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Company Registration Number 10091846
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UNAUDITED
FINANCIAL STATEMENTS
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PHIL RUSHFIRTH LIMITED
REGISTERED NUMBER:10091846
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STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Page 1
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PHIL RUSHFIRTH LIMITED
REGISTERED NUMBER:10091846
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2022
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 March 2023.
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Philip Andrew Rushfirth
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Phil Rushfirth Limited is a private company, limited by shares, registered in England and Wales with a registration number of 10091846. Its registered office is 7 Airport West, Lancaster Way, Yeadon, Leeds, England, LS19 7ZA.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 2 (2021 - 2).
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Page 3
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Due after more than one year
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Creditors: Amounts falling due within one year
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Page 4
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Authorised, allotted, called up and fully paid
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550,000 "A" Ordinary shares of £1 each shares of £1.00 each
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1 "B" Ordinary shares of £1 each share of £1.00
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500,000 "C" Ordinary shares of £1 each shares of £1.00 each
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500,000 "D" Ordinary shares of £1 each shares of £1.00 each
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446,002 "E" Ordinary shares of £1 each shares of £1.00 each
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Related party transactions
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Included within debtors is a balance of £1,904,956 (2021: £1,904,959) due from a company in which Phil Rushfirth Limited has a participating interest.
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Page 5
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