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Registered number: 11382334
Ruby Labs Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
More Group (Accounting) Limited
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Director Ms Anastasia Norvik
Company Number 11382334
Registered Office 1 Giltspur Street
Farringdon
London
EC1A 9DD
Accountants More Group (Accounting) Limited
1 Giltspur Street
Farringdon
London
EC1A 9DD
Page 1
Page 2
Balance Sheet
Registered number: 11382334
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 5 543 2,904
Tangible Assets 6 6,848 14,976
7,391 17,880
CURRENT ASSETS
Debtors 7 5,332,480 4,126,993
Cash at bank and in hand 42,106 48,191
5,374,586 4,175,184
Creditors: Amounts Falling Due Within One Year 8 (10,430,131 ) (6,843,742 )
NET CURRENT ASSETS (LIABILITIES) (5,055,545 ) (2,668,558 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,048,154 ) (2,650,678 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (352 ) -
NET LIABILITIES (5,048,506 ) (2,650,678 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (5,048,606 ) (2,650,778 )
SHAREHOLDERS' FUNDS (5,048,506) (2,650,678)
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Page 3
For the year ending 30 September 2024 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 directors acknowledge their 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.
The financial statements were approved by the board of directors on 25 June 2025 and were signed on its behalf by:
Ms Anastasia Norvik
Director
25/06/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Ruby Labs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11382334 . The registered office is 1 Giltspur Street, Farringdon, London, EC1A 9DD.
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.
2.2. Going Concern Disclosure
These accounts have been prepared on the going concern basis, on the understanding that the company will continue to be financially supported by other entities of the same group which are sister companies as well as the holding company.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
The fair values of financial assets traded in active markets are based on quoted market prices at the balance sheet date.The quoted market prices used for financial assets are the current bid prices; the appropriate quoted market prices for financial liabilities are the current asking prices.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33.33% Straight Line Method
2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised in the company's balance sheet 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 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, 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 discounted.
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 its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction where they are subsequently carried at amortised cost using effective interest method. Financial liabilities that constitute a financing transaction are measured at present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not discounted.
...CONTINUED
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2.6. Financial Instruments - continued
Debt instruments are subsequently carried at amortised cost, using effective interest rate method.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling 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.
2.8. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 9)
3 9
4. Prior Period Adjustment
A priror period adjustment has been recorded during the year and the comparatives are restated for an error identified in the calculation of license fees charged from RLabs Europe Ltd for the prior year. 
5. Intangible Assets
Other
£
Cost or Valuation
As at 1 October 2023 2,904
Revaluations (2,361 )
As at 30 September 2024 543
Net Book Value
As at 30 September 2024 543
As at 1 October 2023 2,904
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Page 6
6. Tangible Assets
Computer Equipment
£
Cost
As at 1 October 2023 29,322
Disposals (6,917 )
As at 30 September 2024 22,405
Depreciation
As at 1 October 2023 14,346
Provided during the period 8,017
Disposals (6,806 )
As at 30 September 2024 15,557
Net Book Value
As at 30 September 2024 6,848
As at 1 October 2023 14,976
7. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 3,280,270 3,043,579
Prepayments and accrued income 29,024 11,703
Corporation tax recoverable assets - 12
VAT 62,246 3,363
Amounts owed by group undertakings 1,960,940 1,068,336
5,332,480 4,126,993
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 3,037,779 2,894,632
Other taxes and social security 3,344 5,246
Accruals and deferred income 976,263 57,754
Amounts owed to group undertakings 6,412,745 3,886,110
10,430,131 6,843,742
9. Share Capital
2024 2023
as restated
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
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10. Ultimate Controlling Party
The company's ultimate controlling party is RLabs Holding Ltd by virtue of their ownership of the issued share capital in the company.
The company's immediate parent is RLabs Holding Ltd, incorporated in Malta.
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