Russell Associates (Architecture) Limited 04663438 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a property investment company Digita Accounts Production Advanced 6.30.9574.0 true true 04663438 2023-01-01 2023-12-31 04663438 2023-12-31 04663438 bus:OrdinaryShareClass1 2023-12-31 04663438 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04663438 core:FurnitureFittingsToolsEquipment 2023-12-31 04663438 bus:SmallEntities 2023-01-01 2023-12-31 04663438 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04663438 bus:FilletedAccounts 2023-01-01 2023-12-31 04663438 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04663438 bus:RegisteredOffice 2023-01-01 2023-12-31 04663438 bus:Director1 2023-01-01 2023-12-31 04663438 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04663438 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04663438 core:FurnitureFittings 2023-01-01 2023-12-31 04663438 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 04663438 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-01-01 2023-12-31 04663438 core:OtherRelatedParties 2023-01-01 2023-12-31 04663438 core:UKTax 2023-01-01 2023-12-31 04663438 countries:England 2023-01-01 2023-12-31 04663438 2022-12-31 04663438 core:FurnitureFittingsToolsEquipment 2022-12-31 04663438 2022-01-01 2022-12-31 04663438 2022-12-31 04663438 bus:OrdinaryShareClass1 2022-12-31 04663438 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04663438 core:FurnitureFittingsToolsEquipment 2022-12-31 04663438 core:UKTax 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04663438

Russell Associates (Architecture) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Russell Associates (Architecture) Limited

Contents

Company Information

1

Director's Report

2

Profit and Loss Account

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 11

 

Russell Associates (Architecture) Limited

Company Information

Director

Paul Russell

Registered office

Unit 4 Hopyard Studios
13 Lovibond Lane
Greenwich
London
SE10 9FY

Accountants

Field Sullivan Limited
9 Hare & Billet Road
Blackheath
SE3 0RB

 

Russell Associates (Architecture) Limited

Director's Report for the Year Ended 31 December 2023

The director presents his report and the financial statements for the year ended 31 December 2023.

Director of the company

The director who held office during the year was as follows:

Paul Russell

Principal activity

The principal activity of the company is that of a property investment company

Small companies provision statement

This report has 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.

Approved and authorised by the director on 21 October 2024
 

.........................................
Paul Russell
Director

 

Russell Associates (Architecture) Limited

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

 

51,754

45,792

Gross profit

 

51,754

45,792

Administrative expenses

 

13,782

599,250

Operating profit

 

65,536

645,042

Interest payable and similar expenses

 

(117)

(210)

Profit before tax

4

65,419

644,832

Tax on profit

 

(16,422)

(160,046)

Profit for the financial year

 

48,997

484,786

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Russell Associates (Architecture) Limited

(Registration number: 04663438)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

77

103

Investment property

7

1,350,000

1,325,000

 

1,350,077

1,325,103

Current assets

 

Cash at bank and in hand

 

2,943

17,338

Creditors: Amounts falling due within one year

8

(527,579)

(574,734)

Net current liabilities

 

(524,636)

(557,396)

Total assets less current liabilities

 

825,441

767,707

Provisions for liabilities

(165,153)

(156,416)

Net assets

 

660,288

611,291

Capital and reserves

 

Called up share capital

10

100

100

Revaluation reserve

-

16,633

Retained earnings

660,188

594,558

Shareholders' funds

 

660,288

611,291

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Russell Associates (Architecture) Limited

(Registration number: 04663438)
Balance Sheet as at 31 December 2023

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 October 2024
 

.........................................
Paul Russell
Director

 

Russell Associates (Architecture) Limited

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

1

General information

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

The address of its registered office is:
Unit 4 Hopyard Studios
13 Lovibond Lane
Greenwich
London
SE10 9FY

These financial statements were authorised for issue by the director on 21 October 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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 rent is recognised on an accruals basis.

 

Russell Associates (Architecture) Limited

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

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred taxation is provided on the liability method to take account of timing differences between the
treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or
accelerated is accounted for in respect of all material timing differences.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Russell Associates (Architecture) Limited

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

26

34

5

Taxation

Tax charged/(credited) in the income statement

2023
£

2022
£

Current taxation

UK corporation tax

7,685

6,835

Deferred taxation

Arising from origination and reversal of timing differences

8,737

153,211

Tax expense in the income statement

16,422

160,046

 

Russell Associates (Architecture) Limited

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

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

1,531

1,531

At 31 December 2023

1,531

1,531

Depreciation

At 1 January 2023

1,428

1,428

Charge for the year

26

26

At 31 December 2023

1,454

1,454

Carrying amount

At 31 December 2023

77

77

At 31 December 2022

103

103

7

Investment properties

2023
£

At 1 January

1,325,000

Fair value adjustments

25,000

At 31 December

1,350,000

The investment properties were revalued at the year end by the director.

There has been no valuation of investment property by an independent valuer.

 

Russell Associates (Architecture) Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Directors loan account

9

510,297

557,699

Taxation and social security

 

10,371

9,404

Accruals and deferred income

 

858

1,578

Other creditors

 

6,053

6,053

 

527,579

574,734

9

Related party transactions

Summary of transactions with entities with joint control or significant interest


Russell Associates Architects Limited

 
(Russell Associates Architects Limited are under common control)

 At the balance sheet date the amount due to Russell Associates Architects Limited was £4,053 (2022: £4,053).


 

Summary of transactions with other related parties


Paul Russell

 
(Director and shareholder)

 
During the year the director withdrew £40,000 (2022: £20,250). At the balance sheet date the amount due to the director was £510,154 (2022: £557,700).
 

 

Russell Associates (Architecture) Limited

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

10

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100