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Registered Number: 14465211
England and Wales

 

 

 

ROWAN FLOORING LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director Liam Joe Midmore
Registered Number 14465211
Registered Office Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
Trading Address Woodside
Watermans Lane
Paddock Wood
Kent
TN12 6ND
Accountants OMB Tax Limited
Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
Secretary Maisie May Levy
1
You consider that the Company is exempt from an audit for the year ended 31 March 2024.

You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the Company at the end of the financial year, and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the accounting records of the Company and on the basis of the information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently, we do not express any opinion on these accounts.


OMB Tax Limited
Unit 10, Clayfield Mews
Newcomen Road
Tunbridge Wells
TN4 9PA
24 August 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 36,853    8,438 
36,853    8,438 
Current assets      
Stocks 4 4,055   
Debtors 5 25,739    9,814 
Cash at bank and in hand 57,869    10,591 
87,663    20,405 
Creditors: amount falling due within one year 6 (25,301)   (6,736)
Net current assets 62,362    13,669 
 
Total assets less current liabilities 99,215    22,107 
Creditors: amount falling due after more than one year 7 (71,769)   (19,150)
Net assets 27,446    2,957 
 

Capital and reserves
     
Called up share capital 8 110    110 
Profit and loss account 27,336    2,847 
Shareholders' funds 27,446    2,957 
 


For the year ended 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 24 August 2024 and were signed by:


-------------------------------
Liam Joe Midmore
Director
3
General Information
Rowan Flooring Limited is a private company, limited by shares, registered in England and Wales, under 14465211, at Unit 10, Clayfield Mews, Newcomen Road, Tunbridge Wells, TN4 9PA. The trading address of the company is Woodside, Watermans Lane, Paddock Wood, Kent, TN12 6ND.
1.

Accounting policies

Significant accounting policies
Statement of compliance

These financial statements have been prepared in compliance with FRS 102 (under Part 1A), the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006.

Basis of preparation

The financial statements are presented in £ Sterling (which is the operational currency of the Company), on the going concern basis under the historical cost convention in accordance with the accounting policies.

Going concern basis

In preparing the financial statements, the director is required to make an assessment of the ability of the Company to continue as a going concern.  The director has considered all available evidence for the Company which covers the 12 months from the date of signing these financial statements.  The director has paid particular attention to likely cashflow requirements and future availability of adequate cashflow to the Company.

On the basis of this consideration, the director is confident that the Company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future.  In reaching this conclusion, he is satisfied that no material uncertainty exists.  As a result of the above, the director concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements and that no material uncertainty exists in reaching this conclusion.




Turnover
Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
Taxation represents the tax currently payable recognised in the Profit and Loss Account.  No provision is made for deferred tax.  The Company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.  Current tax assets and liabilities are not discounted. 
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment.  Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives. Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 April 2023 9,000    1,547    10,547 
Additions 31,329    424    31,753 
Disposals    
At 31 March 2024 40,329    1,971    42,300 
Depreciation
At 01 April 2023 3,240    309    3,549 
Charge for year 1,566    332    1,898 
On disposals    
At 31 March 2024 4,806    641    5,447 
Net book values
Closing balance as at 31 March 2024 35,523    1,330    36,853 
Opening balance as at 01 April 2023 7,200    1,238    8,438 

The net book value of Plant and Machinery includes £ 29,763 in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2024
£
  2023
£
Stock & work-in-progress 4,055   
4,055   

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 25,739    9,814 
25,739    9,814 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2,250   
Taxation and Social Security 14,446    2,122 
Obligations under HP/Financial Leases 5,704   
Other Creditors 2,901    4,614 
25,301    6,736 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations under HP/Financial Leases 26,701   
Other Creditors 45,068    19,150 
71,769    19,150 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
10 Ordinary 'A' shares of £1.00 each 10    10 
110    110 

9.

Indebtedness

Included within creditors is the sum of £32,405 repayable by instalments:

Within 1 year £5,704
Between 2 and 5 years £26,701

Secured on the asset financed under a Hire Purchase Agreement. 
4