REGISTERED NUMBER: 01098610 (England and Wales)

Audited Financial Statements

for the Year Ended 31 March 2025

for

Rushmon Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S M Ratcliffe

M A Ratcliffe

R A Fisher

Mrs J L Herbert

SECRETARY:

P A Robinson

REGISTERED OFFICE:

2 Esher Road

Hersham

Surrey

KT12 4JY

REGISTERED NUMBER:

01098610 (England and Wales)

AUDITORS:

Bullimores LLP

Chartered Accountants

& Registered Auditor

Old Printers Yard

156 South Street

Dorking

Surrey

RH4 2HF

FIXED ASSETS

Tangible assets

4

98,623

115,430

Investments

5

10,554

10,552

109,177

125,982

CURRENT ASSETS

Stocks

2,124,957

2,151,302

Debtors

6

5,862,248

4,392,747

Cash at bank

1,656,427

1,674,763

9,643,632

8,218,812

CREDITORS

Amounts falling due within one year

7

1,655,353

1,594,348

NET CURRENT ASSETS

7,988,279

6,624,464

TOTAL ASSETS LESS CURRENT LIABILITIES

8,097,456

6,750,446

CAPITAL AND RESERVES

Called up share capital

6,084

6,084

Capital redemption reserve

403,917

403,917

Retained earnings

7,687,455

6,340,445

SHAREHOLDERS' FUNDS

8,097,456

6,750,446

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 12 December 2025 and were signed on its behalf by:

S M Ratcliffe - Director

1.	STATUTORY INFORMATION

Rushmon 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.

Going Concern

The financial statements have been prepared on the going concern basis, in accordance with the Companies Act 2006 and applicable accounting standards in the United Kingdom. In considering the going concern assumption, the directors have considered the cash flow requirements of the company and its subsidiaries. The group has significant borrowing facilities available to it, which the directors have a reasonable expectation will continue to be available on a similar basis. The directors are confident that the group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Rushmon Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is stated net of value added tax. Revenue relating to contract sales is recognised by reference to the stage of completion of the contract.

Sales of residential property are recognised when a sale is completed and, the risks and rewards of ownership have transferred to the buyer. Where the company develops residential property and the development is held in a subsidiary entity, a project management fee is recognised and charged to the subsidiary entity when the subsidiary entity completes a sale and, the risks and rewards of ownership have transferred to the buyer.

Tangible fixed assets

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

Short leasehold

-

Over the term of the lease

Plant and machinery

-

50% on cost, 33% on cost and 25% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks and work in progress

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bring stocks to their present location and condition. Labour and other costs associated with the construction of properties are included in the calculation of the value.

Taxation

Taxation for the year 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 year 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 given the fluctuating nature of the housing market.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments

Financial assets and financial liabilities are recognised on the company balance sheet when it becomes an obligated party to the contractual provisions of the instrument.

The company's principal financial instruments comprise bank balances, trade and other creditors, trade and other debtors, and intercompany loans. The purpose of these instruments is to finance the company's operations.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2024 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Computer

leasehold

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

252,098

12,010

36,407

300,515

DEPRECIATION

At 1 April 2024

136,668

12,010

36,407

185,085

Charge for year

16,807

-

-

16,807

At 31 March 2025

153,475

12,010

36,407

201,892

NET BOOK VALUE

At 31 March 2025

98,623

-

-

98,623

At 31 March 2024

115,430

-

-

115,430

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

10,552

Additions

2

At 31 March 2025

10,554

NET BOOK VALUE

At 31 March 2025

10,554

At 31 March 2024

10,552

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

554

236,412

Amounts owed by group undertakings

5,669,542

4,009,997

Other debtors

76,482

41,673

VAT

50,789

41,950

Prepayments

64,881

62,715

5,862,248

4,392,747

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

1,163,667

1,244,077

Social security and other taxes

47,132

49,592

Other creditors

61,593

32,727

Accruals and deferred income

382,961

267,952

1,655,353

1,594,348

8.	LEASING AGREEMENTS

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

31.3.25

31.3.24

£

£

Within one year

185,000

185,000

Between one and five years

894,167

925,000

In more than five years

-

154,167

1,079,167

1,264,167

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Patrick Casey (Senior Statutory Auditor)

for and on behalf of Bullimores LLP

10.	CONTINGENT LIABILITIES

The company has given guarantees to various banks in respect of loans taken out by its subsidiaries for the following totals (plus interest, costs and guarantees):

£

Rushmon (Molesey) Limited

1,218,000

Rushmon (Ruxley Lane)

738,000

Rushmon (Brooklands Road) Limited

605,000

Rushmon (Urban Homes) limited

2,152,000

Total Guaranteed balance

£4,713,000

Since the year end, the company has given guarantees in respect of loans taken out for the following subsidiaries on similar terms:

£

Rushmon (Ashley Road) Limited

925,000

Rushmon (Prime Homes) Limited

350,000

Total Guaranteed balance

£1,275,000

11.	SECURITY GRANTED FOR THIRD PARTIES

Paragon Development Finance Limited has a charge over the shares owned by Rushmon Limited in Rushmon (Ashley Road) Limited and Rushmon (Brooklands Road) Limited, both of which are wholly owned subsidiaries, in respect of loans advanced to those two companies.

12.	RELATED PARTY DISCLOSURES

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.

13.	ULTIMATE CONTROLLING PARTY