1 August 2022 false Taxfiler 2023.12 10911718business:PrivateLimitedCompanyLtd2022-08-012023-07-31 109117182022-07-31 109117182022-08-012023-07-31 10911718business:AuditExemptWithAccountantsReport2022-08-012023-07-31 10911718business:FilletedAccounts2022-08-012023-07-31 109117182023-07-31 10911718business:Director12022-08-012023-07-31 10911718business:Director22022-08-012023-07-31 10911718business:RegisteredOffice2022-08-012023-07-31 109117182022-07-31 10911718core:WithinOneYear2023-07-31 10911718core:WithinOneYear2022-07-31 10911718core:AfterOneYear2023-07-31 10911718core:AfterOneYear2022-07-31 10911718core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 10911718core:ShareCapitalcore:PreviouslyStatedAmount2022-07-31 10911718core:RevaluationReservecore:PreviouslyStatedAmount2023-07-31 10911718core:RevaluationReservecore:PreviouslyStatedAmount2022-07-31 10911718core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 10911718core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-07-31 10911718core:PreviouslyStatedAmount2023-07-31 10911718core:PreviouslyStatedAmount2022-07-31 10911718business:SmallEntities2022-08-012023-07-31 10911718countries:EnglandWales2022-08-012023-07-31 10911718core:FurnitureFittings2022-08-012023-07-31 10911718core:FurnitureFittings2022-07-31 10911718core:FurnitureFittings2023-07-31 109117182021-08-012022-07-31 iso4217:GBP xbrli:pure
Company Registration No. 10911718 (England and Wales)
Russet Properties Limited Unaudited accounts for the year ended 31 July 2023
Russet Properties Limited Unaudited accounts Contents
Page
- 2 -
Russet Properties Limited Company Information for the year ended 31 July 2023
Directors
Elizabeth Robinson Ian Robertson
Company Number
10911718 (England and Wales)
Registered Office
Russet House Bargrove Avenue Hemel Hempstead Hertfordshire HP1 1QP England
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
- 3 -
Russet Properties Limited Accountants' report
Accountants' report to the board of directors of Russet Properties Limited on the preparation of the unaudited statutory accounts for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Russet Properties Limited for the year ended 31 July 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Russet Properties Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Russet Properties Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Russet Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Russet Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Russet Properties Limited. You consider that Russet Properties Limited 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 accounts of Russet Properties Limited. 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 accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 23 January 2024
- 4 -
Russet Properties Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
175 
(1)
Investment property
1,338,824 
1,260,000 
1,338,999 
1,259,999 
Current assets
Debtors
2,100 
2,100 
Cash at bank and in hand
40,188 
1,937 
42,288 
4,037 
Creditors: amounts falling due within one year
(337,508)
(149,429)
Net current liabilities
(295,220)
(145,392)
Total assets less current liabilities
1,043,779 
1,114,607 
Creditors: amounts falling due after more than one year
(1,073,040)
(1,062,566)
Net (liabilities)/assets
(29,261)
52,041 
Capital and reserves
Called up share capital
10 
10 
Revaluation reserve
54,787 
82,935 
Profit and loss account
(84,058)
(30,904)
Shareholders' funds
(29,261)
52,041 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2024 and were signed on its behalf by
Elizabeth Robinson Director Company Registration No. 10911718
- 5 -
Russet Properties Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Russet Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10911718. The registered office is Russet House, Bargrove Avenue, Hemel Hempstead, Hertfordshire, HP1 1QP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
- 6 -
Russet Properties Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 August 2022
1,619 
Additions
264 
At 31 July 2023
1,883 
Depreciation
At 1 August 2022
1,620 
Charge for the year
88 
At 31 July 2023
1,708 
Net book value
At 31 July 2023
175 
At 31 July 2022
(1)
5
Investment property
2023 
£ 
Fair value at 1 August 2022
1,260,000 
Additions
106,972 
Net loss from fair value adjustments
(28,148)
At 31 July 2023
1,338,824 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
2,100 
2,100 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
2,172 
1,952 
Loans from directors
334,909 
147,050 
Accruals
427 
427 
337,508 
149,429 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
1,073,040 
886,704 
Other creditors
- 
175,862 
1,073,040 
1,062,566 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
- 7 -