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Registration number: 08565702

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

for
 

Rowe Investments Ltd

 

Rowe Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Rowe Investments Ltd

Company Information

Director:

Mr A F Rowe

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

08565702

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Rowe Investments Ltd

(Registration number: 08565702)
Balance Sheet as at 31 March 2023

Note

31.03.23

31.03.22

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

5,121

 

-

Investment property

5

 

1,194,077

 

-

Investments

6

 

50

 

50

   

1,199,248

 

50

CURRENT ASSETS

   

 

Debtors

8

89,313

 

83,200

 

Investments

9

-

 

235,000

 

Other financial assets

7

503,210

 

551,412

 

Cash at bank and in hand

 

40,887

 

122,185

 

 

633,410

 

991,797

 

CREDITORS

   

 

Creditors within 1yr

10

8,178

 

11,144

 

Net current assets

   

625,232

 

980,653

Total assets less current liabilities

   

1,824,480

 

980,703

Creditors
Amounts falling due after more than one year

10

 

1,866,247

 

979,741

PROVISIONS FOR LIABILITIES

 

(3,608)

 

-

Net (liabilities)/assets

   

(45,375)

 

962

CAPITAL AND RESERVES

   

 

Called up share capital

 

100

 

100

Other reserves

 

10,825

 

-

Profit and loss account

 

(56,300)

 

862

Shareholders' (deficit)/funds

   

(45,375)

 

962

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Rowe Investments Ltd

(Registration number: 08565702)
Balance Sheet as at 31 March 2023 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 February 2024

.........................................
Mr A F Rowe
Director

 

Rowe Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1.

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the director on 13 February 2024.

2.

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis on the understanding that the director and related parties will continue to support the business for at least 12 months from the date of signing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Rowe Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% on straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Rowe Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Rowe Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3.

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4.

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

5,995

5,995

At 31 March 2023

5,995

5,995

Depreciation

Charge for the year

874

874

At 31 March 2023

874

874

Carrying amount

At 31 March 2023

5,121

5,121

5.

Investment properties

31.03.23
£

Additions

1,194,077

At 31 March

1,194,077

The properties were revalued at the year end on an open market basis by the director.

 

Rowe Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

6.

Investments

31.03.23
£

31.03.22
£

Investments in associates

50

50

Associates

£

Cost

At 1 April 2022

50

Carrying amount

At 31 March 2023

50

At 31 March 2022

50

 

Rowe Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

7.

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 April 2022

551,413

551,413

Fair value adjustments

36,191

36,191

Additions

935,781

935,781

Disposals

(1,020,175)

(1,020,175)

At 31 March 2023

503,210

503,210

8.

Debtors

Note

31.03.23
£

31.03.22
£

Amounts owed by related parties

79,200

-

Other debtors

 

6,505

83,200

Deferred tax assets

3,608

-

 

89,313

83,200

9.

Current asset investments

31.03.23
£

31.03.22
£

Other investments

-

235,000

 

Rowe Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

10.

Creditors

Creditors: amounts falling due within one year

31.03.23
£

31.03.22
£

Due within one year

Taxation and social security

-

399

Accruals and deferred income

3,223

3,240

Other creditors

4,955

7,505

8,178

11,144

Creditors: amounts falling due after more than one year

Note

31.03.23
£

31.03.22
£

Due after one year

 

Loans and borrowings

11

1,866,247

979,741

11.

Loans and borrowings

31.03.23
£

31.03.22
£

Non-current loans and borrowings

Other borrowings

1,866,247

979,741