Priority Rocks Ltd,Ltd - AccountsLtd - Accounts

Priority Rocks Ltd,Ltd - AccountsLtd - Accounts

PRIORITY ROCKS LTD - Company Information

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2021-08-01 08308992 2022-07-31 08308992 2021-08-01 2022-07-31 08308992 2021-07-31 08308992 2020-08-01 2021-07-31 08308992 uk-core:WithinOneYear 2021-07-31 08308992 uk-core:WithinOneYear 2022-07-31 08308992 uk-core:ShareCapital 2022-07-31 08308992 uk-core:ShareCapital 2021-07-31 08308992 uk-core:RetainedEarningsAccumulatedLosses 2022-07-31 08308992 uk-core:RetainedEarningsAccumulatedLosses 2021-07-31 08308992 uk-bus:Director1 2021-08-01 2022-07-31 08308992 uk-core:PlantMachinery 2021-08-01 2022-07-31 08308992 uk-core:ComputerEquipment 2021-08-01 2022-07-31 08308992 uk-core:FurnitureFittings 2021-08-01 2022-07-31 08308992 uk-core:PlantMachinery 2022-07-31 08308992 uk-core:FurnitureFittings 2022-07-31 08308992 uk-core:ComputerEquipment 2022-07-31 iso4217:GBP xbrli:pure 08308992 uk-bus:AuditExemptWithAccountantsReport 2021-08-01 2022-07-31 08308992 uk-bus:FRS102 2021-08-01 2022-07-31 08308992 uk-bus:FullAccounts 2021-08-01 2022-07-31 08308992 uk-bus:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31
Priority Rocks Ltd
Registered Number:08308992
For the year ended 31 July 2022
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2022
Priority Rocks Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
08308992
As at 31 July 2022
Priority Rocks Ltd
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
Property, plant and equipment
3,974
-
2
3,974
-
Current assets
106,695
Cash and cash equivalents
154,169
154,169
106,695
Trade and other payables: amounts falling due within one year
(17,705)
(48,801)
3
88,990
105,368
Net current assets
Total assets less current liabilities
109,342
88,990
109,342
Net assets
88,990
Capital and reserves
Called up share capital
100
100
Retained earnings
109,242
88,890
109,342
88,990
Shareholders' funds
For the year ended 31 July 2022 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 of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr S L Howie Director
These financial statements were approved and authorised for issue by the Board on 08 March 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 July 2022
Priority Rocks Ltd
Notes to the Financial Statements
Statutory Information
Priority Rocks Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number 08308992.
Registered address:
64 Kenwood Drive
Beckenham
BR3 6QZ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have
been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
25% Reducing balance
Computer equipment
25% Reducing balance
Fixtures and fittings
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Plant and
machinery
£
£
£
£
Cost or valuation
5,300
850
500
3,950
Additions
At 31 July 2022
3,950
500
850
5,300
Provision for depreciation and impairment
Charge for year
1,326
213
125
988
At 31 July 2022
1,326
213
125
988
At 31 July 2022
Net book value
2,962
375
637
3,974
2 of 3
5
For the year ended 31 July 2022
Priority Rocks Ltd
Notes to the Financial Statements Continued
3. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Trade creditors
114
126
Taxation and social security
16,055
5,627
Other creditors
32,632
11,952
48,801
17,705
4. Average number of persons employed
During the year the average number of employees was 1 (2021 : 1)
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