Rubex UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07136505 (England and Wales)

Financial Statements for the Year Ended 31 January 2018

for

Rubex UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R 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

16,258

15,214

CURRENT ASSETS

Stocks

102,195

93,409

Debtors

5

601

11,977

Cash at bank and in hand

69,172

62,690

171,968

168,076

CREDITORS

Amounts falling due within one year

6

44,144

47,854

NET CURRENT ASSETS

127,824

120,222

TOTAL ASSETS LESS CURRENT LIABILITIES

144,082

135,436

PROVISIONS FOR LIABILITIES

3,115

3,043

NET ASSETS

140,967

132,393

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

7

140,865

132,291

SHAREHOLDERS' FUNDS

140,967

132,393

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 26 July 2018 and were signed by:

R 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 15 (2017 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2017

29,961

5,400

1,666

37,027

Additions

6,171

-

292

6,463

At 31 January 2018

36,132

5,400

1,958

43,490

DEPRECIATION

At 1 February 2017

16,839

4,119

855

21,813

Charge for year

4,823

320

276

5,419

At 31 January 2018

21,662

4,439

1,131

27,232

NET BOOK VALUE

At 31 January 2018

14,470

961

827

16,258

At 31 January 2017

13,122

1,281

811

15,214

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Other debtors

601

11,977

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade creditors

5,838

5,055

Taxation and social security

23,640

30,258

Other creditors

14,666

12,541

44,144

47,854

7.

RESERVES

Retained

earnings

£

At 1 February 2017

132,291

Profit for the year

88,574

Dividends

(80,000

)

At 31 January 2018

140,865

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 (2017 - £60,000) were paid to the director .

Included in other creditors is £8,441 (2017 - £2,674) which is owed to Mr R Latif, the director and a

shareholder of the company. This loan is provided on an interest free basis and is repayable on demand.

During the year the company was charged £67,600 (2017 - £67,600) for rental and franchise fees by H H M

Dimetry and M Guirgis, 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.