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REGISTERED NUMBER: 02287130 (England and Wales)















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: A E West
Ms A W Bysouth





SECRETARY: Ms A W Bysouth





REGISTERED OFFICE: Russell Square
Longfield
Kent
DA3 7RY





REGISTERED NUMBER: 02287130 (England and Wales)






Russell Court Limited (Registered number: 02287130)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,579,159 2,548,863

CURRENT ASSETS
Stocks 1,925 1,925
Debtors 5 794,614 689,275
Cash at bank 398,214 381,559
1,194,753 1,072,759
CREDITORS
Amounts falling due within one year 6 575,324 454,708
NET CURRENT ASSETS 619,429 618,051
TOTAL ASSETS LESS CURRENT LIABILITIES 3,198,588 3,166,914

CREDITORS
Amounts falling due after more than one
year

7

(757,717

)

(1,047,453

)

PROVISIONS FOR LIABILITIES (39,207 ) (31,633 )
NET ASSETS 2,401,664 2,087,828

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 9 2,391,664 2,077,828
SHAREHOLDERS' FUNDS 2,401,664 2,087,828

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

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


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2023 and were signed on its behalf by:





A E West - Director


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 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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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:

20232022

Tangible Assets4,402,8234,403,215

Revaluation Reserve1,537,9551,560,971

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 15% on reducing balance basis

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 61 (2022 - 61 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2022 2,417,484 414,074 2,831,558
Additions - 61,739 61,739
Disposals - (10,247 ) (10,247 )
At 30 April 2023 2,417,484 465,566 2,883,050
DEPRECIATION
At 1 May 2022 - 282,695 282,695
Charge for year - 28,531 28,531
Eliminated on disposal - (7,335 ) (7,335 )
At 30 April 2023 - 303,891 303,891
NET BOOK VALUE
At 30 April 2023 2,417,484 161,675 2,579,159
At 30 April 2022 2,417,484 131,379 2,548,863

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 55,505 104,664
Other debtors 739,109 584,611
794,614 689,275

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 302,452 158,728
Trade creditors 55,198 55,205
Taxation and social security 136,402 179,744
Other creditors 81,272 61,031
575,324 454,708

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 757,717 1,047,453

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,060,169 1,206,181

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 2,077,828
Profit for the year 638,136
Dividends (324,300 )
At 30 April 2023 2,391,664

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
£    £   
Ms A W Bysouth
Balance outstanding at start of year 92,177 -
Amounts advanced 31,250 92,177
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 123,427 92,177

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

There is no overall controlling party.