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Registration number: 05288792

C M Rowlinson Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2021

 

C M Rowlinson Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

C M Rowlinson Limited

Company Information

Directors

DE Rowlinson

CM Rowlinson

Company secretary

DE Rowlinson

Registered office

18 - 20 Moorland Road
Burslem
Stoke On Trent
ST6 1DW

 

C M Rowlinson Limited

(Registration number: 05288792)
Balance Sheet as at 30 November 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

5

339,039

337,868

Current assets

 

Stocks

6

48,250

48,250

Debtors

7

88,354

159,833

Cash at bank and in hand

 

173,890

176,001

 

310,494

384,084

Creditors: Amounts falling due within one year

8

(46,223)

(145,806)

Net current assets

 

264,271

238,278

Total assets less current liabilities

 

603,310

576,146

Provisions for liabilities

(49,926)

(49,704)

Net assets

 

553,384

526,442

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

553,284

526,342

Shareholders' funds

 

553,384

526,442

For the financial year ending 30 November 2021 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 accounts for the year in question in accordance with section 476; and

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.

Approved and authorised by the Board on 19 August 2022 and signed on its behalf by:
 

.........................................
DE Rowlinson
Company secretary and director

   
     
 

C M Rowlinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
18 - 20 Moorland Road
Burslem
Stoke On Trent
ST6 1DW
England

These financial statements were authorised for issue by the Board on 19 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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 in the countries where the company operates and generates taxable income.

 

C M Rowlinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Vehicles, plant and machinery

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

C M Rowlinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2020 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2021
£

2020
£

Depreciation expense

85,359

81,200

 

C M Rowlinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2020

76,269

458,289

59,250

349,598

943,406

Additions

-

99,930

-

11,839

111,769

Disposals

-

(34,539)

-

(5,100)

(39,639)

At 30 November 2021

76,269

523,680

59,250

356,337

1,015,536

Depreciation

At 1 December 2020

-

296,189

33,634

275,715

605,538

Charge for the year

-

60,473

6,404

18,482

85,359

Eliminated on disposal

-

(14,400)

-

-

(14,400)

At 30 November 2021

-

342,262

40,038

294,197

676,497

Carrying amount

At 30 November 2021

76,269

181,418

19,212

62,140

339,039

At 30 November 2020

76,269

162,100

25,616

73,883

337,868

Included within the net book value of land and buildings above is £76,269 (2020 - £76,269) in respect of freehold land and buildings.
 

 

C M Rowlinson Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

6

Stocks

2021
£

2020
£

Other inventories

48,250

48,250

7

Debtors

Current

2021
£

2020
£

Trade debtors

88,354

149,866

Other debtors

-

9,967

 

88,354

159,833

8

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

13,186

28,903

Taxation and social security

28,643

79,714

Accruals and deferred income

4,372

37,189

Other creditors

22

-

46,223

145,806

9

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100