Registered number
04200793
Rushton Hickman Limited
Filleted Accounts
30 September 2024
Rushton Hickman Limited
Registered number: 04200793
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 100,000 100,000
Tangible assets 4 2,054 4,477
102,054 104,477
Current assets
Debtors 5 171,892 241,981
Cash at bank and in hand 58,476 32,427
230,368 274,408
Creditors: amounts falling due within one year 6 (114,921) (138,441)
Net current assets 115,447 135,967
Total assets less current liabilities 217,501 240,444
Creditors: amounts falling due after more than one year 7 (12,748) (22,698)
Net assets 204,753 217,746
Capital and reserves
Called up share capital 1 1
Profit and loss account 204,752 217,745
Shareholders' funds 204,753 217,746
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Bancroft
Director
Approved by the board on 22 November 2024
Rushton Hickman Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 200,000
At 30 September 2024 200,000
Amortisation
At 1 October 2023 100,000
At 30 September 2024 100,000
Net book value
At 30 September 2024 100,000
At 30 September 2023 100,000
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 7,177 21,383 28,560
At 30 September 2024 7,177 21,383 28,560
Depreciation
At 1 October 2023 6,518 17,565 24,083
Charge for the year 329 2,094 2,423
At 30 September 2024 6,847 19,659 26,506
Net book value
At 30 September 2024 330 1,724 2,054
At 30 September 2023 659 3,818 4,477
5 Debtors 2024 2023
£ £
Trade debtors 71,060 68,497
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 6,160
Other debtors 100,832 167,324
171,892 241,981
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,688 9,688
Trade creditors 8,000 4,106
Taxation and social security costs 56,686 52,296
Other creditors 40,547 72,351
114,921 138,441
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,748 22,698
8 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr M D Richardson
Directors Loan Account 5,853 - 312 6,165
Mr C Birds
Directors Loan Account 5,853 - 312 6,165
Mr G Bancroft
Directors Loan Account 6,285 - 312 6,597
17,991 - 936 18,927
9 Other information
Rushton Hickman Limited is a private company limited by shares and incorporated in England. Its registered office is:
186 Horninglow Street
Anson Court
Burton on Trent
Staffordshire
DE14 1NG
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