Company registration number 11072963 (England and Wales)
SOUTHALL AND RUSH LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
SOUTHALL AND RUSH LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
SOUTHALL AND RUSH LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTHALL AND RUSH LTD 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 Ltd 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 Ltd, 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 Ltd and state those matters that we have agreed to state to the board of directors of Southall And Rush Ltd, 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 Ltd 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 Ltd 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 Ltd. You consider that Southall And Rush Ltd 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 Ltd. 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 LTD
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
96,064
108,570
Investments
4
90,000
96,064
198,570
Current assets
Stocks
10,280
9,780
Debtors
5
464,361
345,536
Cash at bank and in hand
82,723
155,203
557,364
510,519
Creditors: amounts falling due within one year
6
(393,550)
(396,161)
Net current assets
163,814
114,358
Total assets less current liabilities
259,878
312,928
Creditors: amounts falling due after more than one year
7
(47,714)
(98,759)
Provisions for liabilities
9
(22,879)
(25,763)
Net assets
189,285
188,406
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
189,185
188,306
Total equity
189,285
188,406
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 LTD
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 M P Rush
Mr I M Southall
Director
Director
Company registration number 11072963 (England and Wales)
SOUTHALL AND RUSH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information
Southall And Rush Ltd 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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the 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:
Plant and machinery
20% on reducing balance
Fixtures and fittings
15% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
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.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
SOUTHALL AND RUSH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.6
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.
1.7
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
11
10
SOUTHALL AND RUSH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
69,431
15,179
3,778
115,079
203,467
Additions
14,948
14,948
At 31 March 2025
84,379
15,179
3,778
115,079
218,415
Depreciation and impairment
At 1 April 2024
22,470
4,609
2,531
65,287
94,897
Depreciation charged in the year
12,380
1,585
1,040
12,449
27,454
At 31 March 2025
34,850
6,194
3,571
77,736
122,351
Carrying amount
At 31 March 2025
49,529
8,985
207
37,343
96,064
At 31 March 2024
46,961
10,570
1,247
49,792
108,570
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
90,000
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2024
90,000
Disposals
(90,000)
At 31 March 2025
-
Carrying amount
At 31 March 2025
-
At 31 March 2024
90,000
SOUTHALL AND RUSH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
146,048
123,880
Amounts owed by group undertakings
307,764
209,084
Other debtors
10,549
12,572
464,361
345,536
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
81,108
64,824
Trade creditors
47,754
34,528
Amounts owed to group undertakings
99,864
101,856
Taxation and social security
161,397
191,735
Other creditors
3,427
3,218
393,550
396,161
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
47,714
98,759
8
Secured debts
The following secured debts are included within creditors:
2025
2024
£
£
Bank loans
128,822
163,583
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
9
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
22,879
25,763
SOUTHALL AND RUSH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
11
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
12
Control
Ultimate parent company
The ultimate parent company is Southall and Rush Holdings Limited, a company registered in England and Wales.
Ultimate controlling party
There is no ultimate controlling party, due to no controlling interest in the ultimate parent company.