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REGISTERED NUMBER: SC274351 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

ROWANS GROCERS LTD.

ROWANS GROCERS LTD. (REGISTERED NUMBER: SC274351)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROWANS GROCERS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mrs M Tibbitt
G Tibbitt





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC274351 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

ROWANS GROCERS LTD. (REGISTERED NUMBER: SC274351)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76,192 80,214

CURRENT ASSETS
Stocks 7,702 6,843
Debtors 5 1,666 280
Cash at bank and in hand 20,229 17,205
29,597 24,328
CREDITORS
Amounts falling due within one year 6 47,187 32,037
NET CURRENT LIABILITIES (17,590 ) (7,709 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,602

72,505

CREDITORS
Amounts falling due after more than one
year

7

27,608

39,374
NET ASSETS 30,994 33,131

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 30,894 33,031
SHAREHOLDERS' FUNDS 30,994 33,131

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ROWANS GROCERS LTD. (REGISTERED NUMBER: SC274351)

BALANCE SHEET - continued
30 NOVEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





Mrs M Tibbitt - Director


ROWANS GROCERS LTD. (REGISTERED NUMBER: SC274351)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Rowans Grocers Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on a reducing balance basis
Fixtures and fittings - 20% on a reducing balance basis
Motor vehicles - 25% on a reducing balance basis
Computer equipment - 33.33% on a straight line basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 19 ) .

ROWANS GROCERS LTD. (REGISTERED NUMBER: SC274351)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 39,654 110,453 36,845 2,148 189,100
Additions 5,428 4,400 - 1,114 10,942
At 30 November 2023 45,082 114,853 36,845 3,262 200,042
DEPRECIATION
At 1 December 2022 15,467 83,317 7,954 2,148 108,886
Charge for year 3,992 5,475 5,129 368 14,964
At 30 November 2023 19,459 88,792 13,083 2,516 123,850
NET BOOK VALUE
At 30 November 2023 25,623 26,061 23,762 746 76,192
At 30 November 2022 24,187 27,136 28,891 - 80,214


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,666 280

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,000 6,000
Hire purchase contracts 5,766 5,766
Taxation and social security 27,270 14,024
Other creditors 8,151 6,247
47,187 32,037

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 12,000 18,000
Hire purchase contracts 15,608 21,374
27,608 39,374