ACCOUNTS - Final Accounts

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-01-01falseNo description of principal activity22truetrue 03856674 2021-01-01 2021-12-31 03856674 2020-01-01 2020-12-31 03856674 2021-12-31 03856674 2020-12-31 03856674 c:Director1 2021-01-01 2021-12-31 03856674 d:PlantMachinery 2021-01-01 2021-12-31 03856674 d:PlantMachinery 2021-12-31 03856674 d:PlantMachinery 2020-12-31 03856674 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03856674 d:CurrentFinancialInstruments 2021-12-31 03856674 d:CurrentFinancialInstruments 2020-12-31 03856674 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03856674 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 03856674 d:ShareCapital 2021-12-31 03856674 d:ShareCapital 2020-12-31 03856674 d:RetainedEarningsAccumulatedLosses 2021-12-31 03856674 d:RetainedEarningsAccumulatedLosses 2020-12-31 03856674 c:FRS102 2021-01-01 2021-12-31 03856674 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 03856674 c:FullAccounts 2021-01-01 2021-12-31 03856674 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 03856674 2 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 03856674

ROCKSALT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

ROCKSALT LIMITED

REGISTERED NUMBER: 03856674

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		1,174		1
			1,174		1
Current assets
Debtors: amounts falling due within one year	5	10,443		24,827
Cash at bank and in hand	6	91,661		106,700
		102,104		131,527
Creditors: amounts falling due within one year	7	(12,866)		(41,012)
Net current assets			89,238		90,515
Total assets less current liabilities			90,412		90,516

Net assets			90,412		90,516

Capital and reserves
Called up share capital	100	100
Profit and loss account	90,312	90,416
	90,412	90,516

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2022.

Mr H C Vivian

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ROCKSALT LIMITED

REGISTERED NUMBER: 03856674

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2021

Director

The notes on pages 3 to 7 form part of these financial statements.

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ROCKSALT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

Rocksalt is a private company, limited by shares and registered in England.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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ROCKSALT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery

33.3% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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ROCKSALT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

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ROCKSALT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 January 2021	9,466
	Additions	1,751
	At 31 December 2021	11,217
	Depreciation
	At 1 January 2021	9,465
	Charge for the year on owned assets	578
	At 31 December 2021	10,043
	Net book value
	At 31 December 2021	1,174
	At 31 December 2020	1

Debtors

					2021	2020
					£	£


Trade debtors	6,726	8,550
Other debtors	3,717	15,750
Prepayments and accrued income	-	527
	10,443	24,827

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	91,661	106,700
	91,661	106,700

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ROCKSALT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank loans	-	21,000
Corporation tax	4,375	3,062
Other taxation and social security	3,861	4,757
Other creditors	3,490	11,053
Accruals and deferred income	1,140	1,140
	12,866	41,012

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