Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22023-03-01falseNo description of principal activity2truetrue 02873208 2023-03-01 2024-02-29 02873208 2022-03-01 2023-02-28 02873208 2024-02-29 02873208 2023-02-28 02873208 c:Director2 2023-03-01 2024-02-29 02873208 d:FurnitureFittings 2023-03-01 2024-02-29 02873208 d:FurnitureFittings 2024-02-29 02873208 d:FurnitureFittings 2023-02-28 02873208 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 02873208 d:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 02873208 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 02873208 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 02873208 d:CurrentFinancialInstruments 2024-02-29 02873208 d:CurrentFinancialInstruments 2023-02-28 02873208 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 02873208 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 02873208 d:ShareCapital 2024-02-29 02873208 d:ShareCapital 2023-02-28 02873208 d:RetainedEarningsAccumulatedLosses 2024-02-29 02873208 d:RetainedEarningsAccumulatedLosses 2023-02-28 02873208 c:FRS102 2023-03-01 2024-02-29 02873208 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 02873208 c:FullAccounts 2023-03-01 2024-02-29 02873208 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 02873208 2 2023-03-01 2024-02-29 02873208 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 02873208









RUSHMANS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
RUSHMANS LIMITED
REGISTERED NUMBER: 02873208

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 5 
16,366
20,514

  
16,366
20,514

Current assets
  

Debtors: amounts falling due within one year
 6 
237,695
211,066

Cash at bank and in hand
 7 
67,000
61,884

  
304,695
272,950

Creditors: amounts falling due within one year
 8 
(446,664)
(410,521)

Net current liabilities
  
 
 
(141,969)
 
 
(137,571)

Total assets less current liabilities
  
(125,603)
(117,057)

  

Net liabilities
  
(125,603)
(117,057)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(125,605)
(117,059)

  
(125,603)
(117,057)


Page 1

 
RUSHMANS LIMITED
REGISTERED NUMBER: 02873208
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N S Rushman
Director

Date: 19 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Rushmans Limited is a private company, limited by shares, registered in England and Wales (registration number 02873208). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The principal activity of the company continued to be that of strategic advice, management consultancy and sales and marketing of sports rights.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months following the approval of these financial statements.
As at 29 February 2024, the company had net liabilities of £125,603. The directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on both a straight line and reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% reducing balance
Website development
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Intangible assets






Software development

£



Cost


At 1 March 2023
108,595



At 29 February 2024

108,595



Amortisation


At 1 March 2023
108,595



At 29 February 2024

108,595



Net book value



At 29 February 2024
-



At 28 February 2023
-



Page 6

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Fixtures and fittings

£



Cost or valuation


At 1 March 2023
70,164


Additions
1,255



At 29 February 2024

71,419



Depreciation


At 1 March 2023
49,651


Charge for the year on owned assets
5,403



At 29 February 2024

55,054



Net book value



At 29 February 2024
16,365



At 28 February 2023
20,514


6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
25,000
-

Other debtors
2,695
1,066

Prepayments and accrued income
210,000
210,000

237,695
211,066


Page 7

 
RUSHMANS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
67,000
61,884

Less: bank overdrafts
(1)
-

66,999
61,884



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank overdrafts
1
-

Trade creditors
73,433
89,654

Corporation tax
(71,682)
(74,101)

Other taxation and social security
1,327
3,629

Other creditors
408,125
355,879

Accruals and deferred income
35,460
35,460

446,664
410,521


 
Page 8