Rushworth & Co (Sowerby Bridge) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 00500880 (England and Wales)

Unaudited Financial Statements for the Year Ended 30th June 2017

for

Rushworth & Co (Sowerby Bridge) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

A H Johnson

Mrs E Johnson

REGISTERED OFFICE:

Providence Street

Lye

Stourbridge

West Midlands

DY9 8HS

REGISTERED NUMBER:

00500880 (England and Wales)

ACCOUNTANTS:

dhjh llp

Chartered Accountants

Wyre Forest House

Finepoint Way

Kidderminster

Worcestershire

DY11 7WF

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

1,400,739

1,400,739

1,400,739

1,400,739

CURRENT ASSETS

Debtors

40,870

17,938

Investments

2,374,889

1,748,009

Cash at bank and in hand

513,683

1,073,963

2,929,442

2,839,910

CREDITORS

Amounts falling due within one year

126,339

136,557

NET CURRENT ASSETS

2,803,103

2,703,353

TOTAL ASSETS LESS CURRENT LIABILITIES

4,203,842

4,104,092

PROVISIONS FOR LIABILITIES

58,442

96,620

NET ASSETS

4,145,400

4,007,472

CAPITAL AND RESERVES

Called up share capital

72,000

72,000

Capital redemption reserve

25,877

25,877

Fair value reserve

6

650,998

385,940

Retained earnings

3,396,525

3,523,655

SHAREHOLDERS' FUNDS

4,145,400

4,007,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th June 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 23rd August 2017 and were signed on its behalf by:

A H Johnson - Director

1.	STATUTORY INFORMATION

Rushworth & Co (Sowerby Bridge) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

In accordance with Financial Reporting Standard for Smaller Entities, no depreciation is provided on the

investment properties.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Current asset investments

Current asset investments are valued at the lower of cost and current market value.

Warranties

Provision is made for the estimated liability on all products still under warranty, including claims already

received. The provision is based on past experience of claims arising in the warranty period.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st July 2016

and 30th June 2017

3,965

DEPRECIATION

At 1st July 2016

and 30th June 2017

3,965

NET BOOK VALUE

At 30th June 2017

-

At 30th June 2016

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st July 2016

and 30th June 2017

1,456,376

DEPRECIATION

At 1st July 2016

and 30th June 2017

55,637

NET BOOK VALUE

At 30th June 2017

1,400,739

At 30th June 2016

1,400,739

Cost or valuation at 30th June 2017 is represented by:

£

Valuation in 1998

200,000

Cost

1,256,376

1,456,376

If investment property had not been revalued it would have been included at the following historical cost:

2017

2016

as restated

£

£

Cost

790,366

790,366

Aggregate depreciation

116,196

116,196

Investment property was valued on an open market basis basis on 30th June 2017 by the directors .

6.

RESERVES

Fair

value

reserve

£

At 1st July 2016

385,940

Investment property

15,398

Investments

249,660

At 30th June 2017

650,998

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A H Johnson.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Rushworth & Co (Sowerby Bridge) Limited for the year ended 30th June 2017 which comprise

the Abridged Income Statement, Abridged Balance Sheet, and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rushworth & Co (Sowerby Bridge) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rushworth & Co (Sowerby Bridge) Limited and state those matters that we have agreed to state to the Board of Directors of Rushworth & Co (Sowerby Bridge) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rushworth & Co (Sowerby Bridge) Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rushworth & Co (Sowerby Bridge) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rushworth & Co (Sowerby Bridge) Limited. You consider that Rushworth & Co (Sowerby Bridge) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rushworth & Co (Sowerby Bridge) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

dhjh llp

Chartered Accountants

Wyre Forest House

Finepoint Way

Kidderminster

Worcestershire

DY11 7WF

Date: .............................................