Robotmother Limited - Period Ending 2016-02-29

Registration number: 04370175

Robotmother Limited
 
  Unaudited Abbreviated Accounts
 
  Year Ended 29 February 2016
 

Robotmother Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 6

Robotmother Limited
(Registration number: 04370175 )
  Abbreviated Balance Sheet at 29 February 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					4,435,551			4,458,615
Current assets
Debtors					61,915			50,566
Cash at bank and in hand					120,970			182,298
					182,885			232,864
Creditors: Amounts falling due within one year					(130,233)			(187,293)
Net current assets					52,652			45,571
Total assets less current liabilities					4,488,203			4,504,186
Creditors: Amounts falling due after more than one year					(4,406,453)			(4,531,786)
Provisions for liabilities					(56,747)			(56,241)
Net assets/(liabilities)					25,003			(83,841)
Capital and reserves
Called up share capital		4			565,000			565,000
Share premium account					225,000			225,000
Profit and loss account					(764,997)			(873,841)
Shareholders' funds/(deficit)					25,003			(83,841)

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 1

Robotmother Limited
(Registration number: 04370175 )
  Abbreviated Balance Sheet at 29 February 2016
......... continued

For the year ending 29 February 2016 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

These abbreviated accounts were approved by the Board and authorised for issue on 16 November 2016 and signed on its behalf by:

.........................................
Mr A J Marston
Company secretary and director

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 2

Robotmother Limited
Notes to the Abbreviated Accounts Year Ended 29 February 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

At the balance sheet date, the company's liabilities no longer exceeded its assets and given both the continued financial support from the directors and the company's bankers the directors consider the going concern basis of accounting as appropriate.

Turnover

Turnover represents rent receivable during the year.

Government grants

Where a grant is made as a contribution towards expenditure on investment properties the amount of the grant is credited against the production cost of the asset, with a consequent reduction in the annual charge for depreciation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

The company reviewed it's depreciation policies and determined that no depreciation is required in respect of property due to the estimated residual value being in excess of the net book value.

Asset class	Depreciation method and rate
Fixtures and Fittings	15% reducing balance method
Computer equipment	25% straight line basis
Solar Power	10% straight line basis
Freehold and leasehold property and office barge	No depreciation charged as referred to above

Investment properties

Page 3

Robotmother Limited
Notes to the Abbreviated Accounts Year Ended 29 February 2016
......... continued

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Robotmother Limited
Notes to the Abbreviated Accounts Year Ended 29 February 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2015		4,500,262			4,500,262
Additions		18,741			18,741
Grant funding		(25,998)			(25,998)
At 29 February 2016		4,493,005			4,493,005
Depreciation
At 1 March 2015		41,647			41,647
Charge for the year		15,807			15,807
At 29 February 2016		57,454			57,454
Net book value
At 29 February 2016		4,435,551			4,435,551
At 28 February 2015		4,458,615			4,458,615

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		34,000			34,000
Amounts falling due after more than one year		379,933			413,305
Total secured creditors		413,933			447,305

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		267,626			292,243
After more than five years not by instalments		235,733			257,933
		503,359			550,176

Page 5

Robotmother Limited
Notes to the Abbreviated Accounts Year Ended 29 February 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		565,000			565,000			565,000			565,000

5

Control

The company is controlled by Mr A J and Mrs A E Marston and Mr A J Marston's father who own 100% of the company's issued share capital.

Page 6