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Registration number: 06851504

Rockscape Energy Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Rockscape Energy Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Rockscape Energy Ltd

Company Information

Directors

Mr T R Bletcher

Mrs R H Bletcher

Mr R Hewson

Registered office

North Moor Farm
Crowle
North Lincolnshire
DN17 4DA

Accountants

Wright Vigar Ltd
Office 1 Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

 

Rockscape Energy Ltd

(Registration number: 06851504)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

10,301,158

10,159,109

Current assets

 

Stocks

6

1,654,812

952,392

Debtors

7

2,329,530

1,916,488

Cash at bank and in hand

 

571,490

772,249

 

4,555,832

3,641,129

Creditors: Amounts falling due within one year

8

(2,407,001)

(2,500,505)

Net current assets

 

2,148,831

1,140,624

Total assets less current liabilities

 

12,449,989

11,299,733

Creditors: Amounts falling due after more than one year

8

(9,041,667)

(10,441,667)

Provisions for liabilities

(1,458,869)

(614,377)

Net assets

 

1,949,453

243,689

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

1,949,451

243,687

Shareholders' funds

 

1,949,453

243,689

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 23 February 2024 and signed on its behalf by:
 

.........................................
Mr T R Bletcher
Director

 

Rockscape Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
North Moor Farm
Crowle
North Lincolnshire
DN17 4DA
England

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Rockscape Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

4% on cost and 33% on cost

Other tangible assets

4% on cost, 20% on cost and 15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 6).

 

Rockscape Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

588,372

574,002

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

307,092

13,591,299

13,898,391

Additions

929

731,887

732,816

Disposals

-

(2,395)

(2,395)

At 30 June 2023

308,021

14,320,791

14,628,812

Depreciation

At 1 July 2022

138,685

3,600,597

3,739,282

Charge for the year

13,012

575,360

588,372

At 30 June 2023

151,697

4,175,957

4,327,654

Carrying amount

At 30 June 2023

156,324

10,144,834

10,301,158

At 30 June 2022

168,407

9,990,702

10,159,109

6

Stocks

2023
£

2022
£

Raw materials and consumables

1,654,812

952,392

7

Debtors

Current

2023
£

2022
£

Trade debtors

30,032

29,411

Prepayments

2,041,594

1,791,511

Other debtors

257,904

95,566

 

2,329,530

1,916,488

 

Rockscape Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

-

21,266

Trade creditors

 

819,667

892,680

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

1,358

Taxation and social security

 

9,335

7,440

Accruals and deferred income

 

76,361

76,712

Other creditors

 

1,501,638

1,501,049

 

2,407,001

2,500,505

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £0 (2022 - £21,266).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

9,041,667

10,441,667

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

Rockscape Energy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

9,041,667

10,441,667

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

-

21,266