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REGISTERED NUMBER: 09123398 (England and Wales)














Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 May 2024

for

RUSSELL TREW HOLDINGS LIMITED

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Contents of the Consolidated Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Statement of Comprehensive Income 7

Consolidated Statement of Financial Position 8

Company Statement of Financial Position 9

Consolidated Statement of Changes in Equity 10

Company Statement of Changes in Equity 11

Consolidated Statement of Cash Flows 12

Notes to the Consolidated Statement of Cash Flows 13

Notes to the Consolidated Financial Statements 14


RUSSELL TREW HOLDINGS LIMITED

Company Information
for the year ended 31 May 2024







Directors: Mr R Trew
Mr M D Bradford
Mr M Jacobs
Miss K Trew





Registered office: Unit 4c Standard Industrial Estate
Henley Road
Newham
London
E16 2ES





Registered number: 09123398 (England and Wales)





Auditors: Cooper Parry Group Ltd
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Group Strategic Report
for the year ended 31 May 2024


The directors present their strategic report fo the year ended 31 May 2024.

Review of business
The Group continues to operate as a specialist roofing contractor primarily in the refurbishment sector within the construction industry and plans to expand to other selected area's in the UK through regional offices. The company's strategy is to provide excellent service to it's customer base while being competitively priced and completing on time.

The directors consider the results of the main trading company, Russell Trew Limited, to be satisfactory.

The trading company has improved its margins and operated a satisfactory debtors cycle throughout the year. The directors monitor key performance and strategic indicators and agree actions to either mitigate against negative movements or exploit opportunities.

The Group's results results for the year ended 31 May 2024 was a net profit before tax of £3,088,252 (2023 - £2,986,691).

The Group has a strong Statement of Financial Position.

Principal risks and uncertainties
The main trading company does a larger percentage of work within the public sector. Therefore, any reduction in the public sector spending would effect the level of business available from that source. Should this occur, focus will be given to increasing business from the private sector. For this reason, the company will continue its policy of working for a diversity of clients within both the private and public sectors.

Risk and uncertainty are recognised as normal elements of doing business, the company manages its risk through the application of risk frame cycle involving:

- Identification
- Probability
- Impact
- Mitigation
- Contingency
- Review

On behalf of the board:





Mr R Trew - Director


22 February 2025

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Report of the Directors
for the year ended 31 May 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 May 2024.

Principal activity
The principal activity of the group in the year under review was that of specialist roofing contractors.

Dividends
No dividends will be distributed for the year ended 31 May 2024.

Directors
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report.

Mr R Trew
Mr M D Bradford
Mr M Jacobs
Miss K Trew

Statement of directors' responsibilities
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Auditors
The auditors, Cooper Parry Group Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





Mr R Trew - Director


22 February 2025

Report of the Independent Auditors to the Members of
Russell Trew Holdings Limited


Opinion
We have audited the financial statements of Russell Trew Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 May 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 May 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Russell Trew Holdings Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Russell Trew Holdings Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in
which it operates, and considered the risk of acts by the company that were contrary to applicable laws and
regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding
compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material
misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any
knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud
such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those
leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases
the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Roz McFarlane (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Ltd
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

24 February 2025

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Consolidated
Statement of Comprehensive
Income
for the year ended 31 May 2024

2024 2023
Notes £    £   

Turnover 18,231,446 19,537,398

Cost of sales (11,897,191 ) (12,726,731 )
Gross profit 6,334,255 6,810,667

Administrative expenses (3,307,283 ) (3,849,381 )
3,026,972 2,961,286

Other operating income 45,422 158,372
Operating profit 5 3,072,394 3,119,658

Change in ownership costs 6 - (147,485 )
3,072,394 2,972,173

Interest receivable and similar income 15,858 14,518
Profit before taxation 3,088,252 2,986,691

Tax on profit 7 (1,260,037 ) (495,584 )
Profit for the financial year 1,828,215 2,491,107

Other comprehensive income - -
Total comprehensive income for the year 1,828,215 2,491,107

Profit attributable to:
Owners of the parent 1,828,215 2,491,107

Total comprehensive income attributable to:
Owners of the parent 1,828,215 2,491,107

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Consolidated Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 9 484,919 590,635
Investments 10 - -
484,919 590,635

Current assets
Debtors 11 3,460,624 3,640,694
Cash at bank 1,156,979 1,889,810
4,617,603 5,530,504
Creditors
Amounts falling due within one year 12 1,433,382 2,255,214
Net current assets 3,184,221 3,275,290
Total assets less current liabilities 3,669,140 3,865,925

Creditors
Amounts falling due after more than one
year

13

1

1
Net assets 3,669,139 3,865,924

Capital and reserves
Called up share capital 15 3 3
Retained earnings 3,669,136 3,865,921
Shareholders' funds 3,669,139 3,865,924

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2025 and were signed on its behalf by:





Mr R Trew - Director


RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Company Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 9 448,992 557,814
Investments 10 202 202
449,194 558,016

Current assets
Debtors 11 312,072 574,603
Cash at bank 1,083,899 1,759,931
1,395,971 2,334,534
Creditors
Amounts falling due within one year 12 63,386 49,149
Net current assets 1,332,585 2,285,385
Total assets less current liabilities 1,781,779 2,843,401

Creditors
Amounts falling due after more than one
year

13

1

1
Net assets 1,781,778 2,843,400

Capital and reserves
Called up share capital 15 3 3
Retained earnings 1,781,775 2,843,397
Shareholders' funds 1,781,778 2,843,400

Company's profit for the financial year 963,378 3,356,272

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2025 and were signed on its behalf by:





Mr R Trew - Director


RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Consolidated Statement of Changes in Equity
for the year ended 31 May 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 June 2022 3 10,219,672 477,352 10,697,027

Changes in equity
Total comprehensive income - 2,406,249 (477,352 ) 1,928,897
Contributions to EOT - (8,760,000 ) - (8,760,000 )
Balance at 31 May 2023 3 3,865,921 - 3,865,924

Changes in equity
Total comprehensive income - 1,828,215 - 1,828,215
Contributions to EOT - (2,025,000 ) - (2,025,000 )
Balance at 31 May 2024 3 3,669,136 - 3,669,139

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Company Statement of Changes in Equity
for the year ended 31 May 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 June 2022 3 8,331,983 477,352 8,809,338

Changes in equity
Total comprehensive income - 3,271,414 (477,352 ) 2,794,062
Contributions to EOT - (8,760,000 ) - (8,760,000 )
Balance at 31 May 2023 3 2,843,397 - 2,843,400

Changes in equity
Total comprehensive income - 963,378 - 963,378
Contributions to EOT - (2,025,000 ) - (2,025,000 )
Balance at 31 May 2024 3 1,781,775 - 1,781,778

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Consolidated Statement of Cash Flows
for the year ended 31 May 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,762,674 3,766,564
Tax paid (1,451,464 ) (282,830 )
Net cash from operating activities 1,311,210 3,483,734

Cash flows from investing activities
Purchase of tangible fixed assets (51,899 ) (177,068 )
Sale of tangible fixed assets 17,000 27,458
Sale of fixed asset investments - 4,019,612
Sale of investment property - 359,100
Interest received 15,858 14,518
Net cash from investing activities (19,041 ) 4,243,620

Cash flows from financing activities
Amount introduced by directors - 100,000
EOT distributions (2,025,000 ) (8,760,000 )
Net cash from financing activities (2,025,000 ) (8,660,000 )

Decrease in cash and cash equivalents (732,831 ) (932,646 )
Cash and cash equivalents at beginning
of year

2

1,889,810

2,822,456

Cash and cash equivalents at end of year 2 1,156,979 1,889,810

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Notes to the Consolidated Statement of Cash Flows
for the year ended 31 May 2024


1. Reconciliation of profit before taxation to cash generated from operations

2024 2023
£    £   
Profit before taxation 3,088,252 2,986,691
Depreciation charges 151,738 183,918
Profit on disposal of fixed assets (11,123 ) (157,177 )
Finance income (15,858 ) (14,518 )
3,213,009 2,998,914
Decrease in stocks - 151,528
Decrease in trade and other debtors 125,280 384,553
(Decrease)/increase in trade and other creditors (575,615 ) 231,569
Cash generated from operations 2,762,674 3,766,564

2. Cash and cash equivalents

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 May 2024
31.5.24 1.6.23
£    £   
Cash and cash equivalents 1,156,979 1,889,810
Year ended 31 May 2023
31.5.23 1.6.22
£    £   
Cash and cash equivalents 1,889,810 2,822,456


3. Analysis of changes in net funds

At 1.6.23 Cash flow At 31.5.24
£    £    £   
Net cash
Cash at bank 1,889,810 (732,831 ) 1,156,979
1,889,810 (732,831 ) 1,156,979
Debt
Debts falling due after 1 year (1 ) - (1 )
(1 ) - (1 )
Total 1,889,809 (732,831 ) 1,156,978

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Notes to the Consolidated Financial Statements
for the year ended 31 May 2024


1. Statutory information

Russell Trew Holdings 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Basis of consolidation
All financial statements are made up to 31 May 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group. All intra group transactions, balances and unrealised gains are eliminated on consolidation. Inrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Subsidiaries are consolidated in the groups financial statements from the date that control commences until the date that control ceases.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

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.

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 May 2024


2. Accounting policies - continued

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

Where the outcome of long term contract can established reliably, revenue and costs are recognised by
reference to the stage of completion of the contract activity at the balance sheet date. The extent to which the contract is complete is determined by the total costs incurred to date as a percentage of the total anticipated costs of the entire contract. Variations in contract work, claims and incentive payments are included only to the extent they have been agreed with the purchaser.

Where the outcome of a long term contract cannot be estimated reliably, contract revenue is recognised only to the extent of contract costs incurred where is is probable they will be recoverable. Contract costs are
recognised in the period in which they are incurred. When it is probable that total contract costs will exceed
total contract revenue, the expected loss is recognised as an expense immediately.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 May 2024


3. Employees and directors
2024 2023
£    £   
Wages and salaries 1,902,857 2,196,425
Social security costs 246,370 300,653
Other pension costs 31,019 41,945
2,180,246 2,539,023

The average number of employees during the year was as follows:
2024 2023

Employees 25 28

The average number of employees by undertakings that were proportionately consolidated during the year was 25 (2023 - 28 ) .

4. Directors' emoluments
2024 2023
£    £   
Directors' remuneration 625,300 575,200

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 200,100 245,100

5. Operating profit

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 164,565 230,733
Other operating leases 60,027 58,785
Depreciation - owned assets 151,738 183,918
Profit on disposal of fixed assets (11,123 ) (157,177 )
Auditors' remuneration 12,500 8,000
Gifts & donations 48,627 68,876

6. Exceptional items
2024 2023
£    £   
Change in ownership costs - (147,485 )

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 May 2024


7. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 818,843 609,038
Tax - prior year adjustment 441,194 (28,596 )
Total current tax 1,260,037 580,442

Deferred tax - (84,858 )
Tax on profit 1,260,037 495,584

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 3,088,252 2,986,691
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 19 %)

772,063

567,471

Effects of:
Expenses not deductible for tax purposes 38,991 54,663
Capital allowances in excess of depreciation - (17,490 )
Depreciation in excess of capital allowances 10,570 -
Adjustments to tax charge in respect of previous periods 441,194 (28,596 )
Deferred tax - (84,858 )

Profit/loss on disposal of assets (2,781 ) (29,864 )
Adjustment for apportioned days at 25% - 34,258
Total tax charge 1,260,037 495,584

8. Individual statement of comprehensive income

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 May 2024


9. Tangible fixed assets

Group
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 June 2023 117,933 1,043,185 1,161,118
Additions 8,773 43,126 51,899
Disposals - (33,021 ) (33,021 )
At 31 May 2024 126,706 1,053,290 1,179,996
Depreciation
At 1 June 2023 87,746 482,737 570,483
Charge for year 5,009 146,729 151,738
Eliminated on disposal - (27,144 ) (27,144 )
At 31 May 2024 92,755 602,322 695,077
Net book value
At 31 May 2024 33,951 450,968 484,919
At 31 May 2023 30,187 560,448 590,635

Company
Motor
vehicles
£   
Cost
At 1 June 2023 1,016,873
Additions 43,126
Disposals (33,021 )
At 31 May 2024 1,026,978
Depreciation
At 1 June 2023 459,059
Charge for year 146,071
Eliminated on disposal (27,144 )
At 31 May 2024 577,986
Net book value
At 31 May 2024 448,992
At 31 May 2023 557,814

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 May 2024


10. Fixed asset investments

Company
Shares in
group
undertakings
£   
Cost
At 1 June 2023
and 31 May 2024 202
Net book value
At 31 May 2024 202
At 31 May 2023 202

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Russell Trew Limited (Registration Number: 03560884)
Registered office: Unit 4c Standard Industrial Estate, Henley Road, London, E16 2ES
Nature of business: Specialist contractors
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,887,976 1,023,140
Profit for the year 1,740,329 2,308,990

Russell Trew (London) Limited (Registration Number: 09470355)
Registered office: Unit 4c Standard Industrial Estate, Henley Road, London, United Kingdom, E16 2ES
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (207 ) (207 )

Russell Trew (Midlands) Limited (Registration Number: 0947058)
Registered office: Unit 4c Standard Industrial Estate, Henley Road, London, United Kingdom, E16 2ES
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (207 ) (207 )


RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 May 2024


11. Debtors: amounts falling due within one year

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 2,502,467 2,503,108 - 286,904
Retentions receivable 492,915 523,404 - -
Amounts owed by group undertakings - - 400 400
Other debtors 484 960 1 1
Work in progress 425,361 531,811 - -
Tax - 54,790 - -
Prepayments 39,397 26,621 311,671 287,298
3,460,624 3,640,694 312,072 574,603

12. Creditors: amounts falling due within one year

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 683,961 865,453 - -
Tax 320,675 566,892 46,750 3,859
Social security and other taxes 122,391 212,739 - -
VAT 223,965 555,769 12,636 41,290
Other creditors 66,890 39,311 - -
Accruals and deferred income 15,500 15,050 4,000 4,000
1,433,382 2,255,214 63,386 49,149

13. Creditors: amounts falling due after more than one year

Group Company
2024 2023 2024 2023
£    £    £    £   
Preference shares (see note 14) 1 1 1 1

14. Loans

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due between two and five years:
Preference shares 1 1 1 1

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Preference shares 1 1 1

RUSSELL TREW HOLDINGS LIMITED (REGISTERED NUMBER: 09123398)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 May 2024


15. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,000 Ordinary 0.000 1 3 3

During the year the 3 Ordinary Shares at £1 were sub divided to 30,000 Ordinary Shares at £0.0001.

16. Related party disclosures

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.