2023-02-272024-03-312024-03-31false14690248RUSH ESTATE 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RUSH ESTATE LIMITED

Registered Number
14690248
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2024

RUSH ESTATE LIMITED
Company Information
for the period from 27 February 2023 to 31 March 2024

Directors

ANDREW, Stelios
PHOULI, Andreas Panayiotis

Registered Address

25a George Street
Croydon
CR0 1LB

Registered Number

14690248 (England and Wales)
RUSH ESTATE LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

£

£

Fixed assets
Tangible assets356,407
56,407
Current assets
Stocks4210,000
Debtors5549,485
Cash at bank and on hand13,417
772,902
Creditors amounts falling due within one year6(877,558)
Net current assets (liabilities)(104,656)
Total assets less current liabilities(48,249)
Net assets(48,249)
Capital and reserves
Profit and loss account(48,249)
Shareholders' funds(48,249)
The financial statements were approved and authorised for issue by the Board of Directors on 21 February 2025, and are signed on its behalf by:
PHOULI, Andreas Panayiotis
Director
Registered Company No. 14690248
RUSH ESTATE LIMITED
Notes to the Financial Statements
for the period ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings10
Fixtures and fittings5
Office Equipment5
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

2024
Average number of employees during the year0
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
Additions42,80919,6862,66265,157
At 31 March 2442,80919,6862,66265,157
Depreciation and impairment
Charge for year4,2813,9375328,750
At 31 March 244,2813,9375328,750
Net book value
At 31 March 2438,52815,7492,13056,407
At 26 February 23----
4.Stocks

2024

£
Other stocks210,000
Total210,000
5.Debtors: amounts due within one year

2024

£
Trade debtors / trade receivables164,301
Other debtors321,663
Prepayments and accrued income63,521
Total549,485
6.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables702,398
Taxation and social security79,682
Other creditors95,194
Accrued liabilities and deferred income284
Total877,558