ROCKET_LEISURE_(VENN_STRE - Accounts

ROCKET LEISURE (VENN STREET) LTD - Company Information

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Company Registration No. 07375558 (England and Wales)

ROCKET LEISURE (VENN STREET) LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

ROCKET LEISURE (VENN STREET) LTD

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

2 - 3

Notes to the abbreviated accounts

4 - 6

ROCKET LEISURE (VENN STREET) LTD

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ROCKET LEISURE (VENN STREET) LTD FOR THE YEAR ENDED 31 MARCH 2016

- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rocket Leisure (Venn Street) Ltd for the year ended 31 March 2016 set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Rocket Leisure (Venn Street) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Rocket Leisure (Venn Street) Ltd and state those matters that we have agreed to state to the Board of Directors of Rocket Leisure (Venn Street) Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rocket Leisure (Venn Street) Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Rocket Leisure (Venn Street) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rocket Leisure (Venn Street) Ltd. You consider that Rocket Leisure (Venn Street) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rocket Leisure (Venn Street) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore and Smalley LLP

Chartered Accountants

Kendal House

Murley Moss Business Village

Oxenholme Road

Kendal

LA9 7RL

20 December 2016

ROCKET LEISURE (VENN STREET) LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

211,294

159,315

Current assets

Stocks

7,790

4,069

Debtors

216,550

185,982

Cash at bank and in hand

94,970

75,970

319,310

266,021

Creditors: amounts falling due within one year

(357,494)

(284,438)

Net current liabilities

(38,184)

(18,417)

Total assets less current liabilities

173,110

140,898

Creditors: amounts falling due after more than one year

(1,936)

Provisions for liabilities

(37,042)

(24,770)

134,132

116,128

Capital and reserves

Called up share capital

100

Profit and loss account

134,032

116,028

Shareholders' funds

134,132

116,128

ROCKET LEISURE (VENN STREET) LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 3 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 December 2016

Mr H C Taylor

Director

Company Registration No. 07375558

ROCKET LEISURE (VENN STREET) LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

18 years straight line

Plant and machinery

25 years reducing balance

Fixtures, fittings & equipment

25 years reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

ROCKET LEISURE (VENN STREET) LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 5 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

239,790

Additions

74,574

Disposals

(5,492)

At 31 March 2016

308,872

Depreciation

At 1 April 2015

80,475

On disposals

(112)

Charge for the year

17,215

At 31 March 2016

97,578

Net book value

At 31 March 2016

211,294

At 31 March 2015

159,315

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £10,582 (2015 - £0).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £1,936 (2015 - £0).

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100

ROCKET LEISURE (VENN STREET) LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 6 -

Directors' benefits: Advances, credits and guarantees

Mr R C Taylor, a director of the company has a loan account against which personal expenditure and drawings may be charged. The loan account was overdrawn at 31 March 2016 by £889 (2015 £889).

During the period the maximum overdrawn balance on the loan was £889 (2015 £889).

The loan was unsecured.

No interest was charged by the company for the period when the loan account was overdrawn.