Registration number:
Undercover Rock Limited
for the Year Ended 30 September 2022
Pages for filing with Registrar
Undercover Rock Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Undercover Rock Limited
Company Information
Directors |
R M Emerson P Twomey A F Cassidy R I Sutton |
Registered office |
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Registered number |
02599639 |
Accountants |
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Undercover Rock Limited
(Registration number: 02599639)
Balance Sheet as at 30 September 2022
Note |
2022 |
2021 |
|
Fixed assets |
|||
Tangible assets |
- |
|
|
Current assets |
|||
Stocks |
- |
10,228 |
|
Debtors |
- |
|
|
Cash at bank and in hand |
- |
|
|
- |
|
||
Creditors: Amounts falling due within one year |
- |
( |
|
Net current liabilities |
- |
( |
|
Total assets less current liabilities |
- |
|
|
Creditors: Amounts falling due after more than one year |
- |
( |
|
Net liabilities |
- |
( |
|
Capital and reserves |
|||
Called up share capital |
201 |
201 |
|
Share premium reserve |
2,900 |
2,900 |
|
Capital redemption reserve |
919 |
919 |
|
Capital contribution reserve |
|
- |
|
Profit and loss account |
(14,062) |
(21,349) |
|
Total equity |
- |
(17,329) |
Undercover Rock Limited
(Registration number: 02599639)
Balance Sheet as at 30 September 2022
For the financial year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
Undercover Rock Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The company’s financial statements have been prepared on a going concern basis. The directors have considered a period of twelve months from the date of approval of the financial statements and will continue to support the company as needed for it to be able to meet liabilities as they fall due.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Undercover Rock Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022
Deferred tax
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible fixed assets
Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Plant and machinery |
20% straight line |
Property |
20% straight line |
Climbing wall |
20% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Undercover Rock Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022
Employee benefits
The costs of short-term employee benefits, including the cost of any unused holiday entitlement, are recognised as a liability and an expense in the period in which the employees' services are received.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible fixed assets |
Property |
Climbing wall |
Plant and machinery |
Total |
|
Cost |
||||
At 1 October 2021 |
|
|
|
|
Transfers |
( |
( |
( |
( |
At 30 September 2022 |
- |
- |
- |
- |
Depreciation |
||||
At 1 October 2021 |
|
|
|
|
Charge for the year |
|
|
|
|
Transfers |
( |
( |
( |
( |
At 30 September 2022 |
- |
- |
- |
- |
Carrying amount |
||||
At 30 September 2022 |
- |
- |
- |
- |
At 30 September 2021 |
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|
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Stocks |
2022 |
2021 |
|
Stock |
- |
|
Undercover Rock Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022
Debtors: amounts falling due within one year |
2022 |
2021 |
|
Trade debtors |
- |
|
Prepayments |
- |
3,560 |
Other debtors |
- |
|
- |
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Creditors |
Note |
2022 |
2021 |
|
Amounts falling due within one year |
|||
Bank loans and overdrafts |
- |
|
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Trade creditors |
- |
|
|
Taxation and social security |
- |
|
|
Accruals and deferred income |
- |
|
|
- |
|
2022 |
2021 |
|
Due after one year |
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Bank borrowings |
- |
40,000 |
The bank loan is the government backed Business Bounce Back loan, an unsecured loan with a flexible repayment term of 10 years with interest charged at 2.5%. Repayments commenced in October 2021.
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
|||
No. |
£ |
No. |
£ |
|
|
|
201 |
|
201 |
Undercover Rock Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022
Reserves |
On 1 March 2022, the trade and assets of the company were hived up into the parent company, The Climbing Academy Group Limited. The net liabilities of £10,042 were subsequently written off and transferred to the capital contribution reserve.