Roco Technology Group Ltd 12826822 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is the development of software. Digita Accounts Production Advanced 6.30.9574.0 true 12826822 2022-09-01 2023-08-31 12826822 2023-08-31 12826822 core:RetainedEarningsAccumulatedLosses 2023-08-31 12826822 core:ShareCapital 2023-08-31 12826822 core:CurrentFinancialInstruments 2023-08-31 12826822 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12826822 core:FurnitureFittingsToolsEquipment 2023-08-31 12826822 bus:SmallEntities 2022-09-01 2023-08-31 12826822 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12826822 bus:FullAccounts 2022-09-01 2023-08-31 12826822 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 12826822 bus:RegisteredOffice 2022-09-01 2023-08-31 12826822 bus:Director4 2022-09-01 2023-08-31 12826822 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12826822 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 12826822 core:OfficeEquipment 2022-09-01 2023-08-31 12826822 countries:EnglandWales 2022-09-01 2023-08-31 12826822 2022-08-31 12826822 core:FurnitureFittingsToolsEquipment 2022-08-31 12826822 2021-09-01 2022-08-31 12826822 2022-08-31 12826822 core:RetainedEarningsAccumulatedLosses 2022-08-31 12826822 core:ShareCapital 2022-08-31 12826822 core:CurrentFinancialInstruments 2022-08-31 12826822 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 12826822 core:FurnitureFittingsToolsEquipment 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 12826822

Roco Technology Group Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Roco Technology Group Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Roco Technology Group Ltd

(Registration number: 12826822)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,086

9,448

Current assets

 

Debtors

5

7,700

8,142

Cash at bank and in hand

 

2,683

1,874

 

10,383

10,016

Creditors: Amounts falling due within one year

6

(272,640)

(158,021)

Net current liabilities

 

(262,257)

(148,005)

Net liabilities

 

(255,171)

(138,557)

Capital and reserves

 

Called up share capital

300

300

Retained earnings

(255,471)

(138,857)

Shareholders' deficit

 

(255,171)

(138,557)

For the financial year ending 31 August 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
H Spillane
Director

 

Roco Technology Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

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

The address of its registered office is:
Holroyds Mill
Old Lane
Halifax
HX3 5WQ
England

These financial statements were authorised for issue by the Board on 30 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) 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.

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:

 

Roco Technology Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Asset class

Depreciation method and rate

Office equipment

25% 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 6).

 

Roco Technology Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

12,963

12,963

At 31 August 2023

12,963

12,963

Depreciation

At 1 September 2022

3,515

3,515

Charge for the year

2,362

2,362

At 31 August 2023

5,877

5,877

Carrying amount

At 31 August 2023

7,086

7,086

At 31 August 2022

9,448

9,448

5

Debtors

2023
£

2022
£

Prepayments

2,286

2,615

Other debtors

5,414

5,527

7,700

8,142

 

Roco Technology Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

3,884

1,819

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

235,150

133,002

Taxation and social security

 

12,806

2,442

Accruals and deferred income

 

1,100

1,000

Other creditors

 

19,700

19,758

 

272,640

158,021