2022-04-012023-03-312023-03-31false08438218Rowington Estates 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Rowington Estates Limited

Registered Number
08438218
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Rowington Estates Limited
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Robert E Blyth
Diana M Blyth

Company Secretary

Robert E Blyth

Registered Address

Trinity House, 36 Rising Lane
Baddesley Clinton
Knowle
B93 0BZ

Registered Number

08438218 (England and Wales)
Rowington Estates Limited
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets7311389
Investment property8175,389175,389
175,700175,778
Current assets
Current asset investments11,71311,626
Cash at bank and on hand47,25842,355
58,97153,981
Creditors amounts falling due within one year11(216,819)(216,153)
Net current assets (liabilities)(157,848)(162,172)
Total assets less current liabilities17,85213,606
Provisions for liabilities12(59)(74)
Net assets17,79313,532
Capital and reserves
Called up share capital100100
Profit and loss account17,69313,432
Shareholders' funds17,79313,532
The financial statements were approved and authorised for issue by the Board of Directors on 17 November 2023, and are signed on its behalf by:
Robert E Blyth
Director
Registered Company No. 08438218
Rowington Estates Limited
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is property investment.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
Investment property policy
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
Revenue recognition policy
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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.
6.Employee information

20232022
Average number of employees during the year00
7.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 April 221,1871,187
At 31 March 231,1871,187
Depreciation and impairment
At 01 April 22798798
Charge for year7878
At 31 March 23876876
Net book value
At 31 March 23311311
At 31 March 22389389
8.Investment property
The investment property consists of a property purchased in September 2017 for £175,389, including subsequent improvements. There has been no valuation of investment property by an independent valuer.

£
Fair value at 01 April 22175,389
At 31 March 23175,389
9.Description of nature of transactions and balances with related parties
At the year end, the Company owed the Directors £215,264 (2021 - £215,264). These monies remain payable on demand but have been advanced on an unsecured and interest free basis.
10.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.
11.Creditors within one year

2023

2022

££
Amounts owed to related parties215,264215,264
Taxation and social security1,014348
Accrued liabilities and deferred income541541
Total216,819216,153
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.
12.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)5974
Total5974