Company Registration No. 02419896 (England and Wales)
ROCKMINE LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
ROCKMINE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ROCKMINE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
31,785
17,833
Current assets
Stocks
18,000
13,875
Debtors
3,156
9,016
21,156
22,891
Creditors: amounts falling due within one year
(55,209)
(35,628)
Net current liabilities
(34,053)
(12,737)
Total assets less current liabilities
(2,268)
5,096
Creditors: amounts falling due after more than one year
(5,674)
-
(7,942)
5,096
Capital and reserves
Called up share capital
3
1,300
1,300
Profit and loss account
(9,242)
3,796
Shareholders' funds
(7,942)
5,096
For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 30 June 2017
K Smith
Director
Company Registration No. 02419896
ROCKMINE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements have been prepared on a going concern basis which is considered to be appropriate, although the company's ability to continue trading is reliant on the support of the director.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
Computer equipment
33% on reducing balance
Fixtures, fittings & equipment
10% on reducing balance
Motor vehicles
20% on reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the director, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
ROCKMINE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2015
190,445
Additions
22,880
Disposals
(15,871)
At 30 September 2016
197,454
Depreciation
At 1 October 2015
172,612
On disposals
(15,870)
Charge for the year
8,927
At 30 September 2016
165,669
Net book value
At 30 September 2016
31,785
At 30 September 2015
17,833
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1,300 Ordinary Shares of £1 each
1,300
1,300