Company registration number 04092406 (England and Wales)
RUXLEY VENTURES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
RUXLEY VENTURES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RUXLEY VENTURES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
$
$
$
$
Fixed assets
Investments
4
388,356
388,356
Current assets
Debtors
5
135,350
138,003
Cash at bank and in hand
2,305
137,655
138,003
Creditors: amounts falling due within one year
6
(18)
Net current assets
137,655
137,985
Net assets
526,011
526,341
Capital and reserves
Called up share capital
7
997
997
Profit and loss reserves
525,014
525,344
Total equity
526,011
526,341
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 July 2024 and are signed on its behalf by:
Mrs J L Winter
Director
Company Registration No. 04092406
RUXLEY VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Ruxley Ventures Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ashcombe Court, Woolsack Way, Godalming, Surrey, United Kingdom, GU7 1LQ. The principal place of business is Quarry Cottage, Passfield Road, Passfield, Liphook, Hampshire, GU30 7RU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in US dollars, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest $.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
We have paid particular attention to the likely effects on the business of the world economic uncertainty and we remain confident that sufficient funding is in place and that the company has adequate resources to enable the company to continue as a going concern for the foreseeable future.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Furniture, fittings and equipment
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Group accounts not prepared
The financial statements contain information about Ruxley Ventures Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.
1.6
Foreign currency transactions and balances
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.
RUXLEY VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Furniture, fittings and equipment
$
Cost
At 1 January 2023 and 31 December 2023
30,000
Depreciation and impairment
At 1 January 2023 and 31 December 2023
30,000
Carrying amount
At 31 December 2023
At 31 December 2022
4
Fixed asset investments
2023
2022
$
$
Investments in subsidiaries
388,356
388,356
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
City General Insurance Company Limited- 100% Ordinary shares held
Ruxley Management Services Limited- 100% Ordinary shares held
Aviation & General Insurance Company Limited- 100% Ordinary shares held
All subsidiaries are registered in England and Wales.
5
Debtors
2023
2022
Amounts falling due within one year:
$
$
Amounts owed by group undertakings
135,350
138,003
RUXLEY VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
6
Creditors: amounts falling due within one year
2023
2022
$
$
Bank loans and overdrafts
18
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
$
$
Issued and fully paid
Ordinary A1 shares of $1.1875 each
400
400
475
475
Ordinary A2 shares of $1.18666666 each
300
300
356
356
Ordinary C shares of $1.18571429 each
140
140
166
166
840
840
997
997
8
Parent and ultimate parent undertaking
The company's immediate parent is Ruxley Enterprises Limited, incorporated in England and Wales.
These financial statements are available upon request from Ashcombe Court, Woolsack Way, Godalming, Surrey, GU7 1LQ.
The ultimate controlling party is John H Winter.