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Registered number: 12527701
15 Russell Gardens Mews Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Goldwyns London LLP
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 12527701
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 3 1,949,549 1,945,262
1,949,549 1,945,262
Creditors: Amounts Falling Due Within One Year 4 (1,860,075 ) (1,908,907 )
NET CURRENT ASSETS (LIABILITIES) 89,474 36,355
TOTAL ASSETS LESS CURRENT LIABILITIES 89,474 36,355
NET ASSETS 89,474 36,355
CAPITAL AND RESERVES
Called up share capital 5 1 1
Income Statement 89,473 36,354
SHAREHOLDERS' FUNDS 89,474 36,355
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr P Lachenal
Director
27/03/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - 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 are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
1.2. Going Concern Disclosure
The director has considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The director has also pledged their financial support to assist with this if required. On this basis, the director will continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5. Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.
1.6. Financial Instruments
The company only enters into basic financial transactions that result in the recoginition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other parties, loans to related parties and investments in non- puttable ordinary shares.
1.7. Cash And Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8. Critical Accounting Judgements And Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements 
are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2023: 1)
1 1
Page 2
Page 3
3. Stocks
2024 2023
£ £
Work in progress 1,949,549 1,945,262
4. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 17,707 8,621
Accruals and deferred income 2,940 3,000
Director's loan account 1,839,428 1,897,286
1,860,075 1,908,907
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
The nominal value per share is £1 and as at the year-end there are 1 Ordinary shares in issue.
6. Related Party Transactions
The Director's loan account balance of Mr P Lachenal is £1,839,428 as at the year end, is a current liability, interest free and repayable on demand.
7. General Information
15 Russell Gardens Mews Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12527701 . The registered office is C/O Goldwyns London Llp, No.1 Royal Exchange, London, EC3V 3DG.
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