ROWCOM TECHNICAL SERVICES LTD |
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Directors Report |
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for the Period Ended 31 March 2023 |
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The directors present their report with the financial statements of the company for the |
period ended 31 March 2023 |
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Principal activities |
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The principal activity of the company in the period under review was |
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that of supply and maintenance of industrial gas/oil burners, controls and associated plant. |
Directors |
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The director(s) shown below have held office during the whole of the period |
T G Rowlinson |
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The director(s) shown were appointed during/after the period |
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L M Rowlinson |
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on |
2023-06-01 |
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The director(s) shown below resigned during the period |
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K Rowlinson |
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on |
2023-06-01 |
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J A Rowlinson |
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on |
2023-06-01 |
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Small Company Provisions |
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These accounts have been prepared in accordance with the provisions applicable to |
companies subject to the small companies regime. |
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This report was approved by the board of directors on |
2023-11-03 |
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and signed on behalf of the board by |
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Name |
T G Rowlinson |
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Status |
Director |
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Page 4 |
ROWCOM TECHNICAL SERVICES LTD |
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Profit and Loss Account |
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for the Period Ended 31 March 2023 |
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2023 |
2022 |
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Notes |
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Turnover |
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2 |
823,117 |
980,171 |
Cost of sales |
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384,712 |
435,016 |
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______ |
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Gross Profit/(Loss) |
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438,405 |
545,155 |
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Administrative expenses |
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(6,564) |
231,949 |
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Operating costs |
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(6,564) |
231,949 |
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Other operating income |
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29,504 |
25,503 |
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Total other operating income/(loss) |
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29,504 |
25,503 |
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Operating Profit/(Loss) |
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3 |
474,473 |
338,709 |
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Interest receivable and similar |
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20 |
2 |
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______ |
Net Finance income/(Loss) |
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20 |
2 |
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Profit/(Loss) on ordinary activities before taxation |
474,493 |
338,711 |
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Tax on profit on ordinary activities |
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5 |
101,994 |
60,723 |
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______ |
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Profit/(Loss) for the financial period after taxation |
372,499 |
277,988 |
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There were no recognised gains or losses other than the profit/(loss) shown attributable to the |
shareholders for the period ended 31 March 2023 |
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The notes form part of these financial statements |
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Page 5 |
ROWCOM TECHNICAL SERVICES LTD |
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Balance Sheet |
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for the Period Ended 31 March 2023 |
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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The financial statements were approved by the Board of Directors on |
2023-11-03 |
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SIGNED ON BEHALF OF THE BOARD BY |
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Name |
T G Rowlinson |
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The notes form part of these financial statements |
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Average number of employees during period |
6 |
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Page 7 |
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ROWCOM TECHNICAL SERVICES LTD |
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Notes to the Financial Statements |
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for the Period Ended 31 March 2023 |
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1. Accounting policies |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime. |
Going Concern |
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The company has a deficit on shareholders' funds and relies upon the support of its shareholders and creditors,which has been confirmed for a period of at least twelve months from the approval of the financial statements.Accordingly the directors have prepared the financial statements on the going concern basis. |
Turnover |
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The turnover shown in the profit and loss account represents revenue earned during the period, inclusive of VAT.Long-term and ongoing contracts turnover represents the value of work done including estimates of amounts not yet invoiced and is recognised by reference to the stage of completion. |
Tangible fixed assets Depreciation |
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Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. |
Intangible fixed assets |
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Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstance indicate that the carrying value of an asset may not be fully recoverable. |
Deferred taxation |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Investment Properties |
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Investment Properties for which fair value can be measured reliably without undue cost or effort aremeasured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
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Page 8 |
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ROWCOM TECHNICAL SERVICES LTD |
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Notes to the Financial Statements |
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for the Period Ended 31 March 2023 |
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2. Turnover |
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2023 |
2022 |
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£ |
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United Kingdom |
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823,117 |
980,171 |
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Total |
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823,117 |
980,171 |
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3. Operating profit/(loss) |
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2023 |
2022 |
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Profit before tax as stated after charging the following |
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Depreciation - owned assets |
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8,298 |
17,979 |
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4. Directors' remuneration |
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2023 |
2022 |
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Directors remuneration |
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39,370 |
29,940 |
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Value of directors pension contributions |
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Total |
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39,370 |
29,940 |
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The number of Directors accruing pension benefits was |
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5. Taxation |
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The tax charge on the profit on ordinary activities |
2023 |
2022 |
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for the period was as follows |
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£ |
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UK Corporation Tax net of reliefs |
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101,994 |
60,723 |
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Tax on profit on ordinary activities |
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101,994 |
60,723 |
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6. Dividends |
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2023 |
2022 |
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£ |
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Dividend on ordinary shares paid in period |
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267,000 |
54,731 |
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Page 9 |
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ROWCOM TECHNICAL SERVICES LTD |
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Notes to the Financial Statements |
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for the Period Ended 31 March 2023 |
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12. Provisions for liabilities |
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£ |
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Provisions at 1 April 2022 |
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10,570 |
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Movements to |
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41,018 |
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Movements from |
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At 31 March 2023 |
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51,588 |
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13. Share capital |
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2023 |
2022 |
Authorised type |
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Par value |
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£ |
£ |
1000 Ordinary Shares |
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1 |
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100 |
100 |
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Total |
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100 |
100 |
Allotted, called up and paid |
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£ |
£ |
100 Ordinary Shares |
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300 |
300 |
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Total |
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300 |
300 |
14. Reserves/Retained profit |
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Retained profit reconciliation |
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£ |
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Reserves at 1 April 2022 |
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925,211 |
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Profit/(Loss) for year |
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372,499 |
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Dividends paid |
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267,000 |
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Retained Profit/(Loss) at 31 March 2023 |
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1,030,710 |
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Page 12 |