Company registration number 07079843 (England and Wales)
RUTHERFORD & PARTNERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
RUTHERFORD & PARTNERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RUTHERFORD & PARTNERS LIMITED (REGISTERED NUMBER: 07079843)
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
318,531
318,927
Current assets
Debtors
4
218,263
369,224
Cash at bank and in hand
554,457
556,806
772,720
926,030
Creditors: amounts falling due within one year
5
(22,163)
(64,605)
Net current assets
750,557
861,425
Total assets less current liabilities
1,069,088
1,180,352
Provisions for liabilities
(1,541)
(1,642)
Net assets
1,067,547
1,178,710
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,067,447
1,178,610
Total equity
1,067,547
1,178,710
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 13 August 2024 and are signed on its behalf by:
A Rutherford
Director
RUTHERFORD & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information
Rutherford & Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is Monks, Summerhill, Goudhurst, Cranbrook, Kent, TN17 1JT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria must also be met before turnover is recognised.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• The amount of turnover can be measured reliably
• It is probable that the company will receive the consideration due under the contract
• the stage of completion of the contract at the end of the reporting period can be
measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
No depreciation provided
Plant and machinery
25% on reducing balance
Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
25% on straight line
RUTHERFORD & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
£
Cost
At 1 December 2022
310,281
38,408
8,785
1,025
358,499
Additions
1,032
932
1,964
At 30 November 2023
311,313
38,408
8,785
1,957
360,463
Depreciation and impairment
At 1 December 2022
31,671
7,380
521
39,572
Depreciation charged in the year
1,684
351
325
2,360
At 30 November 2023
33,355
7,731
846
41,932
Carrying amount
At 30 November 2023
311,313
5,053
1,054
1,111
318,531
At 30 November 2022
310,281
6,737
1,405
504
318,927
RUTHERFORD & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
73,719
Other debtors
218,263
295,505
218,263
369,224
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
20,079
46,039
Other creditors
2,084
18,566
22,163
64,605
6
Directors' transactions
Included within other debtors is an overdrawn directors' loan account balance of £149,613 (2022: £211,232). Interest has been charged at the HMRC official rate of interest.