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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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RUBY MANE LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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RUBY MANE LTD |
RUBY MANE LTD (REGISTERED NUMBER: 06396589) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2017 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 7 |
RUBY MANE LTD |
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COMPANY INFORMATION |
For The Year Ended 31 March 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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RUBY MANE LTD (REGISTERED NUMBER: 06396589) |
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ABRIDGED BALANCE SHEET |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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. |
RUBY MANE LTD (REGISTERED NUMBER: 06396589) |
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ABRIDGED BALANCE SHEET - continued |
31 March 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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RUBY MANE LTD (REGISTERED NUMBER: 06396589) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Ruby Mane Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis, which the directors consider to be |
appropriate, as they have agreed not to withdraw their loan accounts and to provide the necessary finance to |
enable the company to meet its liabilities as they fall due. |
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Turnover |
The turnover shown in the profit and loss account represents amounts receivable for products and services |
provided during the year in the normal course of business, net of trade discounts, VAT and other sales and |
related taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Office equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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Current taxation assets and liabilities are not discounted. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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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. |
RUBY MANE LTD (REGISTERED NUMBER: 06396589) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2017 |
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3. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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4. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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5. | PENSION COMMITMENTS |
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The company makes contributions into a defined contribution scheme. The assets of the scheme are held |
separately from those of the company in independent funds. The pension scheme cost represents contributions |
payable by the company into the funds and amounted to £1,089 for the year ended 31 March 2017 (2016 - £nil). |
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As at 31 March 2017, creditors included £211 (2016 - £nil) in respect of unpaid pension contributions, of which |
£117 (2016 - £nil) related to employers contributions. |
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6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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As at 31 March 2017, J M Salvage had loaned the company £206,115 (2016 - £233,421). There was no interest |
due on the loan and the amount due is repayable upon demand. The amount due is included within Directors' |
current accounts due after more than one year. |
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The loan is repayable upon demand however J M Salvage has agreed not to request the secured liabilities for a |
period of twelve months from the date of approval of the balance sheet in order to support the company's |
continued operation on a going concern basis. The amounts due are therefore included within Directors' current |
accounts due after more than one year. |
RUBY MANE LTD (REGISTERED NUMBER: 06396589) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2017 |
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7. | TRANSITION TO FRS 102 |
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This is the first year that the company has presented its results in accordance with the provisions of Section 1A of |
Financial Reporting Standard 102. The last financial statements under previous UK GAAP were for the year |
ended 31 March 2016 and the date of transition to FRS 102 section 1A was 1 April 2015. |
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As a result of the change to new UK GAAP, we are required to prepare a reconciliation of the profit for the |
financial year ended 31 March 2017 and the total equity as at 1 April 2016 and 31 March 2017 between UK |
GAAP as previously reported under FRS Section 1A, in these financial statements. |
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Presentation of the results for the comparative year In accordance with Section 1A of FRS 102 has not resulted in |
any change to the results compared to those prepared under previous UK GAAP. Therefore it has not been |
necessary to present a reconciliation of movements in equity in these accounts. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
RUBY MANE LTD |
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The following reproduces the text of the report prepared for the directors and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Ruby Mane Ltd for the year ended 31 March 2017 which comprise the Income Statement, |
Abridged Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Ruby Mane Ltd, as a body, in accordance with the terms of our engagement letter dated 11 May 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Ruby Mane Ltd and state those matters that we have agreed to state to the Board of Directors of Ruby Mane Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ruby Mane Ltd Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Ruby Mane Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ruby Mane Ltd. You consider that Ruby Mane Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Ruby Mane Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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1 Bramley Business Centre |
Station Road |
Bramley |
Surrey |
GU5 0AZ |
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