0 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 15,998 15,998 3,158 3,158 12,840 xbrli:pure xbrli:shares iso4217:GBP 05998743 2022-04-01 2023-03-31 05998743 2023-03-31 05998743 2021-04-01 2022-03-31 05998743 2022-03-31 05998743 bus:Director2 2022-04-01 2023-03-31 05998743 core:WithinOneYear 2023-03-31 05998743 core:WithinOneYear 2022-03-31 05998743 core:ShareCapital 2023-03-31 05998743 core:ShareCapital 2022-03-31 05998743 core:CapitalRedemptionReserve 2023-03-31 05998743 core:CapitalRedemptionReserve 2022-03-31 05998743 core:RetainedEarningsAccumulatedLosses 2023-03-31 05998743 core:RetainedEarningsAccumulatedLosses 2022-03-31 05998743 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 05998743 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-03-31 05998743 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2022-03-31 05998743 core:DisposalsDecreaseInProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2023-03-31 05998743 core:Non-currentFinancialInstruments 2022-03-31 05998743 bus:SmallEntities 2022-04-01 2023-03-31 05998743 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05998743 bus:FullAccounts 2022-04-01 2023-03-31 05998743 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05998743 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 05998743
Rowsell Wright Limited
Filleted Unaudited Financial Statements
31 March 2023
Rowsell Wright Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Rowsell Wright Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
5
12,840
Current assets
Debtors
6
203,314
179,765
Cash at bank and in hand
27,046
67,625
---------
---------
230,360
247,390
Creditors: amounts falling due within one year
7
217,671
233,645
---------
---------
Net current assets
12,689
13,745
--------
--------
Total assets less current liabilities
12,689
26,585
--------
--------
Net assets
12,689
26,585
--------
--------
Rowsell Wright Limited
Statement of Financial Position (continued)
31 March 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
60
60
Capital redemption reserve
40
40
Profit and loss account
12,589
26,485
--------
--------
Shareholders funds
12,689
26,585
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 September 2023 , and are signed on behalf of the board by:
Mr S Rowsell
Director
Company registration number: 05998743
Rowsell Wright Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 409-411 Croydon Road, Beckenham, BR3 3PP, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents amounts chargeable to clients for consultancy services provided during the year, excluding disbursements and VAT. Income is recognised when a right to consideration has been obtained through performance under each contract. Consideration accrues as contract activity progresses by reference to the value of the work performed. Income also includes appropriate amounts in respect of work in progress to the extent that the outcome of the contracts can be assessed with reasonable certainty. Income is not recognised where the right to receive payment is contingent on events outside the control of the company.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 2 ).
5. Investments
Other investments other than loans
£
Cost
At 1 April 2022
15,998
Disposals
( 15,998)
--------
At 31 March 2023
--------
Impairment
At 1 April 2022
3,158
Disposals
( 3,158)
--------
At 31 March 2023
--------
Carrying amount
At 31 March 2023
--------
At 31 March 2022
12,840
--------
6. Debtors
2023
2022
£
£
Trade debtors
200,967
165,196
Other debtors
2,347
14,569
---------
---------
203,314
179,765
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
197,138
230,948
Social security and other taxes
18,408
Other creditors
2,125
2,697
---------
---------
217,671
233,645
---------
---------
8. Related party transactions
The company was under the control of its directors throughout the current and previous year.