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Company registration number: 02881219
Russell House Publishing Limited
Unaudited filleted financial statements
28 February 2022
RUSSELL HOUSE PUBLISHING LIMITED
Contents
Statement of financial position
Notes to the financial statements
RUSSELL HOUSE PUBLISHING LIMITED
STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2022
2022 2021
Note £ £ £ £
Current assets
Stocks 3,132 4,082
Debtors 5 3,573 5,313
Cash at bank and in hand 19,745 17,225
_______ _______
26,450 26,620
Creditors: amounts falling due
within one year 7 ( 7,993) ( 4,253)
_______ _______
Net current assets 18,457 22,367
_______ _______
Total assets less current liabilities 18,457 22,367
_______ _______
Net assets 18,457 22,367
_______ _______
Capital and reserves
Called up share capital 129 129
Profit and loss account 8 18,328 22,238
_______ _______
Shareholders funds 18,457 22,367
_______ _______
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 August 2022 , and are signed on behalf of the board by:
Mrs J Baker
Director
Company registration number: 02881219
RUSSELL HOUSE PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Coach House, Ware, Lyme Regis, Dorset, DT7 3RH.
Principal activity
The principal activity of the company is that of a publishing house.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Principal activity
The principal activity of the company is that of a publishing house.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Debtors
2022 2021
£ £
Trade debtors 3,573 4,801
Other debtors - 512
_______ _______
3,573 5,313
_______ _______
6. Cash and cash equivalents
2022 2021
£ £
Cash at bank and in hand 19,745 17,225
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 1,102 843
Accruals and deferred income 1,361 1,316
Other creditors 5,530 2,094
_______ _______
7,993 4,253
_______ _______
8. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Director 512 13,322 (17,188) (3,354)
_______ _______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Director 4,981 562 (5,031) 512
_______ _______ _______ _______