Rooster Punk Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11020219 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Rooster Punk Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Trezona

P Cash

REGISTERED OFFICE:

77A Alma Road

Clifton

Bristol

BS8 2DP

REGISTERED NUMBER:

11020219 (England and Wales)

ACCOUNTANTS:

Kingscote Accountancy Limited

77A Alma Road

Clifton

Bristol

BS8 2DP

FIXED ASSETS

Intangible assets

4

49,993

64,834

Tangible assets

5

9,971

57,276

59,964

122,110

CURRENT ASSETS

Debtors

6

308,556

392,859

Prepayments and accrued income

-

30,780

Cash at bank

232,418

9,943

540,974

433,582

CREDITORS

Amounts falling due within one year

7

473,893

398,606

NET CURRENT ASSETS

67,081

34,976

TOTAL ASSETS LESS CURRENT LIABILITIES

127,045

157,086

CREDITORS

Amounts falling due after more than one year

8

36,993

90,070

NET ASSETS

90,052

67,016

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

89,952

66,916

90,052

67,016

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 10 June 2022 and were signed on its behalf by:

J Trezona - Director

1.	STATUTORY INFORMATION

Rooster Punk Group 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 15% on reducing balance

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 16 (2020 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

74,204

AMORTISATION

At 1 January 2021

9,370

Charge for year

14,841

At 31 December 2021

24,211

NET BOOK VALUE

At 31 December 2021

49,993

At 31 December 2020

64,834

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

99,328

Additions

12,638

Disposals

(87,930

)

At 31 December 2021

24,036

DEPRECIATION

At 1 January 2021

42,052

Charge for year

10,668

Eliminated on disposal

(38,655

)

At 31 December 2021

14,065

NET BOOK VALUE

At 31 December 2021

9,971

At 31 December 2020

57,276

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

255,692

237,725

Amounts owed by group undertakings

44,324

149,330

Other debtors

8,540

5,804

308,556

392,859

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Hire purchase contracts

-

5,829

Trade creditors

100,707

62,033

Taxation and social security

139,998

203,710

Other creditors

233,188

127,034

473,893

398,606

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Hire purchase contracts

-

40,070

Other creditors

36,993

50,000

36,993

90,070

9.	RELATED PARTY DISCLOSURES

During the year J Trezona introduced a working capital of £33,500 (2020 £15,054). As at the year end Rooster Punk Group Ltd owed J Trezona £135 (2020: £4,314).

During the year P Cash introduced a working capital of £Nil (2020: £Nil). As at the year end Rooster Punk Group Ltd owed P Cash £183 (2020:£521).

As at the year-end, Flamingo Punk Ltd owes Rooster Punk Group Limited £31,457 (2020 £144,060).

Eagle Punk Ltd owes Rooster Punk Group £2,867 (2020: 5,271).

Both Flamingo Punk Ltd and Eagle Punk Ltd are connected companies by virtue of their Directors P Cash and J Trezona.