS |
2019 | 2018 |
£ | £ |
Raw materials & consumables |
Finished goods and goods for resale |
The amount of stock recognised as an expense in cost of sales in the year was £6,584,751 (2018: £6,583,338). |
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Amount owed by group undertaking |
Other debtors | 9,165 | 9,165 |
Prepayments and accrued income |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
Tax |
Other creditors, social security and other taxes |
Amount owed to group undertaking | 83,680 | 100,165 |
Accrued expenses |
15. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
16. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 111,827 | 119,721 |
ROBERTET (UK) LIMITED (REGISTERED NUMBER: 01010651) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
16. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 January 2019 |
Movement in the year | (7,894 | ) |
Balance at 31 December 2019 |
The deferred tax provision is a provision for accelerated capital allowances. |
17. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
Ordinary | £1 | 97,500 | 97,500 |
Each share is entitled to one vote in any circumstances. Each share has equal rights to dividends. Each share is entitled to |
participate in a distribution arising from a winding up of the company. |
18. | PARENT COMPANY |
The parent company is Robertet S.A. a company incorporated in France. The group's financial statements are available for inspection from Robertet S.A, Boite-Postale 100, Avenue Sidi-Brahim, Grasse 06-333, FRANCE. |