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Registered number: 05391576














RUBY CAPITAL SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

 
RUBY CAPITAL SERVICES LIMITED
 
 
COMPANY INFORMATION


Director
S Rubens 




Registered number
05391576



Registered office
2nd Floor Connaught House
1-3 Mount Street

London

W1K 3NB




Independent auditors
Sopher + Co LLP
Chartered Accountants & Statutory Auditors

5 Elstree Gate

Elstree Way

Borehamwood

WD6 1JD





 
RUBY CAPITAL SERVICES LIMITED
 

CONTENTS



Page
Group Strategic Report
 
1 - 2
Director's Report
 
3 - 4
Independent Auditors' Report
 
5 - 8
Consolidated Statement of Comprehensive Income
 
9
Consolidated Statement of Financial Position
 
10
Company Statement of Financial Position
 
11
Consolidated Statement of Changes in Equity
 
12
Company Statement of Changes in Equity
 
13
Consolidated Statement of Cash Flows
 
14
Consolidated Analysis of Net Debt
 
15
Notes to the Financial Statements
 
16 - 25


 
RUBY CAPITAL SERVICES LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025

Introduction
 
The director presents the strategic report for the year ended 31 March 2025.

Business review
 
The director does not anticipate any change in the nature of the company's and the group's principal activities in the future.
The results and the financial position at the year end were considered satisfactory by the director.

Principal risks and uncertainties
 
Liquidity risk
The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet the requirements set out by the Financial Conduct Authority.
The group has sufficient liquidity and retained reserves at the year end for its working capital needs.
Credit risk
The group's principal financial assets are cash and debtors. The principal credit risk arises therefore from its debtors.
In order to manage credit risk the directors actively manage debtors by monitoring outstanding balances regularly.

Financial key performance indicators
 
Given the straightforward nature of the business, the group's director is of the opinion that analysis using key performance indicators is not necessary for an understanding of the development, performance or position of the business.

Page 1

 
RUBY CAPITAL SERVICES LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Director's statement of compliance with duty to promote the success of the Group
 
The board of directors consider that they have acted in the way they consider, in good faith, would be most likely to promote the success of the group for the benefit of its members as a whole (having regard to the stakeholders and matters set out in S172(1)(a-f) of the Act) in the decisions taken during the financial year ended 31 March 2024.
In coming to this conclusion, the director has considered the following:
a) Consideration of long term consequences are an inherent part of the group's decision making processes. As a privately owned company, the board considers that the interests of the group and its shareholders are aligned in seeking sustainable value creation over the longer term through the group's operations, promoting long term strategic decision making.
b) The group operates in the financial sector which is a sector characterised by long term relationships with stakeholders and is driven largely by maintaining strong relationships. Maintaining a reputation for high standards of business conduct is vital and the group expects all parties with whom it transacts always act with integrity, openly, honestly and ethically. The group has zero tolerance to fraud and  maintains effective oversight and scrutiny processes, executed with independence and impartiality.
c) When taking decisions, the board considers the potential impact the decisions they take may have on the environmental and socially. Given the size of the business the impact of the group's operations on the community and environment is not considerable.
d) The integrity of the group is underpinned with policies in relation to bribery and corruption, data protection, equality, diversity, fraud and whistleblowing, each of which is reinforced through appropriate training.
e) The directors believe that the interests of the shareholders are aligned with that of the group.


This report was approved by the board on 11 July 2025 and signed on its behalf.



S Rubens
Director

Page 2

 
RUBY CAPITAL SERVICES LIMITED
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025

The director presents his report and the financial statements for the year ended 31 March 2025.

Principal activity

The principal activity of the company in the year was to act as a service company to Ruby Capital Partners LLP.
The group comprises of the company and its subsidiary, Ruby Capital Partners LLP. The principal activity of the group in the year was the provision of investment management services.

Director

The director who served during the year was:

S Rubens 

Results and dividends

The profit for the year, after taxation and minority interests, amounted to £20,678 (2024 - £1,583).

There were no dividends declared in the year.

Director's responsibilities statement

The director is responsible for preparing the Group Strategic Report, the Director's Report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the Group and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Future developments

The director is optimistic regarding the future development of the group.

Page 3

 
RUBY CAPITAL SERVICES LIMITED
 
 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information to auditors

The director at the time when this Director's Report is approved has confirmed that:
 
so far as he is aware, there is no relevant audit information of which the company and the Group's auditors are unaware, and

he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditors are aware of that information.

Auditors

The auditorsSopher + Co LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 11 July 2025 and signed on its behalf.
 





S Rubens
Director

Page 4

 
RUBY CAPITAL SERVICES LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RUBY CAPITAL SERVICES LIMITED
 

Opinion


We have audited the financial statements of Ruby Capital Services Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Group Statement of Comprehensive Income, the Group and company Statements of Financial Position, the Group Statement of Cash Flows, the Group and company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent company's affairs as at 31 March 2025 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.


Other information


The director is responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


Page 5

 
RUBY CAPITAL SERVICES LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RUBY CAPITAL SERVICES LIMITED (CONTINUED)

Other information (continued)
In connection with our audit of the financial statementsour responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Director's Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Director's Responsibilities Statement set out on page 3, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the director is responsible for assessing the Group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Group or the parent company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
RUBY CAPITAL SERVICES LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RUBY CAPITAL SERVICES LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: 
 
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 
we identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge and experience; 
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, taxation legislation and data protection, rules and regulations set by the Financial Conduct Authority, anti-bribery, employment, environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and 
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 

We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: 
 
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; 
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and 
understanding the design of the Company’s remuneration policies. 

To address the risk of fraud through management bias and override of controls, we: 
 
performed analytical procedures to identify any unusual or unexpected relationships; 
tested journal entries to identify unusual transactions; 
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and 
investigated the rationale behind significant or unusual transactions. 

 
Page 7

 
RUBY CAPITAL SERVICES LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF RUBY CAPITAL SERVICES LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements (continued)
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 
 
agreeing financial statement disclosures to underlying supporting documentation; 
 enquiring of management as to actual and potential litigation and claims; and 
reviewing correspondence with HMRC, relevant regulators and the Company’s legal advisors. 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. 
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Martyn Atkinson FCA (Senior Statutory Auditor)
  
for and on behalf of
Sopher + Co LLP
 
Chartered Accountants
Statutory Auditors
  
5 Elstree Gate
Elstree Way
Borehamwood
WD6 1JD

11 July 2025
Page 8

 
RUBY CAPITAL SERVICES LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
Note
£
£

  

Turnover
 4 
491,467
474,416

Cost of sales
  
(118,871)
(131,504)

Gross profit
  
372,596
342,912

Administrative expenses
  
(256,047)
(203,714)

Other operating income
 5 
-
18,696

Operating profit
 6 
116,549
157,894

Interest receivable and similar income
 9 
2,927
3,762

Profit before taxation
  
119,476
161,656

Tax on profit
 10 
(12,271)
(3,899)

Profit for the financial year
  
107,205
157,757

Profit for the year attributable to:
  

Non-controlling interests
  
86,527
156,174

Owners of the parent company
  
20,678
1,583

  
107,205
157,757

There was no other comprehensive income for 2025 (2024:£NIL).

The notes on pages 16 to 25 form part of these financial statements.

Page 9

 
RUBY CAPITAL SERVICES LIMITED
REGISTERED NUMBER:05391576

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 12 
5,550
6,158

Current assets
  

Debtors: amounts falling due within one year
 14 
124,936
85,552

Bank and cash balances
  
74,379
108,312

  
199,315
193,864

Current liabilities
  

Creditors: amounts falling due within one year
 15 
(49,753)
(57,607)

Net current assets
  
 
 
149,562
 
 
136,257

Net assets
  
155,112
142,415


Capital and reserves
  

Called up share capital 
 16 
310,000
310,000

Profit and loss account
 17 
343,517
322,839

Equity attributable to owners of the parent company
  
653,517
632,839

Non-controlling interests
  
(498,405)
(490,424)

  
155,112
142,415


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 July 2025.




S Rubens
Director

The notes on pages 16 to 25 form part of these financial statements.

Page 10

 
RUBY CAPITAL SERVICES LIMITED
REGISTERED NUMBER:05391576

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 12 
5,550
6,158

Investments
 13 
905,306
905,306

  
910,856
911,464

Current assets
  

Debtors: amounts falling due within one year
 14 
18,749
14,651

Bank and cash balances
  
3,640
1,068

  
22,389
15,719

Current liabilities
  

Creditors: amounts falling due within one year
 15 
(50,226)
(64,842)

Net current liabilities
  
 
 
(27,837)
 
 
(49,123)

  

  

Net assets
  
883,019
862,341


Capital and reserves
  

Called up share capital 
 16 
310,000
310,000

Profit and loss account carried forward
  
573,019
552,341

  
883,019
862,341


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 July 2025.




S Rubens
Director

The notes on pages 16 to 25 form part of these financial statements.

Page 11

 
RUBY CAPITAL SERVICES LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025


Called up share capital
Profit and loss account
Equity attributable to owners of parent company
Non-controlling interests
Total equity

£
£
£
£
£


At 1 April 2023
310,000
321,256
631,256
(501,363)
129,893



Profit for the year
-
1,583
1,583
156,174
157,757

Payments made in the year
-
-
-
(145,235)
(145,235)



At 1 April 2024
310,000
322,839
632,839
(490,424)
142,415



Profit for the year
-
20,678
20,678
86,527
107,205


Payments made in the year
-
-
-
(94,508)
(94,508)


At 31 March 2025
310,000
343,517
653,517
(498,405)
155,112


The notes on pages 16 to 25 form part of these financial statements.

Page 12

 
RUBY CAPITAL SERVICES LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2023
310,000
550,758
860,758



Profit for the year
-
1,583
1,583



At 1 April 2024
310,000
552,341
862,341



Profit for the year
-
20,678
20,678


At 31 March 2025
310,000
573,019
883,019


The notes on pages 16 to 25 form part of these financial statements.

Page 13

 
RUBY CAPITAL SERVICES LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025

2025
2024
£
£

Cash flows from operating activities

Profit for the financial year
107,205
157,757

Adjustments for:

Depreciation of tangible assets
4,631
6,286

Interest received
(2,927)
(3,762)

Taxation charge
12,271
3,899

(Increase) in debtors
(39,384)
(11,217)

(Decrease)/increase in creditors
(16,297)
6,885

Corporation tax (paid)
(3,828)
(25,227)

Net cash generated from operating activities

61,671
134,621


Cash flows from investing activities

Purchase of tangible fixed assets
(4,023)
(3,291)

Interest received
2,927
3,762

Net cash from investing activities

(1,096)
471

Cash flows from financing activities

Payments to non-controlling interests
(94,508)
(145,235)

Net cash used in financing activities
(94,508)
(145,235)

Net (decrease) in cash and cash equivalents
(33,933)
(10,143)

Cash and cash equivalents at beginning of year
108,312
118,455

Cash and cash equivalents at the end of year
74,379
108,312


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
74,379
108,312

74,379
108,312


The notes on pages 16 to 25 form part of these financial statements.

Page 14

 
RUBY CAPITAL SERVICES LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2025




At 1 April 2024
Cash flows
At 31 March 2025
£

£

£

Cash at bank and in hand

108,312

(33,933)

74,379


108,312
(33,933)
74,379

The notes on pages 16 to 25 form part of these financial statements.

Page 15

 
RUBY CAPITAL SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Ruby Capital Services Limited is a private limited liability company incorporated and domiciled in England & Wales, with its registered office address at 2nd Floor Connaught House, 1-3 Mount Street, London W1K 3NB. Its principal place of business is at 3 Barrett Street, St. Christopher's Place, London W1U 1AY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Turnover

Turnover which is stated net of value added tax, represents management fees and performance fees arising from continued activities in the United Kingdom.
Management fees are recognised on the accruals basis. Performance fees are accrued when they crystallise.
Consultancy and directorship fees are recognised on the accruals basis. 

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 16

 
RUBY CAPITAL SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Plant and machinery
-
3 years straight line
Fixtures and fittings
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Basic financial instruments

The company and group only enters into transactions that result in the recognition of basic financial assets and basic financial liabilities.
Basic financial assets, such as trade and other debtors, are recognised initially at the transaction price less attributable costs. Basic financial liabilities, such as trade creditors and other creditors, are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of basic financial assets.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional 
restrictions.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is an 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.


Page 17

 
RUBY CAPITAL SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The group includes a Limited Liability Partnership ('LLP'). Each member of the LLP is exclusively liable for any tax liabilities arising out of their interest in the LLP. Tax is assessed on the individual members and not on the LLP. Therefore there is no requirement to make a provision for tax in respect of the LLP.


 
2.9

Foreign currency translation

The company's functional and presentational currency is £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

There are no critical accounting estimates and judgments that materially affect the company's and group's accounts.

Page 18

 
RUBY CAPITAL SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Turnover

The whole of the turnover is attributable to the principal activity of the group and arose in the United Kingdom.


5.


Other operating income

2025
2024
£
£

Net rents receivable
-
18,696



6.


Operating profit

The operating profit is stated after charging:

2025
2024
£
£

Exchange differences
(63)
143

Other operating lease rentals
63,333
48,500


7.


Auditors' remuneration

During the year, the group obtained the following services from the company's auditors:


2025
2024
£
£



Audit of the group financial statements
7,700
7,700

Audit of subsidiary's financial statements
3,250
3,250

All other services
5,329
9,945

16,279
20,895


8.


Employees

Staff costs, including director's remuneration, were as follows:


Group
Group
2025
2024
£
£


Emoluments
3,660
2,317


Page 19

 
RUBY CAPITAL SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.


Interest receivable

2025
2024
£
£


Other interest receivable
2,927
3,762


10.


Taxation


2025
2024
£
£

Corporation tax


Current tax on profits for the year
12,271
3,899


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2024 - lower than) the effective rate of corporation tax in the UK of 25% (2024 - 20.07%). The differences are explained below:

2025
2024
£
£


Profit on ordinary activities before tax
119,476
161,656


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 20.07%)
29,869
32,444

Effects of:


Expenses not deductible for tax purposes
8,660
2,852

Capital allowances for year in excess of depreciation
(537)
(53)

Profits attributable to other members of the subsidiary
(25,236)
(31,344)

Marginal relief
(485)
-

Total tax charge for the year
12,271
3,899

Tax on partnership profits is assessed on the members rather than the partnership and accordingly no tax is included in these accounts in respect of the part of the profit attributable to the other non-controlling members of the subsidiary undertaking.


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 20

 
RUBY CAPITAL SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

11.


Parent company profit for the year

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent company for the year was £20,678 (2024 - £1,583).


12.


Tangible fixed assets

Group






Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost


At 1 April 2024
24,819
18,085
42,904


Additions
3,373
650
4,023



At 31 March 2025

28,192
18,735
46,927



Depreciation


At 1 April 2024
22,419
14,327
36,746


Charge for the year on owned assets
2,368
2,263
4,631



At 31 March 2025

24,787
16,590
41,377



Net book value



At 31 March 2025
3,405
2,145
5,550



At 31 March 2024
2,400
3,758
6,158

Page 21

 
RUBY CAPITAL SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

           12.Tangible fixed assets (continued)


Company






Plant and machinery
Fixtures and fittings
Total

£
£
£

Cost


At 1 April 2024
24,819
18,085
42,904


Additions
3,373
650
4,023



At 31 March 2025

28,192
18,735
46,927



Depreciation


At 1 April 2024
22,419
14,327
36,746


Charge for the year on owned assets
2,368
2,263
4,631



At 31 March 2025

24,787
16,590
41,377



Net book value



At 31 March 2025
3,405
2,145
5,550



At 31 March 2024
2,400
3,758
6,158






Page 22

 
RUBY CAPITAL SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

13.


Fixed asset investments

Company





Investments in subsidiary undertaking

£



Cost 


At 1 April 2024
905,306



At 31 March 2025
905,306




Investments held by the company represents the company’s capital interest in its subsidiary undertaking, Ruby Capital Partners LLP, an LLP registered in the United Kingdom, in which it has a controlling interest. The nature of the subsidiary’s business is that of investment management services.



14.


Debtors

Group
Group
Company
Company
2025
2024
2025
2024
£
£
£
£


Trade debtors
37,659
28,158
7,450
-

Amounts owed by group undertakings
-
-
64
64

Other debtors
7,070
14,671
1,215
9,569

Prepayments and accrued income
80,207
42,723
10,020
5,018

124,936
85,552
18,749
14,651


Included within other debtors is an amount of £1,215 (2024 - £5,594) due from S Rubens. This was fully repaid within 9 months of the reporting date.

Page 23

 
RUBY CAPITAL SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

15.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2025
2024
2025
2024
£
£
£
£

Trade creditors
4,071
21,321
756
6,709

Amounts owed to group undertakings
-
-
34,155
49,103

Corporation tax
11,938
3,495
11,938
3,495

Other taxation and social security
-
-
1,427
-

Other creditors
7,742
1,568
-
1,568

Accruals and deferred income
26,002
31,223
1,950
3,967

49,753
57,607
50,226
64,842



16.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



310,000 Ordinary shares of £1 each
310,000
310,000



17.


Reserves

Profit and loss account

The profit and loss reserve contains the cumulative balance of retained profit and losses since the company started trading. It is a distributable reserve.


18.


Commitments under operating leases

At 31 March 2025 the Group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2025
2024
2025
2024
£
£
£
£

Not later than 1 year
59,244
58,269
54,000
54,000

Later than 1 year and not later than 5 years
-
3,913
-
-

59,244
62,182
54,000
54,000

Page 24

 
RUBY CAPITAL SERVICES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

19.


Related party transactions

During the year the company made sales of £217,975 (2024 - £121,394) to Ruby Capital Partners LLP, an undertaking controlled by the company.


20.


Non-controlling interest

Non-controlling interest represents the interests of the other members of the subsidiary, Ruby Capital Partners LLP.


21.


Controlling party

In the director's opinion the company's immediate parent undertaking is RCP International Management Limited, a company registered in the Cayman Islands. The ultimate controlling party is S Rubens.

 
Page 25