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REGISTERED NUMBER: 08307376 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

ROCKETMAKERS LIMITED

ROCKETMAKERS LIMITED (REGISTERED NUMBER: 08307376)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


ROCKETMAKERS LIMITED

Company Information
for the year ended 31 May 2023







DIRECTORS: R J Godfrey
K G Walker





REGISTERED OFFICE: 20 Manvers Street
Bath
Somerset
BA1 1JW





REGISTERED NUMBER: 08307376 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Rocketmakers Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rocketmakers Limited for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rocketmakers Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rocketmakers Limited and state those matters that we have agreed to state to the Board of Directors of Rocketmakers Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rocketmakers Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rocketmakers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Rocketmakers Limited. You consider that Rocketmakers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rocketmakers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


22 February 2024

ROCKETMAKERS LIMITED (REGISTERED NUMBER: 08307376)

Balance Sheet
31 May 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 888,976 745,044
Tangible assets 5 131,119 173,480
1,020,095 918,524

CURRENT ASSETS
Debtors 6 1,075,327 1,077,506
Cash at bank and in hand 319,157 918,473
1,394,484 1,995,979
CREDITORS
Amounts falling due within one year 7 341,203 470,526
NET CURRENT ASSETS 1,053,281 1,525,453
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,073,376

2,443,977

CREDITORS
Amounts falling due after more than one
year

8

(2,974

)

(72,943

)

PROVISIONS FOR LIABILITIES 9 (2,372 ) (36,656 )
NET ASSETS 2,068,030 2,334,378

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 2,068,028 2,334,376
SHAREHOLDERS' FUNDS 2,068,030 2,334,378

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ROCKETMAKERS LIMITED (REGISTERED NUMBER: 08307376)

Balance Sheet - continued
31 May 2023


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 21 February 2024 and were signed on its behalf by:




K G Walker - Director



R J Godfrey - Director


ROCKETMAKERS LIMITED (REGISTERED NUMBER: 08307376)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Rocketmakers 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.

2. ACCOUNTING POLICIES

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

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

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

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

Development costs are not amortised until they have started to generate income after which they will be amortised over their estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 25% on cost and in accordance with the property lease
Motor vehicles - 20% on cost
Computer and office equipmt - Straight line over 18 months and 25% on cost

Government grants
A government grant is recognised only when there is a reasonable assurance that the company will comply with any conditions attached to the grant and the grant will be received.

The grant is recognised as income over the period necessary to match it with the related costs, for which is it intended to compensate on a systematic basis.

ROCKETMAKERS LIMITED (REGISTERED NUMBER: 08307376)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Research and development
Development expenditure is being capitalised in the year in which it is incurred.

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.

Hire purchase and leasing policy
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
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.

ROCKETMAKERS LIMITED (REGISTERED NUMBER: 08307376)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2022 - 52 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022 745,044
Additions 143,932
At 31 May 2023 888,976
NET BOOK VALUE
At 31 May 2023 888,976
At 31 May 2022 745,044

5. TANGIBLE FIXED ASSETS
Computer
and
Long Motor office
leasehold vehicles equipmt Totals
£    £    £    £   
COST
At 1 June 2022 278,799 181,453 213,191 673,443
Additions 21,561 - 30,558 52,119
Disposals (233,087 ) - (14,891 ) (247,978 )
At 31 May 2023 67,273 181,453 228,858 477,584
DEPRECIATION
At 1 June 2022 260,332 108,872 130,759 499,963
Charge for year 5,656 36,291 35,880 77,827
Eliminated on disposal (217,854 ) - (13,471 ) (231,325 )
At 31 May 2023 48,134 145,163 153,168 346,465
NET BOOK VALUE
At 31 May 2023 19,139 36,290 75,690 131,119
At 31 May 2022 18,467 72,581 82,432 173,480

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 726,612 972,937
Other debtors 348,715 104,569
1,075,327 1,077,506

ROCKETMAKERS LIMITED (REGISTERED NUMBER: 08307376)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 32,906 60,000
Hire purchase contracts 34,774 33,150
Trade creditors 7,705 14,371
Amounts owed to group undertakings 42,477 35,904
Taxation and social security 122,230 240,022
Other creditors 101,111 87,079
341,203 470,526

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Bank loans - 35,195
Hire purchase contracts 2,974 37,748
2,974 72,943

9. PROVISIONS FOR LIABILITIES
2023 2022
as restated
£    £   
Deferred tax 2,372 36,656

Deferred
tax
£   
Balance at 1 June 2022 36,656
Accelerated capital allowances (10,420 )
Notional tax credit on RDEC (23,864 )
Balance at 31 May 2023 2,372

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as
restated
£    £   
2 Ordinary £1 2 2

11. CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES

The directors have assessed the capitalisation for development costs and the bad debt provision and are satisfied that they are appropriate. No other significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

ROCKETMAKERS LIMITED (REGISTERED NUMBER: 08307376)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

12. PARENT COMPANY

The parent company is iPrinciples Limited.