REGISTERED NUMBER: SC213810 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

A & M Robinson Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L W Robinson

Mrs L Cook

Mrs M H M Robinson

SECRETARY:

Mrs L Cook

REGISTERED OFFICE:

1008 Pollokshaws Road

Shawlands

Glasgow

G41 2HG

REGISTERED NUMBER:

SC213810 (Scotland)

ACCOUNTANTS:

Campbell Dallas Limited

Accountants

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

347,423

348,606

347,423

348,606

CURRENT ASSETS

Stocks

7

113,250

98,500

Debtors

8

68,058

149,735

Cash at bank and in hand

213,784

401,259

395,092

649,494

CREDITORS

Amounts falling due within one year

9

44,503

107,911

NET CURRENT ASSETS

350,589

541,583

TOTAL ASSETS LESS CURRENT LIABILITIES

698,012

890,189

PROVISIONS FOR LIABILITIES

11

34,694

36,641

NET ASSETS

663,318

853,548

CAPITAL AND RESERVES

Called up share capital

12

100

100

Fair value reserve

13

208,326

207,449

Retained earnings

13

454,892

645,999

SHAREHOLDERS' FUNDS

663,318

853,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 December 2017 and were signed on its behalf by:

L W Robinson - Director

1.	STATUTORY INFORMATION

A & M Robinson Limited is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the pound sterling (£).

Monetary amounts in these financial statements are rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company transitioned to FRS 102 from previously extant UK GAAP as at 01 April 2015. The

reported financial position and financial performance for the previous period are not affected by the

transition to FRS 102.

Significant judgements and estimates

The preparation of Financial Statements required management to make judgements, estimates and

assumptions that affect the application of accounting policies and reported amounts of assets,

liabilities, income and expenses. Actual results may differ from these estimates. Estimates and

assumptions are reviewed on an ongoing basis and revisions to estimates are recognised in the period

in which the estimate is revised and in any future periods affected.

The estimates, assumptions and judgements that have a significant risk of causing a material

adjustment to the carrying amount of assets and liabilities within the financial statements within the

next financial year are addressed below:

Freehold property valuations

Freehold property is included at fair value. A review of the carrying value is undertaken at each

balance sheet date and any movement in value adjusted accordingly.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

25% on cost

Freehold property is included at fair value. Gains are recognised in the income statement. Deferred

tax is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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.

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.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2016 - 18 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

22,500

AMORTISATION

At 1 April 2016

and 31 March 2017

22,500

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 1 April 2016

300,000

100,986

3,693

Additions

-

218

4,824

At 31 March 2017

300,000

101,204

8,517

DEPRECIATION

At 1 April 2016

-

73,500

2,921

Charge for year

-

4,155

840

At 31 March 2017

-

77,655

3,761

NET BOOK VALUE

At 31 March 2017

300,000

23,549

4,756

At 31 March 2016

300,000

27,486

772

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 April 2016

26,664

13,246

444,589

Additions

-

2,936

7,978

At 31 March 2017

26,664

16,182

452,567

DEPRECIATION

At 1 April 2016

7,400

12,162

95,983

Charge for year

2,890

1,276

9,161

At 31 March 2017

10,290

13,438

105,144

NET BOOK VALUE

At 31 March 2017

16,374

2,744

347,423

At 31 March 2016

19,264

1,084

348,606

The property has been valued at open market value at the year end by a qualified chartered surveyor.

If freehold property had not been revalued it would have been included at the following historical

cost:

£

Cost

88,081

Aggregate Depreciation

23,720

7.

STOCKS

2017

2016

£

£

Stocks

113,250

98,500

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

47,083

82,231

Directors' current accounts

5,293

59,613

Tax

6,255

494

Prepayments and accrued income

9,427

7,397

68,058

149,735

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

10,164

1,327

Tax

124

49,294

Social security and other taxes

-

6,117

VAT

19,412

25,401

Directors' current accounts

680

-

Accrued expenses

14,123

25,772

44,503

107,911

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

7,705

-

Between one and five years

-

10,278

7,705

10,278

11.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

34,694

36,641

Deferred

tax

£

Balance at 1 April 2016

36,641

Accelerated capital allowances

(1,069

)

Fair value gain

(878

)

Balance at 31 March 2017

34,694

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

13.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2016

645,999

207,449

853,448

Deficit for the year

(21,810

)

(21,810

)

Dividends

(168,420

)

(168,420

)

Reserves transfer

(877

)

877

-

At 31 March 2017

454,892

208,326

663,218

Fair value reserve: this reserve records the value of freehold property revaluations and fair value

movements recognised in the income statement net of deferred tax provisions. It is a

non-distributable reserve.

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

L W Robinson

Balance outstanding at start of year

4,842

4,842

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,842

4,842

Mrs L Cook

Balance outstanding at start of year

451

451

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

451

451

Mrs M H M Robinson

Balance outstanding at start of year

54,320

-

Amounts advanced

-

55,000

Amounts repaid

(55,000

)

(680

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(680

)

54,320

15.	RELATED PARTY DISCLOSURES

Other related parties under common control

2017

2016

£

£

Dividends paid to related parties

168,420

168,420

Rents paid to related parties

14,400

14,400

16.	FIRST YEAR ADOPTION

For all periods up to and including the year ended 31 March 2016, the Company prepared its

financial statements in accordance with previously exant United Kingdom generally accepted

accounting practice (UK GAAP). These financial statements, for the year ended 31 March 2017, are

the first year the Company has prepared in accordance with FRS102. The significant accounting

policies in meeting those requirements are described in relevant notes.

In preparing these financial statements, the Company started from an opening balance sheet at the

Company's date of transition to FRS 102, and made those changes in accounting policies and other

restatements required for the first-time adoption of FRS 102. There has been no material impact to

the Company's financial position, results or cashflows as a result of restating its financial statements.