Robson Asset Management Manco Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07653972 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

ROBSON ASSET MANAGEMENT MANCO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

J G Robson

REGISTERED OFFICE:

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

REGISTERED NUMBER:

07653972 (England and Wales)

ACCOUNTANTS:

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

CURRENT ASSETS

Debtors

4

2,047,709

2,018,751

Cash at bank

6,677

1,450

2,054,386

2,020,201

CREDITORS

Amounts falling due within one year

5

1,891,189

1,784,016

NET CURRENT ASSETS

163,197

236,185

TOTAL ASSETS LESS CURRENT LIABILITIES

163,197

236,185

CREDITORS

Amounts falling due after more than one year

6

42,094

-

NET ASSETS

121,103

236,185

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

121,102

236,184

121,103

236,185

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 February 2023 and were signed by:

J G Robson - Director

1.	STATUTORY INFORMATION

Robson Asset Management Manco 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.

The comparative financial information was for an 18-month period ended 30 September 2020.

The presentation currency of the financial statements is the Pound Sterling (£).

Going Concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Revenue

Revenue represents net sales of hotel management services and excludes Value Added Tax. Revenue is recognised upon delivery of services to the customer.

Government grants

Government grants are recognised when there is reasonable assurance that the entity will comply with the

conditions of the grant and the grant will be received.

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants which become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Finance costs

Finance costs are charged to the Statement of income and retained earnings 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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade debtors

16,236

32,826

Amounts owed by group undertakings

1,963,887

1,957,707

Other debtors

67,586

28,218

2,047,709

2,018,751

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans and overdrafts

7,906

-

Trade creditors

247,527

245,482

Amounts owed to group undertakings

498,779

504,164

Taxation and social security

11,862

38,798

Other creditors

1,125,115

995,572

1,891,189

1,784,016

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans

42,094

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,769

-

7.	CONTINGENT ASSETS

The company is in dispute with third parties (who are related to one another) in respect of management fees and loans due to it ('contingent assets'). This dispute is subject to legal action. The company believes it has a strong case against the related third parties but, as is the case with most disputes which are the subject of legal action, it is not possible to predict with certainty the outcome. The company believes, however, it is possible the dispute will be settled in its favour and it may receive in time the benefit of the contingent assets.

8.	RELATED PARTY DISCLOSURES

At the period end the company was owed £1,963,887 (2020: £1,957,707) by Robson Asset Management International LLP, its direct parent undertaking. This amount is included within amounts owed by group undertakings.

At the period end, the company was owed £6,360 (2020: £Nil) by RAM JV LLP, an LLP in which a director is also a designated member. This balance is included within other debtors.

At the period end the company was owed £1,500 (2020: £nil) by RAM Alpine Management Company Limited, a company in which a director is also a director. This balance is included within other debtors.

At the period end the company owed £498,779 (2020: £504,164) to Robson Asset Management Limited, a company in which the director has control. This amount is included within amounts owed to group undertakings.

At the period end the company owed £168,339 (2019: was owed £14,539) to the director. This balance is included within other creditors. No interest has been charged during the period.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Robson Asset Management Manco Limited for the year ended 30 September 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Robson Asset Management Manco Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Robson Asset Management Manco Limited and state those matters that we have agreed to state to the director of Robson Asset Management Manco Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Robson Asset Management Manco Limited and its director for our work or for this report.

It is your duty to ensure that Robson Asset Management Manco Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Robson Asset Management Manco Limited. You consider that Robson Asset Management Manco Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Robson Asset Management Manco Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

6 February 2023