Company Registration No. 07074542 (England and Wales)
The Russell Motor Company Limited
Unaudited accounts
for the year ended 31 July 2020
The Russell Motor Company Limited
Unaudited accounts
Contents
The Russell Motor Company Limited
Company Information
for the year ended 31 July 2020
Company Number
07074542 (England and Wales)
Registered Office
Kingsbury Trading Estate
15 Barningham Way
London
NW9 8AU
Accountants
RMR Partnership LLP
3rd Floor, Vyman House
104 College Road
Harrow
Middlesex
HA1 1BQ
The Russell Motor Company Limited
Statement of financial position
as at
31 July 2020
Tangible assets
1,869
2,427
Cash at bank and in hand
112,753
15,642
Creditors: amounts falling due within one year
(41,606)
(25,821)
Net current assets
73,264
30,737
Total assets less current liabilities
75,133
33,164
Creditors: amounts falling due after more than one year
(50,000)
-
Called up share capital
100
2
Profit and loss account
25,033
33,162
Shareholders' funds
25,133
33,164
For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 May 2021 and were signed on its behalf by
Nitesh Mistry
Director
Company Registration No. 07074542
The Russell Motor Company Limited
Notes to the Accounts
for the year ended 31 July 2020
The Russell Motor Company Limited is a private company, limited by shares, registered in England and Wales, registration number 07074542. The registered office is Kingsbury Trading Estate, 15 Barningham Way, London, NW9 8AU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
20% reducing balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 August 2019
4,862
1,787
6,649
At 31 July 2020
4,862
1,787
6,649
At 1 August 2019
3,418
804
4,222
Charge for the year
361
197
558
At 31 July 2020
3,779
1,001
4,780
At 31 July 2020
1,083
786
1,869
At 31 July 2019
1,444
983
2,427
The Russell Motor Company Limited
Notes to the Accounts
for the year ended 31 July 2020
5
Debtors: amounts falling due within one year
2020
2019
Accrued income and prepayments
-
2,215
6
Creditors: amounts falling due within one year
2020
2019
Trade creditors
11,920
15,333
Amounts owed to group undertakings and other participating interests
14,937
-
Taxes and social security
13,975
8,575
Other creditors
432
1,913
Loans from directors
84
-
7
Creditors: amounts falling due after more than one year
2020
2019
8
Average number of employees
During the year the average number of employees was 1 (2019: 1).