Company Registration No. 07315641 (England and Wales)
ROCKMOUNT NORTHWEST LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
31 March 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ROCKMOUNT NORTHWEST LIMITED
COMPANY INFORMATION
Directors
N Iqbal
A Hussain
Secretary
R Hussain
Company number
07315641
Registered office
296 Union Road
Oswaldtwistle
Accrington
Lancashire
BB5 3JD
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ROCKMOUNT NORTHWEST LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ROCKMOUNT NORTHWEST LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,088,773
1,075,885
Current assets
Stocks
500
500
Debtors
4
593,452
559,315
Cash at bank and in hand
53,953
11,764
647,905
571,579
Creditors: amounts falling due within one year
5
(327,086)
(216,946)
Net current assets
320,819
354,633
Total assets less current liabilities
1,409,592
1,430,518
Creditors: amounts falling due after more than one year
6
(100,934)
(226,242)
Provisions for liabilities
(5,284)
(7,122)
Net assets
1,303,374
1,197,154
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
1,303,074
1,196,854
Total equity
1,303,374
1,197,154
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ROCKMOUNT NORTHWEST LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 4 September 2024 and are signed on its behalf by:
N Iqbal
A Hussain
Director
Director
Company registration number 07315641 (England and Wales)
ROCKMOUNT NORTHWEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Rockmount Northwest Limited is a private company limited by shares incorporated in England and Wales. The registered office is 296 Union Road, Oswaldtwistle, Accrington, Lancashire, BB5 3JD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents income receivable from health and care provision services rendered. Turnover is recognised in the accounting period in which the company obtains the right to consideration in exchange for its performance.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% on cost
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
ROCKMOUNT NORTHWEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
42
35
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2023
1,143,036
34,215
72,430
1,249,681
Additions
39,600
5,097
44,697
At 31 March 2024
1,182,636
34,215
77,527
1,294,378
Depreciation and impairment
At 1 April 2023
96,940
30,910
45,946
173,796
Depreciation charged in the year
23,654
827
7,328
31,809
At 31 March 2024
120,594
31,737
53,274
205,605
Carrying amount
At 31 March 2024
1,062,042
2,478
24,253
1,088,773
At 31 March 2023
1,046,096
3,305
26,484
1,075,885
ROCKMOUNT NORTHWEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
24,129
21,435
Other debtors
569,323
537,880
593,452
559,315
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
129,577
131,290
Trade creditors
4,179
2,363
Taxation and social security
186,305
77,097
Other creditors
7,025
6,196
327,086
216,946
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
100,934
226,242
7
Secured debts
Included in creditors are bank loans of £203,069 (2023 - £320,261).
Bank loans are secured by a fixed charge over the company's freehold property and by fixed and floating charges over the assets of the company.
8
Operating lease commitments
Lessee
At the year end, the company had operating lease commitments of £8,096 (2023 - £2,985).
9
Related party transactions
At the year end, the company was due £25,000 (2023 - £nil) from a shareholder of the company. The loan is interest free and repayable on demand
ROCKMOUNT NORTHWEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
10
Directors' transactions
The below loans are interest free and repayable on demand.
Description
% Rate
Opening balance
Closing balance
£
£
N Iqbal
-
144,612
144,612
A Hussain
-
257,387
257,387
401,999
401,999