Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31falsetrue2022-02-01No description of principal activity119trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06056511 2022-02-01 2023-01-31 06056511 2021-02-01 2022-01-31 06056511 2023-01-31 06056511 2022-01-31 06056511 2021-02-01 06056511 c:Director1 2022-02-01 2023-01-31 06056511 d:Buildings 2022-02-01 2023-01-31 06056511 d:Buildings 2023-01-31 06056511 d:Buildings 2022-01-31 06056511 d:Buildings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 06056511 d:LandBuildings 2023-01-31 06056511 d:LandBuildings 2022-01-31 06056511 d:PlantMachinery 2022-02-01 2023-01-31 06056511 d:PlantMachinery 2023-01-31 06056511 d:PlantMachinery 2022-01-31 06056511 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 06056511 d:MotorVehicles 2022-02-01 2023-01-31 06056511 d:MotorVehicles 2023-01-31 06056511 d:MotorVehicles 2022-01-31 06056511 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 06056511 d:ComputerEquipment 2022-02-01 2023-01-31 06056511 d:ComputerEquipment 2023-01-31 06056511 d:ComputerEquipment 2022-01-31 06056511 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 06056511 d:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 06056511 d:OtherPropertyPlantEquipment 2023-01-31 06056511 d:OtherPropertyPlantEquipment 2022-01-31 06056511 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 06056511 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 06056511 d:CurrentFinancialInstruments 2023-01-31 06056511 d:CurrentFinancialInstruments 2022-01-31 06056511 d:Non-currentFinancialInstruments 2023-01-31 06056511 d:Non-currentFinancialInstruments 2022-01-31 06056511 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 06056511 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 06056511 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 06056511 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 06056511 d:ShareCapital 2023-01-31 06056511 d:ShareCapital 2022-01-31 06056511 d:RetainedEarningsAccumulatedLosses 2023-01-31 06056511 d:RetainedEarningsAccumulatedLosses 2022-01-31 06056511 c:OrdinaryShareClass1 2022-02-01 2023-01-31 06056511 c:OrdinaryShareClass1 2023-01-31 06056511 c:OrdinaryShareClass1 2022-01-31 06056511 c:FRS102 2022-02-01 2023-01-31 06056511 c:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 06056511 c:FullAccounts 2022-02-01 2023-01-31 06056511 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 06056511 d:WithinOneYear 2023-01-31 06056511 d:WithinOneYear 2022-01-31 06056511 d:BetweenOneFiveYears 2023-01-31 06056511 d:BetweenOneFiveYears 2022-01-31 06056511 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 06056511 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 06056511 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 06056511 d:TaxLossesCarry-forwardsDeferredTax 2022-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06056511









E S ROWING SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
E S ROWING SERVICES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF E S ROWING SERVICES LIMITED
FOR THE YEAR ENDED 31 JANUARY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E S Rowing Services Limited for the year ended 31 January 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of E S Rowing Services Limited in accordance with the terms of our engagement letter dated 26 March 2007Our work has been undertaken solely to prepare for your approval the financial statements of E S Rowing Services Limited  and state those matters that we have agreed to state to the director of E S Rowing Services Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E S Rowing Services Limited and its director for our work or for this report. 

It is your duty to ensure that E S Rowing Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of E S Rowing Services Limited. You consider that E S Rowing Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of E S Rowing Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





The Wiggin Partnership Ltd
 
Chartered Accountants
  
24 October 2023
Page 1

 
E S ROWING SERVICES LIMITED
REGISTERED NUMBER: 06056511

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,059
10,451

  
10,059
10,451

Current assets
  

Stocks
  
35,337
35,104

Debtors: amounts falling due within one year
 5 
90,342
84,259

Cash at bank and in hand
 6 
590
590

  
126,269
119,953

Creditors: amounts falling due within one year
 7 
(302,949)
(281,572)

Net current liabilities
  
 
 
(176,680)
 
 
(161,619)

Total assets less current liabilities
  
(166,621)
(151,168)

Creditors: amounts falling due after more than one year
 8 
(42,257)
(47,394)

  

Net liabilities
  
(208,878)
(198,562)


Capital and reserves
  

Called up share capital 
 10 
4
4

Profit and loss account
  
(208,882)
(198,566)

  
(208,878)
(198,562)


Page 2

 
E S ROWING SERVICES LIMITED
REGISTERED NUMBER: 06056511
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 October 2023.






E Sims
Director

The notes on pages 4 to 14 form part of these financial statements.

Page 3

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

ES Rowing Services Ltd, a private company limited by shares, is incorporated and domiciled in the UK, and has its registered office and principal place of business at West Town Farm Off Lake End Road, Taplow, Maidenhead, SL6 0PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

Based on the grounds that the director will continue to provide sufficient finance, he is of the view, as at the time of approving the accounts, that there is reasonable expectation that the company will have adequate resources to continue operating for the foreseeable future and therefore the going concern basis has been adopted in preparing these accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:.


Improvements to leasehold property
-
20% reducing balance
Plant & machinery
-
25% reducing balance
Motor vehicles
-
25% straight line
Computer equipment
-
33.3% reducing balance
Other fixed assets
-
10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing
Page 7

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Page 8

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 9).


4.


Tangible fixed assets





Leasehold property improvements
Plant & machinery
Motor vehicles
Computer equipment
Office building

£
£
£
£
£



Cost or valuation


At 1 February 2022
66,461
51,149
24,569
2,128
19,248


Additions
-
-
-
-
1,153



At 31 January 2023

66,461
51,149
24,569
2,128
20,401



Depreciation


At 1 February 2022
63,707
49,740
24,569
2,128
12,959


Charge for the year on owned assets
551
352
-
-
643



At 31 January 2023

64,258
50,092
24,569
2,128
13,602



Net book value



At 31 January 2023
2,203
1,057
-
-
6,799



At 31 January 2022
2,753
1,409
-
-
6,289
Page 9

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 February 2022
163,555


Additions
1,153



At 31 January 2023

164,708



Depreciation


At 1 February 2022
153,103


Charge for the year on owned assets
1,546



At 31 January 2023

154,649



Net book value



At 31 January 2023
10,059



At 31 January 2022
10,451




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
2,203
2,753

2,203
2,753


Page 10

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
39,440
35,645

Other debtors
2,800
2,800

Prepayments and accrued income
4,226
4,146

Deferred taxation
43,876
41,668

90,342
84,259



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
590
590

Less: bank overdrafts
(20,068)
(20,871)

(19,478)
(20,281)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
20,068
20,871

Other loans
11,117
5,000

Trade creditors
32,778
42,373

Other taxation and social security
49,543
34,071

Other creditors
189,443
179,257

302,949
281,572


2023
2022
£
£

Other taxation and social security

PAYE/NI control
25,563
6,409

Form C.T.61 taxes
780
615

VAT control
23,199
27,048

49,542
34,072


Page 11

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
37,007
42,144

Other loans
5,250
5,250

42,257
47,394


Page 12

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
41,668
40,128


Charged to profit or loss
2,208
1,541



At end of year
43,876
41,669

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
1,655
1,706

Tax losses carried forward
42,221
39,962

43,876
41,668


10.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



4 (2022 - 4) Ordinary shares of £1.00 each
4
4



11.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,355 (2022 - £2,574). Contributions totalling £718 (2022 - £560) were payable to the fund at 31st January 2022 and are included in creditors

Page 13

 
E S ROWING SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

12.


Commitments under operating leases

At 31 January 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
19,700
19,300

Later than 1 year and not later than 5 years
18,900
38,600

38,600
57,900


13.


Related party transactions

Included within creditors at the year end is a loan owed to the director Mr E R Sims of £117,581 (2022 - £123,995). The loan is interest free and payable on demand.
,
Included within creditors at the year end is a balance of £5,979 in relation to a loan made by employees to the company. Interest has been charged at 2.5% per annum.
Included within creditors at the year end is a balance of £49,997 (2022 - £33,000) due to Kanghua UK Limited, a company in which the director Mr E R Sims is both a director and shareholder.
Included within creditors at the year end are loans owed to Ms M Moon, the director's partner, of £20,521 (2022 - £19,858). Interest has been charged on these loans at 5%.


14.


Controlling party

Mr E R Sims controls the company by virtue of a controlling interest of 100% of the issued ordinary share capital.

 
Page 14