REGISTERED NUMBER: 02704357 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RUST RESOURCES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Fielding

L M Guiliano

G Lennox

H M Smith

D E Spencer

REGISTERED OFFICE:

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

REGISTERED NUMBER:

02704357 (England and Wales)

AUDITORS:

RJP LLP

Chartered Certified Accountants &

Statutory Auditors

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

CURRENT ASSETS

Debtors

5

639,204

525,824

Cash at bank

1,579

20,027

640,783

545,851

CREDITORS

Amounts falling due within one year

6

595,310

229,124

NET CURRENT ASSETS

45,473

316,727

TOTAL ASSETS LESS CURRENT LIABILITIES

45,473

316,727

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

45,373

316,627

SHAREHOLDERS' FUNDS

45,473

316,727

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2025 and were signed on its behalf by:

L M Guiliano - Director

1.	STATUTORY INFORMATION

Rust Resources Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned entities within the group.

Turnover

Turnover is measured as the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of returns, discounts and Value Added Taxes.

The company recognises the turnover when (a) the significant risk and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the services; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity; and (e) when specific criteria relating to the services have been met as described below.

Tangible fixed assets

Tangible 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. All assets currently held by the company have been fully depreciated in a prior year.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Current or deferred taxation assets and liabilities are not discounted.

Foreign currencies

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 Income Statement.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

8,562

DEPRECIATION

At 1 January 2024

and 31 December 2024

8,562

NET BOOK VALUE

At 31 December 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

610,291

-

Amounts owed by group undertakings

14

503,628

Other debtors

28,899

22,196

639,204

525,824

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

128,324

28,410

Amounts owed to group undertakings

389,107

163,442

Taxation and social security

38,320

11,430

Other creditors

39,559

25,842

595,310

229,124

7.	DEFERRED TAX

£

Balance at 1 January 2024

(1,477

)

Balance at 31 December 2024

(1,477

)

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Blay (Senior Statutory Auditor)

for and on behalf of RJP LLP

10.	ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The immediate and ultimate controlling parent undertaking is Rust Resources Holdco Limited, which is registered in England and Wales and has the same registered office as that of Rust Resources Limited.

Group accounts are not prepared because the group qualifies as a small group.

The directors do not consider there to be any one controlling party.