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REGISTERED NUMBER: 07570457 (England and Wales)















RUSSELLS PIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






RUSSELLS PIES LIMITED (REGISTERED NUMBER: 07570457)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RUSSELLS PIES LIMITED

COMPANY INFORMATION
for the Year Ended 30 APRIL 2024







DIRECTORS: Mr A G Pritchard
Mrs J Pritchard
Mr D White
Mr H A A Pritchard





REGISTERED OFFICE: Unit B7
Haybrook Industrial Estate
Halesfield 9
Telford
Shrophsire
TF7 4QW





REGISTERED NUMBER: 07570457 (England and Wales)





ACCOUNTANTS: Wallace Crooke
Chartered Accountants
College House
St. Leonards Close
Bridgnorth
Shropshire
WV16 4EJ

RUSSELLS PIES LIMITED (REGISTERED NUMBER: 07570457)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 21,000 24,000
Tangible assets 5 54,713 48,769
75,713 72,769

CURRENT ASSETS
Stocks 20,050 19,500
Debtors 6 76,996 71,398
Cash at bank 625 808
97,671 91,706
CREDITORS
Amounts falling due within one year 7 153,505 135,441
NET CURRENT LIABILITIES (55,834 ) (43,735 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,879

29,034

CREDITORS
Amounts falling due after more than one
year

8

229,929

185,250
NET LIABILITIES (210,050 ) (156,216 )

CAPITAL AND RESERVES
Called up share capital 9 20,002 20,002
Retained earnings (230,052 ) (176,218 )
SHAREHOLDERS' FUNDS (210,050 ) (156,216 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RUSSELLS PIES LIMITED (REGISTERED NUMBER: 07570457)

BALANCE SHEET - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





Mr A G Pritchard - Director


RUSSELLS PIES LIMITED (REGISTERED NUMBER: 07570457)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 APRIL 2024

1. STATUTORY INFORMATION

Russells Pies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This may not be appropriate because at 30th April 2024 the company's liabilities exceeded its assets by £210,050 (2023 - £156,216). The Directors however believe that with the ongoing support of the company's shareholder, that it is appropriate to prepare the financial statements on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce balance sheet values of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Office equipment - 25% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


RUSSELLS PIES LIMITED (REGISTERED NUMBER: 07570457)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 17 ) .

RUSSELLS PIES LIMITED (REGISTERED NUMBER: 07570457)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 60,000
AMORTISATION
At 1 May 2023 36,000
Amortisation for year 3,000
At 30 April 2024 39,000
NET BOOK VALUE
At 30 April 2024 21,000
At 30 April 2023 24,000

5. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 May 2023 126,901 7,375 43,745 178,021
Additions 178 182 21,750 22,110
Disposals - - (20,245 ) (20,245 )
At 30 April 2024 127,079 7,557 45,250 179,886
DEPRECIATION
At 1 May 2023 93,584 6,542 29,126 129,252
Charge for year 5,024 253 7,285 12,562
Eliminated on disposal - - (16,641 ) (16,641 )
At 30 April 2024 98,608 6,795 19,770 125,173
NET BOOK VALUE
At 30 April 2024 28,471 762 25,480 54,713
At 30 April 2023 33,317 833 14,619 48,769

RUSSELLS PIES LIMITED (REGISTERED NUMBER: 07570457)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 23,500
Additions 21,750
At 30 April 2024 45,250
DEPRECIATION
At 1 May 2023 12,485
Charge for year 7,285
At 30 April 2024 19,770
NET BOOK VALUE
At 30 April 2024 25,480
At 30 April 2023 11,015

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 65,945 68,554
Other debtors 11,051 2,844
76,996 71,398

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,801 24,541
Hire purchase contracts 12,493 4,465
Trade creditors 62,217 58,431
Taxation and social security 12,874 19,155
Other creditors 44,120 28,849
153,505 135,441

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,983 18,412
Hire purchase contracts 12,861 5,953
Other creditors 206,085 160,885
229,929 185,250

RUSSELLS PIES LIMITED (REGISTERED NUMBER: 07570457)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 86,885 91,685

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary shares £1 2 2
20,000 Ordinary B Shares £1 20,000 20,000
20,002 20,002