SJ Russell Estates Limited 14616439 false 2023-01-25 2024-01-31 2024-01-31 The principal activity of the company is 68100 - Buying and selling of own real estate Digita Accounts Production Advanced 6.30.9574.0 true 14616439 2023-01-25 2024-01-31 14616439 2024-01-31 14616439 core:CurrentFinancialInstruments 2024-01-31 14616439 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 14616439 core:Non-currentFinancialInstruments 2024-01-31 14616439 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 14616439 bus:SmallEntities 2023-01-25 2024-01-31 14616439 bus:AuditExemptWithAccountantsReport 2023-01-25 2024-01-31 14616439 bus:FullAccounts 2023-01-25 2024-01-31 14616439 bus:SmallCompaniesRegimeForAccounts 2023-01-25 2024-01-31 14616439 bus:RegisteredOffice 2023-01-25 2024-01-31 14616439 bus:Director1 2023-01-25 2024-01-31 14616439 bus:Director2 2023-01-25 2024-01-31 14616439 bus:PrivateLimitedCompanyLtd 2023-01-25 2024-01-31 14616439 countries:EnglandWales 2023-01-25 2024-01-31 iso4217:GBP xbrli:pure

Registration number: 14616439

SJ Russell Estates Limited

Annual Report and Unaudited Financial Statements

for the Period from 25 January 2023 to 31 January 2024

 

SJ Russell Estates Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

SJ Russell Estates Limited

Company Information

Directors

Mr J Russell

Mr S Russell

Registered office

Aldergate
Church Lane
Clifton
Preston
PR4 0ZE

Accountants

Rotherham Taylor Limited
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

SJ Russell Estates Limited

(Registration number: 14616439)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Investment property

4

110,000

Current assets

 

Cash at bank and in hand

 

2,663

Creditors: Amounts falling due within one year

5

(37,827)

Net current liabilities

 

(35,164)

Total assets less current liabilities

 

74,836

Creditors: Amounts falling due after more than one year

5

(54,960)

Provisions for liabilities

(6,392)

Net assets

 

13,484

Capital and reserves

 

Called up share capital

2

Retained earnings

13,482

Shareholders' funds

 

13,484

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 September 2024 and signed on its behalf by:
 

.........................................
Mr J Russell
Director

   
     
 

SJ Russell Estates Limited

Notes to the Unaudited Financial Statements for the Period from 25 January 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Aldergate
Church Lane
Clifton
Preston
PR4 0ZE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from the rental of property in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

SJ Russell Estates Limited

Notes to the Unaudited Financial Statements for the Period from 25 January 2023 to 31 January 2024

Investment property

Investment property is recognised at cost on initial recognition. Subsequently, investment property is measured at fair value at the reporting date with any changes recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

SJ Russell Estates Limited

Notes to the Unaudited Financial Statements for the Period from 25 January 2023 to 31 January 2024

4

Investment properties

2024
£

Additions

76,358

Fair value adjustment

33,642

At 31 January

110,000

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

6

36,357

Accruals and deferred income

 

720

Other creditors

 

750

 

37,827

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

6

54,960

6

Loans and borrowings

2024
£

Non-current loans and borrowings

Bank borrowings

54,960

2024
£

Current loans and borrowings

Directors' loan accounts

36,357

Directors' loan accounts are non-interest bearing and have no formal repayment terms.