Rushby Builders Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01519183

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

RUSHBY BUILDERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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

FIXED ASSETS

Investment property

4

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

Investment property reserve -

non distributable

7

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 2018 and were signed on its behalf by:

Mrs D Williams - Director

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.

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

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

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

192,282

34,832

227,114

Net result in the year

(6,062

)

(6,062

)

At 30 November 2017

192,282

27,770

221,052

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