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Russell Up Ltd
Registered Number:SC491889
For the year ended 31 March 2021
Scotland
Unaudited Financial Statements
2
For the year ended 31 March 2021
Russell Up Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
SC491889
As at 31 March 2021
Russell Up Ltd
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
14,852
14,862
2
14,852
14,862
Current assets
Inventories
4,500
37,000
3
Trade and other receivables
24,025
12,103
4
839
Cash and cash equivalents
25,770
74,873
29,364
Trade and other payables: amounts falling due within one
year
(31,518)
(33,527)
5
(2,154)
41,346
Net current assets
Total assets less current liabilities
56,198
12,708
Trade and other payables: amounts falling due after more
than one year
(9,757)
(56,098)
6
100
Net assets
2,951
Capital and reserves
Called up share capital
100
100
Retained earnings
-
2,851
100
2,951
Shareholders' funds
For the year ended 31 March 2021 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Russell Smith Director
These financial statements were approved and authorised for issue by the Board on 07 September 2022 and were signed by:
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4
Registered Number :
SC491889
For the year ended 31 March 2021
Russell Up Ltd
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 March 2021
Russell Up Ltd
Notes to the Financial Statements
Statutory Information
Russell Up Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number SC491889.
Registered address:
UNIT 12
New broompark
Edinburgh
EH5 1RS
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20% Straight line
20% Straight line
Computer equipment
15% Reducing balance
Motor vehicles
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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6
For the year ended 31 March 2021
Russell Up Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 April 2020
43,220
616
18,295
24,309
8,697
-
-
8,697
Additions
At 31 March 2021
33,006
18,295
616
51,917
Provision for depreciation and impairment
At 01 April 2020
28,358
246
5,077
23,035
Charge for year
8,707
123
1,983
6,601
At 31 March 2021
37,065
369
7,060
29,636
At 31 March 2021
Net book value
3,370
11,235
247
14,852
At 31 March 2020
1,274
13,218
370
14,862
3. Inventories
2020
2021
£
£
Stocks
37,000
4,500
4. Trade and other receivables
2020
2021
£
£
Other debtors
12,103
24,025
5. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Taxation and social security
30,227
17,686
Other creditors
3,300
13,832
33,527
31,518
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7
For the year ended 31 March 2021
Russell Up Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2020
2021
£
£
Bank loans and overdraft
56,098
9,757
7. Average number of persons employed
During the year the average number of employees was 9 (2020 : 4)
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