Company Registration No. 08447152 (England and Wales)
The Rockstone Community Foundation Limited
Unaudited accounts
for the year ended 31 March 2022
The Rockstone Community Foundation Limited
Statement of financial position
as at
31 March 2022
Tangible assets
4,502
5,990
Cash at bank and in hand
8,724
5,303
Creditors: amounts falling due within one year
(7,868)
(6,319)
Net current assets
2,556
684
Profit and loss account
7,058
6,674
Members' funds
7,058
6,674
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 July 2022 and were signed on its behalf by
Mr A Abtar
Director
Company Registration No. 08447152
The Rockstone Community Foundation Limited
Notes to the Accounts
for the year ended 31 March 2022
The Rockstone Community Foundation Limited is a private company, limited by guarantee, registered in England and Wales, registration number 08447152. The registered office is The Rockstone Cycle Hub, 335 Lordship Lane, Tottenham, London, N17 6AB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The Rockstone Community Foundation Limited
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
Charge for the year
1,488
5
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
2,689
2,133
Loans from directors
4,200
-
6
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
7
Average number of employees
During the year the average number of employees was 4 (2021: 4).