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Company Registration No. 02947022 (England and Wales)
Rubynest Limited Unaudited accounts for the year ended 31 December 2023
Rubynest Limited Unaudited accounts Contents
Page
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Rubynest Limited Company Information for the year ended 31 December 2023
Director
Mr T A F Lulham
Secretary
Mrs A J Lulham
Company Number
02947022 (England and Wales)
Registered Office
Albany House Claremont Lane Esher Surrey KT10 9FQ
Accountants
Wellden Turnbull Limited Albany House Claremont Lane Esher Surrey KT10 9FQ
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Rubynest Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
58,504 
86,697 
Current assets
Inventories
12,577 
12,080 
Debtors
309,510 
217,452 
Cash at bank and in hand
135,011 
193,950 
457,098 
423,482 
Creditors: amounts falling due within one year
(325,382)
(282,380)
Net current assets
131,716 
141,102 
Net assets
190,220 
227,799 
Capital and reserves
Called up share capital
45,000 
45,000 
Profit and loss account
145,220 
182,799 
Shareholders' funds
190,220 
227,799 
For the year ending 31 December 2023 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 10 July 2024 and were signed on its behalf by
Mr T A F Lulham Director Company Registration No. 02947022
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Rubynest Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Rubynest Limited is a private company, limited by shares, registered in England and Wales, registration number 02947022. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ.
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.
3
Accounting policies
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.
Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
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
10% - 25% straight line
Stocks
Stocks are stated at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term creditors are measured at the transaction price.
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Rubynest Limited Notes to the Accounts for the year ended 31 December 2023
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Interest income
Interest income is recognised in the statement of income and retained earnings using the effective interest method.
Taxation
Tax is recognised in the statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2023
364,101 
Additions
7,439 
Disposals
(20,317)
At 31 December 2023
351,223 
Depreciation
At 1 January 2023
277,404 
Charge for the year
35,632 
On disposals
(20,317)
At 31 December 2023
292,719 
Net book value
At 31 December 2023
58,504 
At 31 December 2022
86,697 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
288,974 
198,885 
Accrued income and prepayments
18,696 
16,492 
Other debtors
1,840 
2,075 
309,510 
217,452 
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Rubynest Limited Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
33,333 
Trade creditors
13,967 
14,300 
Taxes and social security
255,769 
174,383 
Other creditors
23,786 
23,131 
Loans from directors
- 
2,952 
Accruals
31,860 
34,281 
325,382 
282,380 
The bank loan was secured in favour of Barclays Security Trustee Limited over the assets of the company.
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
45,000 Ordinary shares of £1 each
45,000 
45,000 
8
Transactions with related parties
The Company has taken the exemption under FRS 102 section 33.1A not to disclose transactions and balances with wholly owned group companies.
9
Controlling party
The company is a wholly-owned subsidiary of Icklin Ltd, a company registered in England and Wales. The registered office of the company is the same as Rubynest Limited. The ultimate controlling party is Mr T A F Lulham by virtue of his majority shareholding of the issued share capital of Icklin Ltd.
10
Average number of employees
During the year the average number of employees was 25 (2022: 23).
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