IRIS Accounts Production v24.3.2.46 03163234 Board of Directors 1.11.23 31.10.24 31.10.24 Medium entities the operation of amusement arcades. true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. A Ordinary 1.00000 D Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh031632342023-10-31031632342024-10-31031632342023-11-012024-10-31031632342022-10-31031632342022-11-012023-10-31031632342023-10-3103163234ns15:EnglandWales2023-11-012024-10-3103163234ns14:PoundSterling2023-11-012024-10-3103163234ns10:Director12023-11-012024-10-3103163234ns10:Director22023-11-012024-10-3103163234ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3103163234ns10:MediumEntities2023-11-012024-10-3103163234ns10:Audited2023-11-012024-10-3103163234ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-11-012024-10-3103163234ns10:Medium-sizedCompaniesRegimeForAccounts2023-11-012024-10-3103163234ns10:FullAccounts2023-11-012024-10-310316323412023-11-012024-10-3103163234ns10:OrdinaryShareClass12023-11-012024-10-3103163234ns10:OrdinaryShareClass32023-11-012024-10-3103163234ns10:CompanySecretary12023-11-012024-10-3103163234ns10:RegisteredOffice2023-11-012024-10-3103163234ns5:CurrentFinancialInstruments2024-10-3103163234ns5:CurrentFinancialInstruments2023-10-3103163234ns5:Non-currentFinancialInstruments2024-10-3103163234ns5:Non-currentFinancialInstruments2023-10-3103163234ns5:ShareCapital2024-10-3103163234ns5:ShareCapital2023-10-3103163234ns5:SharePremium2024-10-3103163234ns5:SharePremium2023-10-3103163234ns5:CapitalRedemptionReserve2024-10-3103163234ns5:CapitalRedemptionReserve2023-10-3103163234ns5:RetainedEarningsAccumulatedLosses2024-10-3103163234ns5:RetainedEarningsAccumulatedLosses2023-10-3103163234ns5:ShareCapital2022-10-3103163234ns5:RetainedEarningsAccumulatedLosses2022-10-3103163234ns5:SharePremium2022-10-3103163234ns5:CapitalRedemptionReserve2022-10-3103163234ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-3103163234ns5:CapitalRedemptionReserve2022-11-012023-10-3103163234ns5:RetainedEarningsAccumulatedLosses2023-11-012024-10-3103163234ns5:CapitalRedemptionReserve2023-11-012024-10-3103163234ns5:NetGoodwill2023-11-012024-10-3103163234ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3103163234ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-11-012024-10-3103163234ns5:LandBuildingsns5:ShortLeaseholdAssets2023-11-012024-10-3103163234ns5:LongLeaseholdAssetsns5:LandBuildings2023-11-012024-10-3103163234ns5:PlantMachinery2023-11-012024-10-3103163234ns5:FurnitureFittings2023-11-012024-10-3103163234ns5:MotorVehicles2023-11-012024-10-3103163234ns5:OwnedAssets2023-11-012024-10-3103163234ns5:OwnedAssets2022-11-012023-10-3103163234ns5:LeasedAssets2023-11-012024-10-3103163234ns5:LeasedAssets2022-11-012023-10-3103163234ns5:NetGoodwill2022-11-012023-10-3103163234ns5:HirePurchaseContracts2023-11-012024-10-3103163234ns5:HirePurchaseContracts2022-11-012023-10-3103163234ns10:OrdinaryShareClass12022-11-012023-10-3103163234ns5:NetGoodwill2023-10-3103163234ns5:NetGoodwill2024-10-3103163234ns5:NetGoodwill2023-10-3103163234ns5:LandBuildings2023-10-3103163234ns5:LandBuildingsns5:ShortLeaseholdAssets2023-10-3103163234ns5:LongLeaseholdAssetsns5:LandBuildings2023-10-3103163234ns5:LandBuildings2023-11-012024-10-3103163234ns5:LandBuildings2024-10-3103163234ns5:LandBuildingsns5:ShortLeaseholdAssets2024-10-3103163234ns5:LongLeaseholdAssetsns5:LandBuildings2024-10-3103163234ns5:LandBuildings2023-10-3103163234ns5:LandBuildingsns5:ShortLeaseholdAssets2023-10-3103163234ns5:LongLeaseholdAssetsns5:LandBuildings2023-10-3103163234ns5:PlantMachinery2023-10-3103163234ns5:FurnitureFittings2023-10-3103163234ns5:MotorVehicles2023-10-3103163234ns5:PlantMachinery2024-10-3103163234ns5:FurnitureFittings2024-10-3103163234ns5:MotorVehicles2024-10-3103163234ns5:PlantMachinery2023-10-3103163234ns5:FurnitureFittings2023-10-3103163234ns5:MotorVehicles2023-10-3103163234ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3103163234ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-11-012024-10-3103163234ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-10-3103163234ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3103163234ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3103163234ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3103163234ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-10-3103163234ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-10-3103163234ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-10-3103163234ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-10-3103163234ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-10-3103163234ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-10-3103163234ns5:HirePurchaseContracts2024-10-3103163234ns5:HirePurchaseContracts2023-10-3103163234ns5:WithinOneYear2024-10-3103163234ns5:WithinOneYear2023-10-3103163234ns5:BetweenOneFiveYears2024-10-3103163234ns5:BetweenOneFiveYears2023-10-3103163234ns5:MoreThanFiveYears2024-10-3103163234ns5:MoreThanFiveYears2023-10-3103163234ns5:AllPeriods2024-10-3103163234ns5:AllPeriods2023-10-3103163234ns5:Secured2024-10-3103163234ns5:Secured2023-10-3103163234ns5:DeferredTaxation2023-10-3103163234ns5:DeferredTaxation2023-11-012024-10-3103163234ns5:DeferredTaxation2024-10-3103163234ns10:OrdinaryShareClass12024-10-3103163234ns10:OrdinaryShareClass32024-10-3103163234ns5:RetainedEarningsAccumulatedLosses2023-10-3103163234ns5:SharePremium2023-10-3103163234ns5:CapitalRedemptionReserve2023-10-31
REGISTERED NUMBER: 03163234 (England and Wales)













Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 October 2024

for

Rubicon Pastimes Limited

Rubicon Pastimes Limited (Registered number: 03163234)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 14


Rubicon Pastimes Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: S L Nichols
Mrs H Nichols



SECRETARY: Mrs H Nichols



REGISTERED OFFICE: 12-14 The Front
Seaton Carew
Hartlepool
TS25 1BS



REGISTERED NUMBER: 03163234 (England and Wales)



AUDITORS: Anderson Barrowcliff Limited
Statutory Auditors
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX



SOLICITORS: Tilly, Bailey & Irvine
Solicitors & Notaries
York Chambers
York Road
Hartlepool
TS26 9DP

Rubicon Pastimes Limited (Registered number: 03163234)

Strategic Report
for the Year Ended 31 October 2024

The directors present their strategic report for the year ended 31 October 2024.

The principal activity of the company during the year was that of operating amusement arcades.

REVIEW OF BUSINESS
Turnover has increased this year to £7,842,264 (2023: £7,315,451) and the company has made a pre-tax profit of £799,071 (2023: £1,119,909). Net assets have also increased to £5,198,198 (2023: £4,960,142).

The company has maintained strong turnover figures despite the poor weather during the year. Visitor numbers improved during the summer holidays which is a key part of the year.

The profitability has been impacted by increasing costs and in particular labour costs which continue to rise annually in line with the national minimum wage increases.

The company continues to reinvest profits into our core areas to maintain market share in a competitive seaside economy.

KEY PERFORMANCE INDICATORS
The company's most important indicators remain turnover and profitability of each individual department within the business. Staff retention is now firmly established as a crucial indicator.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties facing the company and how they may affect its performance, position or future prospects are set out below:

Financial risk management
In common with other businesses, the company aims to minimize financial risk wherever possible. The measures used include regular monitoring of actual performance and ensuring adequate sources of finance are in place to meet the requirement of the business.

The company's principal financial instruments comprise bank balances, loans, trade creditors and trade debtors to raise funds for, and finance, the company's operations.

Credit risk
The company has policies concerning credit offered to customers and regularly monitor amounts outstanding for both time and credit limit.

Liquidity risk
Through negotiation with clients and suppliers we aim to manage our working capital and cash availability within certain limits.

ON BEHALF OF THE BOARD:





Mrs H Nichols - Director


9 April 2025

Rubicon Pastimes Limited (Registered number: 03163234)

Report of the Directors
for the Year Ended 31 October 2024

The directors present their report with the financial statements of the company for the year ended 31 October 2024.

DIVIDENDS
A dividend of £1.63551 per share were paid on the A Ordinary £1 shares during the year. No dividends were paid on any other classes of shares.

The total distribution of dividends for the year ended 31 October 2024 will be £350,000 (2023: £350,000).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

S L Nichols
Mrs H Nichols

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mrs H Nichols - Director


9 April 2025

Report of the Independent Auditors to the Members of
Rubicon Pastimes Limited

Opinion
We have audited the financial statements of Rubicon Pastimes Limited (the 'company') for the year ended 31 October 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 October 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Rubicon Pastimes Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the industry, we have considered applicable laws and regulations which may be fundamental to the company's ability to operate or to avoid a material penalty, and we considered the extent to which non-compliance might have a material effect on the financial statements. We considered management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate manual journal entries to manipulate financial performance, management bias in significant accounting estimates and any significant one-off or unusual transactions.

We discussed among the audit engagement team the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.


Report of the Independent Auditors to the Members of
Rubicon Pastimes Limited


Auditors' responsibilities for the audit of the financial statements (continued)
Audit procedures performed by the engagement team included:

- Enquiry of management, those charged with governance and the entity's solicitors around actual and potential
litigation and claims.
- Enquiry of entity staff to identify any instances of non-compliance with laws and regulations.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations.
- Auditing the risk of management override of controls, including through testing journal entries and other
adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the
normal course of business.
-
-
Challenging estimates and judgements made by management in their significant accounting estimates.Revenue
recognition; agreeing a sample of revenue transactions to gain assurance over the occurrence and accuracy of
revenue and also to ensure revenue has been recognised in the correct period.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Helen Wilson FCA (Senior Statutory Auditor)
for and on behalf of Anderson Barrowcliff Limited
Statutory Auditors
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

9 April 2025

Rubicon Pastimes Limited (Registered number: 03163234)

Income Statement
for the Year Ended 31 October 2024

2024 2023
Notes £    £    £    £   

TURNOVER 2 7,842,264 7,315,451

Cost of sales 4,841,420 4,270,173
GROSS PROFIT 3,000,844 3,045,278

Administrative expenses 2,239,989 1,962,506
760,855 1,082,772

Other operating income 8,356 11,933
OPERATING PROFIT 4 769,211 1,094,705

Income from fixed asset investments 44 91
Interest receivable and similar income 44,729 49,151
44,773 49,242
813,984 1,143,947

Interest payable and similar expenses 5 14,913 24,038
PROFIT BEFORE TAXATION 799,071 1,119,909

Tax on profit 6 211,015 280,930
PROFIT FOR THE FINANCIAL YEAR 588,056 838,979

Rubicon Pastimes Limited (Registered number: 03163234)

Other Comprehensive Income
for the Year Ended 31 October 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 588,056 838,979


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

588,056

838,979

Rubicon Pastimes Limited (Registered number: 03163234)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 102,811 118,423
Tangible assets 9 5,358,151 4,788,354
5,460,962 4,906,777

CURRENT ASSETS
Stocks 10 121,446 155,332
Debtors 11 141,919 128,343
Investments 12 251 207
Cash at bank and in hand 1,569,017 1,801,736
1,832,633 2,085,618
CREDITORS
Amounts falling due within one year 13 1,323,029 1,227,112
NET CURRENT ASSETS 509,604 858,506
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,970,566

5,765,283

CREDITORS
Amounts falling due after more than one
year

14

(96,068

)

(140,941

)

PROVISIONS FOR LIABILITIES 18 (676,300 ) (664,200 )
NET ASSETS 5,198,198 4,960,142

CAPITAL AND RESERVES
Called up share capital 19 289,000 289,000
Share premium 20 99,167 99,167
Capital redemption reserve 20 97,800 97,800
Retained earnings 20 4,712,231 4,474,175
SHAREHOLDERS' FUNDS 5,198,198 4,960,142

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:





S L Nichols - Director


Rubicon Pastimes Limited (Registered number: 03163234)

Statement of Changes in Equity
for the Year Ended 31 October 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 November 2022 289,000 3,985,196 99,167 97,800 4,471,163

Changes in equity
Dividends - (350,000 ) - - (350,000 )
Total comprehensive income - 838,979 - - 838,979
Balance at 31 October 2023 289,000 4,474,175 99,167 97,800 4,960,142

Changes in equity
Dividends - (350,000 ) - - (350,000 )
Total comprehensive income - 588,056 - - 588,056
Balance at 31 October 2024 289,000 4,712,231 99,167 97,800 5,198,198

Rubicon Pastimes Limited (Registered number: 03163234)

Cash Flow Statement
for the Year Ended 31 October 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,895,292 1,700,182
Interest paid (8,968 ) (24,038 )
Interest element of hire purchase payments
paid

(5,945

)

-
Tax paid (88,915 ) (296,480 )
Net cash from operating activities 1,791,464 1,379,664

Cash flows from investing activities
Purchase of tangible fixed assets (1,631,612 ) (1,302,230 )
Sale of tangible fixed assets 33,853 20,058
Interest received 44,729 49,151
Net cash from investing activities (1,553,030 ) (1,233,021 )

Cash flows from financing activities
Capital repayment of loans (177,177 ) (1,061,912 )
New hire purchase leases 111,387 112,464
Hire purchase capital repayments in year (53,316 ) -
Amount introduced by directors 350,000 350,000
Amount withdrawn by directors (352,047 ) (179,868 )
Equity dividends paid (350,000 ) (350,000 )
Net cash from financing activities (471,153 ) (1,129,316 )

Decrease in cash and cash equivalents (232,719 ) (982,673 )
Cash and cash equivalents at beginning of
year

2

1,801,736

2,784,409

Cash and cash equivalents at end of year 2 1,569,017 1,801,736

Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 799,071 1,119,909
Depreciation charges 897,437 701,013
Loss/(profit) on disposal of fixed assets 146,142 (5,792 )
Finance costs 14,913 24,038
Finance income (44,773 ) (49,242 )
1,812,790 1,789,926
Decrease/(increase) in stocks 33,886 (6,353 )
(Increase)/decrease in trade and other debtors (13,576 ) 4,295
Increase/(decrease) in trade and other creditors 62,192 (87,686 )
Cash generated from operations 1,895,292 1,700,182

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2024
31.10.24 1.11.23
£    £   
Cash and cash equivalents 1,569,017 1,801,736
Year ended 31 October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 1,801,736 2,784,409


Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.11.23 Cash flow At 31.10.24
£    £    £   
Net cash
Cash at bank and in hand 1,801,736 (232,719 ) 1,569,017
1,801,736 (232,719 ) 1,569,017

Liquid resources
Current asset investments 207 44 251
207 44 251
Debt
Finance leases (112,464 ) (58,071 ) (170,535 )
Debts falling due within 1 year (111,111 ) 111,111 -
Debts falling due after 1 year (66,065 ) 66,065 -
(289,640 ) 119,105 (170,535 )
Total 1,512,303 (113,570 ) 1,398,733

Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. ACCOUNTING POLICIES

General information and basis of preparing the financial statements
Rubicon Pastimes Limited is a private limited company incorporated in the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and its principal activity are set out in the Strategic Report on page 2.

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (FRS102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historic cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Goodwill
Acquired goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life, which is 20 years. Provision is made for any impairment.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Short leasehold - 10% on reducing balance
Long leasehold - Straight line over the life of the lease
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

1. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

Loans and Borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period of the revision, if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

The turnover for both the current and previous year was derived from the operation of amusement arcades.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,569,621 2,131,425
Social security costs 204,662 160,068
Other pension costs 35,769 32,072
2,810,052 2,323,565

The average number of employees during the year was as follows:
2024 2023

Manager 4 4
Other 97 94
101 98

2024 2023
£    £   
Directors' remuneration 171,017 186,091

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 244,325 225,950
Depreciation - owned assets 815,528 685,401
Depreciation - assets on hire purchase contracts 66,297 -
Loss/(profit) on disposal of fixed assets 146,141 (5,792 )
Goodwill amortisation 15,612 15,612
Auditors remuneration 8,500 7,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 8,968 24,038
Hire purchase 5,945 -
14,913 24,038

Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 200,000 90,000
UK corporation tax re prev year (1,085 ) 4,480
Total current tax 198,915 94,480

Deferred taxation 12,100 186,450
Tax on profit 211,015 280,930

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 799,071 1,119,909
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 22.520%)

199,768

252,204

Effects of:
Expenses not deductible for tax purposes 2,497 2,172
Depreciation in excess of capital allowances 8,153 34,971
Adjustments to tax charge in respect of previous periods (1,085 ) 4,480
Corporation tax overprovided 1,682 933
Capital allowances super-deduction - (13,830 )
Total tax charge 211,015 280,930

7. DIVIDENDS
2024 2023
£    £   
A Ordinary shares of £1 each
Interim 350,000 350,000

Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 465,471
AMORTISATION
At 1 November 2023 347,048
Amortisation for year 15,612
At 31 October 2024 362,660
NET BOOK VALUE
At 31 October 2024 102,811
At 31 October 2023 118,423

9. TANGIBLE FIXED ASSETS
Freehold Short Long
property leasehold leasehold
£    £    £   
COST
At 1 November 2023 80,796 1,453,893 1,650,334
Additions - 22,508 8,586
Disposals - - -
At 31 October 2024 80,796 1,476,401 1,658,920
DEPRECIATION
At 1 November 2023 37,176 932,624 301,067
Charge for year 1,616 54,379 24,260
Eliminated on disposal - - -
At 31 October 2024 38,792 987,003 325,327
NET BOOK VALUE
At 31 October 2024 42,004 489,398 1,333,593
At 31 October 2023 43,620 521,269 1,349,267

Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2023 7,641,401 2,665,470 337,788 13,829,682
Additions 487,333 966,335 146,850 1,631,612
Disposals (2,633,991 ) (1,640 ) (119,930 ) (2,755,561 )
At 31 October 2024 5,494,743 3,630,165 364,708 12,705,733
DEPRECIATION
At 1 November 2023 5,790,501 1,804,008 175,952 9,041,328
Charge for year 458,644 271,300 71,626 881,825
Eliminated on disposal (2,477,212 ) (527 ) (97,832 ) (2,575,571 )
At 31 October 2024 3,771,933 2,074,781 149,746 7,347,582
NET BOOK VALUE
At 31 October 2024 1,722,810 1,555,384 214,962 5,358,151
At 31 October 2023 1,850,900 861,462 161,836 4,788,354

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2023 118,336
Additions 146,850
At 31 October 2024 265,186
DEPRECIATION
Charge for year 66,297
At 31 October 2024 66,297
NET BOOK VALUE
At 31 October 2024 198,889
At 31 October 2023 118,336

10. STOCKS
2024 2023
£    £   
Stocks 121,446 155,332

Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,647 1,828
Prepayments 140,272 126,515
141,919 128,343

12. CURRENT ASSET INVESTMENTS

Current asset investments are held at market value of £251 (2023: £207).

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) - 111,111
Hire purchase contracts (see note 16) 74,467 37,588
Trade creditors 315,427 272,864
Taxation 200,000 90,000
Social security and other taxes 49,961 69,874
VAT 164,778 201,284
Other creditors 160,389 87,290
Directors' current accounts 282,908 284,955
Accrued expenses 75,099 72,146
1,323,029 1,227,112

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) - 66,065
Hire purchase contracts (see note 16) 96,068 74,876
96,068 140,941

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 year - 111,111

Amounts falling due between one and two years:
Bank loans - 1-2 years - 66,065

Bank loan 1 (CBILS) is repayable in monthly instalments of £9,259 (capital and interest) and is due to expire 27 May 2025. Interest is charged at a rate of 2.75% per annum above base rate. This was repaid in full on 5 September 2024.

Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 74,467 37,588
Between one and five years 96,068 74,876
170,535 112,464

Non-cancellable operating leases
2024 2023
£    £   
Within one year 243,875 243,875
Between one and five years 742,167 942,167
In more than five years 2,237,625 2,281,500
3,223,667 3,467,542

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 177,176
Hire purchase contracts 170,535 112,464
170,535 289,640

There is a debenture dated April 1996 giving fixed and floating charges over the company's assets.

Hire purchase liabilities are secured against the assets to which they relate.

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred taxation 676,300 664,200

Deferred
tax
£   
Balance at 1 November 2023 664,200
Provided during year 12,100
Balance at 31 October 2024 676,300

Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
214,000 A Ordinary £1 214,000 214,000
75,000 D Ordinary £1 75,000 75,000
289,000 289,000

The D shares only have a right to vote when certain resolutions are proposed relating to the share capital of the company and the winding-up of the company.

The D shares rank first for the return of capital on winding-up.

20. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 November 2023 4,474,175 99,167 97,800 4,671,142
Profit for the year 588,056 588,056
Dividends (350,000 ) (350,000 )
At 31 October 2024 4,712,231 99,167 97,800 4,909,198

Share premium account
The share premium account represents the premium arising on the issue of shares net of issue costs.

Capital redemption reserve
The capital redemption reserve represents the nominal value of shares purchased by the company.

Retained earnings
The retained earnings represents cumulative profits and losses net of dividends and other adjustments.

21. PENSION COMMITMENTS

The company operates a non contributory defined contribution pension scheme for certain of its staff. Contributions are charged to the profit and loss as they are paid. The charge for the year was £35,769 (2023: £32,072).

22. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 16,569 -

Rubicon Pastimes Limited (Registered number: 03163234)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

23. RELATED PARTY DISCLOSURES

The company rents premises from Rubicon Pastimes Limited Pension Scheme at market rates and during the year paid £200,000 (2023: £185,000).

During the year the company paid dividends to the directors of £350,000 (2023: £350,000).

Key management personnel of the entity
Key management personnel are the directors of the company. Details of remuneration is disclosed in note 3 to the financial statements.

24. CONTROL

Mr S L Nichols, a director, controls the company by virtue of a 100% holding of the issued A ordinary shares.