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Registered number: 12244061
Rocket Holiday Camps Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
JOHN BIRD
Chartered Accountants
26 Brookfield Street
Syston
LEICESTER
LE7 2AD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12244061
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,036 2,911
4,036 2,911
CURRENT ASSETS
Debtors 5 3,337 3,573
Cash at bank and in hand 131,290 99,801
134,627 103,374
Creditors: Amounts Falling Due Within One Year 6 (39,660 ) (31,670 )
NET CURRENT ASSETS (LIABILITIES) 94,967 71,704
TOTAL ASSETS LESS CURRENT LIABILITIES 99,003 74,615
Creditors: Amounts Falling Due After More Than One Year 7 (8,638 ) (12,626 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (743 ) (402 )
NET ASSETS 89,622 61,587
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 89,522 61,487
SHAREHOLDERS' FUNDS 89,622 61,587
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Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S T Squires
Director
31/07/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Rocket Holiday Camps Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12244061 . The registered office is Oak Cottage, Green Lane, Ashley, Leicestershire, LE16 8HD. The financial statements are presented in Sterling which is the functional currency of the company.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance method
Computer Equipment 3 years straight line method
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.4. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Pensions
The company operates two defined pension contribution schemes. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the schemes.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 3)
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 2,736 1,634 4,370
Additions 490 2,328 2,818
As at 31 October 2023 3,226 3,962 7,188
Depreciation
As at 1 November 2022 702 757 1,459
Provided during the period 378 1,315 1,693
As at 31 October 2023 1,080 2,072 3,152
Net Book Value
As at 31 October 2023 2,146 1,890 4,036
As at 1 November 2022 2,034 877 2,911
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,374 1,890
Other debtors and prepayments (Debtors < 1 year) 963 1,683
3,337 3,573
Other debtors and prepayments include an amount of £7 (2022 - £45) falling due after more than one year.
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,380 1,327
Bank loans and overdrafts 3,988 3,891
Corporation tax 18,851 13,117
Other taxes and social security 1,043 17
Other creditors and accruals (Current liabilities - creditors < 1 year) 13,616 11,139
Deferred income (Current liabilities - creditors < 1 year) 782 2,179
39,660 31,670
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 8,638 12,626
The bank loan outstanding at the reporting date includes instalments due after more than five years of £ Nil (2022 - £ Nil)
The bank loan was advanced under the Bounce Back Loan Scheme, therefore, the entirety of this loan is fully guaranteed by the UK government.
8. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
2023 2022
£ £
Other timing differences 743 402
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 37,700 34,020
During the year dividends totalling £37,700 (2022 - £34,020) were paid in respect of shares held by the company's directors.
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