Rushworth & Co (Sowerby Bridge) Limited - Accounts to registrar (filleted) - small 18.2

Rushworth & Co (Sowerby Bridge) Limited - Accounts to registrar (filleted) - small 18.2

RUSHWORTH & CO.(SOWERBY BRIDGE)LIMITED - Company Information

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REGISTERED NUMBER: 00500880 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2018

for

Rushworth & Co (Sowerby Bridge) Limited
Rushworth & Co (Sowerby Bridge) Limited (Registered number: 00500880)






Contents of the Financial Statements
for the Year Ended 30 June 2018




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Rushworth & Co (Sowerby Bridge) Limited

Company Information
for the Year Ended 30 June 2018







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
Wyre Forest House
Finepoint Way
Kidderminster
Worcestershire
DY11 7WF
Page 1
Rushworth & Co (Sowerby Bridge) Limited (Registered number: 00500880)

Abridged Balance Sheet
30 June 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,741 -
Investment property 5 1,514,993 1,400,739
1,606,734 1,400,739

CURRENT ASSETS
Stocks 4,993 -
Debtors 51,033 40,870
Investments 2,178,218 2,374,889
Cash at bank and in hand 539,241 513,683
2,773,485 2,929,442
CREDITORS
Amounts falling due within one year 141,182 126,339
NET CURRENT ASSETS 2,632,303 2,803,103
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,239,037
4,203,842

CREDITORS
Amounts falling due after more than one
year
(39,247
)
-

PROVISIONS FOR LIABILITIES (121,065 ) (58,442 )
NET ASSETS 4,078,725 4,145,400

CAPITAL AND RESERVES
Called up share capital 72,000 72,000
Capital redemption reserve 25,877 25,877
Fair value reserve 6 939,296 650,998
Retained earnings 3,041,552 3,396,525
SHAREHOLDERS' FUNDS 4,078,725 4,145,400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 notes form part of these financial statements

Page 2
Rushworth & Co (Sowerby Bridge) Limited (Registered number: 00500880)

Abridged Balance Sheet - continued
30 June 2018


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 30 June 2018 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 12 October 2018 and were signed on its behalf by:





A H Johnson - Director


The notes form part of these financial statements

Page 3
Rushworth & Co (Sowerby Bridge) Limited (Registered number: 00500880)

Notes to the Financial Statements
for the Year Ended 30 June 2018

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade
discounts. The policies adopted for the recognition of turnover are as follows:

Rental income

When the outcome of a transaction can be estimated reliably, turnover from rental income is recognised in the
period it relates to.

Sale of goods

Turnover from CNC engineering is recognised when significant risks and rewards of ownership of the goods
have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic
benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in
respect of the transaction can be measured reliably. This is usually on delivery to the customer.

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
Motor vehicles - 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.

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.


Page 4
Rushworth & Co (Sowerby Bridge) Limited (Registered number: 00500880)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2018

2. ACCOUNTING POLICIES - continued
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 3 (2017 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2017 3,965
Additions 122,321
At 30 June 2018 126,286
DEPRECIATION
At 1 July 2017 3,965
Charge for year 30,580
At 30 June 2018 34,545
NET BOOK VALUE
At 30 June 2018 91,741
At 30 June 2017 -

Page 5
Rushworth & Co (Sowerby Bridge) Limited (Registered number: 00500880)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2018

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2017 1,456,376
Revaluations 58,617
At 30 June 2018 1,514,993
DEPRECIATION
At 1 July 2017 55,637
Revaluation adjustments (55,637 )
At 30 June 2018 -
NET BOOK VALUE
At 30 June 2018 1,514,993
At 30 June 2017 1,400,739

Fair value at 30 June 2018 is represented by:

£   
Valuation in 1998 315,592
Valuation in 2018 58,617
Cost 1,140,784
1,514,993

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

2018 2017
£    £   
Cost 1,140,784 790,366
Aggregate depreciation - 116,196

Investment property was valued on an open market basis basis on 30 June 2018 by the directors .

6. RESERVES
Fair
value
reserve
£   
At 1 July 2017 650,998
Investment property 241,017
Investments 47,281

At 30 June 2018 939,296

Page 6