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Registered number: 07081589














THE RUSSELL SCOTT ORGANISATION LIMITED FORMERLY "RUSSELL SCOTT ENTERTAINMENT LIMITED"
UNAUDITED
FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 31 MARCH 2024

 
THE RUSSELL SCOTT ORGANISATION LIMITED FORMERLY "RUSSELL SCOTT ENTERTAINMENT LIMITED"
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
THE RUSSELL SCOTT ORGANISATION LIMITED FORMERLY "RUSSELL SCOTT ENTERTAINMENT LIMITED"
REGISTERED NUMBER:07081589

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
36,657
42,017

Current assets
  

Debtors: amounts falling due within one year
 5 
7,600
2,015

Cash at bank and in hand
  
2,955
2,794

  
10,555
4,809

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(12,636)
(10,541)

Net current liabilities
  
 
 
(2,081)
 
 
(5,732)

Total assets less current liabilities
  
34,576
36,285

Creditors: amounts falling due after more than one year
 7 
(25,656)
(28,052)

Provisions for liabilities
  

Deferred tax
 9 
(6,965)
(7,983)

Net assets
  
1,955
250


Capital and reserves
  

Called up share capital 
 10 
125
125

Profit and loss account
  
1,830
125

  
1,955
250


Page 1

 
THE RUSSELL SCOTT ORGANISATION LIMITED FORMERLY "RUSSELL SCOTT ENTERTAINMENT LIMITED"
REGISTERED NUMBER:07081589
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 on 7 November 2024.




R J Scott
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
THE RUSSELL SCOTT ORGANISATION LIMITED FORMERLY "RUSSELL SCOTT ENTERTAINMENT LIMITED"
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Russell Scott Entertainment Limited is a limited company incorporated in England & Wales with its principal place of business and registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The company changed name on 28 June 2024 from Russell Scott Entertainment Limited to The Russell Scott Organisation Limited
The principal activity of the Company continued to be that of management and production.
The company's functional and presentational currency is £ Sterling.

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 Company made a loss for the year and at the balance sheet date has net current liabilities and net liabilities. Assurance has been obtained from the Director and Shareholder that funds will be made available to the Company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis.

 
2.3

Turnover

Turnover comprises revenue recognised by the Company in respect of goods and servies supplied during the year, exclusive of Value Added Tax and trade discounts. 
Turnover is recognised when the service is provided. 

Page 3

 
THE RUSSELL SCOTT ORGANISATION LIMITED FORMERLY "RUSSELL SCOTT ENTERTAINMENT LIMITED"
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.



Depreciation is provided on the following basis:

Plant & machinery
-
10%
Straight line basis
Office equipment
-
10%
Reducing balance basis

 
2.5

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.8

Interest income

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

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
THE RUSSELL SCOTT ORGANISATION LIMITED FORMERLY "RUSSELL SCOTT ENTERTAINMENT LIMITED"
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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).


4.


Tangible fixed assets





Plant & machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
43,426
18,383
61,809



At 31 March 2024

43,426
18,383
61,809



Depreciation


At 1 April 2023
11,420
8,372
19,792


Charge for the year on owned assets
4,343
1,017
5,360



At 31 March 2024

15,763
9,389
25,152



Net book value



At 31 March 2024
27,663
8,994
36,657



At 31 March 2023
32,006
10,011
42,017


5.


Debtors

2024
2023
£
£


Trade debtors
-
1,915

Other debtors
7,600
100
Page 5

 
THE RUSSELL SCOTT ORGANISATION LIMITED FORMERLY "RUSSELL SCOTT ENTERTAINMENT LIMITED"
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.Debtors (continued)


7,600
2,015



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
7,000
7,000

Other taxation and social security
1,590
1,989

Other creditors
3,531
1,102

Accruals and deferred income
515
450

12,636
10,541



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
25,656
28,052



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
7,000
7,000


Amounts falling due 2-5 years

Other loans
25,656
28,052


32,656
35,052


Page 6

 
THE RUSSELL SCOTT ORGANISATION LIMITED FORMERLY "RUSSELL SCOTT ENTERTAINMENT LIMITED"
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024


£






At beginning of year
(7,983)


Charged to profit or loss
1,018



At end of year
(6,965)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(6,965)
(7,983)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



125 (2023 - 125) Ordinary shares of £1 each
125
125


 
Page 7