Registered number
03892397
Russell Benussi Associates Limited
Report and Accounts
29 October 2024
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Russell Benussi Associates Limited
Registered number: 03892397
Balance Sheet
as at 29 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 298 373
Current assets
Debtors 5 124,650 240,708
Cash at bank and in hand 1,714 5,623
126,364 246,331
Creditors: amounts falling due within one year 6 (113,045) (221,839)
Net current assets 13,319 24,492
Total assets less current liabilities 13,617 24,865
Creditors: amounts falling due after more than one year 7 (9,167) (19,167)
Provisions for liabilities (93) (93)
Net assets 4,357 5,605
Capital and reserves
Called up share capital 2 2
Profit and loss account 4,355 5,603
Shareholders' funds 4,357 5,605
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.
John Benussi
Director
Approved by the board on 21 February 2025
Russell Benussi Associates Limited
Notes to the Accounts
for the year ended 29 October 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.
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:
Freehold buildings Nil
Plant and machinery 20% reducing balance
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 30 October 2023 128,000
At 29 October 2024 128,000
Amortisation
At 30 October 2023 128,000
At 29 October 2024 128,000
Net book value
At 29 October 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 October 2023 4,094
At 29 October 2024 4,094
Depreciation
At 30 October 2023 3,721
Charge for the year 75
At 29 October 2024 3,796
Net book value
At 29 October 2024 298
At 29 October 2023 373
5 Debtors 2024 2023
£ £
Trade debtors - 68,354
Amounts owed by group undertakings and undertakings in which the company has a participating interest 61,373 108,782
Other debtors 63,277 63,572
124,650 240,708
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 6,009 73,650
Amounts owed to group undertakings and undertakings in which the company has a participating interest 6,065 -
Corporation tax 2,086 19,153
Other taxes and social security costs 50,520 68,520
Other creditors 38,365 50,516
113,045 221,839
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,167 19,167
8 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.
At the year end the directors loan account for Mr & Mrs Benussi was jointly overdrawn by £47,491 (2023: £47,491)
9 Controlling party
The company is 100% owned by A.D.L.Z. (Benussi) Ltd, a company incorporated in the UK and under the control of Mr J Benussi.
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