REGISTERED NUMBER: |
RUSSELL & RUSSELL BUSINESS ADVISERS |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JANUARY 2024 |
REGISTERED NUMBER: |
RUSSELL & RUSSELL BUSINESS ADVISERS |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JANUARY 2024 |
RUSSELL & RUSSELL BUSINESS ADVISERS |
LIMITED (REGISTERED NUMBER: SC226378) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JANUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RUSSELL & RUSSELL BUSINESS ADVISERS |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST JANUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
RUSSELL & RUSSELL BUSINESS ADVISERS |
LIMITED (REGISTERED NUMBER: SC226378) |
BALANCE SHEET |
31ST JANUARY 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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 & RUSSELL BUSINESS ADVISERS |
LIMITED (REGISTERED NUMBER: SC226378) |
BALANCE SHEET - continued |
31ST JANUARY 2024 |
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 |
RUSSELL & RUSSELL BUSINESS ADVISERS |
LIMITED (REGISTERED NUMBER: SC226378) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JANUARY 2024 |
1. | STATUTORY INFORMATION |
Russell & Russell Business Advisers Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to continue to operate for the foreseeable future. |
Turnover |
The turnover shown in the profit and loss account represents the fees earned and expenses reimbursed during the year, exclusive of Value Added Tax. Turnover in respect of contracts for on-going services is recognised by reference to the estimated stage of completion. |
Goodwill |
Goodwill arising on the acquisition of a business acquired on 1st November, 2003, representing the excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, has been capitalised and is being written off on a straight line basis over its useful economic life of 20 years. |
Tangible fixed assets |
Office equipment | - 25% straight line |
Furniture & fittings | - 15% to 20% straight line |
Government grants |
Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate. |
Revenue grants are credited to the profit and loss account to match the related expenditure. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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. |
RUSSELL & RUSSELL BUSINESS ADVISERS |
LIMITED (REGISTERED NUMBER: SC226378) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JANUARY 2024 |
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. |
Operating leases |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
Pensions paid are charged to the profit and loss account in the period in which they are paid. |
The company operates a defined contribution group personal pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st February 2023 |
and 31st January 2024 |
AMORTISATION |
At 1st February 2023 |
Amortisation for year |
At 31st January 2024 |
NET BOOK VALUE |
At 31st January 2024 |
At 31st January 2023 |
RUSSELL & RUSSELL BUSINESS ADVISERS |
LIMITED (REGISTERED NUMBER: SC226378) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JANUARY 2024 |
5. | TANGIBLE FIXED ASSETS |
Furniture | Office |
& fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1st February 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31st January 2024 |
DEPRECIATION |
At 1st February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31st January 2024 |
NET BOOK VALUE |
At 31st January 2024 |
At 31st January 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts recoverable on contracts |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Payments on account |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans (see note 9) |
Other creditors |
RUSSELL & RUSSELL BUSINESS ADVISERS |
LIMITED (REGISTERED NUMBER: SC226378) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JANUARY 2024 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.1.24 | 31.1.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.24 | 31.1.23 |
value: | £ | £ |
"A" ordinary | £1 | 132 | 132 |
"B" ordinary | £1 | 68 | 68 |
"C" ordinary | £1 | 49 | 49 |
16 | "D" ordinary | £1 | 16 | 16 |
49 | "E" ordinary | £1 | 49 | 49 |
16 | "F" ordinary | £1 | 16 | 16 |
330 | 330 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31st January 2024 and 31st January 2023: |
31.1.24 | 31.1.23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
This amount bears no interest. |
12. | ULTIMATE CONTROLLING PARTY |
The company was considered to be under the control of the directors throughout the current and previous year. |
On 4th November, 2022 the company became a subsidiary of Russell + Russell Holdings Limited. The directors are the majority shareholders of Russell + Russell Holdings Ltd. |
Russell + Russell Holdings Limited is a company registered in Scotland and its company number is SC738882. Its registered office is 4 Royal Crescent, Glasgow, Scotland, G3 7SL. |