ACCOUNTS - Final Accounts

Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

Registered number: 02672506

RUGGLES & JEFFERY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026


RUGGLES & JEFFERY LIMITED REGISTERED NUMBER:02672506

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	4		245,913		224,859
			245,913		224,859
Current assets
Stocks	5	16,483		22,395
Debtors: amounts falling due within one year	6	728,342		1,508,741
Cash at bank and in hand	7	2,848		2,838
		747,673		1,533,974
Creditors: amounts falling due within one year	8	(676,560)		(1,014,543)
Net current assets			71,113		519,431
Total assets less current liabilities			317,026		744,290
Creditors: amounts falling due after more than one year	9		(56,312)		(42,951)
Provisions for liabilities
Deferred tax	11	(34,895)		(30,374)
			(34,895)		(30,374)
Net assets			225,819		670,965

Capital and reserves
Called up share capital	10,000	10,000
Profit and loss account	215,819	660,965
	225,819	670,965

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RUGGLES & JEFFERY LIMITED REGISTERED NUMBER:02672506

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2026

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 income and retained earnings 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 by:

I H Jeffery

Director

Date: 18 August 2026

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RUGGLES & JEFFERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Ruggles & Jeffery Limited is a private company limited by shares, incorporated in England and Wales.
Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.

The principal activity of the company continued to be that of shopfitters and office refurbishers.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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RUGGLES & JEFFERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

2.8

Current and deferred taxation

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.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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RUGGLES & JEFFERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.9

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

L/Term Leasehold Property	-	Over the term of the lease
Tools	-	20% reducing balance
Motor vehicles	-	25% reducing balance
Fixtures & fittings	-	25% straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.11

Long-term contracts

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses.

Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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RUGGLES & JEFFERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 43 (2025 - 43).

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RUGGLES & JEFFERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

4.	Tangible fixed assets

	Land and buildings	Other fixed assets	Total
	£	£	£
Cost or valuation
At 1 April 2025	110,561	451,814	562,375
Additions	-	73,978	73,978
Disposals	-	(51,002)	(51,002)
At 31 March 2026	110,561	474,790	585,351
Depreciation
At 1 April 2025	46,097	291,419	337,516
Charge for the year on owned assets	2,211	9,864	12,075
Charge for the year on financed assets	-	36,446	36,446
Disposals	-	(46,599)	(46,599)
At 31 March 2026	48,308	291,130	339,438
Net book value
At 31 March 2026	62,253	183,660	245,913
At 31 March 2025	64,464	160,395	224,859

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2026	2025
	£	£


Other fixed assets	154,130	123,390
	154,130	123,390

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RUGGLES & JEFFERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

5.	Stocks
		2026	2025
		£	£

Work in progress	16,483	22,395
	16,483	22,395

Debtors

					2026	2025
					£	£


Trade debtors	562,316	1,342,704
Amounts owed by group undertakings	-	25,904
Other debtors	61,429	220
Prepayments and accrued income	14,380	14,598
Amounts recoverable on long-term contracts	90,217	125,315
	728,342	1,508,741

7.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	2,848	2,838
Less: bank overdrafts	(115,568)	(371,601)
	(112,720)	(368,763)

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RUGGLES & JEFFERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

8.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Bank overdrafts	115,568	371,601
Trade creditors	217,368	243,510
Amounts owed to group undertakings	130,244	-
Other taxation and social security	125,504	242,354
Obligations under finance lease and hire purchase contracts	45,166	57,867
Other creditors	29,436	21,360
Accruals and deferred income	13,274	77,851
	676,560	1,014,543

The following liabilities were secured:
	2026	2025
	£	£


Bank overdrafts	115,568	371,601
Obligations under finance leases and hire purchase contracts	100,478	99,818
	216,046	471,419

Details of security provided:

The bank overdraft is secured by a deposit agreement dated 7 November 2003, a debenture dated 9 December 2005 and an unlimited guarantee from Ruggles & Jeffery Holdings Limited dated April 1999.

The amounts due in respect of finance leases and hire purchase contracts are secured on the underlying assets to which they relate.

9.	Creditors: Amounts falling due after more than one year
		2026	2025
		£	£

Net obligations under finance leases and hire purchase contracts	55,312	41,951
Share capital treated as debt	1,000	1,000
	56,312	42,951

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RUGGLES & JEFFERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Within one year	51,693	63,448
Between 1-5 years	58,715	43,456
	110,408	106,904

11.	Deferred taxation

	2026	2025
	£	£

At beginning of year	30,374	22,081
Charged to profit or loss	4,521	8,293
At end of year	34,895	30,374

The provision for deferred taxation is made up as follows:
	2026	2025
	£	£

	Accelerated capital allowances	34,895	30,374
		34,895	30,374

12.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £56,997 (2025: £48,369). Contributions totalling £10,058 (2025: £9,260) were payable to the fund at the balance sheet date.

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