Russell Hill Limited
Unaudited Financial Statements
For the year ended 31 December 2024
Pages for Filing with Registrar
Company Registration No. 12213528 (England and Wales)
Russell Hill Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Russell Hill Limited
Balance Sheet
As at 31 December 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Stock
2,577,236
1,473,948
Debtors
3
2,814
18,783
Cash at bank and in hand
7,036
679
2,587,086
1,493,410
Creditors: amounts falling due within one year
4
(914,249)
(1,196,016)
Net current assets
1,672,837
297,394
Creditors: amounts falling due after more than one year
5
(1,380,151)
-
0
Net assets
292,686
297,394
Capital and reserves
Called up share capital
6
800
800
Share premium account
319,200
319,200
Profit and loss reserves
(27,314)
(22,606)
Total equity
292,686
297,394

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 to 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.

T he members have not required the company to obtain an audit of its financial statements for the year to 31 December 2019 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.

Russell Hill Limited
Balance Sheet (Continued)
As at 31 December 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 2 September 2025 and are signed on its behalf by:
DK Van Zyl
Director
Company Registration No. 12213528
Russell Hill Limited
Notes to the Financial Statements
For the year to 31 December 2024
Page 3
1
Accounting policies
Company information

Russell Hill Limited is a private company limited by shares, domiciled and incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company made a true loss in the year of £4,708 (202 3: £5,489) and at the balance sheet date had net assets of £292,686 (202 3: £297,394)

The construction of the property is complete and at the time of preparing these accounts, four units are on the market and one unit exchanged for sale.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Work in progress (WIP)

WIP is 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 WIP to their present location and condition.

WIP held for distribution at no or nominal consideration is 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 WIP 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.

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.

1.5
Fair value measurement of financial instruments

Basic financial instruments are measured at cost. The company has no other financial instruments or basic financial instruments measured at fair value.

Russell Hill Limited
Notes to the Financial Statements (Continued)
For the year to 31 December 2024
1
Accounting policies
(Continued)
Page 4
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average number of employees (including directors) employed during the year was:

2024
2023
Number
Number
Total
2
2
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
2,814
9,563
Prepayments and accrued income
-
0
9,220
2,814
18,783
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,784
2,341
Other creditors
903,065
1,146,375
Accruals and deferred income
2,400
47,300
914,249
1,196,016
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,380,151
-
Russell Hill Limited
Notes to the Financial Statements (Continued)
For the year to 31 December 2024
Page 5
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
400 Ordinary A shares of £1 each
400
400
400 Ordinary B shares of £1 each
400
400
800
800

The Ordinary A shares of £1 each and the Ordinary B shares of £1 each rank pari passu in all respects except for varying rights to receive distributions and the right to vote.

Russell Hill Limited
Notes to the Financial Statements (Continued)
For the year to 31 December 2024
Page 6
7
Related party transactions

Included within other creditors is an amount of £189,676 (202 3: £19 0,000) due to Synovia Holdings Ltd, a company under the control of the directors.

Included within other creditors is an amount of £115,750 (202 3: £265,750) due to Bubbles Investment Ltd, a property investment company.

Included within other creditors is an amount of £35,328 (202 3: £36,625) due to New Life Investment Ltd, a property investment company

Included within other creditors is an amount of £35,000 (202 3: £35,000) due to TUW (MALBEC) Ltd, a n investment company.

Included within other creditors is an amount of £20,000 (202 3: £nil) due to MI Finance, a n investment company.

Included within other creditors is an amount of £505,000 (202 3: £620,000) owed to G J Hopkins, a d irector.

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