1 February 2023 v2024.39.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPNI6672922023-02-012024-01-31NI6672922024-01-31NI6672922023-01-31NI667292core:WithinOneYear2024-01-31NI667292core:WithinOneYear2023-01-31NI667292core:AfterOneYear2024-01-31NI667292core:AfterOneYear2023-01-31NI667292core:ShareCapital2024-01-31NI667292core:ShareCapital2023-01-31NI667292core:RetainedEarningsAccumulatedLosses2024-01-31NI667292core:RetainedEarningsAccumulatedLosses2023-01-31NI667292bus:Director12023-02-012024-01-31NI667292bus:RegisteredOffice2023-02-012024-01-31NI667292core:MotorVehicles2023-02-012024-01-31NI6672922022-02-012023-01-31NI667292core:PlantMachinery2024-01-31NI667292core:PlantMachinery2023-02-01NI667292core:PlantMachinery2023-02-012024-01-31NI667292core:PlantMachinery2023-01-31NI66729212023-02-012024-01-31NI667292countries:NorthernIreland2023-02-012024-01-31NI667292bus:AuditExemptWithAccountantsReport2023-02-012024-01-31NI667292bus:PrivateLimitedCompanyLtd2023-02-012024-01-31NI667292bus:SmallEntities2023-02-012024-01-31NI667292bus:FullAccounts2023-02-012024-01-31
Company registration number:
NI667292
ROC'S CONTRACTS LTD
Unaudited Filleted Financial Statements for the year ended
31 January 2024
ROC'S CONTRACTS LTD
Chartered accountant's report to the board of directors on the unaudited statutory financial statements of ROC'S CONTRACTS LTD
Year ended
31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the
financial statements
of the company which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the accounting records and information and explanations you have given to us.
This report is made to the Company’s Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the
financial statements
that we have been engaged to compile, report to the Company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s Board of Directors, as a body, for our work, or for this report.
We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the Code of Ethics for Members published by the Institute relating to members undertaking the compilation of
financial statements
.
You have acknowledged on the statement of financial position for the year ended
31 January 2024
your duty under the Companies Act 2006 to ensure that the company has kept adequate accounting records and prepared
financial statements
which give a true and fair view of the assets, liabilities and financial position of the company at the end of its year and of its profit or loss for that year, and otherwise comply with the provisions of the Companies Act 2006 relating to
financial statements
so far as they are applicable to the company. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the
financial statements
. 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
financial statements
.
Diver Donaghy & Company Ltd
Gortfoyle Business Centre
104-108 Spencer Road
Londonderry
BT47 6AG
United Kingdom
Date:
27 August 2024
ROC'S CONTRACTS LTD
Statement of Financial Position
31 January 2024
20242023
Note££
Fixed assets    
Tangible assets 5
4,713
 
9,423
 
Current assets    
Stocks
50,450
 
19,500
 
Debtors 6
71,715
 
26,871
 
Cash at bank and in hand
19,441
 
7,175
 
141,606
 
53,546
 
Creditors: amounts falling due within one year 7
(65,934
)
(35,295
)
Net current assets
75,672
 
18,251
 
Total assets less current liabilities 80,385   27,674  
Creditors: amounts falling due after more than one year 8
(1,906
)
(5,718
)
Net assets
78,479
 
21,956
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
78,477
 
21,954
 
Shareholders funds
78,479
 
21,956
 
For the year ending
31 January 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 year 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
27 August 2024
, and are signed on behalf of the board by:
P Murphy
Director
Company registration number:
NI667292
ROC'S CONTRACTS LTD
Notes to the Financial Statements
Year ended
31 January 2024

1 General information

The company is a private company limited by shares and is registered in Northern Ireland. The address of the registered office is
10 Irwin Crescent
,
Claudy
,
Derry
,
Derry
,
BT47 4AB
, Northern Ireland.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Current tax

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 measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor vehicles
20% Straight Line

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
1.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 February 2023
and
31 January 2024
23,553
 
Depreciation  
At
1 February 2023
14,130
 
Charge
4,710
 
At
31 January 2024
18,840
 
Carrying amount  
At
31 January 2024
4,713
 
At 31 January 2023
9,423
 

6 Debtors

20242023
££
Trade debtors
56,794
 
15,083
 
Other debtors
14,921
 
11,788
 
71,715
 
26,871
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
46,902
  -  
Taxation and social security
36,493
 
32,337
 
Other creditors
(17,461
)
2,958
 
65,934
 
35,295
 

8 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
1,906
 
5,718