Roc Skincare (UK) Limited - Period Ending 2021-12-31

Roc Skincare (UK) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

Roc Skincare (UK) Limited

Company Information

Directors

FJ Acosta J Brandimarte YD Ignatova S Lamonte

Registered office

First Floor Templeback 10 Temple Back Bristol BS1 6FL

Registered number

11898161

Auditors

Corrigan Accountants Limited 1st Floor 25 King Street Bristol BS1 4PB

Roc Skincare (UK) Limited

(Registration number: 11898161)
Balance Sheet as at 31 December 2021

	Note	2021 $	2020 $
Fixed assets
Tangible assets	4	372	727
Current assets
Debtors	5	6,261	3,392
Creditors: Amounts falling due within one year	6	(4,278,814)	(2,175,129)
Net current liabilities		(4,272,553)	(2,171,737)
Net liabilities		(4,272,181)	(2,171,010)
Capital and reserves
Called up share capital		1	1
Share based payments reserve		63,972	29,923
Profit and loss account		(4,336,154)	(2,200,934)
Total equity		(4,272,181)	(2,171,010)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 30 September 2022 and signed on its behalf by:
 

.........................................

J Brandimarte
Director

Roc Skincare (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

1	Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
First Floor
Templeback
10 Temple Back
Bristol
BS1 6FL
United Kingdom

2	Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in US Dollars which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest $.

Going concern

The financial statements are prepared on the basis that the company is a going concern. The company is reliant on the ongoing support of the wider group to be able to meet liabilities as they fall due. The directors of the company have received confirmation from the parent company that the parent will continue its support for a period no shorter than twelve months from the date of approval of these financial statements. Accordingly, these financial statements have been prepared on the going concern basis.

Reporting period

The current accounting period presented to 31 December 2021 is a twelve month period. The comparative amounts presented in these financial statements (including the related notes) are for the nine month period ended 31 December 2020 and are therefore not directly comparable to the amounts presented for the current period.

Roc Skincare (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Foreign currency transactions and balances

Monetary assets and liabilities in foreign currencies are translated into US Dollars at the rates of exchange prevailing at the balance sheet date. Transactions in foreign currencies are translated into US Dollars at the rate of exchange prevailing at the date of the transaction.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Amounts due to group undertakings

Amounts due to group undertakings are repayable on demand and therefore are measured at transaction value.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Computer equipment	Straight-line over 3 years

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due.

Roc Skincare (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitiled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Share based payments

Some of the company's employees have been granted options over the unissued share capital of the ultimate parent company. The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured based on company specific observable market data, taking into account the terms and conditions upon which the awards are granted. The amount recognised as an expense is adjusted at each period end to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2020 - 5).

Roc Skincare (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

4	Tangible fixed assets

	Computer equipment  $	Total $
Cost
At 1 January 2021	1,118	1,118
At 31 December 2021	1,118	1,118
Depreciation
At 1 January 2021	391	391
Charge for the year	355	355
At 31 December 2021	746	746
Carrying amount
At 31 December 2021	372	372
At 31 December 2020	727	727

5	Debtors: amounts falling due within one year

	2021 $	2020 $
Prepayments	6,261	3,392
	6,261	3,392

6

Creditors

	2021 $	2020 $
Amounts falling due within one year
Amounts owed to group undertakings	3,769,677	1,848,041
Taxation and social security	39,801	33,589
Accruals	469,336	293,499
	4,278,814	2,175,129

Roc Skincare (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

7	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	$	No.	$
100 Ordinary shares of £0.01 each	100	1	100	1.00

8	Share-based payments

The company has applied the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning the equity instruments of another group entity. The share based expense for the period is $34,049 (2020 - $24,659).

9	Parent company and ultimate parent company

The company’s immediate parent undertaking is RoC Opco LLC, a company incorporated in the USA. The ultimate parent undertaking is RoC Parent LLC, incorporated in the USA.

The parent undertaking of the largest and smallest group in which this company’s financial statements are consolidated is RoC Holdco LLC, incorporated in the USA.

The address of RoC Opco LLC, RoC Parent LLC and RoC Holdco LLC is 261 Madison Avenue, 16th Floor, New York, NY 10016, USA.
 

10	Audit report

As the profit and loss account has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

• The audit report was unqualified.
• The senior statutory auditor who signed the audit report on 30 September 2022 was Stuart Crisp BSc FCA.
• The auditor was Corrigan Accountants Limited.