Robust Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09625909 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2021

FOR

ROBUST MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms 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

3

735,142

750,062

CURRENT ASSETS

Debtors

4

8,954

3,921

Cash at bank

-

7,103

8,954

11,024

CREDITORS

Amounts falling due within one year

5

517,973

501,331

NET CURRENT LIABILITIES

(509,019

)

(490,307

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

226,123

259,755

CREDITORS

Amounts falling due after more than one
year

6

251,161

275,692

NET LIABILITIES

(25,038

)

(15,937

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(25,039

)

(15,938

)

SHAREHOLDERS' FUNDS

(25,038

)

(15,937

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 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 10 February 2022 and were signed on its behalf by:

Ms S Prasad - Director

1.	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.

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.

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

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

3.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 July 2020

and 30 June 2021

820,991

DEPRECIATION

At 1 July 2020

70,929

Charge for year

14,920

At 30 June 2021

85,849

NET BOOK VALUE

At 30 June 2021

735,142

At 30 June 2020

750,062

Included in cost of land and buildings is freehold land of £ 75,000 (2020 - £ 75,000 ) which is not depreciated.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Other debtors

8,954

3,921

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Bank loans and overdrafts

21,252

21,117

Trade creditors

19,129

6,538

Amounts owed to group undertakings

435,010

Taxation and social security

5,224

6,666

Other creditors

37,358

32,000

517,973

501,331

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2021

2020

£

Bank loans

251,161

275,692

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

166,693

191,224

7.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

Bank loans

272,278

296,809

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.

8.	RELATED PARTY DISCLOSURES

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

At the year end £435,010 (2020: £435,010) was due to the company's parent, Robust Limited.

At the year end £1,509 (2020: £nil) was due from Halcyon International Group Limited, a company which Ms S Prasad is also a director.

9.	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