Roberts (Bath) Limited Accounts

ROBERTS (BATH) LIMITED - Company Information






Roberts (Bath) Limited

	Company No. 01605620
		Information for Filing with The Registrar
		31 July 2020

at	31 July 2020
Company No.		01605620	Notes	2020	2019
				£	£
Fixed assets

	Tangible assets		4	570,554	621,828


				570,554	621,828
Current assets
	Stocks		5	364,618	340,451
	Debtors		6	1,443,927	1,320,378

	Cash at bank and in hand			140,904	110,432
				1,949,449	1,771,261
Creditors: Amount falling due within one year			7	(202,597)	(267,028)
Net current assets				1,746,852	1,504,233
Total assets less current liabilities				2,317,406	2,126,061
Creditors: Amounts falling due after more than one year			8	(140,961)	(256,523)
Provisions for liabilities
	Deferred taxation		9	(75,043)	(78,599)

Net assets				2,101,402	1,790,939

Capital and reserves
	Called up share capital			10,000	10,000



	Profit and loss account		10	2,091,402	1,780,939

Total equity				2,101,402	1,790,939



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 July 2020 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 30 April 2021
And signed on its behalf by:
D.G.E. Roberts
Director
30 April 2021

for the year ended 31 July 2020

General information

Its registered number is: 01605620

Its registered office is:

Westway Garage

Marksbury

BATH

BA2 9HN

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Freehold buildings

20% reducing balance

Motor vehicles

25% reducing balance

Furniture, fittings and equipment

15% reducing balance

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Defined contribution pensions

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 payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3	Employees
			2020	2019
			Number	Number
		The average monthly number of employees (including directors) during the year was:	9	9

4	Tangible fixed assets
			Land and buildings	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£
		Cost or revaluation
		At 1 August 2019	79,847	1,351,327	149,577	1,580,751
		Additions	-	186,286	-	186,286


		Disposals	-	(147,444)	-	(147,444)
		At 31 July 2020	79,847	1,390,169	149,577	1,619,593
		Depreciation
		At 1 August 2019	78,133	743,768	137,022	958,923
		Charge for the year	343	186,175	1,883	188,401


		Disposals	-	(98,285)	-	(98,285)
		At 31 July 2020	78,476	831,658	138,905	1,049,039
		Net book values
		At 31 July 2020	1,371	558,511	10,672	570,554
		At 31 July 2019	1,714	607,559	12,555	621,828

5	Stocks
			2020	2019
			£	£
		Raw materials and consumables	49,142	81,262

		Finished goods	315,476	259,189
			364,618	340,451

6	Debtors
			2020	2019
			£	£
		Trade debtors	11,786	29,738



		VAT recoverable	-	10,906
		Loans to directors	31,320	-
		Other debtors	1,400,821	1,279,734

			1,443,927	1,320,378

7	Creditors:
		amounts falling due within one year
			2020	2019
			£	£

		Bank loans and overdrafts	33,058	11,037

		Obligations under finance lease and hire purchase contracts	7,765	62,292
		Trade creditors	63,397	67,664

		Corporation tax	77,331	84,121
		Other taxes and social security	15,348	-
		Loans from directors	1,402	2,873
		Other creditors	298	258
		Accruals and deferred income	3,998	38,783
			202,597	267,028

8	Creditors:
		amounts falling due after more than one year
			2020	2019
			£	£

		Bank loans and overdrafts	49,063	-

		Obligations under finance lease and hire purchase contracts	91,898	256,523




			140,961	256,523

9	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 August 2019	78,599	78,599
		Charge to the profit and loss account for the period	(3,556)	(3,556)

		At 31 July 2020	75,043	75,043



			2020	2019
			£	£
		Accelerated capital allowances	75,043	78,599



			75,043	78,599

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.