REGISTERED NUMBER: 14207564 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

ROCKART I LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

F Meehan

REGISTERED OFFICE:

Chart House

2 Effingham Road

Reigate

Surrey

RH2 7JN

REGISTERED NUMBER:

14207564 (England and Wales)

ACCOUNTANTS:

John Williams & Co Limited

Chartered Certified Accountants

Chart House

2 Effingham Road

Reigate

Surrey

RH2 7JN

FIXED ASSETS

Tangible assets

4

75,747

73,993

Investment property

5

11,000,000

10,400,000

11,075,747

10,473,993

CURRENT ASSETS

Debtors

6

254,713

27,234

Cash at bank

275,551

200,094

530,264

227,328

CREDITORS

Amounts falling due within one year

7

6,016,887

3,781,932

NET CURRENT LIABILITIES

(5,486,623

)

(3,554,604

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,589,124

6,919,389

CREDITORS

Amounts falling due after more than one year

8

6,293,936

7,793,498

NET LIABILITIES

(704,812

)

(874,109

)

CAPITAL AND RESERVES

Called up share capital

100

100

Non-distributable reserve

9

(142,104

)

(718,959

)

Retained earnings

(562,808

)

(155,250

)

(704,812

)

(874,109

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 October 2025 and were signed by:

F Meehan - Director

1.	STATUTORY INFORMATION

Rockart I Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Changes in accounting policies

Transition to FRS 102

1. Basis of Preparation

For the year ended 31 March 2025, the company has prepared its financial statements in accordance with Financial Reporting Standard 102 (FRS 102) Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland. This is the first year in which the company has adopted FRS 102, having previously prepared its financial statements under FRS 105 - The Financial Reporting Standard applicable to the Micro-entities Regime.

The transition date to FRS 102 is 1 April 2023, being the start of the earliest comparative period presented.

2. Transition Adjustments

In preparing these financial statements, the company has applied the requirements of FRS 102 Section 35 - Transition to this FRS. The transition has resulted in the following key adjustments:

- Investment Property: Under FRS 105, investment property was held at cost less depreciation. Under FRS 102, investment property is measured at fair value, with changes in fair value recognised in profit or loss. This has resulted in adjustments to the carrying values of the property as at 1 April 2023 and 31 March 2024.

- Deferred Tax: FRS 102 requires recognition of deferred tax on temporary differences, including those arising from revaluation of investment property. A deferred tax liability has been considered accordingly.

- Financial Instruments: Basic financial instruments have been reviewed and measured in accordance with Section 11 of FRS 102. No material adjustments were required.

3. Reconciliation of Equity

A reconciliation of equity as at the transition date (1 April 2023) and the end of the comparative period (31 April 2024) is as follows:

Equity

1 April 2023

31 March 2024

Equity under FRS 105

£(5,719

)

£(136,652

)

Adjustment for investment property revaluation

£396

£(718,959

)

Deferred tax

£-

£(18,498

)

Equity under FRS 102

£(5,323

)

£(855,611

)

4. Reconciliation of Profit or Loss

A reconciliation of profit for the year ended 31 March 2024 is as follows:

Profit for the period ended 31 March 2024

Amount

Profit under FRS 105

£(131,033

)

Adjustment for fair value movement on investment property

£(719,355

)

Deferred tax impact

£(18,498

)

Profit under FRS 102

£(868,886

)

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

85,396

1,824

87,220

Additions

13,832

-

13,832

At 31 March 2025

99,228

1,824

101,052

DEPRECIATION

At 1 April 2024

12,809

418

13,227

Charge for year

11,727

351

12,078

At 31 March 2025

24,536

769

25,305

NET BOOK VALUE

At 31 March 2025

74,692

1,055

75,747

At 31 March 2024

72,587

1,406

73,993

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

10,400,000

Additions

23,145

Revaluations

576,855

At 31 March 2025

11,000,000

NET BOOK VALUE

At 31 March 2025

11,000,000

At 31 March 2024

10,400,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2024

10,400,000

Valuation in 2025

600,000

11,000,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

116,590

23,484

Other debtors

100

100

Accrued income

50,005

-

Prepayments

88,018

3,650

254,713

27,234

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

90,354

8,756

Amounts owed to group undertakings

5,495,563

3,571,368

VAT

25,099

1,834

Other creditors

198,070

89,737

Deferred income

200,815

99,637

Accrued expenses

6,986

10,600

6,016,887

3,781,932

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

6,275,000

7,775,000

Tax

18,936

18,498

6,293,936

7,793,498

9.

RESERVES

Non-distributable

reserve

£

At 1 April 2024

(718,959

)

Gain/loss on revaluation of

investment property

576,855

At 31 March 2025

(142,104

)