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REGISTERED NUMBER: 03560884 (England and Wales)














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





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





Registered number: 03560884 (England and Wales)





Auditors: Cooper Parry Group Ltd
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 35,927 32,821

Current assets
Debtors 5 3,460,825 3,640,894
Cash at bank 72,893 129,692
3,533,718 3,770,586
Creditors
Amounts falling due within one year 6 1,681,669 2,780,267
Net current assets 1,852,049 990,319
Total assets less current liabilities 1,887,976 1,023,140

Capital and reserves
Called up share capital 8 2 2
Retained earnings 1,887,974 1,023,138
Shareholders' funds 1,887,976 1,023,140

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 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 17 February 2025 and were signed on its behalf by:





Mr R Trew - Director


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 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.

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" including the provisions of Section 1A "Small Entities" 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.

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

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 25 (2023 - 28 ) .

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 117,933 26,313 144,246
Additions 8,773 - 8,773
At 31 May 2024 126,706 26,313 153,019
Depreciation
At 1 June 2023 87,746 23,679 111,425
Charge for year 5,009 658 5,667
At 31 May 2024 92,755 24,337 117,092
Net book value
At 31 May 2024 33,951 1,976 35,927
At 31 May 2023 30,187 2,634 32,821

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 2,502,467 2,503,108
Retentions receivable 492,915 523,404
Amounts owed by group undertakings 200 200
Other debtors 485 960
Work in progress 425,361 531,811
Tax - 54,790
Prepayments 39,397 26,621
3,460,825 3,640,894

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 683,963 1,152,357
Taxation and social security 607,645 1,290,251
Other creditors 390,061 337,659
1,681,669 2,780,267

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 58,677 58,677
Between one and five years 234,708 234,708
In more than five years 214,131 272,808
507,516 566,193

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: £    £   
2 Ordinary 1 2 2

9. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Roz McFarlane (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Ltd

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)).