Company registration number 08847291 (England and Wales)
ROCKET STAGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ROCKET STAGE LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
ROCKET STAGE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
2
2
Current assets
Debtors
5
228,914
815,380
Cash at bank and in hand
17,203
5,348
246,117
820,728
Creditors: amounts falling due within one year
6
(612,917)
(460,340)
Net current (liabilities)/assets
(366,800)
360,388
Net (liabilities)/assets
(366,798)
360,390
Capital and reserves
Called up share capital
10,600
10,600
Share premium account
1,889,475
1,889,475
Profit and loss reserves
(2,266,873)
(1,539,685)
Total equity
(366,798)
360,390
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.
The financial statements were approved by the board of directors and authorised for issue on 6 November 2024 and are signed on its behalf by:
Mr D Furnish
Mr L Lloyd-Davies
Director
Director
Company Registration No. 08847291
ROCKET STAGE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 April 2022
10,600
1,889,475
(1,416,860)
483,215
Year ended 31 March 2023:
Loss and total comprehensive income for the year
-
-
(122,825)
(122,825)
Balance at 31 March 2023
10,600
1,889,475
(1,539,685)
360,390
Year ended 31 March 2024:
Loss and total comprehensive income for the year
-
-
(727,188)
(727,188)
Balance at 31 March 2024
10,600
1,889,475
(2,266,873)
(366,798)
ROCKET STAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Rocket Stage Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, The Bloomsbury Building, 10 Bloomsbury Way, Holborn, WC1A 2SL.
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
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
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:
Office equipment
33% straight line
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
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
ROCKET STAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
The company only has financial instruments which are classified as basic financial instruments.
Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.
Bank loans are initially recorded at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
3
Tangible fixed assets
Office equipment
£
Cost
At 1 April 2023 and 31 March 2024
1,785
Depreciation and impairment
At 1 April 2023 and 31 March 2024
1,785
Carrying amount
At 31 March 2024
At 31 March 2023
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2
2
ROCKET STAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
226,633
789,884
Other debtors
2,281
25,496
228,914
815,380
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,651
Trade creditors
5,951
3,024
Taxation and social security
3,597
Other creditors
601,718
457,316
612,917
460,340
ROCKET STAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Related party transactions
Rocket Pictures Limited is a connected company under ultimate common ownership. During the year, Rocket Stage Limited incurred expenses of £7,279 on behalf of Rocket Pictures Limited. At the year end the company was owed £3,034 from Rocket Pictures Limited (2023 - £4,245 owed to Rocket Pictures Limited).
Puppet Show Limited is a connected company under ultimate common ownership. There were no transactions with this company during the year. At the year end the company was owed £440,483 (2023 - £440,483) by Puppet Show Limited. A provision of £220,241 was offset against this debtor at the year end.
Tammy Faye Limited is a connected company under ultimate common ownership. During the year, Tammy Faye Limited incurred expenses of £23,802 in relation to Rocket Stage Limited. At the year end the company was owed £685,958(2023 - £709,760) by Tammy Faye Limited. A provision of £685,958 was offset against this debtor at the year end.
Stage Theatre Holdings Limited is a connected company under ultimate common ownership. There were no transactions with this company during the year. At the year end the company owed £13,823 (2023 - £13,823) to Stage Theatre Holdings Limited
William A Bong Limited is a connected company under ultimate common ownership. During the year, William A Bong Limited incurred £149,234 of expenses on behalf of Rocket Stage Limited. At the year end the company owed £578,452 (2023 - £429,219) to William A Bong Limited.