Company registration number 07841098 (England and Wales)
RUSSO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
RUSSO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
The following pages do not form part of the statutory financial statements
Detailed trading and profit and loss account
-
RUSSO LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
105,166
118,165
Current assets
Stocks
65,500
61,500
Debtors
5
17,519
17,657
Cash at bank and in hand
108,361
91,275
191,380
170,432
Creditors: amounts falling due within one year
6
(612,874)
(664,950)
Net current liabilities
(421,494)
(494,518)
Total assets less current liabilities
(316,328)
(376,353)
Creditors: amounts falling due after more than one year
7
-
0
(5,000)
Net liabilities
(316,328)
(381,353)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(316,428)
(381,453)
Total equity
(316,328)
(381,353)

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 26 August 2026
Mr A Russo
Director
Company registration number 07841098 (England and Wales)
RUSSO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 2 -
1
Accounting policies
Company information

Russo Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 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.

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 financial statements have been prepared on a going concern basis even though at the balance sheet date the company had net liabilities of £316,328 (2024: £381,353). The director considers the going concern basis to be appropriate because, in his opinion, the company will continue to obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due, for at least the ensuing twelve months.

If the company was unable to continue obtaining sufficient funding to enable it to pay its debts as they fell due, it would be unable to continue trading and adjustments would have to be made to reduce the value of assets to their realisable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

1.3
Turnover

Turnover represents amounts receivable for hairdressing and beauty salon services provided net of VAT and trade discounts. Income is recognised in the period to which it relates.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.5
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings leasehold
20 years straight line
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

RUSSO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Stocks

Stocks are 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 stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.8
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.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

RUSSO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
47
46
3
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2024 and 30 November 2025
51,000
Amortisation and impairment
At 1 December 2024 and 30 November 2025
51,000
Carrying amount
At 30 November 2025
-
0
At 30 November 2024
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2024
195,829
105,795
301,624
Additions
-
0
1,219
1,219
At 30 November 2025
195,829
107,014
302,843
Depreciation and impairment
At 1 December 2024
106,583
76,876
183,459
Depreciation charged in the year
9,791
4,427
14,218
At 30 November 2025
116,374
81,303
197,677
Carrying amount
At 30 November 2025
79,455
25,711
105,166
At 30 November 2024
89,246
28,919
118,165
RUSSO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 5 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
17,519
17,657
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
5,000
10,000
Trade creditors
49,311
110,743
Taxation and social security
180,264
158,068
Other creditors
378,299
386,139
612,874
664,950
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
-
0
5,000

Included within creditors is £5,000 in respect of a bank loan which is guaranteed by the Government under the Bounce Back Loan Scheme.

8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Related party transactions

Included within other creditors is an amount of £188,078 (2024: £212,565) owed to the director by the company as at the balance sheet date.

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