Company Registration No. SC340899 (Scotland)
RROCK LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
RROCK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
RROCK LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
713,127
780,539
Current assets
Stocks
31,887
32,154
Debtors
3,572
11,935
Cash at bank and in hand
409,663
403,156
445,122
447,245
Creditors: amounts falling due within one year
(273,115)
(260,333)
Net current assets
172,007
186,912
Total assets less current liabilities
885,134
967,451
Creditors: amounts falling due after more than one year
(236,000)
(236,000)
Provisions for liabilities
(39,902)
(43,190)
609,232
688,261
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
609,132
688,161
Shareholders' funds
609,232
688,261
RROCK LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2016 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their 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 24 February 2017
J Revie
Director
Company Registration No. SC340899
RROCK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
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).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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
4% straight line
Plant and machinery
10% straight line
1.4
Stock
Stock is valued at the lower of cost and net realisable value. Net realisable value is based upon estimated selling price less further costs expected to be incurred to completion and disposal. Provision is made for obsolete and slow moving items.
1.5
Deferred taxation
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not they will be recovered. Deferred tax assets and liabilities are not discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015 & at 31 May 2016
1,189,415
Depreciation
At 1 June 2015
408,875
Charge for the year
67,413
At 31 May 2016
476,288
Net book value
At 31 May 2016
713,127
At 31 May 2015
780,539
RROCK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100