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COMPANY REGISTRATION NUMBER: 06258447
Oldrock (2007) Limited
Filleted Unaudited Financial Statements
30 June 2024
Oldrock (2007) Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
34
46
Current assets
Debtors
6
34,752
23,980
Cash at bank and in hand
4,400
1,215
--------
--------
39,152
25,195
Creditors: amounts falling due within one year
7
3,027
909
--------
--------
Net current assets
36,125
24,286
--------
--------
Total assets less current liabilities
36,159
24,332
--------
--------
Net assets
36,159
24,332
--------
--------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
35,159
23,332
--------
--------
Shareholders funds
36,159
24,332
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Oldrock (2007) Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 21 March 2025 , and are signed on behalf of the board by:
Mr. H. Sturt
Director
Company registration number: 06258447
Oldrock (2007) Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Aumonier House, Petworth, West Sussex, GU28 9AA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
33% straight line
Fixtures & fittings
-
25% reducing balance
Office equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 July 2023 and 30 June 2024
14,724
1,698
5,575
21,997
--------
-------
-------
--------
Depreciation
At 1 July 2023
14,724
1,652
5,575
21,951
Charge for the year
12
12
--------
-------
-------
--------
At 30 June 2024
14,724
1,664
5,575
21,963
--------
-------
-------
--------
Carrying amount
At 30 June 2024
34
34
--------
-------
-------
--------
At 30 June 2023
46
46
--------
-------
-------
--------
6. Debtors
2024
2023
£
£
Other debtors
34,752
23,980
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
2,019
Social security and other taxes
408
409
Other creditors
600
500
-------
----
3,027
909
-------
----
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr. H. Sturt
11,653
5,386
17,039
Ms. M. O'Leary
11,653
5,386
17,039
--------
--------
--------
23,306
10,772
34,078
--------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr. H. Sturt
3,787
7,866
11,653
Ms. M. O'Leary
3,788
7,865
11,653
-------
--------
--------
7,575
15,731
23,306
-------
--------
--------
9. Related party transactions
The company was under the control of Mr. Hugo Sturt and Ms. M. O'Leary , both directors of the company, throughout the current and previous year. The overdrawn Directors' loan account balances at 30 June 2024 were cleared by way of a dividend declared and paid before 31 March 2025. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.