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REGISTERED NUMBER: 08587267 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

RUSSELL MINERAL EQUIPMENT (UK) LTD

RUSSELL MINERAL EQUIPMENT (UK) LTD (REGISTERED NUMBER: 08587267)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RUSSELL MINERAL EQUIPMENT (UK) LTD

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTORS: A J Russell
P J Rubie





SECRETARY: J B Howard





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 08587267 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

RUSSELL MINERAL EQUIPMENT (UK) LTD (REGISTERED NUMBER: 08587267)

BALANCE SHEET
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,880 1,505

CURRENT ASSETS
Debtors 5 67,937 73,618

CREDITORS
Amounts falling due within one year 6 88,612 111,911
NET CURRENT LIABILITIES (20,675 ) (38,293 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(18,795

)

(36,788

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (18,895 ) (36,888 )
SHAREHOLDERS' FUNDS (18,795 ) (36,788 )

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 24 January 2024 and were signed on its behalf by:





A J Russell - Director


RUSSELL MINERAL EQUIPMENT (UK) LTD (REGISTERED NUMBER: 08587267)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Russell Mineral Equipment (UK) 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 "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.

The financial statements have been prepared on the going concern basis as Russell Mineral Equipment Pty Limited, the Parent Company, will continue to support the Company as required for a period in excess of 12 months and one day from the signing of the audit report.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
With regard to the accounting policies adopted by the company, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily available from other sources. Such estimates are based on historical experience and other relevant factors and may differ from actual results. All estimates, and associated underlying assumptions, are reviewed on an ongoing basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is calculated on a cost plus 5% basis, is recharged to a fellow group undertaking and recognised when rechargeable goods and services have been incurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - initially recognised at cost and subsequently depreciated by a straight line policy over 3 years.

Financial instruments
Basic financial instruments as covered by Section 11 of FRS 102 (Section 1A) are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102 (Section 1A).

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 MINERAL EQUIPMENT (UK) LTD (REGISTERED NUMBER: 08587267)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 2,977
Additions 1,670
At 30 June 2023 4,647
DEPRECIATION
At 1 July 2022 1,472
Charge for year 1,295
At 30 June 2023 2,767
NET BOOK VALUE
At 30 June 2023 1,880
At 30 June 2022 1,505

RUSSELL MINERAL EQUIPMENT (UK) LTD (REGISTERED NUMBER: 08587267)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Amounts owed by group undertakings 37,245 35,587
Other debtors 30,692 38,031
67,937 73,618

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Amounts owed to group undertakings - 60,358
Other creditors & accruals 88,612 51,553
88,612 111,911

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Crowley (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included
within the full financial statements:-

"Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Alan John Russell.

10. ULTIMATE PARENT COMPANY

The ultimate parent company is RME Holdings Pty Limited, a company incorporated in Australia. They are the smallest entity preparing group financial statements which includes the results of the Company and are publicly available. Their registered address is 149 Hursley Road, Toowoomba, QLD, 4350, Australia.