REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 April 2023 |
for |
Russell Court Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 April 2023 |
for |
Russell Court Limited |
Russell Court Limited (Registered number: 02287130) |
Contents of the Financial Statements |
for the Year Ended 30 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Russell Court Limited |
Company Information |
for the Year Ended 30 April 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Russell Court Limited (Registered number: 02287130) |
Balance Sheet |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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 Court Limited (Registered number: 02287130) |
Balance Sheet - continued |
30 April 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Russell Court Limited (Registered number: 02287130) |
Notes to the Financial Statements |
for the Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Russell Court Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Changes in accounting policies |
During the year the revaluation policy which applied to certain assets was dis-applied and the financial statements reverted to being unmodified and prepared under the historical cost convention. The directors believe that this change reflects a more prudent approach in disclosing values of care sector property. |
Should this change not have been applied the amounts stated in the Balance Sheet as at 30 April 2023 would have been: |
2023 | 2022 |
Tangible Assets | 4,402,823 | 4,403,215 |
Revaluation Reserve | 1,537,955 | 1,560,971 |
Provisions for Liabilities | (324,916 | ) | (325,014 | ) |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Freehold land and buildings are revalued annually and are not depreciated. This represents a departure from the provisions of the Companies Act 2006. The company has a policy and practice of regular maintenance and repair, the charges for which are recognised in the profit and loss account as incurred. The company believes that such a policy ensures that the estimated residual value of its property at the balance sheet date is maintained at a level not materially different from the carrying amount of the asset. As such, no depreciation charge is made on the grounds that any such charge would be immaterial. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 Court Limited (Registered number: 02287130) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 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 year 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 May 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Russell Court Limited (Registered number: 02287130) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loans are secured by a fixed and floating charge over the assets of the company. |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 May 2022 |
Profit for the year |
Dividends | ( |
) |
At 30 April 2023 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Russell Court Limited (Registered number: 02287130) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
11. | RELATED PARTY DISCLOSURES |
During the year loan advances of £ 4,760 (2022 -£10,905) were made to Lavender's Property Ltd and Worsley's (Godshill) Ltd, companies controlled by the directors, and at 30 April 2023 £710,648 (2022 - £ 705,888) was owed to Russell Court Ltd less £ 227,438 (2022-£115,786) as deemed potentially unrecoverable. |
12. | ULTIMATE CONTROLLING PARTY |