Company registration number 00849772 (England and Wales)
ROWLAND-JONES (HOLDINGS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
5 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
ROWLAND-JONES (HOLDINGS) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
ROWLAND-JONES (HOLDINGS) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Ms S M Rowland - Jones
Mr J R Rowland - Jones
Secretary
Mr J R Rowland - Jones
Company number
00849772
Registered office
10 Bridge Street
Christchurch
Dorset
BH23 1EF
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
ROWLAND-JONES (HOLDINGS) LIMITED
BALANCE SHEET
AS AT 5 APRIL 2023
05 April 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
4
55,000
55,000
Current assets
Cash at bank and in hand
13,860
12,803
Creditors: amounts falling due within one year
5
(2,189)
(1,486)
Net current assets
11,671
11,317
Total assets less current liabilities
66,671
66,317
Provisions for liabilities
(9,851)
(9,851)
Net assets
56,820
56,466
Capital and reserves
Called up share capital
39,808
39,808
Revaluation reserve
44,249
44,249
Profit and loss reserves
(27,237)
(27,591)
Total equity
56,820
56,466
ROWLAND-JONES (HOLDINGS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2023
05 April 2023
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 March 2024 and are signed on its behalf by:
Mr J R Rowland - Jones
Director
Company Registration No. 00849772
The notes on pages 4 to 6 form part of these financial statements
ROWLAND-JONES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
- 4 -
1
Accounting policies
Company information
Rowland-Jones (Holdings) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Bridge Street, Christchurch, Dorset, BH23 1EF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
ROWLAND-JONES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
ROWLAND-JONES (HOLDINGS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
- 6 -
3
Tangible fixed assets
Computers
£
Cost
At 6 April 2022 and 5 April 2023
579
Depreciation and impairment
At 6 April 2022 and 5 April 2023
579
Carrying amount
At 5 April 2023
At 5 April 2022
4
Investment property
2023
£
Fair value
At 6 April 2022 and 5 April 2023
55,000
Investment property comprises land and buildings which are rented out. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 5 April 2023 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
229
146
Other creditors
1,960
1,340
2,189
1,486