Sandy Russell & Co Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04700945 (England and Wales)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

SANDY RUSSELL & CO LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

5

DIRECTOR:

A S Russell

SECRETARY:

Mrs R V Russell

REGISTERED OFFICE:

Hafod

Drayton Road

Hodnet

Market Drayton

Shropshire

TF9 3NH

REGISTERED NUMBER:

04700945 (England and Wales)

ACCOUNTANTS:

Grindrod & Company Limited

Salisbury House

11 Queen Street

Wellington

Telford

Shropshire

TF1 1EH

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to six)

have been prepared.

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

financial statements of Sandy Russell & Co Limited for the year ended 31 March 2014 which comprise the Profit and

Loss Account, the 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 at icaew.com/membershandbook.

This report is made solely to the director of Sandy Russell & Co Limited in accordance with our terms of engagement.

Our work has been undertaken solely to prepare for your approval the financial statements of Sandy Russell & Co

Limited and state those matters that we have agreed to state to the director of Sandy Russell & Co Limited in this report

in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Sandy Russell & Co 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 Sandy Russell

& Co Limited. You consider that Sandy Russell & Co 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 Sandy Russell & Co 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.

Grindrod & Company Limited

Salisbury House

11 Queen Street

Wellington

Telford

Shropshire

TF1 1EH

22 December 2014

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

22,200

5,796

22,200

5,796

CURRENT ASSETS

Debtors

9,411

2,630

Cash at bank

2,654

18,254

12,065

20,884

CREDITORS

Amounts falling due within one year

4

63,880

60,101

NET CURRENT LIABILITIES

(51,815

)

(39,217

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(29,615

)

(33,421

)

CREDITORS

Amounts falling due after more than one year

4

12,495

-

NET LIABILITIES

(42,110

)

(33,421

)

CAPITAL AND RESERVES

Called up share capital

5

1

1

Profit and loss account

(42,111

)

(33,422

)

SHAREHOLDERS' FUNDS

(42,110

)

(33,421

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 22 December 2014 and were signed by:

A S Russell - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

15,000

AMORTISATION

At 1 April 2013

and 31 March 2014

15,000

NET BOOK VALUE

At 31 March 2014

-

At 31 March 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

20,838

Additions

39,269

Disposals

(18,000

)

At 31 March 2014

42,107

DEPRECIATION

At 1 April 2013

15,042

Charge for year

7,490

Eliminated on disposal

(2,625

)

At 31 March 2014

19,907

NET BOOK VALUE

At 31 March 2014

22,200

At 31 March 2013

5,796

4.

CREDITORS

Creditors include an amount of £ 15,903 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

£1

1

1