Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28truefalse2022-05-25No description of principal activity3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14129841 2022-05-24 14129841 2022-05-25 2023-02-28 14129841 2020-11-01 2022-05-24 14129841 2023-02-28 14129841 c:Director1 2022-05-25 2023-02-28 14129841 d:PlantMachinery 2022-05-25 2023-02-28 14129841 d:PlantMachinery 2023-02-28 14129841 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-25 2023-02-28 14129841 d:Goodwill 2022-05-25 2023-02-28 14129841 d:Goodwill 2023-02-28 14129841 d:CurrentFinancialInstruments 2023-02-28 14129841 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 14129841 d:ShareCapital 2023-02-28 14129841 d:RetainedEarningsAccumulatedLosses 2023-02-28 14129841 c:OrdinaryShareClass1 2022-05-25 2023-02-28 14129841 c:OrdinaryShareClass1 2023-02-28 14129841 c:FRS102 2022-05-25 2023-02-28 14129841 c:AuditExempt-NoAccountantsReport 2022-05-25 2023-02-28 14129841 c:FullAccounts 2022-05-25 2023-02-28 14129841 c:PrivateLimitedCompanyLtd 2022-05-25 2023-02-28 14129841 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-05-25 2023-02-28 14129841 d:Goodwill d:OwnedIntangibleAssets 2022-05-25 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 14129841









RUSSELL SCIENTIFIC INSTRUMENTS LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023







































 
RUSSELL SCIENTIFIC INSTRUMENTS LIMITED
REGISTERED NUMBER: 14129841

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
Note
£

Fixed assets
  

Intangible assets
 4 
46,667

Tangible assets
 5 
6,337

  
53,004

Current assets
  

Stocks
  
27,000

Debtors: amounts falling due within one year
 7 
17,026

Cash at bank and in hand
 8 
16,992

  
61,018

Creditors: amounts falling due within one year
 9 
(107,326)

Net current (liabilities)/assets
  
 
 
(46,308)

Total assets less current liabilities
  
6,696

  

Net assets
  
6,696


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
6,596

  
6,696


Page 1

 
RUSSELL SCIENTIFIC INSTRUMENTS LIMITED
REGISTERED NUMBER: 14129841
    
BALANCE SHEET (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 period 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 income and retained earnings 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: 




................................................
I E Cunningham
Director

Date: 9 November 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RUSSELL SCIENTIFIC INSTRUMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

1.


General information

Russell Scientific Instruments Limited is a private company limited by shares and is incorporated in England and Wales. Company number 14129841.
The address of its registered office is Greenwood House, Greenwood Court, Skyliner Way, Bury St Edmunds, Suffolk, IP32 7GY.
The principal activity of the company is that of a manufacturer of meteorological instruments.

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

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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
RUSSELL SCIENTIFIC INSTRUMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 4

 
RUSSELL SCIENTIFIC INSTRUMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of income and retained earnings over its useful economic life.

Other 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.

 The estimated useful lives range as follows:

Goodwill
-
10
years

Page 5

 
RUSSELL SCIENTIFIC INSTRUMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.6

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 a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%

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.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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 6

 
RUSSELL SCIENTIFIC INSTRUMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 3.


4.


Intangible assets



Goodwill

£



Cost


Additions
50,000



At 28 February 2023

50,000



Amortisation


Charge for the period on owned assets
3,333



At 28 February 2023

3,333



Net book value



At 28 February 2023
46,667



Page 7

 
RUSSELL SCIENTIFIC INSTRUMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


Additions
7,800



At 28 February 2023

7,800



Depreciation


Charge for the period on owned assets
1,463



At 28 February 2023

1,463



Net book value



At 28 February 2023
6,337


6.


Stocks

2023
£

Raw materials and consumables
27,000

27,000



7.


Debtors

2023
£


Trade debtors
17,026

17,026


Page 8

 
RUSSELL SCIENTIFIC INSTRUMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

8.


Cash and cash equivalents

2023
£

Cash at bank and in hand
16,992

16,992



9.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
774

Corporation tax
3,095

Other taxation and social security
2,025

Other creditors
100,332

Accruals and deferred income
1,100

107,326



10.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100




 
Page 9