Russell Property Investments Limited


FINANCIAL STATEMENTS


for the year ended 31st January 2024



Russell Property Investments Limited

CONTENTS

for the year ended 31st January 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Russell Property Investments Limited

Company No. 12396948

STATEMENT OF FINANCIAL POSITION

as at 31st January 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment4241133238945
241133238945
CURRENT ASSETS
Debtors5276276
Cash at bank and in hand1567317698
1594917974
CURRENT LIABILITIES
Creditors: amounts falling due
within one year61385018053
NET CURRENT ASSETS/(LIABILITIES)2099(79)
TOTAL ASSETS LESS CURRENT LIABILITIES243232238866
 
Creditors: amounts falling due
after more than one year7238000238000
 
NET ASSETS5232866
 
CAPITAL AND RESERVES
Called up share capital11
Retained earnings5231865
SHAREHOLDERS FUNDS5232866

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st January 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 10 May 2024


M J Russell

Director

Company Number 12396948 (England)

Russell Property Investments Limited

NOTES TO THE ACCOUNTS

for the year ended 31st January 2024


1   Statutory information

Russell Property Investments Limited is a private company limited by shares and registered under company number 12396948 in England. Its registered office address is 12 Hatherley Road, Sidcup, Kent DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles25% reducing balance

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3   Employee information

The average number of employees during the accounting period was 1 (2023 - 1).

4   Property, plant and equipment
 
Fixtures
Land andand
BuildingsFittingsTotal
£££
Cost
At 1st February 2023 2380002240240240
Additions-3866438664
Disposals(36240)-(36240)
At 31st January 202420176040904242664
 
Depreciation
At 1st February 2023 -12951295
Charge for year-236236
At 31st January 2024-15311531
 
Net Book Value
At 31st January 202420176039373241133
At 31st January 2023238000945238945

5   Debtors20242023
££
 
Trade Debtors276276
276276

6   Creditors: amounts falling due within one year20242023
££
 
Other creditors1385018053
1385018053

7   Creditors: amounts falling due after one year20242023
££
 
Loans and Overdrafts156200156200
Other creditors8180081800
238000238000

8   Loans20242023
££
Analysis of maturity of debt:
 
After five years156200156200
156200156200
Secured loans156200156200

Loans are secured by mortgage

Loan amounts payable after five years can be analysed as follows:
 
Repayment TermsInterest Rate (%)
Bank LoansNot by installments5156200156200
156200156200

9   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
M J Russell1046015059
1046015059

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