Rock & Co. Granite Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06584527 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2023

for

Rock & Co. Granite Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

5

DIRECTORS:

A D Morgan

R C Morgan

REGISTERED OFFICE:

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

REGISTERED NUMBER:

06584527 (England and Wales)

ACCOUNTANTS:

Philip T. Chave & Co

Belfry House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

986,283

1,059,640

986,283

1,059,640

CURRENT ASSETS

Stocks

1,100,000

950,000

Debtors

253,942

1,398,794

Cash at bank and in hand

3,337

24,216

1,357,279

2,373,010

CREDITORS

Amounts falling due within one year

1,375,171

2,337,144

NET CURRENT (LIABILITIES)/ASSETS

(17,892

)

35,866

TOTAL ASSETS LESS CURRENT LIABILITIES

968,391

1,095,506

CREDITORS

Amounts falling due after more than one year

6

(759,539

)

(766,548

)

PROVISIONS FOR LIABILITIES

8

(38,047

)

(49,403

)

NET ASSETS

170,805

279,555

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

170,605

279,355

SHAREHOLDERS' FUNDS

170,805

279,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2024 and were signed on its behalf by:

A D Morgan - Director

1.	STATUTORY INFORMATION

Rock & Co. Granite 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Freehold property

-

No depreciation

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2022

and 31 May 2023

45,000

AMORTISATION

At 1 June 2022

and 31 May 2023

45,000

NET BOOK VALUE

At 31 May 2023

-

At 31 May 2022

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2022

1,809,067

Additions

1,367

At 31 May 2023

1,810,434

DEPRECIATION

At 1 June 2022

749,427

Charge for year

74,724

At 31 May 2023

824,151

NET BOOK VALUE

At 31 May 2023

986,283

At 31 May 2022

1,059,640

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

Totals

£

COST

At 1 June 2022

699,221

Transfer to ownership

(213,950

)

At 31 May 2023

485,271

DEPRECIATION

At 1 June 2022

448,413

Charge for year

56,432

Transfer to ownership

(169,272

)

At 31 May 2023

335,573

NET BOOK VALUE

At 31 May 2023

149,698

At 31 May 2022

250,808

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.5.23

31.5.22

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

656,690

655,992

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.23

31.5.22

£

£

Bank loans

656,690

655,992

Bank Loans are secured by way of a fixed and floating charge over all the assets of the company.

8.	PROVISIONS FOR LIABILITIES

31.5.23

31.5.22

£

£

Deferred tax

38,047

49,403

Deferred

tax

£

Balance at 1 June 2022

49,403

Credit to Income Statement during year

(11,356

)

Balance at 31 May 2023

38,047

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.23

31.5.22

value:

£

£

100

Ordinary

£1

100

100

50

"A"

£1

50

50

50

"B"

£1

50

50

200

200