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Company registration number: 11947323
Rock Rebels Ltd
Unaudited filleted financial statements
31 May 2024
Rock Rebels Ltd
Contents
Statement of financial position
Notes to the financial statements
Rock Rebels Ltd
Statement of financial position
31 May 2024
31/05/24 30/04/23
Note £ £ £ £
Fixed assets
Investments 6 63,303 63,303
_______ _______
63,303 63,303
Current assets
Debtors 7 1,854,437 1,064,517
Cash at bank and in hand 461 1,387,295
_______ _______
1,854,898 2,451,812
Creditors: amounts falling due
within one year 8 ( 16,804) ( 269,399)
_______ _______
Net current assets 1,838,094 2,182,413
_______ _______
Total assets less current liabilities 1,901,397 2,245,716
_______ _______
Net assets 1,901,397 2,245,716
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,901,396 2,245,715
_______ _______
Shareholders funds 1,901,397 2,245,716
_______ _______
For the period ending 31 May 2024 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 period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mr P C Rockliffe
Director
Company registration number: 11947323
Rock Rebels Ltd
Notes to the financial statements
Period ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brooklands House, 58 Marlborough Road, Lancing, Business Park, BN15 8AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are 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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2023: 1 ).
5. Tangible assets
Total
£
Cost
At and 31 May 2024 -
_______
Depreciation
At and 31 May 2024 -
_______
Carrying amount
At 31 May 2024 -
_______
At 30 April 2023 -
_______
6. Investments
Other investments other than loans Total
£ £
Cost
At and 31 May 2024 63,303 63,303
_______ _______
Impairment
At and 31 May 2024 - -
_______ _______
Carrying amount
At 31 May 2024 63,303 63,303
_______ _______
At 30 April 2023 63,303 63,303
_______ _______
7. Debtors
31/05/24 30/04/23
£ £
Other debtors 1,854,437 1,064,517
_______ _______
8. Creditors: amounts falling due within one year
31/05/24 30/04/23
£ £
Corporation tax 16,704 237,656
Other creditors 100 31,743
_______ _______
16,804 269,399
_______ _______
9. Directors advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
Period Ended 31/05/24
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr P C Rockliffe ( 29,443) 1,638,872 1,609,429
_______ _______ _______
Year Ended 30/04/23
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr P C Rockliffe ( 42,753) 13,310 ( 29,443)
_______ _______ _______