Registered number
08910845
Ruuby Ltd
Filleted Accounts
31 December 2023
Ruuby Ltd
Registered number: 08910845
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1,034,670 910,992
Tangible assets 4 17,051 12,398
1,051,721 923,390
Current assets
Stocks 3,726 3,525
Debtors 5 163,448 93,798
Cash at bank and in hand 80,937 129,472
248,111 226,795
Creditors: amounts falling due within one year 6 (847,407) (545,105)
Net current liabilities (599,296) (318,310)
Total assets less current liabilities 452,425 605,080
Creditors: amounts falling due after more than one year 7 (30,778) (139,360)
Net assets 421,647 465,720
Capital and reserves
Called up share capital 4,176 4,157
Share premium 3,324,423 3,274,466
Profit and loss account (2,906,952) (2,812,903)
Shareholders' funds 421,647 465,720
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 28 August 2024
Ruuby Ltd
Notes to the Accounts
for the year ended 31 December 2023
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 2023 2022
Number Number
Average number of persons employed by the company 10 11
3 Intangible fixed assets £
Goodwill Technology
Development
Cost
At 1 January 2023 551,742 1,147,604 1,699,346
Additions - 308,353 308,353
At 31 December 2023 551,742 1,455,957 2,007,699
Amortisation
At 1 January 2023 484,288 304,066 788,354
Provided during the year 63,963 120,712 184,675
At 31 December 2023 548,251 424,778 973,029
Net book value
At 31 December 2023 3,491 1,031,179 1,034,670
At 31 December 2022 67,454 843,538 910,992
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 24,771
Additions 9,487
At 31 December 2023 34,258
Depreciation
At 1 January 2023 12,373
Charge for the year 4,834
At 31 December 2023 17,207
Net book value
At 31 December 2023 17,051
At 31 December 2022 12,398
5 Debtors 2023 2022
£ £
Trade debtors 43,192 24,183
Amounts owed by group undertakings and undertakings in which the company has a participating interest 69,128 68,995
Other debtors 51,128 620
163,448 93,798
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,164 93,272
Trade creditors 151,203 190,235
Taxation and social security costs 222,244 186,301
Other creditors 467,796 75,297
847,407 545,105
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,778 35,948
Other creditors - 103,412
30,778 139,360
8 Related party transactions
Included within Other Creditors are the following unsecured loans made by directors:
Loan totalling £50,000 issued by V Archer
Loans totalling £54,098 issued by David Archer
Loan totalling £15,000 issued by David Archer
Loan totalling £50,000 issued by Jeffrey Day
Loans totalling £50,000 issued by SCI LMDV St Remy de Provence, a company associated with David Archer
9 Tax on Loss 2023 2022
£ £
Research & development tax credit relating to 2021 20,656
Research & development tax credit relating to 2022 36,174
10 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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