REGISTERED NUMBER: 01519183

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

RUSHBY BUILDERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W Rushby

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

250,000

CURRENT ASSETS

Debtors

5

4,188

-

Cash at bank

10,419

11,075

14,607

11,075

CREDITORS

Amounts falling due within one year

6

(4,678

)

(4,677

)

NET CURRENT ASSETS

9,929

6,398

TOTAL ASSETS LESS CURRENT LIABILITIES

259,929

256,398

PROVISIONS FOR LIABILITIES

7

(36,344

)

(36,344

)

NET ASSETS

223,585

220,054

CAPITAL AND RESERVES

Called up share capital

2

2

Investment property reserve -

non distributable

8

192,282

192,282

Retained earnings

8

31,301

27,770

SHAREHOLDERS' FUNDS

223,585

220,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 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 10 April 2019 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 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 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 (2017 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2017

and 30 November 2018

250,000

NET BOOK VALUE

At 30 November 2018

250,000

At 30 November 2017

250,000

Fair value at 30 November 2018 is represented by:

£

Valuation in 2018

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:

2018

2017

£

£

Cost

21,374

21,374

The investment property was valued on an open market basis on 30 November 2018 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

4,188

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Directors' current accounts

281

281

Deferred income

1,397

1,396

Accrued expenses

3,000

3,000

4,678

4,677

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

36,344

36,344

Deferred

tax

£

Balance at 1 December 2017

36,344

Balance at 30 November 2018

36,344

8.

RESERVES

Investments property revaluation reserve - non dist

Retained earnings

Total

£

£

£

At 1 December 2017

192,282

27,770

220,052

Net result in the year

3,531

3,531

At 30 November 201

192,282

31,301

223,583

9.	RELATED PARTY DISCLOSURES

During the year the company made rental payments of £18,000 (2017: £18,000) to a Pension Scheme in which

the company director, Mr W Rushby, is a beneficiary on an open market value basis.