Rushby Builders Limited - Accounts to registrar (filleted) - small 18.1

Rushby Builders Limited - Accounts to registrar (filleted) - small 18.1


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REGISTERED NUMBER: 01519183















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

RUSHBY BUILDERS LIMITED

RUSHBY BUILDERS LIMITED (REGISTERED NUMBER: 01519183)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RUSHBY BUILDERS LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2017







DIRECTORS: Mr W Rushby
Mrs D Williams





SECRETARY: Mrs D Williams





REGISTERED OFFICE: 54 Sun Street
Waltham Abbey
Essex
EN9 1EJ





REGISTERED NUMBER: 01519183





ACCOUNTANTS: KNIGHT WHEELER LIMITED
Chartered Accountants
54 Sun Street
Waltham Abbey
Essex
EN9 1EJ

RUSHBY BUILDERS LIMITED (REGISTERED NUMBER: 01519183)

BALANCE SHEET
30 November 2017

2017 2016
Notes £    £   
FIXED ASSETS
Investment property 4 250,000 250,000

CURRENT ASSETS
Cash at bank 11,075 20,167

CREDITORS
Amounts falling due within one year 5 (4,677 ) (6,707 )
NET CURRENT ASSETS 6,398 13,460
TOTAL ASSETS LESS CURRENT
LIABILITIES

256,398

263,460

PROVISIONS FOR LIABILITIES 6 (36,344 ) (36,344 )
NET ASSETS 220,054 227,116

CAPITAL AND RESERVES
Called up share capital 2 2
Investment property reserve -
non distributable 7 192,282 192,282
Retained earnings 7 27,770 34,832
SHAREHOLDERS' FUNDS 220,054 227,116

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 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 21 June 2018and were signed on its behalf by:




Mrs D Williams- Director


RUSHBY BUILDERS LIMITED (REGISTERED NUMBER: 01519183)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2017

1. STATUTORY INFORMATION

Rushby Builders Limited is a private company, limited by shares, registered in Not specified/Other. 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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling (£) which is also the functional currency for the company and
rounded to the nearest £.

Turnover
Turnover represents rent receivable from property investments.

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.

The company measures at fair value of its listed investments at the end of each accounting period reflecting any
adjustment for fair value through the profit and loss account for the year.

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at
fair value at each reporting date with changes in fair value recognised in profit or loss.

The methods and significant assumptions used to ascertain the fair value at the balance sheet date and fair value
movement included in the profit for the year are as follows:

The investment properties are revalued annually to fair value by company directors with periodic external open
market valuations.

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.

RUSHBY BUILDERS LIMITED (REGISTERED NUMBER: 01519183)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2017

2. ACCOUNTING POLICIES - continued

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.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and any short term deposits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2016
and 30 November 2017 250,000
NET BOOK VALUE
At 30 November 2017 250,000
At 30 November 2016 250,000

Fair value at 30 November 2017 is represented by:

£   
Valuation in 2017 228,626
Cost 21,374
250,000

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

2017 2016
£    £   
Cost 21,374 21,374

The investment property was valued on an open market basis on 30 November 2017 by the director .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Other creditors 4,677 6,707

6. PROVISIONS FOR LIABILITIES
2017 2016
£    £   
Deferred tax 36,344 36,344

RUSHBY BUILDERS LIMITED (REGISTERED NUMBER: 01519183)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2017

6. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2016 36,344
Balance at 30 November 2017 36,344

7. RESERVES





Investments
property
revaluation
reserve - non
dist



Retained
earnings




Total
£££

At 1 December 2016 as restated 192,28234,832227,114
Net result in the year(6,062)(6,062)

At 30 November 2017192,28227,770221,052


8. RELATED PARTY DISCLOSURES

During the year the company made rental payments of £18,000 (2016: £18,000) to a Pension Scheme in which
the company director, Mr W Rushby, is a beneficiary on an open market value basis.

9. TRANSITIONAL ADJUSTMENTS UNDER FRS 102

RESTATED RESERVES




Investment
property
revaluation
reserve


Retained
earnings



Total
£ £ £
At 1 December 2015 as reported 228,626 34,832 263,458
Deferred tax on revaluation (36,344 ) - (36,344 )
At 30 November 2016 as restated 192,282 34,832 227,114