Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity35truetrue 12366394 2023-01-01 2023-12-31 12366394 2022-01-01 2022-12-31 12366394 2023-12-31 12366394 2022-12-31 12366394 c:Director1 2023-01-01 2023-12-31 12366394 d:FreeholdInvestmentProperty 2023-01-01 2023-12-31 12366394 d:FreeholdInvestmentProperty 2023-12-31 12366394 d:FreeholdInvestmentProperty 2022-12-31 12366394 d:CurrentFinancialInstruments 2023-12-31 12366394 d:CurrentFinancialInstruments 2022-12-31 12366394 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12366394 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12366394 d:ShareCapital 2023-12-31 12366394 d:ShareCapital 2022-12-31 12366394 d:CapitalRedemptionReserve 2023-12-31 12366394 d:CapitalRedemptionReserve 2022-12-31 12366394 d:InvestmentPropertiesRevaluationReserve 2023-12-31 12366394 d:InvestmentPropertiesRevaluationReserve 2022-12-31 12366394 d:RetainedEarningsAccumulatedLosses 2023-12-31 12366394 d:RetainedEarningsAccumulatedLosses 2022-12-31 12366394 c:FRS102 2023-01-01 2023-12-31 12366394 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12366394 c:FullAccounts 2023-01-01 2023-12-31 12366394 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12366394 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 12366394









Rowcon Property Limited







Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
Rowcon Property Limited
Registered number: 12366394

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,040,375
665,000

  
1,040,375
665,000

Current assets
  

Debtors: amounts falling due within one year
 5 
10
10

Cash at bank and in hand
 6 
14,603
6,268

  
14,613
6,278

Creditors: amounts falling due within one year
 7 
(980,064)
(554,395)

Net current liabilities
  
 
 
(965,451)
 
 
(548,117)

Total assets less current liabilities
  
74,924
116,883

Provisions for liabilities
  

Deferred tax
  
(12,813)
(12,813)

  
 
 
(12,813)
 
 
(12,813)

Net assets
  
62,111
104,070


Capital and reserves
  

Called up share capital 
  
5
10

Capital redemption reserve
  
5
-

Investment property reserve
  
54,623
54,623

Profit and loss account
  
7,478
49,437

  
62,111
104,070


Page 1

 
Rowcon Property Limited
Registered number: 12366394
    
Balance Sheet (continued)
As at 31 December 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


D S Chilton
Director

Date: 24 April 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
Rowcon Property Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

1.


General information

Rowcon Property Limited is a private company limited by shares and incorporated in England. The address of the registered office and principal place of business is Gardale House, 118b Gatley Road, Gatley, Cheadle, SK8 4AU. The company's registered number is 12366394.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental income is recognised in the period it falls due.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
Rowcon Property Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 5).

Page 4

 
Rowcon Property Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
665,000


Additions at cost
375,375



At 31 December 2023
1,040,375

The most recent valuations were made by Thomson Associates Chartered Surveyors in 2022, on an open market value for existing use basis.





5.


Debtors

2023
2022
£
£


Trade debtors
10
10



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
14,603
6,268



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
2,624
5,349

Other taxation and social security
2,650
2,060

Other creditors
959,590
532,036

Accruals and deferred income
15,200
14,950

980,064
554,395


Page 5

 
Rowcon Property Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

8.


Related party transactions

Included within other creditors is an unsecured loan of £959,590 (2022: £532,036) from a related company. Interest is charged at 4% per annum. 

 
Page 6