Rushden Subway Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Rushden Subway Limited is a private company, limited by shares, incorporated in England & Wales, registered number 8404609 . The registered office is 172 Washbrook Road, Rushden, Northants, NN10 6AA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	No depreciation
Plant & Machinery	20% RB
Motor Vehicles	25% RB
Fixtures & Fittings	15% RB
Computer Equipment	25% RB

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Rushden Subway Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

2.7. Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and do not carry interest and as such are stated at their nominal value, less any impairment on debtors.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2026	2025
Office and administration	2	2
Sales, marketing and distribution	8	8

	10	10

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 March 2025	15,000

As at 28 February 2026	15,000

Amortisation
As at 1 March 2025	15,000

As at 28 February 2026	15,000

...CONTINUED

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Rushden Subway Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

Net Book Value
As at 28 February 2026	-

As at 1 March 2025	-

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 March 2025	305,266	11,096	54,990	162,379
Additions	-	-	-	3,000

As at 28 February 2026	305,266	11,096	54,990	165,379

Depreciation
As at 1 March 2025	-	5,870	27,925	100,605
Provided during the period	-	1,045	6,766	9,907

As at 28 February 2026	-	6,915	34,691	110,512

Net Book Value
As at 28 February 2026	305,266	4,181	20,299	54,867

As at 1 March 2025	305,266	5,226	27,065	61,774


	Computer Equipment	Total
	£	£
Cost
As at 1 March 2025	4,805	538,536
Additions	1,739	4,739

As at 28 February 2026	6,544	543,275

Depreciation
As at 1 March 2025	3,314	137,714
Provided during the period	471	18,189

As at 28 February 2026	3,785	155,903

Net Book Value
As at 28 February 2026	2,759	387,372

As at 1 March 2025	1,491	400,822

6. Stocks

	2026	2025
	£	£
Finished goods	4,700	5,000

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Rushden Subway Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

7. Debtors

	2026	2025
	£	£
Due within one year
Prepayments and accrued income	936	1,167

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	6,403	6,668
Trade creditors	8,014	7,914
Bank loans and overdrafts	22,195	29,772
Other taxes and social security	6,335	5,222
VAT	6,653	4,906
Net wages	9,913	9,752
Pensions Payable	173	170
Directors' loan accounts	87,103	123,693

	146,789	188,097

9. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	23,409	27,956
Bank loans	166,977	171,600

	190,386	199,556

10. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	6,403	6,668
Later than one year and not later than five years	23,409	27,956

	29,812	34,624

	29,812	34,624

11. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		387,372		400,822

			387,372		400,822
CURRENT ASSETS
Stocks	6	4,700		5,000
Debtors	7	936		1,167
Cash at bank and in hand		56,506		43,250

		62,142		49,417
Creditors: Amounts Falling Due Within One Year	8	(146,789 )		(188,097 )

NET CURRENT ASSETS (LIABILITIES)			(84,647 )		(138,680 )

TOTAL ASSETS LESS CURRENT LIABILITIES			302,725		262,142

Creditors: Amounts Falling Due After More Than One Year	9		(190,386 )		(199,556 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(20,527 )		(24,113 )

NET ASSETS			91,812		38,473

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			91,712		38,373

SHAREHOLDERS' FUNDS			91,812		38,473