ROC Projects Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09498498 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

ROC Projects Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C J Matson

Mr R K Charity

REGISTERED OFFICE:

4th Floor

167 Fleet Street

London

EC4A 2EA

REGISTERED NUMBER:

09498498 (England and Wales)

ACCOUNTANTS:

Elliotts Shah

Chartered Accountants

4th Floor

167 Fleet Street

London

EC4A 2EA

CURRENT ASSETS

Stocks

4

1,422,014

1,397,562

Debtors

5

11,862

5,400

Cash at bank

25,288

5,225

1,459,164

1,408,187

CREDITORS

Amounts falling due within one year

6

57,493

295,942

NET CURRENT ASSETS

1,401,671

1,112,245

TOTAL ASSETS LESS CURRENT LIABILITIES

1,401,671

1,112,245

CREDITORS

Amounts falling due after more than one year

7

1,601,900

1,294,900

NET LIABILITIES

(200,229

)

(182,655

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

(200,329

)

(182,755

)

SHAREHOLDERS' FUNDS

(200,229

)

(182,655

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 21 January 2021 and were signed on its behalf by:

Mr R K Charity - Director

Mr C J Matson - Director

1.	STATUTORY INFORMATION

ROC Projects 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.

As disclosed in the Balance Sheet on page 5, the company has net liabilities of £200,229 (2019: £182,655). Included in creditors falling due over one year is an amount of £801,900 (2019: £1,294,900) owed to the directors who have confirmed that no repayment would be demanded until the company has sufficient funds available.

A review of the business activity of the Company related to the impact of COVID-19 is covered in the Directors' report.

The Directors have considered the trading requirements of the company for the period exceeding twelve months from the date of this report. The accounts have been prepared on a going concern basis which assumes the continued support of its Directors.

The accounts do not include any adjustments that would result from a failure to obtain continued support.

Stocks

Stock is valued at the lower of costs and net realisable value.

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 NIL (2019 - NIL).

4.

STOCKS

2020

2019

£

£

Stocks

1,422,014

1,397,562

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

-

72

Prepayments

11,862

5,328

11,862

5,400

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other loans (see note 8)

-

290,602

Trade creditors

-

1,440

Directors' current accounts

48,000

-

Accruals and deferred income

9,493

3,900

57,493

295,942

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other loans (see note 8)

800,000

-

Directors' loan accounts

801,900

1,294,900

1,601,900

1,294,900

8.

LOANS

An analysis of the maturity of loans is given below:

2020

2019

£

£

Amounts falling due within one year or on demand:

Other loans

-

290,602

Amounts falling due between two and five years:

Other loans - 2-5 years

800,000

-

The loan is secured by a first legal charge over the company's property stock, debenture over over the company's other assets and unlimited personal guarantee from the Directors.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary share capital

1.00

100

100

10.

RESERVES

Retained

earnings

£

At 1 April 2019

(182,755

)

Deficit for the year

(17,574

)

At 31 March 2020

(200,329

)

11.	RELATED PARTY DISCLOSURES

Included in creditors over one year is an amount due of £801,900 (2019: £1,294,900) to the directors of the company. Loan interest of £19,835 were paid during the year to one of the directors.

Purchases totalling £21,086 (2019: £nil) were made from Roundhouse Design Limited, a company in which C J Matson is a director.

12.	ULTIMATE CONTROLLING PARTY