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REGISTERED NUMBER: 02073091 (England and Wales)









RUSHOUTER LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD

29 MARCH 2020 TO 26 MARCH 2021






RUSHOUTER LIMITED (REGISTERED NUMBER: 02073091)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 MARCH 2020 TO 26 MARCH 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RUSHOUTER LIMITED

COMPANY INFORMATION
FOR THE PERIOD 29 MARCH 2020 TO 26 MARCH 2021







DIRECTORS: A L Gretton
J A Gretton
S C Gretton





SECRETARY: S C Gretton





REGISTERED OFFICE: Churchgate House
Church Road
Whitchurch
Cardiff
CF14 2DX





REGISTERED NUMBER: 02073091 (England and Wales)

RUSHOUTER LIMITED (REGISTERED NUMBER: 02073091)

BALANCE SHEET
26 MARCH 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,581 72,672

CURRENT ASSETS
Stocks 5 7,000 25,000
Debtors 6 38,435 26,775
Cash at bank and in hand 89,755 39,278
135,190 91,053
CREDITORS
Amounts falling due within one year 7 319,093 272,096
NET CURRENT LIABILITIES (183,903 ) (181,043 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(124,322

)

(108,371

)

CREDITORS
Amounts falling due after more than one
year

8

90,271

30,465
NET LIABILITIES (214,593 ) (138,836 )

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 (214,693 ) (138,936 )
SHAREHOLDERS' FUNDS (214,593 ) (138,836 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 26 March 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 26 March 2021 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.

RUSHOUTER LIMITED (REGISTERED NUMBER: 02073091)

BALANCE SHEET - continued
26 MARCH 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 19 August 2022 and were signed on its behalf by:





S C Gretton - Director


RUSHOUTER LIMITED (REGISTERED NUMBER: 02073091)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 MARCH 2020 TO 26 MARCH 2021

1. STATUTORY INFORMATION

RUSHOUTER LIMITED is a private company, limited by shares , registered in England and Wales. 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 (£).


2. ACCOUNTING POLICIES

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

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with the continuing support of its shareholders, creditors and other stakeholders.

The directors have considered the ongoing impact of Covid-19 on the operations of the entity and the entities ability to continue as a going concern. The directors have and continue to take a number of actions to financially safeguard the company and minimize the effects of the Covid 19.

At the date of approving the financial statements the Directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Revenue is recognised when bar and food products are served to customers.
Slot machines sales are recognised at net proceeds taken from the machines after deducting gaming duty.

RUSHOUTER LIMITED (REGISTERED NUMBER: 02073091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 MARCH 2020 TO 26 MARCH 2021

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over term of lease
Improvements to property - Over term of lease
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 period 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.

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.

RUSHOUTER LIMITED (REGISTERED NUMBER: 02073091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 MARCH 2020 TO 26 MARCH 2021

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Government Grants
Government grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions are recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised with deferred income.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets are liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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.

RUSHOUTER LIMITED (REGISTERED NUMBER: 02073091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 MARCH 2020 TO 26 MARCH 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2020 - 22 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and Computer
leasehold property fittings equipment Totals
£    £    £    £    £   
COST
At 29 March 2020
and 26 March 2021 11,043 141,295 578,047 6,406 736,791
DEPRECIATION
At 29 March 2020 6,630 84,775 566,308 6,406 664,119
Charge for period 737 9,419 2,935 - 13,091
At 26 March 2021 7,367 94,194 569,243 6,406 677,210
NET BOOK VALUE
At 26 March 2021 3,676 47,101 8,804 - 59,581
At 28 March 2020 4,413 56,520 11,739 - 72,672

5. STOCKS
2021 2020
£    £   
Stocks 7,000 25,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 11,949 -
S455 tax 33 33
Directors' current accounts 947 997
Prepayments 25,506 25,745
38,435 26,775

RUSHOUTER LIMITED (REGISTERED NUMBER: 02073091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 MARCH 2020 TO 26 MARCH 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts (see note 9) 8,400 -
Trade creditors 180,183 111,898
Corporation tax 1,509 657
Other creditors 18,820 25,031
S455 tax 33 33
PAYE & Other Taxes 62,642 56,643
Accruals 23,666 24,637
Other loans 3,413 32,770
Directors' current accounts 20,427 20,427
319,093 272,096

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2021 2020
£    £   
Bank loans (see note 9) 90,271 30,465

9. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 8,400 -

Amounts falling due between two and five years:
Bank loans - over 1 year 90,271 30,465

Other loans consist of a loan from a supplier and also a loan from a related party. The loans are interest free and amounts falling due in more than one year are to be repaid in 8 quarterly instalments and also 59 equal monthly instalments. A market value rate of interest has not been applied to these concessionary loans as the difference between the effective interest charge and the discounting rate applied to recognise the liability at its net present value is immaterial.

RUSHOUTER LIMITED (REGISTERED NUMBER: 02073091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 MARCH 2020 TO 26 MARCH 2021

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 2020
£    £   
Within one year 6,584 -
Between one and five years 26,336 32,920
In more than five years 85,796 92,380
118,716 125,300

11. SECURED DEBTS

Barclays bank holds limited guarantees of £80,000 from Mr A L Gretton. The bank also holds a debenture on the assets of the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary Shares £1 100 100

13. RESERVES
Retained
earnings
£   

At 29 March 2020 (138,936 )
Deficit for the period (75,757 )
At 26 March 2021 (214,693 )

14. CONTINGENT LIABILITIES

During the period the company received grant funding in relation to Covid-19 support undertaken. The purpose of the grant is to support ongoing eligible expenditure. Should any conditions of the grant be contravened or unspent, then the grant could become repayable to the funder.

RUSHOUTER LIMITED (REGISTERED NUMBER: 02073091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 MARCH 2020 TO 26 MARCH 2021

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following interest free loans from the directors subsisted during the period ended 26 March 2021 as follows:-

20212020
££
A L Gretton
Balance brought forward10,86810,868
Amounts withdrawn by director--
Amounts introduced into the company--
Balance carried forward10,86810,868

Maximum balance outstanding during the year £10,868.

S C Gretton
Balance brought forward(997)897
Amounts withdrawn by director(100)(250)
Amounts introduced into the company 150150
Balance carried forward(947)(997)

Maximum balance outstanding during the year (£947).

J A Gretton
Balance brought forward9,5599,559
Amounts withdrawn by director-(5,000)
Amounts introduced into the company-5,000
Balance carried forward9,5599,559

Maximum balance outstanding during the year £9,559.

Loans by directors to the company are interest-free and repayable on demand.

16. RELATED PARTY DISCLOSURES

The company is under the control of Mr A L Gretton, director and shareholder of the company.

Included in Other creditors is £5,000 (2020 - £15,400) owed to Mrs G M Gretton, wife of A L Gretton.

Included in Other loans is £17,350 (2020 - £18,650) owed to Gremer Chemicals Ltd in which the director A L Gretton has a controlling interest.