Russell-Hutton Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05120999 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

Russell-Hutton Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Hutton

M Russell

SECRETARY:

M J Hutton

REGISTERED OFFICE:

23 Hillsborough Road

Sheffield

South Yorkshire

S6 4JL

REGISTERED NUMBER:

05120999 (England and Wales)

ACCOUNTANTS:

CFC Accountancy Services Limited

CFC House

Woodseats Close

Sheffield

S8 0TB

FIXED ASSETS

Tangible assets

4

20,713

25,165

CURRENT ASSETS

Stocks

1,250

1,250

Debtors

5

-

8,549

Cash at bank and in hand

129,136

166,736

130,386

176,535

CREDITORS

Amounts falling due within one year

6

(118,523

)

(126,257

)

NET CURRENT ASSETS

11,863

50,278

TOTAL ASSETS LESS CURRENT LIABILITIES

32,576

75,443

CREDITORS

Amounts falling due after more than one year

7

(3,380

)

(6,084

)

PROVISIONS FOR LIABILITIES

(3,935

)

(5,033

)

NET ASSETS

25,261

64,326

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

25,259

64,324

SHAREHOLDERS' FUNDS

25,261

64,326

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

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 5 February 2018 and were signed on its behalf by:

M J Hutton - Director

1.	STATUTORY INFORMATION

Russell-Hutton Ltd 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 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.

Turnover

Turnover is represented by the net sales of bespoke furniture, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of

the future payments is treated as a liability.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2016

22,614

10,097

18,720

9,578

61,009

Additions

1,147

626

-

679

2,452

At 30 June 2017

23,761

10,723

18,720

10,257

63,461

DEPRECIATION

At 1 July 2016

14,649

5,745

10,059

5,391

35,844

Charge for year

2,278

1,245

2,165

1,216

6,904

At 30 June 2017

16,927

6,990

12,224

6,607

42,748

NET BOOK VALUE

At 30 June 2017

6,834

3,733

6,496

3,650

20,713

At 30 June 2016

7,965

4,352

8,661

4,187

25,165

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 July 2016

and 30 June 2017

15,200

DEPRECIATION

At 1 July 2016

6,650

Charge for year

2,138

At 30 June 2017

8,788

NET BOOK VALUE

At 30 June 2017

6,412

At 30 June 2016

8,550

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Other debtors

-

1,001

Prepayments

-

7,548

-

8,549

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Hire purchase contracts

2,704

2,704

Trade creditors

32,743

30,180

Tax

23,300

27,180

Social security and other taxes

5,205

(2,821

)

VAT

22,692

12,617

Other creditors

349

129

Directors' current accounts

-

1

Accruals and deferred income

31,530

56,267

118,523

126,257

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Hire purchase contracts

3,380

6,084

8.	RELATED PARTY DISCLOSURES

The property from which the trade is conducted is owned by the two Directors and rent is payable accordingly and

amounted to £18,000 (2016:£18,000).

9.	ULTIMATE CONTROLLING PARTY

The two Directors are the ultimate controlling parties by virtue of their ownership of 100% of the voting share

capital.