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Registered number: 02754702
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Rushbrocks Limited
Financial statements
Information for filing with the registrar
31 December 2024
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Balance sheet
At 31 December 2024
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Current asset investments
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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Investment property reserve
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Balance sheet (continued)
At 31 December 2024
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2025.
Company registered number: 02754702
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the financial statements
Year ended 31 December 2024
Rushbrocks Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is 8 Beechfield Road, Newcastle upon Tyne, England, NE3 4DR.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.
Turnover
Turnover comprises rental income receivable during the year. Rentals received under operating leasing are recognised on a straght line basis over the lease term. Incentives for lesseess to enter into lease agreements (such as rent-free periods or capital contributions) are spread evenly over the lease term, even if payments are not made on such a basis.
Interest income
Interest income is recognised on an accruals basis.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Notes to the financial statements
Year ended 31 December 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss
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The average monthly number of employees, including directors, during the year was 2 (2023 - 3).
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Notes to the financial statements
Year ended 31 December 2024
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Freehold investment property
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Long term leasehold investment property
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The 2024 valuations for the brought forward investment properties were made by the directors, on an open market value for existing use basis. The directors are satisfied that there has been no material change in the valuation of the properties over the year.
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Revaluation reserves (net of deferred tax)
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If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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Notes to the financial statements
Year ended 31 December 2024
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Prepayments and accrued income
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Current asset investments
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Creditors: amounts falling due within one year
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Amounts owed to related parties
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Other taxation and social security
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Accruals and deferred income
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The immediate parent undertaking is Rushbrocks Holdings Limited. The directors consider themselves to be the ultimate controlling party.
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