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COMPANY REGISTRATION NUMBER: 10004068
Rockmore Limited
Filleted Unaudited Financial Statements
28 February 2023
Rockmore Limited
Financial Statements
Year ended 28 February 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Rockmore Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
841
1,915
Current assets
Debtors
6
71,485
45,717
Cash at bank and in hand
6,691
--------
--------
71,485
52,408
Creditors: amounts falling due within one year
7
48,465
39,056
--------
--------
Net current assets
23,020
13,352
--------
--------
Total assets less current liabilities
23,861
15,267
Creditors: amounts falling due after more than one year
8
13,049
15,053
--------
--------
Net assets
10,812
214
--------
--------
Capital and reserves
Called up share capital
10
10
Profit and loss account
10,802
204
--------
----
Shareholders funds
10,812
214
--------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Rockmore Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 11 March 2024 , and are signed on behalf of the board by:
Mr M E Castle
Director
Company registration number: 10004068
Rockmore Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of services is recognised when the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, the stage of completion can be measured reliably, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue is recognised by reference to the stage of completion.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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. 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 March 2022 and 28 February 2023
9,543
9,543
-------
-------
Depreciation
At 1 March 2022
7,628
7,628
Charge for the year
1,074
1,074
-------
-------
At 28 February 2023
8,702
8,702
-------
-------
Carrying amount
At 28 February 2023
841
841
-------
-------
At 28 February 2022
1,915
1,915
-------
-------
6. Debtors
2023
2022
£
£
Trade debtors
36,433
5,885
Other debtors
35,052
39,832
--------
--------
71,485
45,717
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,936
5,196
Trade creditors
5,337
8,344
Corporation tax
16,261
24,008
Social security and other taxes
14,431
8
Other creditors
1,500
1,500
--------
--------
48,465
39,056
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
13,049
15,053
--------
--------
9. Director's advances, credits and guarantees
At the year end the director owed the company £13,255 (2022: £20,350).During the year advances of £13,903 were made to the director and repayments of £21,348. Interest of £749 was charged on this balance at a rate of 2.5% per annum.