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REGISTERED NUMBER: 12326548 (England and Wales)















RUSSELL SMITH ASSOCIATES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 DECEMBER 2021 TO 31 MARCH 2023






RUSSELL SMITH ASSOCIATES LTD (REGISTERED NUMBER: 12326548)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2021 TO 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RUSSELL SMITH ASSOCIATES LTD

COMPANY INFORMATION
FOR THE PERIOD 1 DECEMBER 2021 TO 31 MARCH 2023







DIRECTOR: R L Smith





REGISTERED OFFICE: 97 Chadwick Place
Long Ditton
Surbiton
KT6 5RG





REGISTERED NUMBER: 12326548 (England and Wales)

RUSSELL SMITH ASSOCIATES LTD (REGISTERED NUMBER: 12326548)

BALANCE SHEET
31 MARCH 2023

2023 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 81,963 -
Tangible assets 5 3,070 705
85,033 705

CURRENT ASSETS
Debtors 6 1,139 -
Cash at bank and in hand 76,262 -
77,401 -
CREDITORS
Amounts falling due within one year 7 (123,034 ) (770 )
NET CURRENT LIABILITIES (45,633 ) (770 )
TOTAL ASSETS LESS CURRENT LIABILITIES 39,400 (65 )

PROVISIONS FOR LIABILITIES (706 ) -
NET ASSETS/(LIABILITIES) 38,694 (65 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 38,594 (165 )
SHAREHOLDERS' FUNDS 38,694 (65 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

RUSSELL SMITH ASSOCIATES LTD (REGISTERED NUMBER: 12326548)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2023 and were signed by:





R L Smith - Director


RUSSELL SMITH ASSOCIATES LTD (REGISTERED NUMBER: 12326548)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2021 TO 31 MARCH 2023


1. STATUTORY INFORMATION

Russell Smith Associates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "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 cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Contract workers
When the outcome of a services undertaken by contract workers can be estimated reliably, costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the time undertaken by the contract worker in that period.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 5 years
Computer equipment - 20% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

RUSSELL SMITH ASSOCIATES LTD (REGISTERED NUMBER: 12326548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2021 TO 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2021 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 87,817
At 31 March 2023 87,817
AMORTISATION
Charge for period 5,854
At 31 March 2023 5,854
NET BOOK VALUE
At 31 March 2023 81,963

RUSSELL SMITH ASSOCIATES LTD (REGISTERED NUMBER: 12326548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2021 TO 31 MARCH 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2021 1,175
Additions 3,652
At 31 March 2023 4,827
DEPRECIATION
At 1 December 2021 470
Charge for period 1,287
At 31 March 2023 1,757
NET BOOK VALUE
At 31 March 2023 3,070
At 30 November 2021 705

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors 201 -
Prepayments and accrued income 938 -
1,139 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade creditors 140 -
Tax 17,905 -
Social security and other taxes 333 -
VAT 9,409 -
Credit card (235 ) (267 )
Pension 104 -
Directors' current accounts 93,878 1,037
Accruals and deferred income 1,500 -
123,034 770

RUSSELL SMITH ASSOCIATES LTD (REGISTERED NUMBER: 12326548)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2021 TO 31 MARCH 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2021
value: £    £   
100 Ordinary 1 100 100