Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Mrs C L Rowse 02/09/2004 Mr J M Rowse 02/09/2004 Mr T Rowse 01/05/2021 22 November 2023 The principal activity of the Company during the financial year was that of electrical wholesale trade. 05220551 2023-09-30 05220551 bus:Director1 2023-09-30 05220551 bus:Director2 2023-09-30 05220551 bus:Director3 2023-09-30 05220551 2022-09-30 05220551 core:CurrentFinancialInstruments 2023-09-30 05220551 core:CurrentFinancialInstruments 2022-09-30 05220551 core:Non-currentFinancialInstruments 2023-09-30 05220551 core:Non-currentFinancialInstruments 2022-09-30 05220551 core:ShareCapital 2023-09-30 05220551 core:ShareCapital 2022-09-30 05220551 core:RetainedEarningsAccumulatedLosses 2023-09-30 05220551 core:RetainedEarningsAccumulatedLosses 2022-09-30 05220551 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-30 05220551 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 05220551 core:PlantMachinery 2022-09-30 05220551 core:Vehicles 2022-09-30 05220551 core:FurnitureFittings 2022-09-30 05220551 core:OfficeEquipment 2022-09-30 05220551 core:PlantMachinery 2023-09-30 05220551 core:Vehicles 2023-09-30 05220551 core:FurnitureFittings 2023-09-30 05220551 core:OfficeEquipment 2023-09-30 05220551 core:CurrentFinancialInstruments core:Secured 2023-09-30 05220551 bus:OrdinaryShareClass1 2023-09-30 05220551 bus:OrdinaryShareClass2 2023-09-30 05220551 2022-10-01 2023-09-30 05220551 bus:FilletedAccounts 2022-10-01 2023-09-30 05220551 bus:SmallEntities 2022-10-01 2023-09-30 05220551 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 05220551 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 05220551 bus:Director1 2022-10-01 2023-09-30 05220551 bus:Director2 2022-10-01 2023-09-30 05220551 bus:Director3 2022-10-01 2023-09-30 05220551 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2022-10-01 2023-09-30 05220551 core:PlantMachinery 2022-10-01 2023-09-30 05220551 core:Vehicles 2022-10-01 2023-09-30 05220551 core:FurnitureFittings 2022-10-01 2023-09-30 05220551 core:OfficeEquipment 2022-10-01 2023-09-30 05220551 2021-10-01 2022-09-30 05220551 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-01 2023-09-30 05220551 core:Non-currentFinancialInstruments 2022-10-01 2023-09-30 05220551 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 05220551 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 05220551 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 05220551 bus:OrdinaryShareClass2 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05220551 (England and Wales)

ROWSE LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

ROWSE LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

ROWSE LIMITED

BALANCE SHEET

As at 30 September 2023
ROWSE LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 1,454
Tangible assets 4 28,140 28,740
28,140 30,194
Current assets
Stocks 460,989 419,679
Debtors 5 1,100,912 707,853
Cash at bank and in hand 24,090 23,788
1,585,991 1,151,320
Creditors: amounts falling due within one year 6 ( 861,098) ( 699,722)
Net current assets 724,893 451,598
Total assets less current liabilities 753,033 481,792
Creditors: amounts falling due after more than one year 7 ( 174,653) ( 217,545)
Provision for liabilities ( 4,134) ( 4,604)
Net assets 574,246 259,643
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 574,244 259,641
Total shareholders' funds 574,246 259,643

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Rowse Limited (registered number: 05220551) were approved and authorised for issue by the Board of Directors on 22 November 2023. They were signed on its behalf by:

Mr J M Rowse
Director
ROWSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
ROWSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rowse Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Units 5/6, Drake Mill Business Park, Estover Road, Plymouth, PL6 7PS.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 11

3. Intangible assets

Development costs Total
£ £
Cost
At 01 October 2022 7,268 7,268
At 30 September 2023 7,268 7,268
Accumulated amortisation
At 01 October 2022 5,814 5,814
Charge for the financial year 1,454 1,454
At 30 September 2023 7,268 7,268
Net book value
At 30 September 2023 0 0
At 30 September 2022 1,454 1,454

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 October 2022 1,141 26,100 11,557 50,446 89,244
Additions 961 0 0 4,943 5,904
At 30 September 2023 2,102 26,100 11,557 55,389 95,148
Accumulated depreciation
At 01 October 2022 1,078 18,905 8,029 32,492 60,504
Charge for the financial year 45 1,799 529 4,131 6,504
At 30 September 2023 1,123 20,704 8,558 36,623 67,008
Net book value
At 30 September 2023 979 5,396 2,999 18,766 28,140
At 30 September 2022 63 7,195 3,528 17,954 28,740

5. Debtors

2023 2022
£ £
Trade debtors 1,006,484 566,715
Other debtors 94,428 141,138
1,100,912 707,853

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 334,540 203,344
Trade creditors 284,562 352,658
Taxation and social security 192,985 71,627
Other creditors 49,011 72,093
861,098 699,722

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 174,653 217,545

The bank loans are secured by way of a fixed and floating charge over all property of the company.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary A shares share of £ 1.00 1 1
1 Ordinary B shares share of £ 1.00 1 1
2 2

9. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
other 86,430 115,240