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RUSSELL CHAMBERS LTD
REGISTERED NUMBER: 07647246
ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2015
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CREDITORS: amounts falling due within one year
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For the year ending 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 ("the Act") relating to small companies.
Director's responsibilities:
 
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·The 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 Act with respect to accounting records and the preparation of financial statements.
 
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The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 23 December 2015.
The notes on pages 2 to 3 form part of these financial statements.
Page 1
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RUSSELL CHAMBERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue for services is recognised on a work done basis.
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Investments held as fixed assets are shown at cost less provision for impairment.
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Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the profit and loss account.
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Page 2
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RUSSELL CHAMBERS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
2.FIXED ASSET INVESTMENTS
3.DEBTORS
Debtors include £90,021 (2014 - £NIL) falling due after more than one year.
4.SHARE CAPITAL
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Allotted, called up and fully paid
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2 A ordinary shares of £1 each
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The different classes of share rank pari passu save that a dividend may be declared by the director on one class and not the other.
5.DIRECTOR'S BENEFITS: ADVANCES, CREDIT AND GUARANTEES
As at the balance sheet date the director, Mr R Chambers owed the company £400,834 (2014 - £305,586). The director paid interest of £9,357 (2014 - £19,191) on his monthly overdrawn directors loan account at the HMRC official rate of 4%. The maximum outstanding during the year was £668,620 (2014 - £623,241).
During the year the director was paid dividends of £75,000 (2014 - £63,000).
Page 3
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