Company registration number 09492393 (England and Wales)
RUBRICS ASSET MANAGEMENT (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
RUBRICS ASSET MANAGEMENT (UK) LIMITED
CONTENTS
Page
Company information
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 8
RUBRICS ASSET MANAGEMENT (UK) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr S O'Hanlon
Mr M Trenchard
Secretary
BCS Cosec Limited
Company number
09492393
Registered office
1st Floor, Nicholas House
3 Laurence Pountney Hill
London
EC4R 0EU
Accountants
TC Group
Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
RUBRICS ASSET MANAGEMENT (UK) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
$
$
$
$
Non-current assets
Intangible assets
4
402,008
768,873
Current assets
Trade and other receivables
6
27,472
42,966
Cash and cash equivalents
55,090
194,462
82,562
237,428
Current liabilities
7
(3,580,853)
(3,445,586)
Net current liabilities
(3,498,291)
(3,208,158)
Net liabilities
(3,096,283)
(2,439,285)
Equity
Called up share capital
8
13,035
13,035
Retained earnings
(3,109,318)
(2,452,320)
Total equity
(3,096,283)
(2,439,285)
RUBRICS ASSET MANAGEMENT (UK) LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 3 -

For the financial year ended 31 March 2025 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 of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 30 May 2025 and are signed on its behalf by:
Mr S O'Hanlon
Director
Company registration number 09492393 (England and Wales)
RUBRICS ASSET MANAGEMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

Rubrics Asset Management (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, Nicholas House, 3 Laurence Pountney Hill, London, EC4R 0EU.

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

At the time of approving these financial statements, the Directors have a reasonable expectation that the company has adequate resources, to continue in operational existence for the foreseeable future.

 

Consequently, the Directors believe that it continues to be appropriate to prepare the financial statements on a going concern basis.

1.3
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from services is recognised in reference to the service level agreement the company has with Rubrics Asset Management (Ireland) Limited. This consists of meeting the costs of the company and also a share of the profits of Rubrics Asset Management (Ireland) Limited.

 

Investment advisory fees and consultancy fees receivable are recognised in the period to which they relate.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.5
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

RUBRICS ASSET MANAGEMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -

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 basis:

Computers
33% 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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables 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, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

RUBRICS ASSET MANAGEMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.9
Taxation

The tax expense represents deferred tax.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Foreign exchange

Transactions in currencies other than US dollars 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 are included in the income statement for the period.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

RUBRICS ASSET MANAGEMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
3
Employees

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

2025
2024
Number
Number
Total
5
6
4
Intangible fixed assets
Goodwill
$
Cost
At 1 April 2024 and 31 March 2025
3,668,653
Amortisation and impairment
At 1 April 2024
2,899,780
Amortisation charged for the year
366,865
At 31 March 2025
3,266,645
Carrying amount
At 31 March 2025
402,008
At 31 March 2024
768,873
5
Property, plant and equipment
Plant and machinery etc
$
Cost
At 1 April 2024 and 31 March 2025
43,547
Depreciation and impairment
At 1 April 2024 and 31 March 2025
43,547
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
RUBRICS ASSET MANAGEMENT (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
6
Trade and other receivables
2025
2024
Amounts falling due within one year:
$
$
Other receivables
27,472
42,966
7
Current liabilities
2025
2024
$
$
Taxation and social security
16,010
22,010
Other payables
3,564,843
3,423,576
3,580,853
3,445,586

Included within other payables above is a loan to the Company from Shard Capital Management Limited of $2,968,652, which became callable on 6 February 2024. Under the terms of the arrangement, interest is charged on the balance owing at 10% per annum. For the year ended 31 March 2025, interest expenses of $296,865 (2024: $44,359) were incurred and remain payable.

8
Called up share capital
2025
2024
$
$
Ordinary share capital
Issued and fully paid
100,000 ordinary shares of £0.10 each
13,035
13,035
9
Parent company

The company's parent company is S O'Hanlon Limited. The group is exempt from preparing group accounts as it meets the small group criteria.

 

The company's ultimate controlling party is Steve O'Hanlon.

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