Company registration number 00914567 (England and Wales)
WRIGHT RUFFELL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
WRIGHT RUFFELL LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr R P Wright
Mrs C M Wright
Mr C S Wright
Company number
00914567
Registered office
Plough Road Centre
Great Bentley
Colchester
Essex
CO7 8LG
Accountants
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
WRIGHT RUFFELL LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
WRIGHT RUFFELL LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,180,970
1,155,186
Current assets
Debtors
2,397,431
2,289,170
Cash at bank and in hand
36,292
205,858
2,433,723
2,495,028
Creditors: amounts falling due within one year
6
(118,209)
(2,063,794)
Net current assets
2,315,514
431,234
Total assets less current liabilities
3,496,484
1,586,420
Creditors: amounts falling due after more than one year
7
(1,906,536)
-
0
Provisions for liabilities
(7,834)
-
0
Net assets
1,582,114
1,586,420
Capital and reserves
Called up share capital
8
100
100
Other reserves
36,539
36,539
Profit and loss reserves
1,545,475
1,549,781
Total equity
1,582,114
1,586,420
WRIGHT RUFFELL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 April 2025 and are signed on its behalf by:
Mr R P Wright
Director
Company Registration No. 00914567
The notes on pages 4 to 7 form part of these financial statements
WRIGHT RUFFELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Wright Ruffell Limited is a private company limited by shares incorporated in England and Wales. The registered office is Plough Road Centre, Great Bentley, Colchester, Essex, CO7 8LG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the rental services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from rental services is recognised when the invoice is raised upon completion, costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Investment property
No charge
Fixtures and equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash at bank and in hand

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.

WRIGHT RUFFELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

WRIGHT RUFFELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
1
4
Tangible fixed assets
Investment property
Fixtures & fittings
Total
£
£
£
Cost
At 1 January 2024
1,129,375
33,850
1,163,225
Additions
-
0
33,823
33,823
At 31 December 2024
1,129,375
67,673
1,197,048
Depreciation and impairment
At 1 January 2024
-
0
8,039
8,039
Depreciation charged in the year
-
0
8,039
8,039
At 31 December 2024
-
0
16,078
16,078
Carrying amount
At 31 December 2024
1,129,375
51,595
1,180,970
At 31 December 2023
1,129,375
25,811
1,155,186
5
Investment property

In the opinion of the director the open value of the Investment Property is in excess of it's book value. The last professional valuation was carried out on 18 October 2023 by A McGill MRICS of Eightfold Property, Chartered Surveyors on the basis of an open market value of £4,200,000.

WRIGHT RUFFELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
72,071
1,943,924
Trade creditors
2,390
21,391
Taxation and social security
4,524
33,383
Other creditors
39,224
65,096
118,209
2,063,794

The bank loan of £72,071 (2023 £1,943,924) due within one year is secured against the Investment Property owned by the company.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,906,536
-
0

The bank loan of £1,906,536 (2023 £Nil) due after more than one year is secured against the Investment Property owned by the company.

8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
9
Related party transactions

The company is wholly owned by Wright Ruffell (Great Bentley) Limited who owe the company £2,214,634 (2023 £2,213,388). Currently this is an interest free loan, and repayments will be made as and when funds allow.

 

Included in other debtors is an amount of £145,500 (2023 £50,000) owed by Wright Ruffell (Sturricks) Limited, a company of which R P Wright and C S Wright are directors and shareholders. The loan is interest free, and will be repaid as and when funds allow.

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