Rushton Limited 2777574 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is the provision of consultancy services, and acting as a holding company Digita Accounts Production Advanced 6.30.9574.0 true true 2777574 2022-05-01 2023-04-30 2777574 2023-04-30 2777574 core:RetainedEarningsAccumulatedLosses 2023-04-30 2777574 core:ShareCapital 2023-04-30 2777574 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 2777574 core:Non-currentFinancialInstruments 2023-04-30 2777574 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 2777574 core:FurnitureFittingsToolsEquipment 2023-04-30 2777574 core:LandBuildings 2023-04-30 2777574 core:MotorVehicles 2023-04-30 2777574 bus:SmallEntities 2022-05-01 2023-04-30 2777574 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 2777574 bus:FullAccounts 2022-05-01 2023-04-30 2777574 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 2777574 bus:RegisteredOffice 2022-05-01 2023-04-30 2777574 bus:Director4 2022-05-01 2023-04-30 2777574 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 2777574 core:FurnitureFittings 2022-05-01 2023-04-30 2777574 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 2777574 core:LandBuildings 2022-05-01 2023-04-30 2777574 core:MotorVehicles 2022-05-01 2023-04-30 2777574 countries:England 2022-05-01 2023-04-30 2777574 2022-04-30 2777574 core:FurnitureFittingsToolsEquipment 2022-04-30 2777574 core:LandBuildings 2022-04-30 2777574 core:MotorVehicles 2022-04-30 2777574 2021-05-01 2022-04-30 2777574 2022-04-30 2777574 core:RetainedEarningsAccumulatedLosses 2022-04-30 2777574 core:ShareCapital 2022-04-30 2777574 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 2777574 core:Non-currentFinancialInstruments 2022-04-30 2777574 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 2777574 core:FurnitureFittingsToolsEquipment 2022-04-30 2777574 core:LandBuildings 2022-04-30 2777574 core:MotorVehicles 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 2777574

Rushton Limited

Unaudited Financial Statements

for the Year Ended 30 April 2023

 

Rushton Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Rushton Limited

(Registration number: 2777574)
Statement of Financial Position as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

762,404

763,733

Current assets

 

Debtors

5

78,596

77,948

Cash at bank and in hand

 

109,068

134,746

 

187,664

212,694

Creditors: Amounts falling due within one year

6

(11,281)

(37,180)

Net current assets

 

176,383

175,514

Total assets less current liabilities

 

938,787

939,247

Creditors: Amounts falling due after more than one year

6

(59,814)

(59,814)

Net assets

 

878,973

879,433

capital and reserves

 

Called up share capital

35,000

35,000

Profit and loss account

843,973

844,433

Shareholders funds

 

878,973

879,433

 

Rushton Limited

(Registration number: 2777574)
Statement of Financial Position as at 30 April 2023

For the financial year ending 30 April 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 15 September 2023 and signed on its behalf by:
 

.........................................
Mr A J Jubb
Director

 

Rushton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Overton Hall
Overton Road
Timbersbrook
Congleton
Cheshire
CW12 3QW
United Kingdom

These financial statements were authorised for issue by the Board on 15 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements for the year ended 30 April 2021 comply with FRS 102 Section 1A for small entities.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Due to the current unprecedented market and economic conditions in the U.K. and internationally, the expected impact of the COVID-19 pandemic on the Company’s operations cannot be reasonably estimated. Revenue may fall as customers are hit by the pandemic, but expenses will, likely, decrease as a result which will help to mitigate the impact on profits and the company has sufficient reserves in place to cover any deficit for at least 12 months from the date of approval of these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Rushton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the asset as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% on cost

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Rushton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

761,821

22,445

78,680

862,946

At 30 April 2023

761,821

22,445

78,680

862,946

Depreciation

At 1 May 2022

-

20,533

78,680

99,213

Charge for the year

-

1,329

-

1,329

At 30 April 2023

-

21,862

78,680

100,542

Carrying amount

At 30 April 2023

761,821

583

-

762,404

At 30 April 2022

761,821

1,912

-

763,733

Included within the net book value of land and buildings above is £761,821 (2022 - £761,821) in respect of freehold land and buildings.
 

 

Rushton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

648

-

Amounts owed by related parties

76,652

76,652

Other debtors

 

1,296

1,296

   

78,596

77,948

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,614

7,641

Taxation and social security

6,669

19,339

Other creditors

2,998

10,200

11,281

37,180

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

59,814

59,814

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

59,814

59,814