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REGISTERED NUMBER: 09283094 (England and Wales)







Financial Statements for the Year Ended 31 December 2023

for

Rush (High Wycombe) Limited

Rush (High Wycombe) Limited (Registered number: 09283094)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rush (High Wycombe) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P I Haagaas
T I McClure
D E Melhus



REGISTERED OFFICE: Unit 5 Patchway Trading Estate
Britannia Road
Patchway
Bristol
BS34 5TA



REGISTERED NUMBER: 09283094 (England and Wales)



SENIOR STATUTORY AUDITOR: Matthew Dobbins FCA



AUDITORS: Dunkley's
Statutory Auditor
Chartered Accountants
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Rush (High Wycombe) Limited (Registered number: 09283094)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 151 1,318
Tangible assets 5 966,474 1,103,839
966,625 1,105,157

CURRENT ASSETS
Stocks 4,882 54,465
Debtors 6 723,935 124,786
Cash at bank 78,882 100,291
807,699 279,542
CREDITORS
Amounts falling due within one year 7 (987,556 ) (1,041,812 )
NET CURRENT LIABILITIES (179,857 ) (762,270 )
TOTAL ASSETS LESS CURRENT LIABILITIES 786,768 342,887

PROVISIONS FOR LIABILITIES (220,902 ) (191,012 )
NET ASSETS 565,866 151,875

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 565,864 151,873
SHAREHOLDERS' FUNDS 565,866 151,875

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





T I McClure - Director


Rush (High Wycombe) Limited (Registered number: 09283094)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Rush (High Wycombe) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods
Revenue arises from the sale of merchandise. Revenue is recognised when the customer accepts delivery of the goods.

Rendering of services
The services provided generally take place on a single day, or over-night.

Revenue is recognised on customer arrival and is measured at the fair value of the consideration received.

Revenue for advance bookings is deferred and recognised on customer arrival or in the case of cancelled
bookings on the date of cancellation.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 15 years and Straight line over 5 years
Fixtures and fittings - Straight line over 15 years
Computer equipment - Straight line over 5 years

Tangible fixed assets are initially recognised at the combined cost of the asset, plus installation and delivery.
These assets are recognised on the date that the goods are delivered, and installed where the purchase includes this service.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss.
Reversals of impairment losses are also recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Rush (High Wycombe) Limited (Registered number: 09283094)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Basic financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments to all of its financial instruments.

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 75 (2022 - 79 ) .

Rush (High Wycombe) Limited (Registered number: 09283094)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 22,103
AMORTISATION
At 1 January 2023 20,785
Charge for year 1,167
At 31 December 2023 21,952
NET BOOK VALUE
At 31 December 2023 151
At 31 December 2022 1,318

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 1,079,331 1,157,641 5,814 2,242,786
Additions 3,599 - 639 4,238
Disposals (292 ) - - (292 )
At 31 December 2023 1,082,638 1,157,641 6,453 2,246,732
DEPRECIATION
At 1 January 2023 631,304 506,653 990 1,138,947
Charge for year 62,940 77,176 1,195 141,311
At 31 December 2023 694,244 583,829 2,185 1,280,258
NET BOOK VALUE
At 31 December 2023 388,394 573,812 4,268 966,474
At 31 December 2022 448,027 650,988 4,824 1,103,839

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 290 1,905
Amounts owed by group undertakings 584,986 -
Other debtors 21,978 21,978
Prepayments and accrued income 116,681 100,903
723,935 124,786

Rush (High Wycombe) Limited (Registered number: 09283094)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 67,788 80,952
Amounts owed to group undertakings 638,401 715,192
Tax 173,708 135,708
Social security and other taxes 3,622 3,915
VAT 74,421 77,712
Other creditors 899 828
Accruals and deferred income 28,717 27,505
987,556 1,041,812

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 264,000 -
Between one and five years 198,000 -
462,000 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2 Ordinary £1 2 2

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Dobbins FCA (Senior Statutory Auditor)
for and on behalf of Dunkley's

11. PENSION COMMITMENTS

During the year, the company operated a defined contribution pension scheme through an external provider.

Employer contributions to the scheme for the year totalled £4,674 (2022 - £5,499).

Accrued pension contributions outstanding at the balance date totalled £899 (2022 - £828).

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

Rush (High Wycombe) Limited (Registered number: 09283094)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. ULTIMATE CONTROLLING PARTY

The parent of the smallest and largest group for which consolidated financial statements are drawn up of which this company is a member is Parc Invest AS, a company registered in Norway.

The registered office of the parent is Holtet 45, 1368 Stabekk, Norway.