2023-02-21 2024-03-31 SC759670 Russo Hospitality Limited false SC759670 2023-02-21 2024-03-31 SC759670 uk-bus:Director1 2023-02-21 2024-03-31 SC759670 uk-bus:AuditExempt-NoAccountantsReport 2023-02-21 2024-03-31 SC759670 uk-bus:SmallEntities 2023-02-21 2024-03-31 SC759670 uk-bus:FullAccounts 2023-02-21 2024-03-31 SC759670 uk-bus:PrivateLimitedCompanyLtd 2023-02-21 2024-03-31 SC759670 2023-02-21 SC759670 2024-03-31 SC759670 2023-03-31 xbrli:pure iso4217:GBP SC759670 2022-02-21 2023-03-31
Company Registration Number : SC759670 (Scotland)
SC759670
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-03-31
false
Russo Hospitality Limited
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2023-02-21
Russo Hospitality Limited
Unaudited filleted financial statements
For 405 days period from 21 February 2023 to 31 March 2024
Russo Hospitality Limited
Contents
For 405 days period from 21 February 2023 to 31 March 2024

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 6


Russo Hospitality Limited
Company Information
For 405 days period from 21 February 2023 to 31 March 2024

Company registration number SC759670 (Scotland)
Director Jamie Russo
Registered office address 30 Taylor Crescent
Stonehaven
AB39 2GB
Trading office address Unit 3
Redcloak Drive
Stonehaven
AB39 2XW
Accountant Apply Accounting Ltd
21 Maidencraig Court
Aberdeen
AB15 6NS
Russo Hospitality Limited
Statement of Financial Position
For 405 days period from 21 February 2023 to 31 March 2024

2024
Notes £
Fixed assets
Property, plant and equipment 33,126
6 33,126
Current assets
Inventories 2,338
Debtors 6,729
Cash and cash equivalents 37,460
46,527
Current liabilities
Creditors: Amounts falling due within one year (64,358)
(64,358)
Net current (liabilities)/assets (17,831)
Total assets less current liabilities 15,295
Non-current liabilities
Provision for liabilities (4,312)
Net assets/(liabilities) 10,983
Capital and reserves
Called up share capital 10
Retained earnings 10,973
Shareholder's funds 10,983
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 March 2024 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 director acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared 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.
Approved by the Board on 30 August 2024
.............................
Jamie Russo (Director)
Company registration number: SC759670
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2024-03-31 31 March 2024
2024
£
Fixed Assets 33,126
Current Assets 43,193
Prepayments and accrued income 3,333
Creditors: amounts falling due within one year (64,358)
Net current assets (liabilities) (17,831)
Total assets less current liabilities 15,295
Provisions for liabilities (4,312)
Net Assets (liabilities) 10,983
Capital and Reserves 10,983
For the year ending 31/03/2024 the company was entitled to exemption 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. For the year ending 31-03-2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 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 in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 30 August 2024 2024-08-30 and signed on behalf of the board,
.............................
Jamie Russo
Director
Company registration number: SC759670
Russo Hospitality Limited
Notes to the Financial Statements
For 405 days period from 21 February 2023 to 31 March 2024

(1) General Information
The company is a private company limited by shares and is registered in Scotland. The address of the registered office is 30 Taylor Crescent, Stonehaven, AB39 2GB.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings
Equipment25% reducing balance
Motor Cars
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

The company as lessee

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, the aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis over the lease period.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Deferred Tax
A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax liabilities and assets 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.
Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

(4) Critical accounting judgements and key sources of estimation uncertainty
No judgement
No significant judgements or estimates have been made in preparation of these financial statements.

(5) Employees
During the period, the average number of employees including director was 9 .

(6) Fixed assets
Tangible

£
Cost
Additions41,843
As at 31 March 202441,843
Depreciation/Amortisation
For the year8,717
As at 31 March 20248,717
Net book value
As at 31 March 202433,126