ACCOUNTS - Final Accounts preparation

Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

ROJO PROJECT LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-312022-10-314false2021-11-01No description of principal activity4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12292224 2021-11-01 2022-10-31 12292224 2020-11-01 2021-10-31 12292224 2022-10-31 12292224 2021-10-31 12292224 c:Director1 2021-11-01 2022-10-31 12292224 d:MotorVehicles 2021-11-01 2022-10-31 12292224 d:MotorVehicles 2022-10-31 12292224 d:MotorVehicles 2021-10-31 12292224 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 12292224 d:OfficeEquipment 2021-11-01 2022-10-31 12292224 d:OfficeEquipment 2022-10-31 12292224 d:OfficeEquipment 2021-10-31 12292224 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 12292224 d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 12292224 d:CurrentFinancialInstruments 2022-10-31 12292224 d:CurrentFinancialInstruments 2021-10-31 12292224 d:Non-currentFinancialInstruments 2022-10-31 12292224 d:Non-currentFinancialInstruments 2021-10-31 12292224 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12292224 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 12292224 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 12292224 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 12292224 d:ShareCapital 2022-10-31 12292224 d:ShareCapital 2021-10-31 12292224 d:RetainedEarningsAccumulatedLosses 2022-10-31 12292224 d:RetainedEarningsAccumulatedLosses 2021-10-31 12292224 c:FRS102 2021-11-01 2022-10-31 12292224 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 12292224 c:FullAccounts 2021-11-01 2022-10-31 12292224 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 12292224 d:HirePurchaseContracts d:WithinOneYear 2022-10-31 12292224 d:HirePurchaseContracts d:WithinOneYear 2021-10-31 12292224 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-10-31 12292224 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-10-31 12292224 2 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure

Registered number: 12292224

ROJO PROJECT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2022

ROJO PROJECT LIMITED

REGISTERED NUMBER: 12292224

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		33,308		666
			33,308		666
Current assets
Debtors: amounts falling due within one year	5	16,149		10,000
Cash at bank and in hand		12,736		12,874
		28,885		22,874
Creditors: amounts falling due within one year	6	(30,293)		(23,054)
Net current liabilities			(1,408)		(180)
Total assets less current liabilities			31,900		486
Creditors: amounts falling due after more than one year	7		(31,530)		-

Net assets			370		486

Capital and reserves
Called up share capital	4	4
Profit and loss account	366	482
	370	486

Page 1

ROJO PROJECT LIMITED

REGISTERED NUMBER: 12292224

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2022

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 statement of income and retained earnings 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 19 July 2023.

R A Stewart

Director

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

Page 2

ROJO PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

1.Accounting policies

1.1

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:

1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

1.3

Interest income

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

1.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

1.5

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 reporting date in the countries where the Company operates and generates income.

Page 3

ROJO PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

1.Accounting policies (continued)

1.6

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, on a reducing balance basis.

Depreciation is provided on the following basis:

				Motor vehicles	-	25%	reducing balance
				Office equipment	-	33%	reducing balance

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.

1.7

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.

1.8

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.

1.9

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.

1.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Page 4

ROJO PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

1.Accounting policies (continued)

1.10

Financial instruments (continued)

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

1.11

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.

2.	General information

Rojo Project Limited is a private company, limited by shares and registered in England.
Its registered number is: 12292224
Its Registered Office is:
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).

Page 5

ROJO PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

4.	Tangible fixed assets

	Motor vehicles	Office equipment	Total
	£	£	£
Cost or valuation
At 1 November 2021	-	999	999
Additions	43,819	-	43,819
At 31 October 2022	43,819	999	44,818
Depreciation
At 1 November 2021	-	333	333
Charge for the year on owned assets	10,955	222	11,177
At 31 October 2022	10,955	555	11,510
Net book value
At 31 October 2022	32,864	444	33,308
At 31 October 2021	-	666	666

Debtors

					2022	2021
					£	£


Amounts owed by joint ventures and associated undertakings	12,680	10,000
Other debtors	3,469	-
	16,149	10,000

Page 6

ROJO PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	8,124	510
Corporation tax	13,903	21,338
Other taxation and social security	987	-
Obligations under finance lease and hire purchase contracts	6,029	-
Other creditors	-	6
Accruals and deferred income	1,250	1,200
	30,293	23,054

7.	Creditors: Amounts falling due after more than one year
		2022	2021
		£	£

Net obligations under finance leases and hire purchase contracts	31,530	-
	31,530	-

Within one year	6,029	-
Between 1-5 years	31,530	-
	37,559	-

Page 7