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REGISTERED NUMBER: 04122797 (England and Wales)


















Financial Statements

for the Year Ended 31st December 2023

for

Robocoaster Limited

Robocoaster Limited (Registered number: 04122797)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Robocoaster Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: T J Monkton
A W Roberts
B P Daniels





REGISTERED OFFICE: 37 Second Avenue
The Pensnett Trading Estate
Kingswinford
West Midlands
DY6 7UL





REGISTERED NUMBER: 04122797 (England and Wales)





AUDITORS: Rice & Co Limited
Chartered Accountants
Statutory Auditors
14a Market Place
Uttoxeter
Staffordshire
ST14 8HP

Robocoaster Limited (Registered number: 04122797)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1,643,221 1,643,221
Tangible assets 6 - -
1,643,221 1,643,221

CURRENT ASSETS
Debtors 7 255,828 223,950
Cash at bank 5,583 5,864
261,411 229,814
CREDITORS
Amounts falling due within one year 8 1,583,869 1,682,029
NET CURRENT LIABILITIES (1,322,458 ) (1,452,215 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

320,763

191,006

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 320,761 191,004
320,763 191,006

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 6th August 2024 and were signed on its behalf by:





B P Daniels - Director


Robocoaster Limited (Registered number: 04122797)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Robocoaster 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The directors have prepared cash flow forecasts up to December 2025, which indicate that the company will have sufficient liquidity to meet it's working capital requirements for a period of at least 12 months from the date of signing these financial statements. These forecasts have been prepared to reflect the current order book of other group companies and the promising signs for 2024 and beyond The key assumptions in the forecast are in respect of the stability of income and the continued financial support of the other group companies. The company has received confirmation from these group companies regarding their intentions to not recall the amounts owing to it as well as to provide additional funding to the company in the event that such funding is required.

The ability to honour this support depends on the financial position of Simworx Limited, a fellow group company. The return to 'normality' within the theme park Industry following the pandemic and economic impact of the Ukraine crisis 2020-2022 has continued into 2024 with investment into new attractions at pre-pandemic levels. 2024 began with a strong order book from secured sales of its major products including Flying Theatre, AGV Dark Ride, Metro of Time and Immersive Tunnel to a number of overseas clients. The order book has been further bolstered with new contracts from new and existing overseas customers. There is confidence in the pipeline of opportunities with a number of prospects at the contract stage.

The directors of the company have reviewed the overall position and outlook in respect of these matters and are of the opinion that on the basis of the confirmation of support received together with the forecasts prepared, they are satisfied that the going concern basis is appropriate.

These financial statements do not include adjustments relating to the recoverability and classification of recorded asset amounts or to the amounts and classification of liabilities that might be necessary should the company not continue as a going concern.

Turnover
Turnover represents licence fees receivable for the right to use the company's products, excluding value added tax. Turnover is recognised when a stage, as specified in the contract, has been completed.

Robocoaster Limited (Registered number: 04122797)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

3. ACCOUNTING POLICIES - continued

Development costs
Expenditure incurred on new products and improvements to the company's products is capitalised in the balance sheet as development costs and amortised over its estimated useful life. Amortisation will commence with the commercial introduction of the new product or incorporation of the improvement into the product.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 2 - 5 years
Office equipment - Straight line over 2 - 4 years

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

Robocoaster Limited (Registered number: 04122797)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

5. INTANGIBLE FIXED ASSETS
Development
costs Patents Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 1,643,221 227,331 1,870,552
AMORTISATION
At 1st January 2023
and 31st December 2023 - 227,331 227,331
NET BOOK VALUE
At 31st December 2023 1,643,221 - 1,643,221
At 31st December 2022 1,643,221 - 1,643,221

6. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 15,000 30,276 45,276
DEPRECIATION
At 1st January 2023
and 31st December 2023 15,000 30,276 45,276
NET BOOK VALUE
At 31st December 2023 - - -
At 31st December 2022 - - -


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 15,527
Amounts owed by group undertakings 205,380 205,380
Other debtors 50,448 3,043
255,828 223,950

Robocoaster Limited (Registered number: 04122797)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,026 27,508
Amounts owed to group undertakings 1,568,884 1,619,422
Taxation and social security 662 11,951
Other creditors 10,297 23,148
1,583,869 1,682,029

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

The Report of the Auditors was unqualified.

Matthew Gibbs FCA (Senior Statutory Auditor)
for and on behalf of Rice & Co Limited

10. CONTINGENT LIABILITIES

The company has provided guarantees over creditors of Media Based Attractions Limited, the company's parent undertaking, amounting to £2,666,000 (2022 - £1,666,000) and creditors of Simworx Limited, a fellow subsidiary undertaking of Media Based Attractions Limited, amounting to £297,140 (2022 - £794,814).

11. PARENT AND ULTIMATE PARENT COMPANY

The company's parent and ultimate parent undertaking is Media Based Attractions Limited, a company registered in England and Wales. Consolidated financial statements are prepared for the group controlled by Media Based Attractions Limited and that company's registered office is 37 Second Avenue, The Pensnett Estate, Kingswinford, West Midlands DY6 7UL.