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Registration number: 12877433

Rockett Design Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Rockett Design Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Rockett Design Ltd

Company Information

Directors

Mr Timothy John Rockett

Mrs Roxane Amroliwalla

Registered office

39 Tory
Bradford-On-Avon
BA15 1NN

Accountants

BJP Finance Ltd
Chartered Accountants
34 Market Street
Bradford-On-Avon
Wiltshire
BA15 1LL

 

Rockett Design Ltd

(Registration number: 12877433)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,296

1,626

Investment property

5

471,127

471,127

 

472,423

472,753

Current assets

 

Debtors

6

1,669

1,417

Cash at bank and in hand

 

9,484

4,144

 

11,153

5,561

Creditors: Amounts falling due within one year

7

(462,805)

(465,134)

Net current liabilities

 

(451,652)

(459,573)

Total assets less current liabilities

 

20,771

13,180

Provisions for liabilities

(74)

(90)

Net assets

 

20,697

13,090

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

20,597

12,990

Shareholders' funds

 

20,697

13,090

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 June 2025 and signed on its behalf by:
 

 

Rockett Design Ltd

(Registration number: 12877433)
Balance Sheet as at 30 September 2024

.........................................
Mr Timothy John Rockett
Director

 

Rockett Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
39 Tory
Bradford-On-Avon
BA15 1NN
England

These financial statements were authorised for issue by the Board on 19 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rockett Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% straight line

Office Equipment

25% straight line

Plant & Machinery

10% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Rockett Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Rockett Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

2,849

497

3,346

Additions

576

-

576

At 30 September 2024

3,425

497

3,922

Depreciation

At 1 October 2023

1,631

89

1,720

Charge for the year

856

50

906

At 30 September 2024

2,487

139

2,626

Carrying amount

At 30 September 2024

938

358

1,296

At 30 September 2023

1,218

408

1,626

5

Investment properties

2024
£

At 1 October

471,127

At 30 September

471,127

There has been no valuation of investment property by an independent valuer.

 

Rockett Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

debtors

Current

2024
£

2023
£

Trade debtors

240

120

Prepayments

569

476

Other debtors

860

821

 

1,669

1,417

 

Rockett Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

449,851

457,242

Taxation and social security

 

3,102

3,458

Accruals and deferred income

 

2,578

2,434

Other creditors

 

7,274

2,000

 

462,805

465,134

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

449,851

457,242

10

Dividends

2024

2023

£

£

Interim dividend of £50.00 (2023 - £90.00) per ordinary share

5,000

9,000

 

 
 

Rockett Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

11

Related party transactions

During the accounting period to 30 September 2021, the Company acquired an investment property for £468,152. This purchase was funded via a combination of Directors Loans totalling £460,152 and a £8,000 loan from a participator Miss Tay Rockett.

The Directors loans totalling £449,851 (2023:£457,242) were non-interest bearing until 31 August 2022. From 1 September 2022, an interest rate of 4% is charged and in the year to 30 September 2024 there were payments of £17,662. The loans are repayable on demand to the Directors and as such are disclosed within creditors due within 1 year in the Company balance sheet. The Directors have committed to keep these loans in place for as long as the Company requires them.

The participator loan of £NIL (2023: £NIL) was non-interest bearing and repaid in full in a prior accounting period.

 

Rockett Design Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Mr Timothy John Rockett

Directors Loan Account

(227,987)

4,037

(683)

(224,633)

Mrs Roxane Amroliwalla

Directors Loan Account

(229,255)

4,037

-

(225,218)

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Mr Timothy John Rockett

Directors Loan Account

(229,248)

2,210

(949)

(227,987)

Mrs Roxane Amroliwalla

Directors Loan Account

(229,255)

3,096

(3,096)

(229,255)