Company No: 01605620 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2023		2022
		£		£
Fixed assets
Tangible assets	3	1,192,335		1,089,187
		1,192,335		1,089,187
Current assets
Stocks		621,202		664,613
Debtors	4	2,542,230		620,708
Cash at bank and in hand		219,822		1,682,066
		3,383,254		2,967,387
Creditors: amounts falling due within one year	5	( 382,569)		( 368,554)
Net current assets		3,000,685		2,598,833
Total assets less current liabilities		4,193,020		3,688,020
Creditors: amounts falling due after more than one year	6	( 129,237)		( 138,497)
Provision for liabilities		( 191,926)		( 242,570)
Net assets		3,871,857		3,306,953
Capital and reserves
Called-up share capital	7	10,000		10,000
Profit and loss account		3,861,857		3,296,953
Total shareholders' funds		3,871,857		3,306,953

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Roberts (Bath) Limited (registered number: 01605620) were approved and authorised for issue by the Board of Directors on 23 April 2024. They were signed on its behalf by:

D G E Roberts Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Roberts (Bath) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Westway Garage, Marksbury, Bath, BA2 9HN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer and legal title is passed.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	20 % reducing balance
Leasehold improvements	depreciated over the life of the lease
Vehicles	25 % reducing balance
Fixtures and fittings	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. 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. Provision is made for obsolete, slow-moving or defective items where appropriate.

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

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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 of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet 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.

2. Employees

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		10

3. Tangible assets

	Land and buildings		Leasehold improve- ments		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 August 2022	79,847		38,646		2,085,416		151,940		2,355,849
Additions	0		9,285		606,828		1,918		618,031
Disposals	0		0		( 294,039)		0		( 294,039)
At 31 July 2023	79,847		47,931		2,398,205		153,858		2,679,841
Accumulated depreciation
At 01 August 2022	78,969		1,967		1,043,859		141,867		1,266,662
Charge for the financial year	176		7,589		382,041		1,722		391,528
Disposals	0		0		( 170,684)		0		( 170,684)
At 31 July 2023	79,145		9,556		1,255,216		143,589		1,487,506
Net book value
At 31 July 2023	702		38,375		1,142,989		10,269		1,192,335
At 31 July 2022	878		36,679		1,041,557		10,073		1,089,187
Leased assets included above:
Net book value
At 31 July 2023	0		0		181,839		0		181,839
At 31 July 2022	0		0		210,394		0		210,394

4. Debtors

	2023		2022
	£		£
Trade debtors	68,508		54,480
Amounts owed by related parties	2,429,939		465,006
Prepayments and accrued income	37,922		85,648
VAT recoverable	5,861		0
Other debtors	0		15,574
	2,542,230		620,708

5. Creditors: amounts falling due within one year

	2023		2022
	£		£
Bank loans	16,643		22,940
Trade creditors	155,479		37,463
Amounts owed to directors	903		1,457
Accruals	5,122		5,505
Corporation tax	145,094		138,435
Other taxation and social security	2,221		28,251
Obligations under finance leases and hire purchase contracts (secured)	56,760		83,223
Other creditors	347		51,280
	382,569		368,554

Bank loans with a carrying value of £10,000 (2022 - £10,000) are guaranteed by Government under the Bounce Back Loan Scheme.

Hire purchase liabilities with a carrying value of £56,760 (2022 - £83,223 ) are secured on the assets to which they relate.

6. Creditors: amounts falling due after more than one year

	2023		2022
	£		£
Bank loans (secured)	19,167		29,167
Obligations under finance leases and hire purchase contracts (secured)	110,070		109,330
	129,237		138,497

Bank loans with a carrying value of £19,167 (2022 - £29,167 ) are guaranteed by Government under the Bounce Back Loan Scheme.

Hire purchase liabilities with a carrying value of £110,070 (2022 - £109,330) are secured on the assets to which they relate.

7. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each	10,000		10,000

8. Related party transactions

Other related party transactions

At the year end the Company was owed £2,429,939 (2022 - £465,006) from a company connected by virtue of common directorship. Interest is charged on the loan at 2% (2022 - 2%) and is repayable on demand.