The Robinson White Partnership Limited - Period Ending 2019-04-30

The Robinson White Partnership Limited - Period Ending 2019-04-30


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COMPANY REGISTRATION NUMBER: 04034283

The Robinson White Partnership Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2019

Peplows Limited
Chartered Accountants
Moorgate House
King Street
Newton Abbot
Devon
TQ12 2LG

 

The Robinson White Partnership Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

The Robinson White Partnership Limited

Company Information

Directors

Mr N J Brissenden

Mr P D Robinson

Mr M J White

Registered office

6 Bridle Close
Kingston Upon Thames
Surrey
KT1 2JW

Accountants

Peplows Limited
Chartered Accountants
Moorgate House
King Street
Newton Abbot
Devon
TQ12 2LG

 

The Robinson White Partnership Limited

(Registration number: 04034283)
Balance Sheet as at 30 April 2019

Note

2019
 £

2018
 £

Fixed assets

 

Intangible assets

4

150,000

187,500

Tangible assets

5

5,497

5,289

 

155,497

192,789

Current assets

 

Stocks

20,000

20,000

Debtors

6

161,913

270,405

Cash at bank and in hand

 

132,860

105,818

 

314,773

396,223

Creditors: Amounts falling due within one year

7

(138,924)

(186,884)

Net current assets

 

175,849

209,339

Total assets less current liabilities

 

331,346

402,128

Provisions for liabilities

(699)

(584)

Net assets

 

330,647

401,544

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

329,647

400,544

Total equity

 

330,647

401,544

 

The Robinson White Partnership Limited

(Registration number: 04034283)
Balance Sheet as at 30 April 2019

For the financial year ending 30 April 2019 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 has been taken.

Approved and authorised for issue by the Board on 3 December 2019 and signed on its behalf by:
 

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

Mr P D Robinson
Director

 

The Robinson White Partnership Limited

Notes to the Financial Statements for the Year Ended 30 April 2019

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:
6 Bridle Close
Kingston Upon Thames
Surrey
KT1 2JW

These financial statements were authorised for issue by the Board on 3 December 2019.

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.

The financial statements are presented in Sterling and rounded to the nearest full £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when invoices are raised to the customers.

 

The Robinson White Partnership Limited

Notes to the Financial Statements for the Year Ended 30 April 2019

Tax

The tax expense for the period comprises current and deferred 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.

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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

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

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, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Furniture, fittings and equipment

20% straight line

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. Goodwill is held in the currency of the acquired entity. Goodwill is amortised over its useful life.

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

20 years straight line

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.

 

The Robinson White Partnership Limited

Notes to the Financial Statements for the Year Ended 30 April 2019

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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.

Trade creditors are recognised at the transaction price.

Borrowings

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

The borrowings are interest free and have no set date for repayment.

Share capital

Ordinary shares are classified as equity.

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 directors) during the year, was 9 (2018 - 13).

 

The Robinson White Partnership Limited

Notes to the Financial Statements for the Year Ended 30 April 2019

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2018

750,000

750,000

At 30 April 2019

750,000

750,000

Amortisation

At 1 May 2018

562,500

562,500

Amortisation charge

37,500

37,500

At 30 April 2019

600,000

600,000

Carrying amount

At 30 April 2019

150,000

150,000

At 30 April 2018

187,500

187,500

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2018

68,253

100

68,353

Additions

1,524

-

1,524

At 30 April 2019

69,777

100

69,877

Depreciation

At 1 May 2018

62,964

100

63,064

Charge for the year

1,316

-

1,316

At 30 April 2019

64,280

100

64,380

Carrying amount

At 30 April 2019

5,497

-

5,497

At 30 April 2018

5,289

-

5,289

 

The Robinson White Partnership Limited

Notes to the Financial Statements for the Year Ended 30 April 2019

6

Debtors

2019
£

2018
£

Trade debtors

124,782

233,348

Other debtors

37,131

37,057

Total current trade and other debtors

161,913

270,405

7

Creditors

Creditors: amounts falling due within one year

Note

2019
£

2018
£

Due within one year

 

Loans and borrowings

8

12,225

12,225

Trade creditors

 

31,069

38,207

Taxation and social security

 

25,868

44,649

Accruals and deferred income

 

16,228

15,985

Other creditors

 

53,534

75,818

 

138,924

186,884

8

Loans and borrowings

2019
£

2018
£

Current loans and borrowings

Other borrowings

12,225

12,225

 

The Robinson White Partnership Limited

Notes to the Financial Statements for the Year Ended 30 April 2019

9

Share capital

Allotted, called up and fully paid shares

 

2019

2018

 

No.

£

No.

£

Ordinary A shares of £1 each

370

370

370

370

Ordinary B shares of £1 each

370

370

370

370

Ordinary C shares of £1 each

200

200

200

200

Ordinary D shares of £1 each

60

60

60

60

 

1,000

1,000

1,000

1,000

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £55,000 (2018 - £75,000). The above financial commitments, not included in the balance sheet, relate to operating lease commitments. These commitments represent the total rent payable on the company premises which are payable over the next 4 years.

11

Related party transactions

Transactions with directors

2019

At 1 May 2018
£

Advances to directors
£

Repayments by director
£

At 30 April 2019
£

 

Directors loan - (Interest free)

(12,225)

215,572

(215,572)

(12,225)