Rocket Rentals Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04210024 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

FOR

ROCKET RENTALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J Tomblin

REGISTERED OFFICE:

Area 51

Bristol Road

Slimbridge

Gloucestershire

GL2 7DW

REGISTERED NUMBER:

04210024 (England and Wales)

ACCOUNTANTS:

Shiner Mitchell Fisher & Co Ltd

Smith House

George Street

Nailsworth

Stroud

Gloucestershire

GL6 0AG

FIXED ASSETS

Tangible assets

4

4,804,980

4,873,047

CURRENT ASSETS

Debtors

5

1,302,738

1,258,178

Cash at bank and in hand

355,882

285,139

1,658,620

1,543,317

CREDITORS

Amounts falling due within one year

6

1,608,961

1,575,910

NET CURRENT ASSETS/(LIABILITIES)

49,659

(32,593

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,854,639

4,840,454

CREDITORS

Amounts falling due after more than one year

7

(2,502,013

)

(2,584,531

)

PROVISIONS FOR LIABILITIES

(203,401

)

(181,392

)

NET ASSETS

2,149,225

2,074,531

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,149,125

2,074,431

SHAREHOLDERS' FUNDS

2,149,225

2,074,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 on 10 December 2019 and were signed by:

S J Tomblin - Director

1.	STATUTORY INFORMATION

Rocket Rentals Limited 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.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 15% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2018 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2018

645,573

6,894,091

7,539,664

Additions

-

1,456,321

1,456,321

Disposals

-

(728,407

)

(728,407

)

At 30 June 2019

645,573

7,622,005

8,267,578

DEPRECIATION

At 1 July 2018

-

2,666,617

2,666,617

Charge for year

12,911

1,227,192

1,240,103

Eliminated on disposal

-

(444,122

)

(444,122

)

At 30 June 2019

12,911

3,449,687

3,462,598

NET BOOK VALUE

At 30 June 2019

632,662

4,172,318

4,804,980

At 30 June 2018

645,573

4,227,474

4,873,047

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 July 2018

5,863,974

Additions

1,413,734

Disposals

(637,850

)

At 30 June 2019

6,639,858

DEPRECIATION

At 1 July 2018

1,806,741

Charge for year

1,154,300

Eliminated on disposal

(362,621

)

At 30 June 2019

2,598,420

NET BOOK VALUE

At 30 June 2019

4,041,438

At 30 June 2018

4,057,233

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

724,185

662,060

Amounts owed by group undertakings

535,373

558,714

Other debtors

43,180

37,404

1,302,738

1,258,178

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Hire purchase contracts

1,186,050

1,178,851

Trade creditors

258,959

236,812

Taxation and social security

78,738

69,007

Other creditors

85,214

91,240

1,608,961

1,575,910

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.19

30.6.18

£

£

Hire purchase contracts

2,502,013

2,584,531

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.19

30.6.18

£

£

Hire purchase contracts

3,688,063

3,763,382

9.	RELATED PARTY DISCLOSURES