Company registration number 14240731 (England and Wales)
ROCKENDOOR HOMES LTD
Unaudited Financial Statements
for the Year Ended 31 December 2024
ROCKENDOOR HOMES LTD
Contents
Page
Company information
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 9
ROCKENDOOR HOMES LTD
Company Information
- 1 -
Directors
Mr C J Parris
Mrs A L Parris
(Appointed 14 January 2025)
Company number
14240731
Registered office
123 City Road
London
EC1V 2NX
Accountants
RCH Accountants Limited
Wellfield House
Temple Street
Llandrindod Wells
Powys
LD1 5HG
ROCKENDOOR HOMES LTD
Balance Sheet
As at 31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
26,719
3,256
Investment property
5
563,977
563,977
590,696
567,233
Current assets
Debtors
6
2,117
-
0
Cash at bank and in hand
506
5,589
2,623
5,589
Creditors: amounts falling due within one year
7
(211,485)
(207,526)
Net current liabilities
(208,862)
(201,937)
Total assets less current liabilities
381,834
365,296
Creditors: amounts falling due after more than one year
8
(366,088)
(348,990)
Provisions for liabilities
(5,077)
(619)
Net assets
10,669
15,687
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
10,569
15,587
Total equity
10,669
15,687

The notes on pages 5 to 9 form part of these financial statements.

ROCKENDOOR HOMES LTD
Balance Sheet
As at 31 December 2024
- 3 -

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 December 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 2 February 2025 and are signed on its behalf by:
Mr C J Parris
Director
Company registration number 14240731 (England and Wales)
ROCKENDOOR HOMES LTD
Statement of Changes in Equity
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 18 July 2022
-
0
-
0
-
Period ended 31 December 2023:
Profit and total comprehensive income
-
15,587
15,587
Issue of share capital
100
-
100
Balance at 31 December 2023
100
15,587
15,687
Year ended 31 December 2024:
Profit and total comprehensive income
-
9,982
9,982
Dividends
-
(15,000)
(15,000)
Balance at 31 December 2024
100
10,569
10,669

The notes on pages 5 to 9 form part of these financial statements.

ROCKENDOOR HOMES LTD
Notes to the Financial Statements
For the Year Ended 31 December 2024
- 5 -
1
Accounting policies
Company information

Rockendoor Homes Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 123 City Road, London, EC1V 2NX.

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
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:

Fixtures and fittings
20% on cost
Motor vehicles
20% 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.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

ROCKENDOOR HOMES LTD
Notes to the Financial Statements
For the Year Ended 31 December 2024
1
Accounting policies
- 6 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.7
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.

ROCKENDOOR HOMES LTD
Notes to the Financial Statements
For the Year Ended 31 December 2024
1
Accounting policies
- 7 -
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.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
ROCKENDOOR HOMES LTD
Notes to the Financial Statements
For the Year Ended 31 December 2024
- 8 -
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024
4,071
-
0
4,071
Additions
-
0
24,689
24,689
At 31 December 2024
4,071
24,689
28,760
Depreciation and impairment
At 1 January 2024
815
-
0
815
Depreciation charged in the year
815
411
1,226
At 31 December 2024
1,630
411
2,041
Carrying amount
At 31 December 2024
2,441
24,278
26,719
At 31 December 2023
3,256
-
0
3,256
5
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
563,977

Investment property comprises three residential properties. The director believes that fair value is not significantly different to cost.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
2,117
-
0
7
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
2,902
-
0
Corporation tax
-
0
3,038
Other creditors
207,833
203,768
Accruals and deferred income
750
720
211,485
207,526
ROCKENDOOR HOMES LTD
Notes to the Financial Statements
For the Year Ended 31 December 2024
- 9 -
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
348,990
348,990
Obligations under finance leases
17,098
-
0
366,088
348,990
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