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Company No: 03119082 (England and Wales)

RUBYCON SYSTEMS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

RUBYCON SYSTEMS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

RUBYCON SYSTEMS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
RUBYCON SYSTEMS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTOR C Mustafa
SECRETARY C Mustafa
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 03119082 (England and Wales)
ACCOUNTANT Gravita II LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
RUBYCON SYSTEMS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
RUBYCON SYSTEMS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 0 15
Investment property 4 300,000 300,000
300,000 300,015
Current assets
Debtors 5 669 640
Cash at bank and in hand 94,614 100,061
95,283 100,701
Creditors: amounts falling due within one year 6 ( 35,251) ( 35,129)
Net current assets 60,032 65,572
Total assets less current liabilities 360,032 365,587
Provision for liabilities 7 ( 47,954) ( 47,954)
Net assets 312,078 317,633
Capital and reserves
Called-up share capital 8 4 4
Other reserves 184,716 184,716
Profit and loss account 127,358 132,913
Total shareholder's funds 312,078 317,633

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Rubycon Systems Limited (registered number: 03119082) were approved and authorised for issue by the Director on 28 July 2025. They were signed on its behalf by:

C Mustafa
Director
RUBYCON SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
RUBYCON SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rubycon Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in {#profit} or {#loss}, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 1,294 1,294
At 31 October 2024 1,294 1,294
Accumulated depreciation
At 01 November 2023 1,279 1,279
Charge for the financial year 15 15
At 31 October 2024 1,294 1,294
Net book value
At 31 October 2024 0 0
At 31 October 2023 15 15

4. Investment property

Investment property
£
Valuation
As at 01 November 2023 300,000
As at 31 October 2024 300,000

The fair value of investment properties at the reporting date was based on a valuation carried out by the directors. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location, together with a review of property rental yields. No depreciation is provided in respect of these properties.

5. Debtors

2024 2023
£ £
Other debtors 669 640

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 35,251 35,129

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 47,954) ( 47,954)
At the end of financial year ( 47,954) ( 47,954)

There were no deferred tax movements in the year.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
4 Ordinary shares of £ 1.00 each 4 4

There is a single class of Ordinary shares. There are no restrictions on the distribution of dividends and repayment of capital.

9. Reserves

Other reserve

Other reserves relates to undistributable reserves arising from revaluation of investment property less deferred tax.

Profit and loss reserves

Retained earnings represents accumulated comprehensive income for the year and prior periods less dividends paid.