Registered number
13373612
Rock Property Solutions Ltd
Filleted Accounts
31 May 2023
Rock Property Solutions Ltd
Registered number: 13373612
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 27,838 37,117
Current assets
Debtors 4 1 1
Cash at bank and in hand 4,330 211
4,331 212
Creditors: amounts falling due within one year 5 (26,750) (43,572)
Net current liabilities (22,419) (43,360)
Net assets/(liabilities) 5,419 (6,243)
Capital and reserves
Called up share capital 1 1
Profit and loss account 5,418 (6,244)
Shareholder's funds 5,419 (6,243)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Chard Rock
Director
Approved by the board on 12 February 2024
Rock Property Solutions Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
These financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption is dependent upon the continued support from the company's shareholder. If the company were unable to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts and to provide for further liabilities that may arise.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Motor Vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 June 2022 49,490
At 31 May 2023 49,490
Depreciation
At 1 June 2022 12,373
Charge for the year 9,279
At 31 May 2023 21,652
Net book value
At 31 May 2023 27,838
At 31 May 2022 37,117
4 Debtors 2023 2022
£ £
Other debtors 1 1
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 120 1,449
Other creditors 26,630 42,123
26,750 43,572
6 Related party transactions
Other creditors include an amount of £24,950 (2022: £40,444) due to the director, Chad Rock. This amount is unsecured, interest free and repayable on demand.
7 Controlling party
The ultimate controlling party is Mr Chad Rock by virtue of his 100% shareholding in the company.
8 Other information
Rock Property Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Aquila Street
London NW8 6PN
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