Company Registration No. 03657331 (England and Wales)
Rock Sound Ltd
Unaudited accounts
for the year ended 31 December 2021
Rock Sound Ltd
Unaudited accounts
Contents
Rock Sound Ltd
Company Information
for the year ended 31 December 2021
Directors
S J S Simmons
G J Gourlay
Company Number
03657331 (England and Wales)
Registered Office
Unit 3 Boleyn Business Suite
Hever Castle Golf Club
Hever Road, Edenbridge
Kent
TN8 7NP
Accountants
Clearfin Accountants Limited
Churchill House
137-139 Brent Street
London
NW4 4DJ
Rock Sound Ltd
Statement of financial position
as at 31 December 2021
Cash at bank and in hand
60,446
39,448
Creditors: amounts falling due within one year
(210,865)
(204,366)
Net current liabilities
(107,134)
(48,972)
Total assets less current liabilities
(106,715)
(47,697)
Creditors: amounts falling due after more than one year
(34,167)
(50,000)
Net liabilities
(140,882)
(97,697)
Called up share capital
802,068
802,068
Profit and loss account
(942,950)
(899,765)
Shareholders' funds
(140,882)
(97,697)
For the year ending 31 December 2021 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 26 September 2022 and were signed on its behalf by
S J S Simmons
Director
Company Registration No. 03657331
Rock Sound Ltd
Notes to the Accounts
for the year ended 31 December 2021
Rock Sound Ltd is a private company, limited by shares, registered in England and Wales, registration number 03657331. The registered office is Unit 3 Boleyn Business Suite, Hever Castle Golf Club, Hever Road, Edenbridge, Kent, TN8 7NP.
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.
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.
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:
Plant & machinery
3 years straight line
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due. The directors expect an upturn in future trade that would improve the company's profitability. Group companies have also expressed a willingness to support the company.
Rock Sound Ltd
Notes to the Accounts
for the year ended 31 December 2021
4
Tangible fixed assets
Plant & machinery
At 31 December 2021
40,275
At 31 December 2021
39,856
Finished goods
28,427
18,620
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
10,495
63,521
Accrued income and prepayments
203
11,073
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
10,000
-
Trade creditors
55,550
81,969
Taxes and social security
100,696
58,533
Other creditors
20,921
16,636
8
Creditors: amounts falling due after more than one year
2021
2020
Rock Sound Ltd
Notes to the Accounts
for the year ended 31 December 2021
9
Average number of employees
During the year the average number of employees was 5 (2020: 7).
