Russell Court Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02287130 (England and Wales)

Financial Statements

for the Year Ended 30 April 2019

for

Russell Court Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A E West

Mrs A W West

SECRETARY:

Mrs A W West

REGISTERED OFFICE:

Russell Square

Longfield

Kent

DA3 7RY

REGISTERED NUMBER:

02287130 (England and Wales)

FIXED ASSETS

Tangible assets

4

3,882,504

3,879,164

CURRENT ASSETS

Stocks

3,701

3,701

Debtors

5

712,298

704,039

Cash at bank

332,100

235,414

1,048,099

943,154

CREDITORS

Amounts falling due within one year

6

392,971

359,288

NET CURRENT ASSETS

655,128

583,866

TOTAL ASSETS LESS CURRENT LIABILITIES

4,537,632

4,463,030

CREDITORS

Amounts falling due after more than one year

7

(1,462,280

)

(1,597,732

)

PROVISIONS FOR LIABILITIES

(116,586

)

(114,822

)

NET ASSETS

2,958,766

2,750,476

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

9

1,237,149

1,245,908

Retained earnings

1,711,617

1,494,568

SHAREHOLDERS' FUNDS

2,958,766

2,750,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 on 30 October 2019 and were signed on its behalf by:

A E West - Director

1.	STATUTORY INFORMATION

Russell Court 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Land and buildings

-

not provided

Plant and machinery etc

-

15% on reducing balance basis

Freehold land and buildings are revalued annually and are not depreciated. This represents a departure from

the provisions of the Companies Act 2006. The company has a policy and practice of regular maintenance and

repair, the charges for which are recognised in the profit and loss account as incurred. The company believes

that such a policy ensures that the estimated residual value of its property at the balance sheet date is

maintained at a level not materially different from the carrying amount of the asset. As such, no depreciation

charge is made on the grounds that any such charge would be immaterial.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2018 - 55 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 May 2018

3,732,864

481,830

4,214,694

Additions

18,705

36,018

54,723

Disposals

-

(106,637

)

(106,637

)

Revaluations

(12,077

)

-

(12,077

)

At 30 April 2019

3,739,492

411,211

4,150,703

DEPRECIATION

At 1 May 2018

-

335,530

335,530

Charge for year

-

25,776

25,776

Eliminated on disposal

-

(93,107

)

(93,107

)

At 30 April 2019

-

268,199

268,199

NET BOOK VALUE

At 30 April 2019

3,739,492

143,012

3,882,504

At 30 April 2018

3,732,864

146,300

3,879,164

Cost or valuation at 30 April 2019 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2018

1,334,085

-

1,334,085

Valuation in 2019

(12,077

)

-

(12,077

)

Cost

2,417,484

411,211

2,828,695

3,739,492

411,211

4,150,703

If Freehold land and buildings had not been revalued they would have been included at the following historical

cost:

2019

2018

£

£

Cost

2,417,484

2,398,779

Value of land in freehold land and buildings

2,417,484

2,398,779

Freehold land and buildings were valued on an open market basis on 31 January 2018 by Eddisons Taylors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

71,684

88,019

Other debtors

640,614

616,020

712,298

704,039

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

138,139

138,483

Trade creditors

37,556

44,510

Taxation and social security

180,635

163,715

Other creditors

36,641

12,580

392,971

359,288

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

1,462,280

1,597,732

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

639,994

740,905

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

1,600,419

1,736,215

The bank loans are secured by a fixed and floating charge over the assets of the company.

9.

RESERVES

Revaluation

reserve

£

At 1 May 2018

1,245,908

Revaluation surplus in year

(12,077

)

Deferred tax on trading

property in year

3,318

At 30 April 2019

1,237,149

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY