Rockscape Contract Services Ltd - Period Ending 2016-06-30

Registration number: 06749936

Rockscape Contract Services Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

Rockscape Contract Services Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Rockscape Contract Services Ltd
(Registration number: 06749936)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					447,201			232,169
Current assets
Stocks					41,793			31,218
Debtors					76,569			5,103
Cash at bank and in hand					168,090			170,721
					286,452			207,042
Creditors: Amounts falling due within one year					(154,722)			(104,500)
Net current assets					131,730			102,542
Total assets less current liabilities					578,931			334,711
Creditors: Amounts falling due after more than one year					(771,755)			(448,156)
Provisions for liabilities					-			(4,434)
Net liabilities					(192,824)			(117,879)
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(192,826)			(117,881)
Shareholders' deficit					(192,824)			(117,879)

For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 7 March 2017 and signed on its behalf by:

.........................................
Mr T R Bletcher
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Rockscape Contract Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

At 30 June 2016 the companies liabilities exceeded its assets. Included within liabilities are directors loans totalling £648,156. As the directors control the repayment terms of these balances it is highly unlikely that this support of the company will be removed.

The directors consider it appropriate to prepare these financial statements on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance
Motor vehicles	25% reducing balance
Computer equipment	20% on cost
Plant and machinery	15% reducing balance

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks

Page 2

Rockscape Contract Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Rockscape Contract Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2015		233,632			233,632
Additions		520,775			520,775
Disposals		(270,850)			(270,850)
At 30 June 2016		483,557			483,557
Depreciation
At 1 July 2015		1,463			1,463
Charge for the year		40,285			40,285
Eliminated on disposals		(5,392)			(5,392)
At 30 June 2016		36,356			36,356
Net book value
At 30 June 2016		447,201			447,201
At 30 June 2015		232,169			232,169

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 4