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Robert Thorne Group Limited |
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Financial Statements for the Year Ended 30 June 2016 |
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Robert Thorne Group Limited |
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Financial Statements for the Year Ended 30 June 2016 |
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Robert Thorne Group Limited |
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Company Information |
for the Year Ended 30 June 2016 |
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DIRECTOR: |
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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 |
Radnor House |
Greenwood Close |
Cardiff Gate Business Park |
Cardiff |
CF23 8AA |
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BANKERS: |
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One Kingsway |
Cardiff |
CF10 3YB |
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SOLICITORS: |
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St Andrews House |
24 St Andrews Crescent |
Cardiff |
CF10 3DD |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Robert Thorne Group Limited |
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The following reproduces the text of the report prepared for the director and members 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 Balance Sheet. Readers are cautioned that the Income |
Statement and certain other primary statements and the Report of the Director 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 Robert Thorne Group Limited for the year ended 30 June 2016 which |
comprise the Profit and Loss Account, Balance Sheet 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 at icaew.com/membershandbook. |
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This report is made solely to the director of Robert Thorne Group Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Robert Thorne Group Limited and state those matters that we have agreed to state to the director of Robert Thorne Group Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
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It is your duty to ensure that Robert Thorne Group 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 profit of Robert Thorne Group Limited. You consider that Robert Thorne Group 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 Robert Thorne Group 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 |
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Robert Thorne Group Limited (Registered number: 03156966) |
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Balance Sheet |
30 June 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors: amounts falling due within one
year |
7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Robert Thorne Group Limited (Registered number: 03156966) |
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Balance Sheet - continued |
30 June 2016 |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
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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 director on
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Robert Thorne Group Limited (Registered number: 03156966) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2016 |
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1. | STATUTORY INFORMATION |
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Robert Thorne Group Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Robert Thorne Group Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The |
company has taken the option under Section 398 of the Companies Act 2006 not to prepare |
consolidated financial statements. |
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Turnover |
Turnover represents net invoiced sale of goods, excluding value added tax. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Freehold property is not depreciated. Freehold property is maintained to ensure that their value does |
not diminish over time. The maintenance costs are charged to profit and loss in the year incurred. In |
the directors' opinion, depreciation would be immaterial and has not been charged. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Robert Thorne Group Limited (Registered number: 03156966) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets held under finance leases and hire purchase contracts, which are those where substantially all |
the risks and rewards of ownership of the asset have passed to the company, are capitalised in the |
balance sheet and depreciated over their useful lives. |
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The interest element of the rental obligations is charged to the profit and loss account over the period |
of the lease and represents a constant proportion of the balance of capital repayments outstanding. |
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Rentals paid under operating leases are charged to income on a straight line basis over the lease |
term. |
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Pension costs |
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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2015 |
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Transfer to ownership | - | - | 43,385 | 43,385 |
At 30 June 2016 |
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DEPRECIATION |
At 1 July 2015 |
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Charge for year |
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Transfer to ownership | - | - | 43,385 | 43,385 |
At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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The net book value of tangible fixed assets includes £NIL (2015 - £ 20,845 ) in respect of assets held |
under hire purchase contracts. |
Robert Thorne Group Limited (Registered number: 03156966) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2015 |
and 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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6. | STOCKS |
2016 | 2015 |
£ | £ |
Finished goods |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors & prepayments |
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Directors' loan accounts | 15,059 | 15,820 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts |
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Amounts owed to group undertakings |
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Taxes & social security costs |
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Other creditors & accruals |
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Robert Thorne Group Limited (Registered number: 03156966) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Hire purchase contracts | - | 22,731 |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 June 2016 and |
30 June 2015: |
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2016 | 2015 |
£ | £ |
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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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The directors loan account was repaid 31 August 2016. |
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11. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by Mr and Mrs R Thorne, the 100% shareholders. |