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Registered number: 05614554
Russells Shenstone Limited
Financial Statements
For The Year Ended 30 November 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05614554
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 92,772 109,926
92,772 109,926
CURRENT ASSETS
Stocks 5 15,990 12,350
Debtors 6 127,827 86,193
Cash at bank and in hand 32,618 94,821
176,435 193,364
Creditors: Amounts Falling Due Within One Year 7 (183,478 ) (130,560 )
NET CURRENT ASSETS (LIABILITIES) (7,043 ) 62,804
TOTAL ASSETS LESS CURRENT LIABILITIES 85,729 172,730
Creditors: Amounts Falling Due After More Than One Year 8 (88,542 ) (151,042 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,627 ) (21,376 )
NET (LIABILITIES)/ASSETS (20,440 ) 312
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (20,540 ) 212
SHAREHOLDERS' FUNDS (20,440) 312
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R D Edwards
Director
1 May 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Russells Shenstone Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05614554 . The registered office is 7 Faraday Court, First Avenue, Burton-Upon-Trent, Staffordshire, DE14 2WX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2022 52,723 58,497 44,781 99,877
Additions - - - -
As at 30 November 2023 52,723 58,497 44,781 99,877
Depreciation
As at 1 December 2022 52,723 49,495 26,240 18,725
Provided during the period - 1,799 4,635 12,357
As at 30 November 2023 52,723 51,294 30,875 31,082
Net Book Value
As at 30 November 2023 - 7,203 13,906 68,795
As at 1 December 2022 - 9,002 18,541 81,152
Computer Equipment Total
£ £
Cost
As at 1 December 2022 4,121 259,999
Additions 2,425 2,425
As at 30 November 2023 6,546 262,424
Depreciation
As at 1 December 2022 2,890 150,073
Provided during the period 788 19,579
As at 30 November 2023 3,678 169,652
Net Book Value
As at 30 November 2023 2,868 92,772
As at 1 December 2022 1,231 109,926
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5. Stocks
2023 2022
£ £
Stock 15,990 12,350
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 84,604 79,095
Prepayments and accrued income 2,022 1,239
Other debtors 41,201 5,859
127,827 86,193
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 521
Trade creditors 117,059 60,323
Bank loans and overdrafts 62,500 62,500
Other taxes and social security 2,404 2,373
Other creditors 320 2,627
Accruals and deferred income 1,195 2,216
183,478 130,560
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 88,542 151,042
88,542 151,042
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 521
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
The company's ultimate controlling party is Russell Edwards by virtue of his ownership of the majority of the issued share capital in the company.
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