T Russell Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06408607 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2017

for

T Russell Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr T Russell

REGISTERED OFFICE:

107 North Street

Martock

Somerset

TA12 6EJ

REGISTERED NUMBER:

06408607 (England and Wales)

ACCOUNTANTS:

Read & Co.

107 North Street

Martock

Somerset

TA12 6EJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

30,356

18,837

30,356

18,837

CURRENT ASSETS

Stocks

1,550

3,680

Debtors

6

125,605

268,417

Cash at bank

323,862

49,597

451,017

321,694

CREDITORS

Amounts falling due within one year

7

211,071

200,664

NET CURRENT ASSETS

239,946

121,030

TOTAL ASSETS LESS CURRENT LIABILITIES

270,302

139,867

CREDITORS

Amounts falling due after more than one year

8

-

(4,166

)

PROVISIONS FOR LIABILITIES

9

(5,768

)

(3,579

)

NET ASSETS

264,534

132,122

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

11

264,533

132,121

SHAREHOLDERS' FUNDS

264,534

132,122

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 director acknowledges his 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 director on 30 August 2018 and were signed by:

Mr T Russell - Director

1.	STATUTORY INFORMATION

T Russell Developments 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2016

and 30 November 2017

25,500

AMORTISATION

At 1 December 2016

and 30 November 2017

25,500

NET BOOK VALUE

At 30 November 2017

-

At 30 November 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2016

17,202

1,329

39,082

1,906

59,519

Additions

21,000

-

-

693

21,693

At 30 November 2017

38,202

1,329

39,082

2,599

81,212

DEPRECIATION

At 1 December 2016

15,343

889

23,373

1,077

40,682

Charge for year

5,753

110

3,930

381

10,174

At 30 November 2017

21,096

999

27,303

1,458

50,856

NET BOOK VALUE

At 30 November 2017

17,106

330

11,779

1,141

30,356

At 30 November 2016

1,859

440

15,709

829

18,837

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Trade debtors

122,253

7,663

Amounts recoverable on contract

-

250,993

VAT

2,727

9,160

Prepayments

625

601

125,605

268,417

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Hire purchase contracts

4,166

5,000

Trade creditors

17,591

21,838

Corporation tax

34,288

15,103

Social security and other taxes

868

2,049

Lloyds TSB commercial card

979

1,515

Directors' current accounts

152,131

154,019

Accrued expenses

1,048

1,140

211,071

200,664

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.17

30.11.16

£

£

Hire purchase contracts

-

4,166

9.	PROVISIONS FOR LIABILITIES

30.11.17

30.11.16

£

£

Deferred tax

5,768

3,579

Deferred

tax

£

Balance at 1 December 2016

3,579

Charge to Income Statement during year

2,189

Balance at 30 November 2017

5,768

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.17

30.11.16

value:

£

£

1

Ordinary

£1

1

1

11.

RESERVES

Retained

earnings

£

At 1 December 2016

132,121

Profit for the year

152,412

Dividends

(20,000

)

At 30 November 2017

264,533

12.	RELATED PARTY DISCLOSURES

During the year the company paid dividends of £20,000 to Mr T Russell who is a director.

TRANSACTIONS WITH DIRECTORS

The company operates a current account with the director and the activity during the year was as follows:

30.11.17

30.11.16

Mr T Russell

£

£

Amount owed to director at end of year

152,131

154,019

Amount owed to director at start of year

154,019

521

The amount owed to the director is interest free and repayable on demand.

The company was under the ultimate control of Mr T Russell who is the sole director and shareholder.