Company Registration No. 04699943 (England and Wales)
ORMEROD RUTTER CORPORATE SOLUTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ORMEROD RUTTER CORPORATE SOLUTIONS LTD
COMPANY INFORMATION
Directors
Mr P Orton
Mr A G Hunt
(Appointed 14 March 2023)
Secretary
Oakley Secretarial Services Limited
Company number
04699943
Registered office
4 St Andrews Court
St Andrews Road
Droitwich
Worcestershire
WR9 8DN
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Royal Bank of Scotland
Customer Service Centre
Drummond House
1 Redheughs Avenue
Edinburgh
EH12 9JN
ORMEROD RUTTER CORPORATE SOLUTIONS LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
ORMEROD RUTTER CORPORATE SOLUTIONS LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ORMEROD RUTTER CORPORATE SOLUTIONS LTD FOR THE YEAR ENDED 31 MARCH 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ormerod Rutter Corporate Solutions Ltd for the year ended 31 March 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Ormerod Rutter Corporate Solutions Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ormerod Rutter Corporate Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of Ormerod Rutter Corporate Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ormerod Rutter Corporate Solutions Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Ormerod Rutter Corporate Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ormerod Rutter Corporate Solutions Ltd. You consider that Ormerod Rutter Corporate Solutions Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Ormerod Rutter Corporate Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
14 November 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ORMEROD RUTTER CORPORATE SOLUTIONS LTD
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
233
348
Current assets
Debtors
4
109,353
78,447
Cash at bank and in hand
30,935
14,579
140,288
93,026
Creditors: amounts falling due within one year
5
(135,340)
(88,527)
Net current assets
4,948
4,499
Total assets less current liabilities
5,181
4,847
Capital and reserves
Called up share capital
6
176
176
Profit and loss reserves
5,005
4,671
Total equity
5,181
4,847
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 14 November 2023 and are signed on its behalf by:
Mr A G Hunt
Director
Company Registration No. 04699943
ORMEROD RUTTER CORPORATE SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Ormerod Rutter Corporate Solutions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4 St Andrews Court, St Andrews Road, Droitwich, Worcestershire, WR9 8DN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ORMEROD RUTTER CORPORATE SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2022 - 2).
3
Tangible fixed assets
Computers
£
Cost
At 1 April 2022 and 31 March 2023
10,654
Depreciation and impairment
At 1 April 2022
10,306
Depreciation charged in the year
115
At 31 March 2023
10,421
Carrying amount
At 31 March 2023
233
At 31 March 2022
348
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
106,065
77,193
Other debtors
3,288
1,254
109,353
78,447
ORMEROD RUTTER CORPORATE SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
11,392
36,058
Amounts owed to group undertakings and undertakings in which the company has a participating interest
65,000
16,452
Taxation and social security
47,245
30,245
Other creditors
11,703
5,772
135,340
88,527
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
50 Ordinary A of £1 each
50
50
50 Ordinary B of £1 each
50
50
50 Ordinary C of 50p each
25
25
50 Ordinary D of 50p each
25
25
1 Ordinary E of £1 each
1
1
50 Ordinary F of 50p each
25
25
176
176
7
Ultimate controlling party
There is no ultimate controlling party.