REGISTERED NUMBER: 15677305 (England and Wales)

Unaudited Financial Statements

for the Period 24 April 2024 to 31 December 2024

for

Tim Russ & Co Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr V E B Courtney

Mr B A Steer

REGISTERED OFFICE:

22-24 Broad Street

Wokingham

Berkshire

RG40 1BA

REGISTERED NUMBER:

15677305 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

TOR

Saint-Cloud Way

Maidenhead

Berkshire

SL6 8BN

FIXED ASSETS

Intangible assets

4

1,115,725

Tangible assets

5

21,355

1,137,080

CURRENT ASSETS

Debtors

6

88,493

Cash at bank and in hand

315,725

404,218

CREDITORS

Amounts falling due within one year

7

(1,709,038

)

NET CURRENT LIABILITIES

(1,304,820

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(167,740

)

PROVISIONS FOR LIABILITIES

(5,339

)

NET LIABILITIES

(173,079

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(173,080

)

(173,079

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

Mr V E B Courtney - Director

Mr B A Steer - Director

1.	STATUTORY INFORMATION

Tim Russ & Co Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis as the directors believe that the company has sufficient financing available to it for the foreseeable future, that is at least 12 months from the date of approval of these accounts, to meet its obligations as they fall due.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax and trade discounts. Turnover is recognised when the company has the right to consideration which occurs on successful completion of the service.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Tangible assets are included at cost less depreciation and impairment.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 38 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

1,175,462

At 31 December 2024

1,175,462

AMORTISATION

Charge for period

59,737

At 31 December 2024

59,737

NET BOOK VALUE

At 31 December 2024

1,115,725

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

24,974

At 31 December 2024

24,974

DEPRECIATION

Charge for period

3,619

At 31 December 2024

3,619

NET BOOK VALUE

At 31 December 2024

21,355

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

73,689

Other debtors

14,804

88,493

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

61,984

Amounts owed to group undertakings

1,445,265

Taxation and social security

142,385

Other creditors

59,404

1,709,038

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

91,003

Between one and five years

278,298

In more than five years

35,579

404,880

9.	RELATED PARTY DISCLOSURES

As at 31 December 2024 the company owes £1,455,265 to Steer Property Group Limited. Tim Russ & Co Limited is a wholly owned subsidiary of Steer Property Group Limited.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Richard Steer by virtue of his majority shareholding in the parent company.