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REGISTERED NUMBER: 10620339 (England and Wales)















Financial Statements

for the Year Ended 31 March 2023

for

Rowans Baker Ltd

Rowans Baker Ltd (Registered number: 10620339)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rowans Baker Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: G N Abuaita





REGISTERED OFFICE: Arden House
25 The Courtyard
Gorsey Lane
Coleshill
West Midlands
B46 1JA





REGISTERED NUMBER: 10620339 (England and Wales)





AUDITORS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Rowans Baker Ltd (Registered number: 10620339)

Balance Sheet
31 March 2023

2023 2022
(Unaudited)
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 146,624

CURRENT ASSETS
Debtors 5 51,111 4,519
Cash at bank 7,145 6,291
58,256 10,810
CREDITORS
Amounts falling due within one year 6 (581,062 ) (531,188 )
NET CURRENT LIABILITIES (522,806 ) (520,378 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(522,806

)

(373,754

)

CAPITAL AND RESERVES
Called up share capital 70,000 70,000
Retained earnings (592,806 ) (443,754 )
SHAREHOLDERS' FUNDS (522,806 ) (373,754 )

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2023 and were signed by:





G N Abuaita - Director


Rowans Baker Ltd (Registered number: 10620339)

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

1. STATUTORY INFORMATION

Rowans Baker Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Improvements to property - 10% on cost
Plant and machinery - 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Rowans Baker Ltd (Registered number: 10620339)

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

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on a going concern basis which the director considered to be appropriate. The company is able to depend on the funds provided by the company's fellow subsidiary, Pioneers UK Limited. The loan will not be demanded for until such time as Rowans Baker Ltd can afford to repay without detriment to its operating and working capital requirements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 April 2022 154,422 134,587 289,009
Disposals (154,422 ) (134,587 ) (289,009 )
At 31 March 2023 - - -
DEPRECIATION
At 1 April 2022 75,349 67,036 142,385
Eliminated on disposal (75,349 ) (67,036 ) (142,385 )
At 31 March 2023 - - -
NET BOOK VALUE
At 31 March 2023 - - -
At 31 March 2022 79,073 67,551 146,624

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
(Unaudited)
£    £   
Amounts owed by group undertakings 50,000 -
Other debtors 1,111 4,519
51,111 4,519

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
(Unaudited)
£    £   
Trade creditors 4,410 10
Amounts owed to group undertakings 574,295 528,603
Taxation and social security - 738
Other creditors 2,357 1,837
581,062 531,188

Rowans Baker Ltd (Registered number: 10620339)

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

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
(Unaudited)
£    £   
Within one year - 18,000
Between one and five years - 72,000
In more than five years - 16,500
- 106,500

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Susanna D Ault FCCA ACA (Senior Statutory Auditor)
for and on behalf of Tomkinson Teal (Lichfield) LLP

9. ULTIMATE PARENT COMPANY

The company's immediate parent company is Gladius Holdings Ltd registered at the same address.

The company's ultimate parent is Ivalyn Investments Limited incorporated in the British Virgin Islands.

The consolidated financial statements in which Rowans Baker Ltd are published are those prepared by Gladius Holdings Ltd which are available from Companies House.