Rubex UK Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07136505 (England and Wales)

Financial Statements for the Year Ended 31 January 2023

for

Rubex UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Romani Latif

REGISTERED OFFICE:

3-4 Western Road

Hove

East Sussex

BN3 1AE

REGISTERED NUMBER:

07136505 (England and Wales)

ACCOUNTANTS:

Atkinsons

Chartered Accountants

Palmeira Avenue Mansions

19 Church Road

Hove

East Sussex

BN3 2FA

FIXED ASSETS

Tangible assets

4

139,302

99,640

CURRENT ASSETS

Stocks

126,262

114,271

Debtors

5

7,231

33,088

Cash at bank and in hand

238,266

227,194

371,759

374,553

CREDITORS

Amounts falling due within one year

6

96,735

89,880

NET CURRENT ASSETS

275,024

284,673

TOTAL ASSETS LESS CURRENT LIABILITIES

414,326

384,313

CREDITORS

Amounts falling due after more than one year

7

(24,109

)

(33,020

)

PROVISIONS FOR LIABILITIES

(34,825

)

(18,932

)

NET ASSETS

355,392

332,361

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

355,290

332,259

SHAREHOLDERS' FUNDS

355,392

332,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 26 September 2023 and were signed by:

Mr Romani Latif - Director

1.	STATUTORY INFORMATION

Rubex UK 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred 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 or deferred taxation assets and liabilities are not discounted.

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

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.

Hire purchase and leasing commitments

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

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 9 (2022 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2022

170,511

5,400

5,505

181,416

Additions

70,514

-

3,139

73,653

At 31 January 2023

241,025

5,400

8,644

255,069

DEPRECIATION

At 1 February 2022

73,530

5,096

3,150

81,776

Charge for year

32,871

76

1,044

33,991

At 31 January 2023

106,401

5,172

4,194

115,767

NET BOOK VALUE

At 31 January 2023

134,624

228

4,450

139,302

At 31 January 2022

96,981

304

2,355

99,640

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade debtors

6,319

22,608

Other debtors

912

10,480

7,231

33,088

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans and overdrafts

10,049

11,147

Trade creditors

9,572

6,546

Taxation and social security

46,168

58,466

Other creditors

30,946

13,721

96,735

89,880

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans

24,109

33,020

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23

31.1.22

£

£

Mr Romani Latif

Balance outstanding at start of year

7,891

21,232

Amounts advanced

159,360

-

Amounts repaid

(184,773

)

(13,341

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(17,522

)

7,891

9.	RELATED PARTY DISCLOSURES

During the year the company was charged £85,250 (2022 - £71,500) for rental and franchise fees by the shareholders of the company and close family of the director. These transactions were carried out on an arm's length basis.

No other transactions with related parties were undertaken such as are required to be disclosed under Section 1A Small Entities of Financial Reporting Standard 102.