Registration number:
Robert Smith Limited
for the Year Ended 31 August 2021
Robert Smith Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Robert Smith Limited
Company Information
Directors |
Mr Robert Lee Smith Mrs Tacy Susan Smith |
Company secretary |
Mrs Tacy Susan Smith |
Registered office |
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Accountants |
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Robert Smith Limited
(Registration number: 04059815)
Balance Sheet as at 31 August 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 Account has been taken.
Approved and authorised by the
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Mr Robert Lee Smith
Director
Robert Smith Limited
Notes to the Financial Statements for the Year Ended 31 August 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
The Stables
Carnaquidden
Newmill
Penzance
Cornwall
TR20 8XA
England
These financial statements were authorised for issue by the
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.
Going concern
The directors have assessed the impact of the Covid-19 pandemic on the company. Whilst there is a temporary disruption to trade, the directors consider that there is no reason that the company will not continue as a going concern for the foreseeable future
Tangible assets
Tangible assets are stated in the balance sheet 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.
Robert Smith Limited
Notes to the Financial Statements for the Year Ended 31 August 2021
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 |
Storage cabin |
15% reducing balance |
Fixtures and fittings |
20% reducing balance |
Office equipment |
33.3% 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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
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.
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.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Robert Smith Limited
Notes to the Financial Statements for the Year Ended 31 August 2021
Tangible assets |
Furniture, fittings and equipment |
Storage cabin |
Total |
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Cost or valuation |
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At 1 September 2020 |
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Additions |
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At 31 August 2021 |
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Depreciation |
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At 1 September 2020 |
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Charge for the year |
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At 31 August 2021 |
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Carrying amount |
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At 31 August 2021 |
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At 31 August 2020 |
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Debtors |
2021 |
2020 |
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Trade debtors |
- |
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Prepayments |
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- |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Robert Smith Limited
Notes to the Financial Statements for the Year Ended 31 August 2021
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Related party transactions |
Transactions with director |
2021 |
At 1 September 2020 |
Advances to director |
Repayments by director |
At 31 August 2021 |
Mr Robert Lee Smith |
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Interest-free loan, repayable on demand |
14,222 |
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( |
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2020 |
At 1 September 2019 |
Advances to director |
Repayments by director |
At 31 August 2020 |
Mr Robert Lee Smith |
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Interest-free loan, repayable on demand |
17,210 |
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( |
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Directors' remuneration
The directors' remuneration for the year was as follows:
2021 |
2020 |
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Remuneration |
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