Russell & Russell Business Advisers Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC226378 (Scotland)

RUSSELL & RUSSELL BUSINESS ADVISERS

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2022

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

35,000

55,000

Tangible assets

5

11,026

13,367

Investments

6

88,927

112,927

134,953

181,294

CURRENT ASSETS

Debtors

7

632,680

451,033

Cash at bank and in hand

245,787

184,574

878,467

635,607

CREDITORS

Amounts falling due within one year

8

379,258

316,726

NET CURRENT ASSETS

499,209

318,881

TOTAL ASSETS LESS CURRENT LIABILITIES

634,162

500,175

CREDITORS

Amounts falling due after more than one year

9

(35,670

)

(45,287

)

PROVISIONS FOR LIABILITIES

(1,639

)

(1,980

)

NET ASSETS

596,853

452,908

CAPITAL AND RESERVES

Called up share capital

11

330

330

Retained earnings

596,523

452,578

SHAREHOLDERS' FUNDS

596,853

452,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2022 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 27th October 2022 and were signed on its behalf by:

A W Russell - Director

K W Russell - 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.

Going concern

The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to continue to operate for the foreseeable future.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st February 2021

and 31st January 2022

400,000

AMORTISATION

At 1st February 2021

345,000

Amortisation for year

20,000

At 31st January 2022

365,000

NET BOOK VALUE

At 31st January 2022

35,000

At 31st January 2021

55,000

5.	TANGIBLE FIXED ASSETS

Furniture

Office

& fittings

equipment

Totals

£

£

£

COST

At 1st February 2021

19,813

45,308

65,121

Additions

105

3,455

3,560

At 31st January 2022

19,918

48,763

68,681

DEPRECIATION

At 1st February 2021

16,936

34,818

51,754

Charge for year

931

4,970

5,901

At 31st January 2022

17,867

39,788

57,655

NET BOOK VALUE

At 31st January 2022

2,051

8,975

11,026

At 31st January 2021

2,877

10,490

13,367

6.	FIXED ASSET INVESTMENTS

Loans to

Russell &

Russell

Partnership

£

At 1st February 2021

112,927

Repayment in year

(24,000

)

At 31st January 2022

88,927

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 in full. A W Russell and K W Russell are the partners in Russell & Russell Partnership.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Trade debtors

338,617

212,123

Amounts recoverable on contracts

248,010

194,280

Other debtors

46,053

44,630

632,680

451,033

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Bank loans and overdrafts (see note 10)

9,617

4,713

Payments on account

54,421

55,564

Trade creditors

14,873

14,904

Taxation and social security

230,764

175,609

Other creditors

69,583

65,936

379,258

316,726

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.22

31.1.21

£

£

Bank loans (see note 10)

35,670

45,287

10.

LOANS

An analysis of the maturity of loans is given below:

31.1.22

31.1.21

£

£

Amounts falling due within one year or on demand:

Bank loans

9,617

4,713

Amounts falling due between one and two years:

Bank loans

35,670

45,287

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.22

31.1.21

value:

£

£

132

"A" ordinary

£1

132

165

68

"B" ordinary

£1

68

84

49

"C" ordinary

£1

49

49

16

"D" ordinary

£1

16

16

49

"E" ordinary

£1

49

16

16

"F" ordinary

£1

16

-

330

330