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REGISTERED NUMBER: 04422724 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Rowley Auto Services Limited

Rowley Auto Services Limited (Registered number: 04422724)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rowley Auto Services Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: K S Sapra
D Singh
J S Sapra





SECRETARY: K S Sapra





REGISTERED OFFICE: 1 Rowleys Green Industrial Estate
Rowleys Green Lane
Coventry
West Midlands
CV6 6AN





REGISTERED NUMBER: 04422724 (England and Wales)






Rowley Auto Services Limited (Registered number: 04422724)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 888,109 951,359

CURRENT ASSETS
Stocks 597,528 359,311
Debtors 5 254,931 289,036
Cash at bank and in hand 163,041 247,412
1,015,500 895,759
CREDITORS
Amounts falling due within one year 6 1,365,974 1,250,615
NET CURRENT LIABILITIES (350,474 ) (354,856 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

537,635

596,503

CREDITORS
Amounts falling due after more than
one year

7

(147,369

)

(171,634

)

PROVISIONS FOR LIABILITIES (81,420 ) (81,420 )
NET ASSETS 308,846 343,449

CAPITAL AND RESERVES
Called up share capital 75,000 75,000
Retained earnings 233,846 268,449
308,846 343,449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Rowley Auto Services Limited (Registered number: 04422724)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:




D Singh - Director K S Sapra - Director




J S Sapra - Director


Rowley Auto Services Limited (Registered number: 04422724)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Rowley Auto Services 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rowley Auto Services Limited (Registered number: 04422724)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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 41 (2022 - 38 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 314,249 1,365,415 1,679,664
Additions - 115,066 115,066
Disposals - (10,314 ) (10,314 )
At 31 March 2023 314,249 1,470,167 1,784,416
DEPRECIATION
At 1 April 2022 19,901 708,404 728,305
Charge for year 6,284 167,083 173,367
Eliminated on disposal - (5,365 ) (5,365 )
At 31 March 2023 26,185 870,122 896,307
NET BOOK VALUE
At 31 March 2023 288,064 600,045 888,109
At 31 March 2022 294,348 657,011 951,359

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 238,439 280,262
Other debtors 16,492 8,774
254,931 289,036

Rowley Auto Services Limited (Registered number: 04422724)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 396,443 478,299
Hire purchase contracts 15,091 15,136
Trade creditors 416,805 207,062
Taxation and social security 100,044 103,988
Other creditors 437,591 446,130
1,365,974 1,250,615

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 24,014 33,689
Hire purchase contracts 123,355 137,945
147,369 171,634