Registered number
08910845
Ruuby Ltd
Filleted Accounts
31 December 2022
Ruuby Ltd
Registered number: 08910845
Balance Sheet
as at 31 December 2022
Notes 31/12/22 31/3/22
£ £
Fixed assets
Intangible assets 3 910,992 850,022
Tangible assets 4 12,398 10,563
923,390 860,585
Current assets
Stocks 3,525 5,369
Debtors 5 165,276 90,107
Cash at bank and in hand 129,472 173,364
298,273 268,840
Creditors: amounts falling due within one year 6 (545,105) (512,934)
Net current liabilities (246,832) (244,094)
Total assets less current liabilities 676,558 616,491
Creditors: amounts falling due after more than one year 7 (139,360) (143,252)
Net assets 537,198 473,239
Capital and reserves
Called up share capital 4,157 3,969
Share premium 3,274,466 2,865,094
Profit and loss account (2,741,425) (2,395,824)
Shareholders' funds 537,198 473,239
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
V Archer
Director
Approved by the board on 18 October 2023
Ruuby Ltd
Notes to the Accounts
for the period from 1 April 2022 to 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
The amortisation periods for intangible fixed assets are as follows:
Goodwill  over 5 years
Technology development spend over 10 years
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 5 years
Computer equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 31/12/22 31/3/22
Number Number
Average number of persons employed by the company 11 11
3 Intangible fixed assets £
Goodwill Technology
Development
Cost
At 1 April 2022 551,742 933,159 1,484,901
Additions - 214,445 214,445
At 31 December 2022 551,742 1,147,604 1,699,346
Amortisation
At 1 April 2022 292,400 342,479 634,879
Provided during the period 109,650 43,825 153,475
At 31 December 2022 402,050 386,304 788,354
Net book value
At 31 December 2022 149,692 761,300 910,992
At 31 March 2022 259,342 590,680 850,022
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 20,842
Additions 3,929
At 31 December 2022 24,771
Depreciation
At 1 April 2022 10,279
Charge for the period 2,094
At 31 December 2022 12,373
Net book value
At 31 December 2022 12,398
At 31 March 2022 10,563
5 Debtors 31/12/22 31/3/22
£ £
Trade debtors 24,183 14,341
Amounts owed by group undertakings and undertakings in which the company has a participating interest 68,995 68,964
Other debtors 72,098 6,802
165,276 90,107
6 Creditors: amounts falling due within one year 31/12/22 31/3/22
£ £
Bank loans and overdrafts 93,272 93,268
Trade creditors 190,235 116,853
Taxation and social security costs 186,301 102,035
Other creditors 75,297 200,778
545,105 512,934
7 Creditors: amounts falling due after one year 31/12/22 31/3/22
£ £
Bank loans 35,948 39,738
Other creditors 103,412 103,514
139,360 143,252
8 Related party transactions
Included within Other Creditors are the following:
A non interest bearing unsecured loan of £54,098 issued by David Archer
9 Other information
Ruuby Ltd is a private company limited by shares and incorporated in England. Its registered office is:
28 Orchard Road
St Annes on Sea
FY8 1PF
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