Rocket Rentals Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04210024 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018

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

4,873,047

3,628,363

CURRENT ASSETS

Debtors

5

1,258,178

1,187,971

Cash at bank and in hand

285,139

107,912

1,543,317

1,295,883

CREDITORS

Amounts falling due within one year

6

1,575,910

1,430,138

NET CURRENT LIABILITIES

(32,593

)

(134,255

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,840,454

3,494,108

CREDITORS

Amounts falling due after more than one year

7

(2,584,531

)

(1,553,350

)

PROVISIONS FOR LIABILITIES

(181,392

)

(118,173

)

NET ASSETS

2,074,531

1,822,585

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

2,074,431

1,822,485

SHAREHOLDERS' FUNDS

2,074,531

1,822,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 23 October 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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 23 (2017 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 July 2017

910,865

5,376,006

6,286,871

Additions

-

2,708,623

Disposals

(265,292

)

(1,190,538

)

(1,455,830

)

At 30 June 2018

645,573

6,894,091

7,539,664

DEPRECIATION

At 1 July 2017

211,240

2,447,268

2,658,508

Charge for year

54,052

862,060

916,112

Eliminated on disposal

(265,292

)

(642,711

)

(908,003

)

At 30 June 2018

-

2,666,617

NET BOOK VALUE

At 30 June 2018

645,573

4,227,474

4,873,047

At 30 June 2017

699,625

2,928,738

3,628,363

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

Plant and

machinery

etc

£

COST

At 1 July 2017

4,379,978

Additions

2,682,045

Disposals

(1,149,288

)

Transfer to ownership

(48,761

)

At 30 June 2018

5,863,974

DEPRECIATION

At 1 July 2017

1,638,344

Charge for year

799,114

Eliminated on disposal

(601,461

)

Transfer to ownership

(29,256

)

At 30 June 2018

1,806,741

NET BOOK VALUE

At 30 June 2018

4,057,233

At 30 June 2017

2,741,634

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

Trade debtors

662,060

613,774

Amounts owed by group undertakings

558,714

565,855

Other debtors

37,404

8,342

1,258,178

1,187,971

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

Hire purchase contracts

1,178,851

1,025,815

Trade creditors

236,812

179,606

Taxation and social security

69,007

149,042

Other creditors

91,240

75,675

1,575,910

1,430,138

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.6.18

30.6.17

£

Hire purchase contracts

2,584,531

1,553,350

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.18

30.6.17

£

Hire purchase contracts

3,763,382

2,579,165

9.	RELATED PARTY DISCLOSURES

The company is 100% owned by Rocket (Holdings) Ltd which is under the control of its director S J Tomblin and

his wife.

The company is leasing assets from Rocket (Holdings) Ltd at an arms length value and was charged £69,360 in the

year to 30th June 2018(2017- £69,360).As at 30th June 2018 the balance due from Rocket (Holdings) Ltd was

£558,714.(2017- £565,955)

The company is leasing land from S J Tomblin and his wife on an arms length basis and was charged £36,750 in

the year to 30th June 2018(2017- £24,000). There was no balance outstanding at the year end.