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Unaudited Financial Statements |
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for the Year Ended 30 April 2020 |
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for |
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Robson Garages Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2020 |
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for |
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Robson Garages Limited |
Robson Garages Limited (Registered number: 04410625) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2020 |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 10 |
Robson Garages Limited |
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Company Information |
for the Year Ended 30 April 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
18 St Christopher's Way |
Pride Park |
Derby |
DE24 8JY |
Robson Garages Limited (Registered number: 04410625) |
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Abridged Statement of Financial Position |
30 April 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Property, plant and equipment | 6 |
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Investments | 7 |
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CURRENT ASSETS |
Inventories |
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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 |
Called up share capital | 10 |
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Fair value reserve | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Robson Garages Limited (Registered number: 04410625) |
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Abridged Statement of Financial Position - continued |
30 April 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Robson Garages Limited (Registered number: 04410625) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2020 |
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1. | STATUTORY INFORMATION |
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Robson Garages Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors have assessed the balance sheet and likely future cash flows at the date of approving these financial statements. |
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The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. |
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Since the end of the year under review, the COVID-19 pandemic has become a significant emerging risk to the global economy. The directors continue to monitor the impact on the business on an ongoing basis. |
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At the time of approving these financial statements, the directors do not consider COVID-19 to impact the company's ability to continue as a going concern and considers the balance sheet to be appropriately valued. The directors note this is a non-adjusting post balance sheet event. |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its remaining estimated useful life of five years from 2015. |
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Tangible fixed assets |
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Short leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Government grants |
Government grants have been recognised within the financial statements following receipt of the government assistance. |
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Inventories |
Inventories have been valued at the lower of cost and estimated selling price less costs to sell. |
Robson Garages Limited (Registered number: 04410625) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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3. | ACCOUNTING POLICIES - continued |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Investments |
Listed investments are reflected in the financial statements at fair value. Any changes in the fair value are taken to the fair value reserve account. Deferred taxation is provided on the changes in fair value at the current rate. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Robson Garages Limited (Registered number: 04410625) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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5. | INTANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 May 2019 |
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Additions |
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At 30 April 2020 |
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AMORTISATION |
At 1 May 2019 |
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Amortisation for year |
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At 30 April 2020 |
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NET BOOK VALUE |
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At 30 April 2020 |
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At 30 April 2019 |
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6. | PROPERTY, PLANT AND EQUIPMENT |
Totals |
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COST |
At 1 May 2019 |
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Additions |
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Disposals | ( |
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At 30 April 2020 |
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DEPRECIATION |
At 1 May 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 April 2020 |
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NET BOOK VALUE |
At 30 April 2020 |
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At 30 April 2019 |
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Robson Garages Limited (Registered number: 04410625) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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7. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST OR VALUATION |
At 1 May 2019 | 301,900 |
Additions | 5,166 |
Disposals | (5,911 | ) |
Revaluations | (12,550 | ) |
At 30 April 2020 | 288,605 |
NET BOOK VALUE |
At 30 April 2020 | 288,605 |
At 30 April 2019 | 301,900 |
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Cost or valuation at 30 April 2020 is represented by: |
Totals |
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Valuation in 2018 | 4,176 |
Valuation in 2019 | 13,913 |
Valuation in 2020 | (12,550 | ) |
Cost | 283,066 |
288,605 |
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If fixed asset investments had not been revalued they would have been included at the following historical cost: |
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2020 | 2019 |
£ | £ |
Cost | 283,066 | 283,811 |
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Fixed asset investments were valued on an open market basis on 30 April 2020 by Scrimger & Oakes . |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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Robson Garages Limited (Registered number: 04410625) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Trade creditors | 26,015 | 73,980 |
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Trade creditors include a balance of £26,015 which is secured by the Burnmoor site, which is owned personally by the director and shareholder Mr C J Robson. |
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The company's bankers have a right to set-off arrangements, in order to secure the company's overdraft facility. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 May 2019 |
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Reserves transfer | (10,527 | ) |
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At 30 April 2020 |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 April 2020 and 30 April 2019: |
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2020 | 2019 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Robson Garages Limited (Registered number: 04410625) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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During the year, the company provided a loan facility to the directors. |
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All amounts outstanding are unsecured, with interest charged at a rate of 2.5%, and have no fixed repayment date. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Robson Garages Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Robson Garages Limited for the year ended 30 April 2020 which comprise the Income Statement, Abridged Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Robson Garages Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Robson Garages Limited and state those matters that we have agreed to state to the Board of Directors of Robson Garages Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Robson Garages Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Robson Garages Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Robson Garages Limited. You consider that Robson Garages Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Robson Garages Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
18 St Christopher's Way |
Pride Park |
Derby |
DE24 8JY |
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