Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01false11falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04423718 2023-01-01 2023-12-31 04423718 2022-01-01 2022-12-31 04423718 2023-12-31 04423718 2022-12-31 04423718 c:Director1 2023-01-01 2023-12-31 04423718 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 04423718 d:Buildings d:ShortLeaseholdAssets 2023-12-31 04423718 d:Buildings d:ShortLeaseholdAssets 2022-12-31 04423718 d:OfficeEquipment 2023-01-01 2023-12-31 04423718 d:OfficeEquipment 2023-12-31 04423718 d:OfficeEquipment 2022-12-31 04423718 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04423718 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04423718 d:CurrentFinancialInstruments 2023-12-31 04423718 d:CurrentFinancialInstruments 2022-12-31 04423718 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04423718 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04423718 d:ShareCapital 2023-12-31 04423718 d:ShareCapital 2022-12-31 04423718 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04423718 d:RetainedEarningsAccumulatedLosses 2023-12-31 04423718 d:RetainedEarningsAccumulatedLosses 2022-12-31 04423718 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04423718 c:OrdinaryShareClass1 2023-12-31 04423718 c:OrdinaryShareClass1 2022-12-31 04423718 c:FRS102 2023-01-01 2023-12-31 04423718 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04423718 c:FullAccounts 2023-01-01 2023-12-31 04423718 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04423718 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04423718










ROCK ASSET MANAGEMENT LIMITED

UNAUDITED
ANNUAL REPORT
AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2023
 






 



 






 
ROCK ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 04423718

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
114,585
125,355

Current assets
  

Stocks
 5 
98,908
97,756

Debtors: amounts falling due within one year
 6 
255,839
221,987

Cash at bank and in hand
 7 
31,535
11,545

  
386,282
331,288

Creditors: amounts falling due within one year
 8 
(888,442)
(828,378)

Net current liabilities
  
 
 
(502,160)
 
 
(497,090)

  

Net liabilities
  
(387,575)
(371,735)


Capital and reserves
  

Called up share capital 
 9 
1,010
1,010

Profit and loss account
 10 
(388,585)
(372,745)

Shareholders' deficit
  
(387,575)
(371,735)


The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr R G Smee
Director

Date: 30 September 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
ROCK ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Rock Asset Management Limited is a private company, limited by shares and incorporated in England and Wales, registered number 04423718. The registered office address is Chisbridge Farm Chisbridge Lane, Frieth Road, Marlow, Buckinghamshire, SL7 2HS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

These financial statements are presented in sterling, which is the functional currency of the Company and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
ROCK ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
5%
straight line method
Office equipment
-
25%
straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3

 
ROCK ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Short-term leasehold property
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
122,179
88,224
210,403


Additions
-
4,490
4,490



At 31 December 2023

122,179
92,714
214,893



Depreciation


At 1 January 2023
40,218
44,831
85,049


Charge for the year on owned assets
6,109
9,150
15,259



At 31 December 2023

46,327
53,981
100,308



Net book value



At 31 December 2023
75,852
38,733
114,585



At 31 December 2022
81,961
43,394
125,355


5.


Stocks

2023
2022
£
£

Development costs incurred
98,908
97,756


Page 4

 
ROCK ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Other debtors
-
9,517

Prepayments and accrued income
255,839
212,470

255,839
221,987



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
31,535
11,545



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
286
1,000

Amounts owed to group undertakings
764,405
531,093

Corporation tax
76
32,632

Other taxation and social security
3,390
905

Other creditors
-
100,754

Accruals and deferred income
120,285
161,994

888,442
828,378



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,010 (2022 - 1,010) Ordinary shares of £1.00 each
1,010
1,010


Page 5

 
ROCK ASSET MANAGEMENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of all adjustments. 


11.


Related party transactions

The Company has taken the exemption under FRS102 section 33.1A not to disclose transactions and balances with other Companies, on the basis that it is a wholly owned subsidiary.


12.


Controlling party

At 31 December 2023 the ultimate parent company was Rock Co. Capital Limited, incorporated in the United Kingdom. The registered office address is Chisbridge Farm, Chisbridge Lane, Frieth Road, Marlow, Buckinghamshire, SL7 2HS.
The ultimate controlling party is Mr R G Smee.


Page 6