Registered number
11552736
Rock Salt 23 Limited
Filleted Accounts
31 March 2023
Rock Salt 23 Limited
Registered number: 11552736
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 88,472 89,217
Current assets
Debtors 4 220,000 220,000
Cash at bank and in hand 20,618 70,178
240,618 290,178
Creditors: amounts falling due within one year 5 (245,036) (245,931)
Net current (liabilities)/assets (4,418) 44,247
Total assets less current liabilities 84,054 133,464
Creditors: amounts falling due after more than one year 6 (31,411) (42,059)
Provisions for liabilities (6,618) (5,627)
Net assets 46,025 85,778
Capital and reserves
Called up share capital 100 100
Profit and loss account 45,925 85,678
Shareholders' funds 46,025 85,778
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
A W Peters
Director
Approved by the board on 1 December 2023
Rock Salt 23 Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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:
Leasehold Property 10% RBM
Fixtures, fittings, tools and equipment 25% RBM
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 18
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 101,132 47,731 - 148,863
Additions - 6,031 8,800 14,831
At 31 March 2023 101,132 53,762 8,800 163,694
Depreciation
At 1 April 2022 41,533 18,113 - 59,646
Charge for the year 5,960 8,127 1,489 15,576
At 31 March 2023 47,493 26,240 1,489 75,222
Net book value
At 31 March 2023 53,639 27,522 7,311 88,472
At 31 March 2022 59,599 29,618 - 89,217
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 220,000 220,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 16,611 4,860
Amounts owed to group undertakings and undertakings in which the company has a participating interest 173,000 -
Taxation and social security costs 7,605 22,910
Other creditors 47,820 218,161
245,036 245,931
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 31,411 42,059
7 Other information
Rock Salt 23 Limited is a private company limited by shares and incorporated in England. Its registered office is:
Building 18, Gateway 1000
Whittle Way, Arlington Business Park
Stevenage
Hertfordshire
SG1 2FP
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