Russen & Turner Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04899005 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018

FOR

RUSSEN & TURNER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

9

DIRECTORS:

E C Weightman

M Lock

G M Stovold

SECRETARY:

E C Weightman

REGISTERED OFFICE:

11 King Street

King's Lynn

Norfolk

PE30 1ET

BUSINESS ADDRESS:

17 High Street

King's Lynn

Norfolk

PE30 1BP

REGISTERED NUMBER:

04899005 (England and Wales)

ACCOUNTANTS:

Aston Shaw

Chartered Certified Accountants

11 King Street

King's Lynn

Norfolk

PE30 1ET

FIXED ASSETS

Intangible assets

4

34,530

40,285

Tangible assets

5

30,391

23,560

Investments

6

7,952

7,952

72,873

71,797

CURRENT ASSETS

Debtors

7

107,148

109,554

Cash at bank and in hand

88,632

177,152

195,780

286,706

CREDITORS

Amounts falling due within one year

8

168,280

230,773

NET CURRENT ASSETS

27,500

55,933

TOTAL ASSETS LESS CURRENT LIABILITIES

100,373

127,730

PROVISIONS FOR LIABILITIES

9

5,317

3,911

NET ASSETS

95,056

123,819

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

94,956

123,719

SHAREHOLDERS' FUNDS

95,056

123,819

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 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 10 December 2018 and were signed on its behalf by:

E C Weightman - Director

1.	STATUTORY INFORMATION

Russen & Turner 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.

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 represents the sales invoiced in respect of services, net of value added tax.

Goodwill

Goodwill represents the excess of cost of acquisition over the fair value of the separable net assets of businesses

acquired. Goodwill is amortised through the profit and loss account in equal instalments over 20 years which the

directors believe is its useful economic life.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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

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.

Going concern

These financial statements have been prepared on the going concern basis. The directors consider this basis to be

appropriate but have not assessed a period in excess of 12 months from the date of approving the accounts.

Fixed asset investments

Fixed asset investments are included in the accounts at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2017 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2017

and 30 June 2018

115,100

AMORTISATION

At 1 July 2017

74,815

Amortisation for year

5,755

At 30 June 2018

80,570

NET BOOK VALUE

At 30 June 2018

34,530

At 30 June 2017

40,285

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 July 2017

8,053

34,057

34,120

76,230

Additions

10,807

-

2,470

13,277

Disposals

-

-

(940

)

(940

)

At 30 June 2018

18,860

34,057

35,650

88,567

DEPRECIATION

At 1 July 2017

4,195

32,062

16,413

52,670

Charge for year

805

500

5,141

6,446

Eliminated on disposal

-

-

(940

)

(940

)

At 30 June 2018

5,000

32,562

20,614

58,176

NET BOOK VALUE

At 30 June 2018

13,860

1,495

15,036

30,391

At 30 June 2017

3,858

1,995

17,707

23,560

6.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 July 2017

and 30 June 2018

7,952

NET BOOK VALUE

At 30 June 2018

7,952

At 30 June 2017

7,952

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

81,237

80,471

Other debtors

1,047

-

Prepayments

24,864

29,083

107,148

109,554

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

19,338

38,538

Other creditors

430

373

Corporation tax

32,669

52,869

Social security and other taxes

30,182

39,235

Company credit card

2,381

7,768

Directors' current accounts

79,472

89,913

Accrued expenses

3,808

2,077

168,280

230,773

9.	PROVISIONS FOR LIABILITIES

30.6.18

30.6.17

£

£

Deferred tax

5,317

3,911

Deferred

tax

£

Balance at 1 July 2017

3,911

Accelerated capital allowances

1,406

Balance at 30 June 2018

5,317

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

30.6.18

30.6.17

value:

£

£

400

Ordinary

25p

100

100

11.

RESERVES

Retained

earnings

£

At 1 July 2017

123,719

Profit for the year

129,637

Dividends

(158,400

)

At 30 June 2018

94,956

12.	RELATED PARTY DISCLOSURES

The following reproduces the text of the report prepared for the directors 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 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 Russen & Turner Limited for the year ended 30 June 2018 which comprise the Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Russen & Turner 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 Russen & Turner Limited and state those matters that we have agreed to state to the Board of Directors of Russen & Turner Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Russen & Turner 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 Russen & Turner Limited. You consider that Russen & Turner 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 Russen & Turner 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.

Aston Shaw

Chartered Certified Accountants

11 King Street

King's Lynn

Norfolk

PE30 1ET

12 December 2018