Ruxley Enterprises Limited - Period Ending 2019-12-31

Ruxley Enterprises Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Ruxley Enterprises Limited

Company Information

Directors

John H Winter Juliette Winter

Company secretary

Juliette Winter

Registered office

Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ

Accountants

Roffe Swayne Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ

Ruxley Enterprises Limited

(Registration number: 06505896)
Balance Sheet as at 31 December 2019

	Note	2019 $	2018 $
Fixed assets
Tangible assets	4	1,909	1,146
Investments	5	212,000	212,000
		213,909	213,146
Current assets
Debtors	6	859,836	2,630,180
Cash at bank and in hand		3,110	17,374
		862,946	2,647,554
Creditors: Amounts falling due within one year	7	(1,643,475)	(3,244,955)
Net current liabilities		(780,529)	(597,401)
Net liabilities		(566,620)	(384,255)
Capital and reserves
Called up share capital	8	11,336	11,336
Share premium reserve		15,702,507	15,702,507
Capital redemption reserve		9,049	9,049
Profit and loss account		(16,289,512)	(16,107,147)
Total equity		(566,620)	(384,255)

For the financial year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Ruxley Enterprises Limited

(Registration number: 06505896)
Balance Sheet as at 31 December 2019

Approved and authorised by the Board on 14 December 2020 and signed on its behalf by:
 

John H Winter
Director

Ruxley Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Ashcombe Court
Woolsack Way
Godalming
Surrey
GU7 1LQ

The principal place of business is:
The Hop House
Kennel Lane
Frensham
GU10 3AS

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The financial statements contain information about Ruxley Enterprises Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. .

Going concern

The financial statements have been prepared on a going concern basis due to the continued support of the shareholder.

We have paid particular attention to the likely effects on the business of the current Covid-19 outbreak and we remain confident that sufficient funding is in place and that the company has adequate resources to enable the company to continue as a going concern for the foreseeable future.

Ruxley Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	20% straight line

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2018 - 2).

Ruxley Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

4	Tangible assets

	Furniture, fittings and equipment  $	Total $
Cost or valuation
At 1 January 2019	1,411	1,411
Additions	1,134	1,134
At 31 December 2019	2,545	2,545
Depreciation
At 1 January 2019	265	265
Charge for the year	371	371
At 31 December 2019	636	636
Carrying amount
At 31 December 2019	1,909	1,909
At 31 December 2018	1,146	1,146

5	Investments

	2019 $	2018 $
Investments in subsidiaries	212,000	212,000

Subsidiaries	$
Cost or valuation
At 1 January 2019	212,000
Provision
Carrying amount
At 31 December 2019	212,000
At 31 December 2018	212,000

Ruxley Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

5	Investments (continued)

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking		Holding	Proportion of voting rights and shares held
			2019	2018

Subsidiary undertakings
Ruxley Ventures Limited		Ordinary shares	100%	100%
City General Insurance Company Limited*		Ordinary shares & perpetual preference shares	100%	100%
Ruxley Management Services Limited*		Ordinary shares	100%	100%
Aviation & General Insurance Company Limited*		Ordinary shares	100%	100%

*Indirectly held

6

Debtors

	Note	2019 $	2018 $
Amounts owed by group undertakings and undertakings in which the company has a participating interest		845,040	2,629,022
Prepayments		3,883	348
Other debtors		10,913	810
		859,836	2,630,180

Ruxley Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019

7

Creditors

	Note	2019 $	2018 $
Due within one year
Trade creditors		12,358	1,300
Amounts owed to group undertakings and undertakings in which the company has a participating interest		1,611,768	3,229,044
Taxation and social security		-	10,734
Accruals and deferred income		-	3,877
Director's loan account		19,349	-
		1,643,475	3,244,955

8	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	$	No.	$
Ordinary shares - Class A of £1 each	5,474	11,181	5,474	11,181
Ordinary shares - Class B of £1 each	100	153	100	153
Ordinary shares - Class C of £1 each	1	2	1	2
	5,575	11,336	5,575	11,336