Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-0111The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue 11285112 2023-01-01 2023-12-31 11285112 2022-01-01 2022-12-31 11285112 2023-12-31 11285112 2022-12-31 11285112 c:Director1 2023-01-01 2023-12-31 11285112 d:ComputerEquipment 2023-01-01 2023-12-31 11285112 d:ComputerEquipment 2023-12-31 11285112 d:ComputerEquipment 2022-12-31 11285112 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11285112 d:CurrentFinancialInstruments 2023-12-31 11285112 d:CurrentFinancialInstruments 2022-12-31 11285112 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11285112 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11285112 d:ShareCapital 2023-12-31 11285112 d:ShareCapital 2022-12-31 11285112 d:RetainedEarningsAccumulatedLosses 2023-12-31 11285112 d:RetainedEarningsAccumulatedLosses 2022-12-31 11285112 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11285112 c:OrdinaryShareClass1 2023-12-31 11285112 c:OrdinaryShareClass1 2022-12-31 11285112 c:FRS102 2023-01-01 2023-12-31 11285112 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11285112 c:FullAccounts 2023-01-01 2023-12-31 11285112 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11285112 2 2023-01-01 2023-12-31 11285112 6 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11285112














RUSSET LONDON LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
RUSSET LONDON LIMITED
REGISTERED NUMBER:11285112

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
87

  
-
87

Current assets
  

Debtors
 5 
-
327,040

Current asset investments
 6 
18,171,777
17,079,545

Cash at bank and in hand
 7 
77,801
90,862

  
18,249,578
17,497,447

Creditors: amounts falling due within one year
 8 
(15,300,677)
(15,188,504)

Net current assets
  
 
 
2,948,901
 
 
2,308,943

Total assets less current liabilities
  
2,948,901
2,309,030

Provisions for liabilities
  

Deferred tax
  
(181,561)
-

  
 
 
(181,561)
 
 
-

Net assets
  
2,767,340
2,309,030


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
2,767,240
2,308,930

  
2,767,340
2,309,030

Page 1

 
RUSSET LONDON LIMITED
REGISTERED NUMBER:11285112
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2024.




J Dhanani
Director

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
RUSSET LONDON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Russet London Limited is a private company, limited by shares, registered in England and Wales, registration number 11285112. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of investment holding.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'administration expenses'. All other foreign exchange gains and losses are presented in profit or loss.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.4

Dividend income

Dividend income is recognised in the year in which the company's right to receive dividend is established.
Page 3

 
RUSSET LONDON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
20%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the year.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.9

 Creditors

Short-term creditors are measured at the transaction price. 

Page 4

 
RUSSET LONDON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, other creditors, and loans with related parties.


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 January 2023
1,993



At 31 December 2023

1,993



Depreciation


At 1 January 2023
1,906


Charge for the year
87



At 31 December 2023

1,993



Net book value



At 31 December 2023
-



At 31 December 2022
87


5.


Debtors

2023
2022
£
£



Deferred tax
-
327,040


6.


Current asset investments

2023
2022
£
£

Listed investments
18,171,777
17,079,545


Page 5

 
RUSSET LONDON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash

2023
2022
£
£

Cash at bank and in hand
77,801
90,862



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Corporation tax
113,671
1,379

Other creditors
15,179,020
15,179,020

Accruals
7,986
8,105

15,300,677
15,188,504


The director holds a negative pledge over the assets of the company in respect of all the amounts due from the company.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


10.


Transactions with the director

As at the year end, the company owed £15,179,020 (2022 - £15,179,020) to the director. This loan is interest free and repayable on demand. The loan from the director has been secured over the assets of the company.
Page 6