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Company Registration Number : 13738661 (England and Wales)
13738661
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-11-30
false
RUSSETS INVESTMENT LTD
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2023-12-01
RUSSETS INVESTMENT LTD
Unaudited filleted financial statements
For the year ended 30 November 2024
RUSSETS INVESTMENT LTD
Contents
For the year ended 30 November 2024

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 6


RUSSETS INVESTMENT LTD
Company Information
For the year ended 30 November 2024

Company registration number 13738661 (England and Wales)
Directors Andrea Davies
Jacqueline Moffatt
Registered office address 15 Ferndale Road Ferndale Road
Hove
England
BN3 6EU
Accountant Barnett and Co Accountants Limited
Chartered Management Accountants
24A High Street, Melksham
Wiltshire
SN12 6LA
RUSSETS INVESTMENT LTD
Statement of Financial Position
For the year ended 30 November 2024

2024 2023
Notes £ £
Fixed assets
Property, plant and equipment 2,465 2,900
Investment Property 1,107,000 1,107,000
5 1,109,465 1,109,900
Current assets
Debtors 233 1,401
Debtors: Amounts falling due after more than one year 9,189 9,189
Cash and cash equivalents 17,250 9,540
26,673 20,129
Current liabilities
Creditors: Amounts falling due within one year (664) (1,782)
Corporation tax payable (636) -
(1,300) (1,782)
Net current assets/(liabilities) 25,373 18,348
Total assets less current liabilities 1,134,837 1,128,247
Non-current liabilities
Creditors: Amounts falling due after more than one year (1,168,980) (1,182,695)
Net (liabilities)/assets (34,142) (54,447)
Capital and reserves
Called up share capital 4 4
Retained earnings (34,146) (54,451)
Shareholder's funds (34,142) (54,447)
For the year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 21 February 2025
.............................
Andrea Davies (Director)
Company registration number: 13738661
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2024-11-30 30 November 2024
2024 2023
£ £
Fixed Assets 1,109,465 1,109,900
Current Assets 17,250 9,540
Prepayments and accrued income 233 1,401
Creditors: amounts falling due within one year (1,300) (1,782)
Net current assets (liabilities) 16,184 9,159
Total assets less current liabilities 1,125,648 1,119,058
CREDITORS: Amounts falling due more than one year (1,168,980) (1,182,695)
Net Assets (liabilities) (34,142) (54,447)
Capital and Reserves (34,142) (54,447)
For the year ending 30/11/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 30-11-2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 21 February 2025 2025-02-21 and signed on behalf of the board,
.............................
Andrea Davies
Director
Company registration number: 13738661
RUSSETS INVESTMENT LTD
Notes to the Financial Statements
For the year ended 30 November 2024

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 15 Ferndale Road Ferndale Road, Hove, England, BN3 6EU.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Rental income
Rental income from operating leases are recognised on a straight-line basis over the term of the relevant lease. Rental Income is included within other income from fixed assets.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings15% reducing balance
Equipment
Motor Cars
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, cash and cash equivalents, trade and other payables, and loans and borrowings.

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value.
Loans and borrowings
These are initially recognised at fair value, based upon the nominal amount outstanding. Subsequent to initial recognition, they are recorded at amortised cost. Borrowing costs arising on bank borrowings are expensed as incurred within financial expense using the effective interest method.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred Tax
A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised 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 liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Investments
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.

(4) Employees
During the year, the average number of employees including director was 0 (2023 : 0).

(5) Fixed assets
Tangible

£
Investments
Property
£
Totals

£
Cost
As at 01 December 20233,7201,107,0001,110,720
As at 30 November 20243,7201,107,0001,110,720
Depreciation/Amortisation
As at 01 December 2023820-820
For the year435-435
As at 30 November 20241,255-1,255
Net book value
As at 30 November 20242,4651,107,0001,109,465
As at 30 November 20232,9001,107,0001,109,900

(6) Mortgage (Creditors > 1 Year)
The mortgage loans are secured on the properties.

(7) Investment Properties
These financial statements for the year ended 30 November 2024 are the financial statements of the company prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The property is being measured at a fair value under FRS 102. This year there are no changes in the fair value from last year.