Registered number
10178294
Rowan Elgood Limited
Filleted Accounts
31 May 2023
Rowan Elgood Limited
Registered number: 10178294
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 994,713 997,854
Current assets
Debtors 4 2,058 2,058
Cash at bank and in hand 7,558 6,486
9,616 8,544
Creditors: amounts falling due within one year 5 (1,856) (646)
Net current assets 7,760 7,898
Total assets less current liabilities 1,002,473 1,005,752
Creditors: amounts falling due after more than one year 6 (690,770) (719,770)
Net assets 311,703 285,982
Capital and reserves
Called up share capital 320,000 300,000
Profit and loss account (8,297) (14,018)
Shareholders' funds 311,703 285,982
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Rashid
Director
Approved by the board on 4 September 2023
Rowan Elgood Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment Properties
£
Cost
At 1 June 2022 997,854
Disposals (3,141)
At 31 May 2023 994,713
Depreciation
At 31 May 2023 -
Net book value
At 31 May 2023 994,713
At 31 May 2022 997,854
4 Debtors 2023 2022
£ £
Other debtors 2,058 2,058
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 400 400
Other creditors 1,456 246
1,856 646
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 628,735 628,735
Other creditors 62,035 91,035
690,770 719,770
7 Other information
Rowan Elgood Limited is a private company limited by shares and incorporated in England. Its registered office is:
160 City Road
London
EC1V 2NX
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