Company registration number 05979652 (England and Wales)
RUGAGUG LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
RUGAGUG LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
RUGAGUG LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
89,484
107,381
Tangible assets
4
9,632
13,218
Investments
5
222,865
222,865
321,981
343,464
Current assets
Debtors
8
123,031
258,835
Cash at bank and in hand
1,485,999
1,404,187
1,609,030
1,663,022
Creditors: amounts falling due within one year
9
(125,660)
(158,067)
Net current assets
1,483,370
1,504,955
Total assets less current liabilities
1,805,351
1,848,419
Capital and reserves
Called up share capital
4
4
Capital redemption reserve
1
1
Profit and loss reserves
1,805,346
1,848,414
Total equity
1,805,351
1,848,419

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 30 November 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.

RUGAGUG LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 August 2024 and are signed on its behalf by:
Mr. G  Garvey
Mr. C  Potter
Director
Director
Mr. M Potter
Mr. P Turner
Director
Director
Company Registration No. 05979652
RUGAGUG LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Rugagug Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Colwyn Chambers, 19 York Street, Manchester, M2 3BA.

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 sterling, 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
Turnover

Turnover represents amounts receivable for the exploitation of musical recordings net of VAT.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably.

Amortisation 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:

Publishing rights
10 years straight line
1.4
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:

Fixtures, fittings & equipment
25% reducing balance

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.

1.5
Fixed asset investments

Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’.

 

RUGAGUG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.9

Group accounts exemption

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
RUGAGUG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
3
Intangible fixed assets
Publishing rights
£
Cost
At 1 December 2022 and 30 November 2023
178,969
Amortisation and impairment
At 1 December 2022
71,588
Amortisation charged for the year
17,897
At 30 November 2023
89,485
Carrying amount
At 30 November 2023
89,484
At 30 November 2022
107,381
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022
221,686
Additions
4,236
Disposals
(126,879)
At 30 November 2023
99,043
Depreciation and impairment
At 1 December 2022
208,468
Depreciation charged in the year
4,557
Eliminated in respect of disposals
(123,614)
At 30 November 2023
89,411
Carrying amount
At 30 November 2023
9,632
At 30 November 2022
13,218
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
222,865
222,865
RUGAGUG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
6
Subsidiaries

Details of the company's subsidiaries at 30 November 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Salvation Music Limited
3rd Floor Colwyn Chambers, 19 York Street, Manchester, M2 3BA
Ordinary
80.00
7
Significant undertakings

The company also has significant holdings in undertakings which are not consolidated:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Surprise Fireside Limited
3rd Floor Colwyn Chambers, 19 York Street, Manchester, M2 3BA
Ordinary
20.00
8
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
203
-
0
Amounts owed by group undertakings and undertakings in which the company has a participating interest
18,750
230,358
Other debtors
104,078
28,477
123,031
258,835
9
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
8,510
24,439
Corporation tax
23,959
26,088
Other taxation and social security
12,637
25,518
Other creditors
80,554
82,022
125,660
158,067
RUGAGUG LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
10
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Directors loan
-
6,900
(6,900)
-
Directors loan
-
6,900
(6,900)
-
13,800
(13,800)
-
2023-11-302022-12-01false12 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr G GarveyMr C PotterMr M PotterMr P TurnerMr. M Potterfalsefalse059796522022-12-012023-11-30059796522023-11-30059796522021-12-012022-11-3005979652core:DiscontinuedOperations2021-12-012022-11-30059796522022-11-3005979652core:OtherPropertyPlantEquipment2023-11-3005979652core:OtherPropertyPlantEquipment2022-11-3005979652core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3005979652core:CurrentFinancialInstrumentscore:WithinOneYear2022-11-3005979652core:CurrentFinancialInstruments2023-11-3005979652core:CurrentFinancialInstruments2022-11-3005979652core:ShareCapital2023-11-3005979652core:ShareCapital2022-11-3005979652core:CapitalRedemptionReserve2023-11-3005979652core:CapitalRedemptionReserve2022-11-3005979652core:RetainedEarningsAccumulatedLosses2023-11-3005979652core:RetainedEarningsAccumulatedLosses2022-11-3005979652bus:Director12022-12-012023-11-3005979652bus:Director22022-12-012023-11-3005979652bus:CompanySecretaryDirector12022-12-012023-11-3005979652core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3005979652core:FurnitureFittings2022-12-012023-11-3005979652core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-11-3005979652core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-11-3005979652core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-12-012023-11-3005979652core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2022-11-3005979652core:OtherPropertyPlantEquipment2022-11-3005979652core:OtherPropertyPlantEquipment2022-12-012023-11-3005979652core:WithinOneYear2023-11-3005979652core:WithinOneYear2022-11-3005979652bus:PrivateLimitedCompanyLtd2022-12-012023-11-3005979652bus:SmallCompaniesRegimeForAccounts2022-12-012023-11-3005979652bus:FRS1022022-12-012023-11-3005979652bus:AuditExemptWithAccountantsReport2022-12-012023-11-3005979652bus:Director32022-12-012023-11-3005979652bus:Director42022-12-012023-11-3005979652bus:CompanySecretary12022-12-012023-11-3005979652bus:FullAccounts2022-12-012023-11-30xbrli:purexbrli:sharesiso4217:GBP