Registered number
02778564
ROWLEY CARDROME LIMITED
Unaudited Filleted Accounts
31 January 2024
ROWLEY CARDROME LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of ROWLEY CARDROME LIMITED for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ROWLEY CARDROME LIMITED for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
…........................................
Fordhams & Co. Limited
Chartered Accountants
Studio 6
6 Hornsey Street
London
N7 8GR
21 August 2024
ROWLEY CARDROME LIMITED
Registered number: 02778564
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 709,757 699,085
Investments 4 383,575 383,575
1,093,332 1,082,660
Current assets
Debtors 5 22,267 14,140
Cardrome Direct Limited 1,328,308 1,306,618
Cash at bank and in hand 1,057,646 919,768
2,408,221 2,240,526
Creditors: amounts falling due within one year 6 (86,573) (50,333)
Net current assets 2,321,648 2,190,193
Net assets 3,414,980 3,272,853
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,414,880 3,272,753
Shareholder's funds 3,414,980 3,272,853
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
….......................................
Mr Daniel Robert Rowley
Director
Approved by the board on 21 August 2024
ROWLEY CARDROME LIMITED
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 20% at Reducing Balance Method
Motor Vehicles 10% at Reducing Balance Method
Fixtures, fittings, tools and equipment 20% at Reducing Balance Method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 641,061 69,051 121,658 831,770
Additions - 233 19,054 19,287
At 31 January 2024 641,061 69,284 140,712 851,057
Depreciation
At 1 February 2023 - 60,441 72,244 132,685
Charge for the year - 1,768 6,847 8,615
At 31 January 2024 - 62,209 79,091 141,300
Net book value
At 31 January 2024 641,061 7,075 61,621 709,757
At 31 January 2023 641,061 8,610 49,414 699,085
4 Investments
Other
investments
£
Cost
At 1 February 2023 383,575
At 31 January 2024 383,575
5 Debtors 2024 2023
£ £
Other debtors 22,267 14,140
6 Creditors: amounts falling due within one year 2024 2023
£ £
Net Wages 25,246 689
Taxation and social security costs 51,516 40,836
Other creditors 9,811 8,808
86,573 50,333
7 Other information
ROWLEY CARDROME LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Cardrome
Upper Rainham Road
Hornchurch
Essex
RM12 4EU
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