ROCO9 LTD

Company Registration Number:
NI667038 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

ROCO9 LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

ROCO9 LTD

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 136,265 54,762
Tangible assets: 4 161,375 111,388
Investments:   0 0
Total fixed assets: 297,640 166,150
Current assets
Stocks: 1,673,064 1,237,546
Debtors:   622,372 69,404
Cash at bank and in hand: 170,683 856,363
Investments:   0 0
Total current assets: 2,466,119 2,163,313
Creditors: amounts falling due within one year:   (1,820,456) (1,630,653)
Net current assets (liabilities): 645,663 532,660
Total assets less current liabilities: 943,303 698,810
Creditors: amounts falling due after more than one year:     0
Provision for liabilities: (103,328) (88,563)
Total net assets (liabilities): 839,975 610,247
Capital and reserves
Called up share capital: 100 100
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 839,875 610,147
Shareholders funds: 839,975 610,247

The notes form part of these financial statements

ROCO9 LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 September 2024
and signed on behalf of the board by:

Name: Shane Connolly
Status: Director

The notes form part of these financial statements

ROCO9 LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible fixed assets and depreciation policy

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows: Plant and machinery - 15% Straight Line Fixtures, fittings and equipment - 15% Straight Line Motor vehicles - 20% Reducing Balance Software - 33% Straight Line. The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Intangible fixed assets and amortisation policy

Intangible assets are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 0 years.

Other accounting policies

Basis of preparation The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. Leasing and hire purchases Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account. Stocks Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling. Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. Borrowing costs Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred. Trade and other creditors Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. Taxation and deferred taxation Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date. Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account. Research and development Development expenditure is written off in the same financial year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit. Development costs are amortised at 33% straight line.

ROCO9 LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 8 5

ROCO9 LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible Assets

Total
Cost £
At 01 January 2023 76,721
Additions 139,517
Disposals 0
Revaluations 0
Transfers 0
At 31 December 2023 216,238
Amortisation
At 01 January 2023 21,959
Charge for year 58,014
On disposals 0
Other adjustments 0
At 31 December 2023 79,973
Net book value
At 31 December 2023 136,265
At 31 December 2022 54,762

ROCO9 LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible Assets

Total
Cost £
At 01 January 2023 160,663
Additions 102,806
Disposals 0
Revaluations 0
Transfers 0
At 31 December 2023 263,469
Depreciation
At 01 January 2023 49,275
Charge for year 52,819
On disposals 0
Other adjustments 0
At 31 December 2023 102,094
Net book value
At 31 December 2023 161,375
At 31 December 2022 111,388

ROCO9 LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Financial commitments

The company had no material capital commitments at the financial year-ended 31 December 2023.

ROCO9 LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Related party transactions

The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings. The company regards Concession Road Solutions Ltd as its parent company. The company's ultimate parent undertaking is Concession Road Solutions Ltd.

ROCO9 LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Post balance sheet events

There have been no significant events affecting the company since the financial year-end.