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REGISTERED NUMBER: 04658122 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 March 2024

for

Russell Haines Limited

Russell Haines Limited (Registered number: 04658122)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Russell Haines Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R R Haines



REGISTERED OFFICE: Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB



REGISTERED NUMBER: 04658122 (England and Wales)



ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB



BANKERS: HSBC
227 Station Road
Balsall Common
Coventry
West Midlands
CV7 7FE

Russell Haines Limited (Registered number: 04658122)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 29,238 36,084
29,238 36,084

CURRENT ASSETS
Stocks 6 5,020 5,020
Debtors 7 430,212 433,880
Cash at bank and in hand 572 812
435,804 439,712
CREDITORS
Amounts falling due within one year 8 148,396 139,269
NET CURRENT ASSETS 287,408 300,443
TOTAL ASSETS LESS CURRENT
LIABILITIES

316,646

336,527

CREDITORS
Amounts falling due after more than one
year

9

(27,139

)

(32,047

)

PROVISIONS FOR LIABILITIES (268 ) (1,231 )
NET ASSETS 289,239 303,249

CAPITAL AND RESERVES
Called up share capital 11 400 400
Retained earnings 288,839 302,849
SHAREHOLDERS' FUNDS 289,239 303,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Russell Haines Limited (Registered number: 04658122)

Statement of Financial Position - continued
31 March 2024


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 director and authorised for issue on 10 October 2024 and were signed by:





R R Haines - Director


Russell Haines Limited (Registered number: 04658122)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Russell Haines 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Russell Haines Limited (Registered number: 04658122)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Loans from directors
Any loans from the Directors to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2023 - 51 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 200,000
AMORTISATION
At 1 April 2023
and 31 March 2024 200,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 April 2023 33,361 56,790 90,151
Additions - 7,400 7,400
Disposals - (6,704 ) (6,704 )
At 31 March 2024 33,361 57,486 90,847
DEPRECIATION
At 1 April 2023 29,385 24,682 54,067
Charge for year 597 9,878 10,475
Eliminated on disposal - (2,933 ) (2,933 )
At 31 March 2024 29,982 31,627 61,609
NET BOOK VALUE
At 31 March 2024 3,379 25,859 29,238
At 31 March 2023 3,976 32,108 36,084

Russell Haines Limited (Registered number: 04658122)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. STOCKS
2024 2023
£    £   
Stocks 5,020 5,020

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 136,705 140,436
Other debtors 57,036 57,036
Directors' current accounts 224,795 224,795
Called up share capital not paid 400 400
Prepayments 11,276 11,213
430,212 433,880

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 19,903 9,220
Trade creditors 19,966 24,629
Tax 19,919 23,695
Social security and other taxes 7,613 5,190
VAT 72,583 68,968
Other creditors 3,195 2,789
Credit card creditor 144 -
Accrued expenses 5,073 4,778
148,396 139,269

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,428 5,341
Bank loans - 2-5 years 21,711 26,706
27,139 32,047

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 14,475 3,879
Bank loans 32,567 37,388
47,042 41,267

Russell Haines Limited (Registered number: 04658122)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary "A-C" £1 300 300

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
R R Haines
Balance outstanding at start of year 224,794 224,794
Amounts advanced 77,888 129,111
Amounts repaid (77,888 ) (129,111 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 224,794 224,794

The balance is interest free and repayable on demand.