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REGISTERED NUMBER: 10028997 (England and Wales)






RUTLAND SHEDS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025






RUTLAND SHEDS LIMITED (REGISTERED NUMBER: 10028997)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 February 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RUTLAND SHEDS LIMITED

COMPANY INFORMATION
for the year ended 28 February 2025







DIRECTORS: N H Price
E G Grant





REGISTERED OFFICE: 124-126 Sandon Road
Smethwick
Warley
West Midlands
B66 4AB





REGISTERED NUMBER: 10028997 (England and Wales)





ACCOUNTANTS: Weatherer Bailey Bragg
Chartered Accountants
100 Boldmere Road
Sutton Coldfield
West Midlands
B73 5UB

RUTLAND SHEDS LIMITED (REGISTERED NUMBER: 10028997)

BALANCE SHEET
28 February 2025

28/2/25 29/2/24
Notes £    £   
FIXED ASSETS
Intangible assets 4 4,173 8,347
Tangible assets 5 11,539 9,843
15,712 18,190

CURRENT ASSETS
Stocks 6 24,975 23,950
Debtors 7 50,314 23,322
Cash at bank 255,098 177,057
330,387 224,329
CREDITORS
Amounts falling due within one year 8 (105,388 ) (84,533 )
NET CURRENT ASSETS 224,999 139,796
TOTAL ASSETS LESS CURRENT
LIABILITIES

240,711

157,986

PROVISIONS FOR LIABILITIES (2,769 ) (2,362 )
NET ASSETS 237,942 155,624

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 237,842 155,524
SHAREHOLDERS' FUNDS 237,942 155,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RUTLAND SHEDS LIMITED (REGISTERED NUMBER: 10028997)

BALANCE SHEET - continued
28 February 2025


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 April 2025 and were signed on its behalf by:





N H Price - Director


RUTLAND SHEDS LIMITED (REGISTERED NUMBER: 10028997)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 February 2025

1. STATUTORY INFORMATION

Rutland Sheds 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover 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 transaction can be measured reliably. This is usually on installation.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year 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 balance sheet date.


RUTLAND SHEDS LIMITED (REGISTERED NUMBER: 10028997)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2025

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 13 (2024 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2024
and 28 February 2025 41,735
AMORTISATION
At 1 March 2024 33,388
Amortisation for year 4,174
At 28 February 2025 37,562
NET BOOK VALUE
At 28 February 2025 4,173
At 29 February 2024 8,347

RUTLAND SHEDS LIMITED (REGISTERED NUMBER: 10028997)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2025

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2024 6,986 40,578 664 48,228
Additions 4,100 - - 4,100
At 28 February 2025 11,086 40,578 664 52,328
DEPRECIATION
At 1 March 2024 4,860 32,861 664 38,385
Charge for year 473 1,931 - 2,404
At 28 February 2025 5,333 34,792 664 40,789
NET BOOK VALUE
At 28 February 2025 5,753 5,786 - 11,539
At 29 February 2024 2,126 7,717 - 9,843

6. STOCKS
28/2/25 29/2/24
£    £   
Stocks 24,975 23,950

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/25 29/2/24
£    £   
Trade debtors 34,925 11,750
Directors' loan accounts 12,061 8,798
Prepayments 3,328 2,774
50,314 23,322

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/25 29/2/24
£    £   
Trade creditors 25,174 28,159
Corporation tax payable 56,009 37,497
Social security & other taxes 2,681 2,136
VAT 18,426 13,486
Other creditors (901 ) (307 )
Accrued expenses 3,999 3,562
105,388 84,533

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28/2/25 29/2/24
value: £    £   
100 Ordinary £1 100 100

RUTLAND SHEDS LIMITED (REGISTERED NUMBER: 10028997)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2025

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2025 and 29 February 2024:

28/2/25 29/2/24
£    £   
E G Grant
Balance outstanding at start of year 1,102 3,238
Amounts advanced 39,505 37,364
Amounts repaid (40,000 ) (39,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 607 1,102

N H Price
Balance outstanding at start of year 7,696 7,676
Amounts advanced 43,758 39,520
Amounts repaid (40,000 ) (39,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,454 7,696

No interest is charged on loans to directors and there are no fixed repayment terms.