ACCOUNTS - Final Accounts preparation

Registered number: 04423718

ROCK ASSET MANAGEMENT LIMITED

UNAUDITED

ANNUAL REPORT
AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2024

ROCK ASSET MANAGEMENT LIMITED

REGISTERED NUMBER: 04423718

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible fixed assets	4		100,004		114,585
Current assets
Stocks	5	98,908		98,908
Debtors: amounts falling due within one year	6	188,890		255,839
Cash at bank and in hand	7	6,260		31,535
		294,058		386,282
Creditors: amounts falling due within one year	8	(768,954)		(888,442)
Net current liabilities			(474,896)		(502,160)

Net liabilities			(374,892)		(387,575)

Capital and reserves
Called up share capital	9	1,010	1,010
Profit and loss account	10	(375,902)	(388,585)
Shareholders' deficit		(374,892)	(387,575)

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr R G Smee

Director

Date: 25 September 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

ROCK ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Rock Asset Management Limited is a private company, limited by shares and incorporated in England and Wales, registered number 04423718. The registered office address is Chisbridge Farm Chisbridge Lane, Frieth Road, Marlow, Buckinghamshire, SL7 2HS.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

These financial statements are presented in sterling, which is the functional currency of the Company and rounded to the nearest £1.

The following principal accounting policies have been applied:

2.2

Going concern

At the year-end, the company's balance sheet shows net current liabiltiies and net liabilities. Based on this, the financial statements have been prepared on the going concern basis which assumes that the company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements. The directors are satisfied that they have sufficient funding arrangements to pay liablities as they fall.

2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

ROCK ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Short-term leasehold property	-	5%	straight line method
				Office equipment	-	25%	straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3

ROCK ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

4.	Tangible fixed assets

	Short-term leasehold property	Office equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	122,179	92,715	214,894
At 31 December 2024	122,179	92,715	214,894
Depreciation
At 1 January 2024	46,327	53,981	100,308
Charge for the year on owned assets	6,109	8,473	14,582
At 31 December 2024	52,436	62,454	114,890
Net book value
At 31 December 2024	69,743	30,261	100,004
At 31 December 2023	75,852	38,734	114,586

5.	Stocks
		2024	2023
		£	£

	Development costs incurred	98,908	98,908

Page 4

ROCK ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Prepayments and accrued income	188,890	255,839

7.	Cash and cash equivalents
		2024	2023
		£	£

	Cash at bank and in hand	6,260	31,535

8.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	-	286
Amounts owed to group undertakings	743,156	764,405
Corporation tax	1,498	76
Other taxation and social security	3,691	3,390
Accruals and deferred income	20,609	120,285
	768,954	888,442

9.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1,010 (2023 - 1,010) Ordinary shares of £1.00 each	1,010	1,010

Page 5

ROCK ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.

Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of all adjustments.

11.	Related party transactions
	The Company has taken the exemption under FRS102 section 33.1A not to disclose transactions and balances with other Companies, on the basis that it is a wholly owned subsidiary.

12.	Controlling party

At 31 December 2024 the ultimate parent company is Rock Co. Capital Limited, incorporated in the United Kingdom. The registered office address is Chisbridge Farm, Chisbridge Lane, Frieth Road, Marlow, Buckinghamshire, SL7 2HS.
The ultimate controlling party is Mr R G Smee.

Page 6