Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity23truetrue 02873208 2022-03-01 2023-02-28 02873208 2021-03-01 2022-02-28 02873208 2023-02-28 02873208 2022-02-28 02873208 c:Director2 2022-03-01 2023-02-28 02873208 d:FurnitureFittings 2022-03-01 2023-02-28 02873208 d:FurnitureFittings 2023-02-28 02873208 d:FurnitureFittings 2022-02-28 02873208 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02873208 d:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 02873208 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 02873208 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 02873208 d:CurrentFinancialInstruments 2023-02-28 02873208 d:CurrentFinancialInstruments 2022-02-28 02873208 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 02873208 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 02873208 d:ShareCapital 2023-02-28 02873208 d:ShareCapital 2022-02-28 02873208 d:RetainedEarningsAccumulatedLosses 2023-02-28 02873208 d:RetainedEarningsAccumulatedLosses 2022-02-28 02873208 c:FRS102 2022-03-01 2023-02-28 02873208 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 02873208 c:FullAccounts 2022-03-01 2023-02-28 02873208 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 02873208 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 02873208









RUSHMANS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
RUSHMANS LIMITED
REGISTERED NUMBER: 02873208

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 5 
20,514
22,352

  
20,514
22,352

Current assets
  

Debtors: amounts falling due within one year
 6 
211,066
237,012

Cash at bank and in hand
 7 
61,884
107,511

  
272,950
344,523

Creditors: amounts falling due within one year
 8 
(410,521)
(404,831)

Net current liabilities
  
 
 
(137,571)
 
 
(60,308)

Total assets less current liabilities
  
(117,057)
(37,956)

  

Net liabilities
  
(117,057)
(37,956)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(117,059)
(37,958)

  
(117,057)
(37,956)


Page 1

 
RUSHMANS LIMITED
REGISTERED NUMBER: 02873208
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N S Rushman
Director

Date: 8 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Rushmans Limited is a private company, limited by shares, registered in England and Wales (registration number 02873208). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The principal activity of the company continued to be that of strategic advice, management consultancy and sales and marketing of sports rights.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months following the approval of these financial statements.
As at 28 February 2023, the company had net liabilities of £117,057. The directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on both a straight line and reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% reducing balance
Website development
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 3).

Page 5

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Intangible assets




Software development

£



Cost


At 1 March 2022
108,595



At 28 February 2023

108,595



Amortisation


At 1 March 2022
108,595



At 28 February 2023

108,595



Net book value



At 28 February 2023
-



At 28 February 2022
-



Page 6

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 March 2022
65,997


Additions
4,167



At 28 February 2023

70,164



Depreciation


At 1 March 2022
43,646


Charge for the year on owned assets
6,005



At 28 February 2023

49,651



Net book value



At 28 February 2023
20,513



At 28 February 2022
22,351


6.


Debtors

2023
2022
£
£


Trade debtors
-
25,332

Other debtors
1,066
1,680

Prepayments and accrued income
210,000
210,000

211,066
237,012



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
61,884
107,511

61,884
107,511


Page 7

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
89,654
73,846

Corporation tax
(74,101)
(74,102)

Other taxation and social security
3,629
716

Other creditors
355,879
369,039

Accruals and deferred income
35,460
35,332

410,521
404,831


 
Page 8