Russell & Russell Business Advisers Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC226378 (Scotland)

RUSSELL & RUSSELL BUSINESS ADVISERS

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A W Russell

K W Russell

I McMonagle

R McMaster

S M Clark

SECRETARY:

K W Russell

REGISTERED OFFICE:

4 Royal Crescent

Glasgow

G3 7SL

REGISTERED NUMBER:

SC226378 (Scotland)

FIXED ASSETS

Intangible assets

4

95,000

115,000

Tangible assets

5

7,352

12,044

Investments

6

159,456

159,456

261,808

286,500

CURRENT ASSETS

Debtors

7

374,107

341,636

Cash at bank and in hand

114,760

83,388

488,867

425,024

CREDITORS

Amounts falling due within one year

8

278,830

232,904

NET CURRENT ASSETS

210,037

192,120

TOTAL ASSETS LESS CURRENT LIABILITIES

471,845

478,620

PROVISIONS FOR LIABILITIES

897

1,692

NET ASSETS

470,948

476,928

CAPITAL AND RESERVES

Called up share capital

9

330

330

Retained earnings

470,618

476,598

SHAREHOLDERS' FUNDS

470,948

476,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2019 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 30th October 2019 and were signed on its behalf by:

K W Russell - Director

R McMaster - Director

1.	STATUTORY INFORMATION

Russell & Russell Business Advisers Limited is a private company, limited by shares , registered in Scotland.

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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The turnover shown in the profit and loss account represents the fees earned and expenses reimbursed during the

year, exclusive of Value Added Tax. Turnover in respect of contracts for on-going services is recognised by

reference to the estimated stage of completion.

Goodwill

Goodwill arising on the acquisition of a business acquired on 1st November, 2003, representing the excess of the

fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, has been

capitalised and is being written off on a straight line basis over its useful economic life of 20 years.

Tangible fixed assets

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

Office equipment

- 25% straight line

Furniture & fittings

- 15% to 20% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

Operating leases

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

Pensions paid are charged to the profit and loss account in the period in which they are paid.

The company operates a defined contribution group personal pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they relate.

Exceptional items

The company defines exceptional items as material items which derive from events or transactions that fall

within the ordinary activities of the company and which individually, or, if of a similar type, in aggregate, need to

be disclosed by virtue of their size or incidence if the financial statements are to give a true and fair view.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2018 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st February 2018

and 31st January 2019

400,000

AMORTISATION

At 1st February 2018

285,000

Amortisation for year

20,000

At 31st January 2019

305,000

NET BOOK VALUE

At 31st January 2019

95,000

At 31st January 2018

115,000

5.	TANGIBLE FIXED ASSETS

Furniture

Office

& fittings

equipment

Totals

£

£

£

COST

At 1st February 2018

18,454

43,495

61,949

Additions

-

779

779

Disposals

-

(735

)

(735

)

At 31st January 2019

18,454

43,539

61,993

DEPRECIATION

At 1st February 2018

16,107

33,798

49,905

Charge for year

604

4,867

5,471

Eliminated on disposal

-

(735

)

(735

)

At 31st January 2019

16,711

37,930

54,641

NET BOOK VALUE

At 31st January 2019

1,743

5,609

7,352

At 31st January 2018

2,347

9,697

12,044

6.	FIXED ASSET INVESTMENTS

Loans to

Russell &

Russell

Partnership

£

At 1st February 2018

and 31st January 2019

159,456

The loan to Russell & Russell Partnership bears no interest and is stated at cost. This is deemed to be the fair

value as the loan is expected to be repaid within 12 months. A W Russell and K W Russell are the partners in

Russell & Russell Partnership.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade debtors

214,328

193,380

Amounts recoverable on contracts

132,104

122,921

Other debtors

27,675

25,335

374,107

341,636

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Payments on account

35,683

24,716

Trade creditors

9,801

6,788

Taxation and social security

150,508

132,156

Other creditors

82,838

69,244

278,830

232,904

Other creditors includes £7,866 (2017- £9,233) due to Russell & Russell Partnership.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.19

31.1.18

value:

£

£

165

"A" ordinary

£1

165

165

84

"B" ordinary

£1

84

84

49

"C" ordinary

£1

49

49

16

"D" ordinary

£1

16

16

16

"E" ordinary

£1

16

16

330

330