L J Robson (Contracts) Limited - Period Ending 2018-04-30

L J Robson (Contracts) Limited - Period Ending 2018-04-30


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Registration number: 06212870

L J Robson (Contracts) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2018

Smith Butler
Chartered Certified Accountants
10 Mercury Quays
Ashley Lane
Shipley
Bradford
West Yorkshire
BD17 7DB

 

L J Robson (Contracts) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

L J Robson (Contracts) Limited

Company Information

Director

Mr Lyndon James Robson

Company secretary

Mrs Deborah J Robson

Registered office

10 Mercury Quays
Ashley Lane
Shipley
West Yorkshire
BD17 7DB

Accountants

Smith Butler
Chartered Certified Accountants
10 Mercury Quays
Ashley Lane
Shipley
Bradford
West Yorkshire
BD17 7DB

 

L J Robson (Contracts) Limited

(Registration number: 06212870)
Balance Sheet as at 30 April 2018

Note

2018
£

2017
£

Fixed assets

 

Intangible assets

4

10,000

10,000

Current assets

 

Stocks

6

550

780

Cash at bank and in hand

 

2,638

1,640

 

3,188

2,420

Creditors: Amounts falling due within one year

7

(10,068)

(11,465)

Net current liabilities

 

(6,880)

(9,045)

Net assets

 

3,120

955

Capital and reserves

 

Called up share capital

8

2

2

Profit and loss account

3,118

953

Total equity

 

3,120

955

For the financial year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 3 December 2018
 

.........................................

Mr Lyndon James Robson
Director

 

L J Robson (Contracts) Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Mercury Quays
Ashley Lane
Shipley
West Yorkshire
BD17 7DB
United Kingdom

The principal place of business is:
582 Hunsworth Lane
East Bierley
Bradford
BD4 6PU

These financial statements were authorised for issue by the director on 3 December 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

L J Robson (Contracts) Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

33% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

0% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

L J Robson (Contracts) Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2017 - 1).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2017

10,000

10,000

At 30 April 2018

10,000

10,000

Amortisation

Carrying amount

At 30 April 2018

10,000

10,000

At 30 April 2017

10,000

10,000

The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2017 - £Nil).
 

 

L J Robson (Contracts) Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2017

133

133

At 30 April 2018

133

133

Depreciation

At 1 May 2017

133

133

At 30 April 2018

133

133

Carrying amount

At 30 April 2018

-

-

6

Stocks

2018
£

2017
£

Other inventories

550

780

7

Creditors

Creditors: amounts falling due within one year

2018
£

2017
£

Due within one year

Taxation and social security

372

179

Accruals and deferred income

480

480

Other creditors

9,216

10,806

10,068

11,465

8

Share capital

Allotted, called up and fully paid shares

 

L J Robson (Contracts) Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

 

2018

2017

 

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2

         

9

Dividends

   

2018

 

2017

   

£

 

£

Interim dividend of £7,000.00 (2017 - £7,000.00) per ordinary share

 

14,000

 

14,000

10

Related party transactions

Transactions with directors

2018

At 1 May 2017
£

Advances to directors
£

Repayments by director
£

At 30 April 2018
£

Mr Lyndon James Robson

(6,424)

40,001

(39,000)

(5,423)

         
       

 

2017

At 1 May 2016
£

Advances to directors
£

Repayments by director
£

At 30 April 2017
£

Mr Lyndon James Robson

(7,236)

32,800

(31,988)

(6,424)

         
       

 

Directors' remuneration

The director's remuneration for the year was as follows:

2018
£

2017
£

Remuneration

11,529

11,446

Dividends paid to directors

 

2018
£

2017
£

Mr Lyndon James Robson

   

14,000

14,000