Company Registration No. 12650649 (England and Wales)
Russell Express Ltd
Unaudited accounts
for the year ended 29 February 2024
Russell Express Ltd
Unaudited accounts
Contents
Russell Express Ltd
Company Information
for the year ended 29 February 2024
Company Number
12650649 (England and Wales)
Registered Office
89 Russell Lane
London
N20 0BA
United Kingdom
Accountants
DNG Associates
214 Baker Street
Enfield
London
EN1 3JT
Russell Express Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
16,373
19,967
Cash at bank and in hand
10,323
4,104
Creditors: amounts falling due within one year
(54,284)
(47,622)
Net current assets/(liabilities)
63
(4,494)
Called up share capital
100
100
Profit and loss account
16,336
15,373
Shareholders' funds
16,436
15,473
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 November 2024 and were signed on its behalf by
Mr S Aydemir
Director
Company Registration No. 12650649
Russell Express Ltd
Notes to the Accounts
for the year ended 29 February 2024
Russell Express Ltd is a private company, limited by shares, registered in England and Wales, registration number 12650649. The registered office is 89 Russell Lane, London, N20 0BA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% - reducing balance
Motor vehicles
18% - reducing balance
Fixtures & fittings
18% - reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Russell Express Ltd
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
10,000
11,500
4,000
25,500
At 29 February 2024
10,000
11,500
4,000
25,500
At 1 March 2023
1,800
3,013
720
5,533
Charge for the year
1,476
1,528
590
3,594
At 29 February 2024
3,276
4,541
1,310
9,127
At 29 February 2024
6,724
6,959
2,690
16,373
At 28 February 2023
8,200
8,487
3,280
19,967
Amounts falling due within one year
Accrued income and prepayments
4,250
-
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
969
1,245
Other creditors
47,259
45,037
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Transactions with related parties
Included within other creditors is an amount of £47,259 (2023: £45,038) due to the director of the company. There are no terms as to interest or repayment in respect of this balance.
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).