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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
Page
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Russell Express Ltd Company Information for the year ended 29 February 2024
Director
Mr S Aydemir
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
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Russell Express Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
16,373 
19,967 
Current assets
Inventories
39,774 
39,024 
Debtors
4,250 
- 
Cash at bank and in hand
10,323 
4,104 
54,347 
43,128 
Creditors: amounts falling due within one year
(54,284)
(47,622)
Net current assets/(liabilities)
63 
(4,494)
Net assets
16,436 
15,473 
Capital and reserves
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
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Russell Express Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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.
Pension costs
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.
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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 
Depreciation
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 
Net book value
At 29 February 2024
6,724 
6,959 
2,690 
16,373 
At 28 February 2023
8,200 
8,487 
3,280 
19,967 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
4,250 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,626 
1,340 
Trade creditors
4,430 
- 
Taxes and social security
969 
1,245 
Other creditors
47,259 
45,037 
54,284 
47,622 
7
Share capital
2024 
2023 
£ 
£ 
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).
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