Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 8 February 2022 false 1 January 2023 31 December 2023 31 December 2023 13900340 Mr Ufuk Civilo iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13900340 2022-12-31 13900340 2023-12-31 13900340 2023-01-01 2023-12-31 13900340 frs-core:CurrentFinancialInstruments 2023-12-31 13900340 frs-core:Non-currentFinancialInstruments 2023-12-31 13900340 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 13900340 frs-core:OtherResidualIntangibleAssets 2023-12-31 13900340 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 13900340 frs-core:OtherResidualIntangibleAssets 2022-12-31 13900340 frs-core:ShareCapital 2023-12-31 13900340 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13900340 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13900340 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13900340 frs-bus:SmallEntities 2023-01-01 2023-12-31 13900340 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13900340 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13900340 frs-core:CostValuation 2022-12-31 13900340 frs-core:CostValuation 2023-12-31 13900340 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 13900340 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 13900340 frs-bus:Director1 2023-01-01 2023-12-31 13900340 frs-core:CurrentFinancialInstruments 1 2023-12-31 13900340 frs-core:Non-currentFinancialInstruments 1 2023-12-31 13900340 frs-core:CurrentFinancialInstruments 2 2023-12-31 13900340 frs-core:CurrentFinancialInstruments 3 2023-12-31 13900340 frs-core:CurrentFinancialInstruments 4 2023-12-31 13900340 frs-core:CurrentFinancialInstruments 5 2023-12-31 13900340 frs-countries:EnglandWales 2023-01-01 2023-12-31 13900340 2022-02-07 13900340 2022-12-31 13900340 2022-02-08 2022-12-31 13900340 frs-core:CurrentFinancialInstruments 2022-12-31 13900340 frs-core:Non-currentFinancialInstruments 2022-12-31 13900340 frs-core:ShareCapital 2022-12-31 13900340 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 13900340 frs-core:CurrentFinancialInstruments 1 2022-12-31 13900340 frs-core:Non-currentFinancialInstruments 1 2022-12-31 13900340 frs-core:CurrentFinancialInstruments 2 2022-12-31 13900340 frs-core:CurrentFinancialInstruments 3 2022-12-31 13900340 frs-core:CurrentFinancialInstruments 4 2022-12-31 13900340 frs-core:CurrentFinancialInstruments 5 2022-12-31
Registered number: 13900340
Rubi Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Adroit Accountax Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13900340
31 December 2023 31 December 2022
Notes $ $ $ $
FIXED ASSETS
Intangible Assets 4 2,703,818 2,991,174
Investments 5 3,296,723 3,296,723
6,000,541 6,287,897
CURRENT ASSETS
Stocks 6 466,902 142,115
Debtors 7 1,636,791 315,511
Cash at bank and in hand 98,975 12,183
2,202,668 469,809
Creditors: Amounts Falling Due Within One Year 8 (2,568,363 ) (1,261,724 )
NET CURRENT ASSETS (LIABILITIES) (365,695 ) (791,915 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,634,846 5,495,982
Creditors: Amounts Falling Due After More Than One Year 9 (5,788,407 ) (4,123,021 )
NET (LIABILITIES)/ASSETS (153,561 ) 1,372,961
CAPITAL AND RESERVES
Called up share capital 10 2,410,113 2,410,113
Profit and Loss Account (2,563,674 ) (1,037,152 )
SHAREHOLDERS' FUNDS (153,561) 1,372,961
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ufuk Civilo
Director
05/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rubi Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13900340 . The registered office is 71 Queen Victoria Street, Floor 8, London, England, EC4V 4AY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. Accounts are prepared in the functional currency $.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes and other sales taxes.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangibles relate to the purchase of a trademark. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into dollar at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Cash and cash equivalents
Cash and cash equivalents compromise cash at bank.
Page 3
Page 4
2.8. Trade and other debtors
Trade debtors that are receivable withine one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a finanacing transaction are recorded initially at fair value and subsequently at mortised cost, net of any impairment.
2.9. Trade and other creditors
Trade creditors are initially recongnised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial , in which case they ae stated at cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Intangible Assets
Other
$
Cost
As at 1 January 2023 3,148,604
Additions 27,500
As at 31 December 2023 3,176,104
Amortisation
As at 1 January 2023 157,430
Provided during the period 314,856
As at 31 December 2023 472,286
Net Book Value
As at 31 December 2023 2,703,818
As at 1 January 2023 2,991,174
5. Investments
Subsidiaries
$
Cost
As at 1 January 2023 3,296,723
As at 31 December 2023 3,296,723
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 3,296,723
As at 1 January 2023 3,296,723
Investments in subsidiary undertakings ae recognoised at cost.
Page 4
Page 5
6. Stocks
31 December 2023 31 December 2022
$ $
Finished goods 466,902 142,115
7. Debtors
31 December 2023 31 December 2022
$ $
Due within one year
Trade debtors 151,530 299,175
Other debtors 340,094 -
Intercompany loan 144,429 13,587
Initial capital 35 35
VAT 703 2,714
Amounts owed by group undertakings 1,000,000 -
1,636,791 315,511
8. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
$ $
Trade creditors 179,841 102,132
Bank loans and overdrafts 18,123 -
Other taxes and social security 5,068 -
Net wages 4,268 -
Inter-company loan 1,867,900 224,227
Atempo loan 491,052 813,677
Amazon loan - 121,566
Unpaid capital 122 122
Pension payable 1,989 -
2,568,363 1,261,724
9. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 December 2022
$ $
Atempo loans 4,817,169 3,992,014
Promissory Note 971,238 131,007
5,788,407 4,123,021
Page 5
Page 6
10. Share Capital
31 December 2023 31 December 2022
$ $
Allotted, Called up and fully paid 2,410,113 2,410,113
Page 6