Rocket Rentals Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04210024 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

ROCKET RENTALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J Tomblin

REGISTERED OFFICE:

Area 51

Bristol Road

Slimbridge

Gloucestershire

GL2 7DW

REGISTERED NUMBER:

04210024 (England and Wales)

ACCOUNTANTS:

Shiner Mitchell Fisher & Co Ltd

Smith House

George Street

Nailsworth

Stroud

Gloucestershire

GL6 0AG

FIXED ASSETS

Tangible assets

4

7,153,846

5,668,521

CURRENT ASSETS

Debtors

5

604,910

601,287

Cash at bank and in hand

966,432

629,609

1,571,342

1,230,896

CREDITORS

Amounts falling due within one year

6

1,695,863

1,500,974

NET CURRENT LIABILITIES

(124,521

)

(270,078

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,029,325

5,398,443

CREDITORS

Amounts falling due after more than one year

7

(3,792,916

)

(2,941,353

)

PROVISIONS FOR LIABILITIES

(751,645

)

(244,942

)

NET ASSETS

2,484,764

2,212,148

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,484,664

2,212,048

SHAREHOLDERS' FUNDS

2,484,764

2,212,148

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2023 and were signed by:

S J Tomblin - Director

1.	STATUTORY INFORMATION

Rocket Rentals Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 15% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2022

645,573

9,364,096

10,009,669

Additions

-

4,620,711

4,620,711

Disposals

-

(3,766,800

)

(3,766,800

)

At 30 June 2023

645,573

10,218,007

10,863,580

DEPRECIATION

At 1 July 2022

51,645

4,289,503

4,341,148

Charge for year

12,912

1,146,847

1,159,759

Eliminated on disposal

-

(1,791,173

)

(1,791,173

)

At 30 June 2023

64,557

3,645,177

3,709,734

NET BOOK VALUE

At 30 June 2023

581,016

6,572,830

7,153,846

At 30 June 2022

593,928

5,074,593

5,668,521

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 July 2022

7,688,491

Additions

4,089,984

Disposals

(3,177,656

)

Transfer to ownership

(1,032,314

)

At 30 June 2023

7,568,505

DEPRECIATION

At 1 July 2022

3,060,313

Charge for year

1,051,777

Eliminated on disposal

(1,612,430

)

Transfer to ownership

(800,349

)

At 30 June 2023

1,699,311

NET BOOK VALUE

At 30 June 2023

5,869,194

At 30 June 2022

4,628,178

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade debtors

584,834

568,998

Other debtors

20,076

32,289

604,910

601,287

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Hire purchase contracts

1,466,288

1,302,262

Trade creditors

196,711

166,712

Other creditors

32,864

32,000

1,695,863

1,500,974

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.23

30.6.22

£

£

Hire purchase contracts

3,792,916

2,941,353

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.23

30.6.22

£

£

Hire purchase contracts

5,259,204

4,243,615

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £101,350 were paid to the director .