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Company No: 12397418 (England and Wales)

ROCKING HORSE GROUP UK LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ROCKING HORSE GROUP UK LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ROCKING HORSE GROUP UK LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
ROCKING HORSE GROUP UK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS J Davis
T Walker
REGISTERED OFFICE 30 City Road
London
EC1Y 2AB
United Kingdom
COMPANY NUMBER 12397418 (England and Wales)
ACCOUNTANT Gravita II LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
ROCKING HORSE GROUP UK LIMITED

BALANCE SHEET

As at 30 April 2024
ROCKING HORSE GROUP UK LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 184 630
184 630
Current assets
Debtors 4 14,758 14,758
Cash at bank and in hand 39,809 13,781
54,567 28,539
Creditors: amounts falling due within one year 5 ( 2,325,738) ( 1,521,773)
Net current liabilities (2,271,171) (1,493,234)
Total assets less current liabilities (2,270,987) (1,492,604)
Net liabilities ( 2,270,987) ( 1,492,604)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 2,271,087 ) ( 1,492,704 )
Total shareholder's deficit ( 2,270,987) ( 1,492,604)

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Rocking Horse Group UK Limited (registered number: 12397418) were approved and authorised for issue by the Board of Directors on 28 May 2025. They were signed on its behalf by:

T Walker
Director
ROCKING HORSE GROUP UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ROCKING HORSE GROUP UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rocking Horse Group UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 30 City Road, London, EC1Y 2AB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The company is a cost hub for the Group which will always incur losses and have a balance sheet in deficit but is fully supported by the Group.

At the time of approving the financial statements, the directors have a reasonable expectation that the company will have adequate resources, including the support of creditors and shareholders, to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 4 years 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.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 4

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 May 2023 1,782 1,782
At 30 April 2024 1,782 1,782
Accumulated depreciation
At 01 May 2023 1,152 1,152
Charge for the financial year 446 446
At 30 April 2024 1,598 1,598
Net book value
At 30 April 2024 184 184
At 30 April 2023 630 630

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings (note 8) 5,158 5,158
Other debtors 9,600 9,600
14,758 14,758

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 675 40,198
Amounts owed to Group undertakings (note 8) 2,239,855 1,435,417
Other taxation and social security 71,146 39,719
Other creditors 14,062 6,439
2,325,738 1,521,773

Quilam Special Opportunities Limited hold a fixed and floating charge over the assets and undertakings of the company, its parent and that of its sister subsidiaries.

On 2 March 2022, Shawbrook Bank Limited secured a fixed and floating charge over the assets and undertakings of the company, its parent and that of its sister subsidiaries.

Amounts owed to group undertakings incur interest at 7.5% and are repayable on demand.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Financial commitments

Other financial commitments

2024 2023
£ £
Future minimum lease payments under non-cancellable operating leases, as follows: 42,000 15,360

8. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.