| Michael Rutherford Limited |
| Registered number: |
01103432 |
| Balance Sheet |
| as at 31 December 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
368,364 |
|
|
251,658 |
|
| Current assets |
| Debtors |
3 |
|
212,058 |
|
|
755,624 |
| Cash at bank and in hand |
|
|
1,620,041 |
|
|
1,570,581 |
|
|
|
1,832,099 |
|
|
2,326,205 |
|
| Creditors: amounts falling due within one year |
4 |
|
(225,518) |
|
|
(644,666) |
|
| Net current assets |
|
|
|
1,606,581 |
|
|
1,681,539 |
|
| Net assets |
|
|
|
1,974,945 |
|
|
1,933,197 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
5 |
|
|
100 |
|
|
100 |
| Profit and loss account |
6 |
|
|
1,974,845 |
|
|
1,933,097 |
|
| Shareholders' funds |
|
|
|
1,974,945 |
|
|
1,933,197 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
|
| M J C C Rutherford |
| Director |
| Approved by the board on 19 September 2018 |
|
| Michael Rutherford Limited |
| Notes to the Accounts |
| for the year ended 31 December 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents royalties, performance and other related income and is credited to the profit and loss account once it is reliably measurable. In practice this is on the contractually due date for royalty reporting. |
|
|
Depreciation |
|
Depreciation is not provided on freehold properties as, in the opinion of the directors, the estimated residual value is greater than the book value. |
|
|
Depreciation has been provided on other tangible fixed assets in equal annual instalments at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Furniture, fixtures and fittings |
25% |
|
Motor vehicles |
25% |
|
Equipment |
25% |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are recorded at the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
| 2 |
Tangible fixed assets |
|
|
Land and buildings |
|
Fixtures, fittings and equipment |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2017 |
239,999 |
|
217,614 |
|
20,744 |
|
478,357 |
|
Additions |
- |
|
165,451 |
|
- |
|
165,451 |
|
Disposals |
- |
|
(85,854) |
|
(14,744) |
|
(100,598) |
|
At 31 December 2017 |
239,999 |
|
297,211 |
|
6,000 |
|
543,210 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2017 |
- |
|
207,454 |
|
19,245 |
|
226,699 |
|
Charge for the year |
- |
|
47,245 |
|
1,500 |
|
48,745 |
|
On disposals |
- |
|
(85,853) |
|
(14,745) |
|
(100,598) |
|
At 31 December 2017 |
- |
|
168,846 |
|
6,000 |
|
174,846 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2017 |
239,999 |
|
128,365 |
|
- |
|
368,364 |
|
At 31 December 2016 |
239,999 |
|
10,160 |
|
1,499 |
|
251,658 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
40,170 |
|
4,617 |
|
Prepayments & accrued income |
32,142 |
|
477,543 |
|
Amounts owed by related parties |
|
26,604 |
|
164,700 |
|
Amounts owed by directors |
|
|
|
|
113,142 |
|
108,764 |
|
|
|
|
|
|
212,058 |
|
755,624 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Accruals & deferred income |
36,741 |
|
87,093 |
|
Trade creditors |
|
91,750 |
|
209,292 |
|
Amounts owed to related parties |
2 |
|
501 |
|
Corporation tax |
23,995 |
|
225,869 |
|
Other taxes and social security |
62,677 |
|
103,596 |
|
Other creditors |
10,353 |
|
10,787 |
|
Amounts owed to directors |
- |
|
7,528 |
|
|
|
|
|
|
225,518 |
|
644,666 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Share capital |
Nominal |
|
2017 |
|
2017 |
|
2016 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Profit and loss account |
2017 |
| £ |
|
|
At 1 January 2017 |
1,933,097 |
|
Dividends paid |
(109,900) |
|
Profit for the year |
151,648 |
|
|
At 31 December 2017 |
1,974,845 |
|
|
|
|
|
|
|
|
| 7 |
Dividends |
2017 |
|
2016 |
| £ |
£ |
|
Dividends for which the company became liable during the year: |
|
|
Dividends paid |
109,900 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 8 |
Transactions with directors |
|
|
There have been no transactions with the directors requiring disclosure. |
|
|
| 9 |
Transactions with related parties |
|
|
There have been no transactions with related parties requiring disclosure. |
|
|
| 10 |
Other information |
|
|
Michael Rutherford Limited is a private company limited by shares and registered in England and Wales. Its registered office is: |
|
|
25 Ives Street |
|
London |
|
SW3 2ND |
