Rowe Properties Homes Limited 05138714 false 2020-10-01 2021-12-31 2021-12-31 The principal activity of the company is property development and rental Digita Accounts Production Advanced 6.30.9574.0 true false 05138714 2020-10-01 2021-12-31 05138714 2021-12-31 05138714 core:RetainedEarningsAccumulatedLosses 2021-12-31 05138714 core:ShareCapital 2021-12-31 05138714 core:CurrentFinancialInstruments 2021-12-31 05138714 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 05138714 core:LandBuildings 2021-12-31 05138714 bus:SmallEntities 2020-10-01 2021-12-31 05138714 bus:AuditExemptWithAccountantsReport 2020-10-01 2021-12-31 05138714 bus:FullAccounts 2020-10-01 2021-12-31 05138714 bus:SmallCompaniesRegimeForAccounts 2020-10-01 2021-12-31 05138714 bus:RegisteredOffice 2020-10-01 2021-12-31 05138714 bus:Director1 2020-10-01 2021-12-31 05138714 bus:Director2 2020-10-01 2021-12-31 05138714 bus:Director3 2020-10-01 2021-12-31 05138714 bus:PrivateLimitedCompanyLtd 2020-10-01 2021-12-31 05138714 core:LandBuildings 2020-10-01 2021-12-31 05138714 1 2020-10-01 2021-12-31 05138714 countries:EnglandWales 2020-10-01 2021-12-31 05138714 2020-09-30 05138714 core:LandBuildings 2020-09-30 05138714 2019-10-01 2020-09-30 05138714 2020-09-30 05138714 core:RetainedEarningsAccumulatedLosses 2020-09-30 05138714 core:ShareCapital 2020-09-30 05138714 core:CurrentFinancialInstruments 2020-09-30 05138714 core:CurrentFinancialInstruments core:WithinOneYear 2020-09-30 05138714 core:LandBuildings 2020-09-30 iso4217:GBP xbrli:pure

Registration number: 05138714

Rowe Properties Homes Limited

Filleted Unaudited Financial Statements

for the Period from 1 October 2020 to 31 December 2021

 

Rowe Properties Homes Limited
(Registration number: 05138714)

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Rowe Properties Homes Limited
(Registration number: 05138714)

Company Information

Directors

Mrs S M Rowe

Mr A G E Rowe OBE

Mr D H Langley

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Rowe Properties Homes Limited
(Registration number: 05138714)

Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

-

352,275

Current assets

 

Debtors

5

544,878

181,814

Creditors: Amounts falling due within one year

6

(544,457)

(413,668)

Net current assets/(liabilities)

 

421

(231,854)

Net assets

 

421

120,421

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

419

120,419

Total equity

 

421

120,421

For the financial period ending 31 December 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 period 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.

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 by the Board on 28 July 2022 and signed on its behalf by:
 

.........................................
Mr A G E Rowe OBE
Director

 

Rowe Properties Homes Limited
(Registration number: 05138714)

Notes to the Financial Statements for the Period from 1 October 2020 to 31 December 2021

1

General information

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

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

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 - '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 except that as disclosed in the accounting policies certain items are shown at fair value.

The directors have considered the impact of COVID-19 and do not consider it to have a material impact on the balances included within the financial statements.

In addition, the directors do not consider it to cast any significant doubt upon the company's ability to continue to trade as a going concern.

The directors have taken both reactive and proactive measures in order to mitigate any risks associated with COVID-19 including managing cash flow to ensure that debts can be paid when they fall due, managing staffing levels and monitoring key customer and supplier activity.

The directors have implemented a robust system of procedures and controls in order to deal with any associated risks.
 

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.

 

Rowe Properties Homes Limited
(Registration number: 05138714)

Notes to the Financial Statements for the Period from 1 October 2020 to 31 December 2021

Tax

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.

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with with FRS102, 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.

The treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning 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.

Borrowings

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.

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 period, was 3 (2020 - 2).

 

Rowe Properties Homes Limited
(Registration number: 05138714)

Notes to the Financial Statements for the Period from 1 October 2020 to 31 December 2021

4

Tangible assets

Investment properties
£

Total
£

Cost or valuation

At 1 October 2020

352,275

352,275

Transferred

(352,275)

(352,275)

At 31 December 2021

-

-

Carrying amount

At 31 December 2021

-

-

At 30 September 2020

352,275

352,275

5

Debtors

Note

2021
£

2020
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

544,878

181,814

Total current trade and other debtors

 

544,878

181,814

6

Creditors

Note

2021
£

2020
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

543,317

-

Other creditors

 

-

411,388

Accrued expenses

 

1,140

2,280

 

544,457

413,668

7

Parent and ultimate parent undertaking

The company's immediate parent is Exeter Estates Holdings Limited, incorporated in England and Wales.