REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 May 2024 |
for |
RUSSELL TREW LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 May 2024 |
for |
RUSSELL TREW LIMITED |
RUSSELL TREW LIMITED (REGISTERED NUMBER: 03560884) |
Contents of the Financial Statements |
for the year ended 31 May 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
RUSSELL TREW LIMITED |
Company Information |
for the year ended 31 May 2024 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
RUSSELL TREW LIMITED (REGISTERED NUMBER: 03560884) |
Statement of Financial Position |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 8 |
Retained earnings |
Shareholders' funds |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RUSSELL TREW LIMITED (REGISTERED NUMBER: 03560884) |
Notes to the Financial Statements |
for the year ended 31 May 2024 |
1. | Statutory information |
Russell Trew Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis. The directors have reviewed the company's cashflows over the next twelve months from the date of signing the financial statements and |
considers that, based on the support that is likely to be available, the company will be able to meet its debts as and when they fall due. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
Critical judgements |
The following judgements (apart from those involving estimates) have the most significant effect on amounts recognised in the financial statements. |
Work in progress |
The directors assess any contracts that are in progress at the year end, with due consideration to the accounting policy applied to turnover, as noted below. This assessment is made on a contract by contract basis to review the stage of completion between the last survey date and the year end. The directors apply their judgement, based on their knowledge of the business and industry to determine the stage of completion and the quantum of turnover and profit, or foreseeable losses that need to be adjusted for at the year end. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
When the outcome of a construction contract can be estimated reliably, contract costs and turnover are |
recognised by reference to the stage of completion at the balance sheet date. |
Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable. |
When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision. |
The percentage of completion method is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contracts costs incurred for the work performed to date compared to the estimated total contract costs, Costs incurred in the year in connection with future activity on a contract are excluded from contract costs is determining the stage of completion. These costs are presented as work in progress provided they are considered recoverable. |
Tangible fixed assets |
Office fixtures & equipment | - |
Motor vehicles | - |
RUSSELL TREW LIMITED (REGISTERED NUMBER: 03560884) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2024 |
2. | Accounting policies - continued |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a |
party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial |
recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the |
substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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 |
RUSSELL TREW LIMITED (REGISTERED NUMBER: 03560884) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2024 |
4. | Tangible fixed assets |
Office |
fixtures | Motor |
& equipment | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 June 2023 |
Additions |
At 31 May 2024 |
Depreciation |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Retentions receivable | 492,915 | 523,404 |
Amounts owed by group undertakings |
Other debtors |
Work in progress | 425,361 | 531,811 |
Tax |
Prepayments |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
RUSSELL TREW LIMITED (REGISTERED NUMBER: 03560884) |
Notes to the Financial Statements - continued |
for the year ended 31 May 2024 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1 | 2 | 2 |
9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | Related party transactions |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
11. | Ultimate controlling party |
The ultimate parent entity is Russell Trew Trustee Limited (Registration Number: 14586347 (England and Wales)). |