Company registration number 13308522 (England and Wales)
SOUTHALL AND RUSH HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SOUTHALL AND RUSH HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr I M Southall
Mr M P Rush
Company number
13308522
Registered office
Exhibit House
Worcester Road
Wychbold
Droitwich
WR9 0DF
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
25 Gresham Street
London
EC2V 7HN
SOUTHALL AND RUSH HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
SOUTHALL AND RUSH HOLDINGS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTHALL AND RUSH HOLDINGS LIMITED FOR THE YEAR ENDED 31 MARCH 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Southall and Rush Holdings Limited for the year ended 31 March 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Southall and Rush Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Southall and Rush Holdings Limited and state those matters that we have agreed to state to the board of directors of Southall and Rush Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southall and Rush Holdings Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Southall and Rush Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Southall and Rush Holdings Limited. You consider that Southall and Rush Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Southall and Rush Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
6 August 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SOUTHALL AND RUSH HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
775,000
775,000
Investments
4
100
100
775,100
775,100
Current assets
Debtors
5
118,789
41,275
Cash at bank and in hand
41,225
71,945
160,014
113,220
Creditors: amounts falling due within one year
6
(27,700)
(25,858)
Net current assets
132,314
87,362
Total assets less current liabilities
907,414
862,462
Creditors: amounts falling due after more than one year
7
(427,655)
(441,312)
Net assets
479,759
421,150
Capital and reserves
Called up share capital
9
200
200
Profit and loss reserves
479,559
420,950
Total equity
479,759
421,150
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 March 2025 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.
SOUTHALL AND RUSH HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 6 August 2025 and are signed on its behalf by:
Mr I M Southall
Mr M P Rush
Director
Director
Company registration number 13308522 (England and Wales)
SOUTHALL AND RUSH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information
Southall and Rush Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Exhibit House, Worcester Road, Wychbold, Droitwich, England, WR9 0DF.
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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business, and is shown net of VAT.
Turnover is recognised at the fair value of the consideration received or receivable for rents 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 any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.
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:
Freehold land and buildings
Not provided
No depreciation is provided on freehold property. This treatment may be a departure from the requirements of Companies Act 2006 concerning depreciation of fixed assets, however, the company follows a program of regular refurbishment and maintenance of its properties, which includes the reinstatement of the fabric of the buildings where necessary in order to maintain them to a high standard. Accordingly, in the opinion of the directors, any element of depreciation would be immaterial and no provision has been made, as the residual value would be in excess of cost.
1.4
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
SOUTHALL AND RUSH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
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
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2024 and 31 March 2025
775,000
Depreciation and impairment
At 1 April 2024 and 31 March 2025
Carrying amount
At 31 March 2025
775,000
At 31 March 2024
775,000
SOUTHALL AND RUSH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
100
100
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
99,864
11,856
Other debtors
18,925
29,419
118,789
41,275
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
14,726
11,956
Trade creditors
96
73
Taxation and social security
12,109
13,042
Other creditors
769
787
27,700
25,858
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
427,655
441,312
8
Secured debts
The following secured debts are included within creditors:
2025
2024
£
£
Bank loans
442,381
453,268
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
SOUTHALL AND RUSH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
0
200
200
Ordinary A of £1 each
100
0
100
Ordinary B of £1 each
100
0
100
200
200
200
200
During the year, the company underwent a share reorganisation.
The company passed a special resolution by reclassifying 200 Ordinary £1 shares into 100 Ordinary A £1 shares and 100 Ordinary B £1 shares. The rights and privileges attached to these shares remain unaltered.
10
Ultimate controlling party
There is no ultimate controlling party.