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Registration number: 00645852

Charles Rowe (Rookwood) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2024

 

Charles Rowe (Rookwood) Ltd
(Registration number: 00645852)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Charles Rowe (Rookwood) Ltd
(Registration number: 00645852)

Company Information

Directors

Mr Edward George Rowe

Mr William Robert Henry Rowe

Company secretary

Mr Edward George Rowe

Registered office

Rookwood Hall
Abbess Roding
Ongar
Essex
CM5 0JL

Registered number

00645852

Accountants

Evolve Tax & Accountancy LLP
Chartered Certified Accountants
Baythorne Hall
Baythorne End
Halstead
Essex
CO9 4AH

 

Charles Rowe (Rookwood) Ltd
(Registration number: 00645852)

Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

6,988,153

6,980,639

Current assets

 

Stocks

5

261,334

181,357

Debtors

6

184,932

156,130

Cash at bank and in hand

 

48,522

223,453

 

494,788

560,940

Creditors: Amounts falling due within one year

7

(166,935)

(185,643)

Net current assets

 

327,853

375,297

Total assets less current liabilities

 

7,316,006

7,355,936

Provisions for liabilities

(1,060,565)

(804,602)

Net assets

 

6,255,441

6,551,334

Capital and Reserves

 

Called up share capital

8

5,092

5,092

Revaluation reserve

5,237,179

5,483,543

Other reserves

4,908

4,908

Retained Earnings

1,008,262

1,057,791

Shareholders' funds

 

6,255,441

6,551,334

For the financial year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Charles Rowe (Rookwood) Ltd
(Registration number: 00645852)

Balance Sheet as at 5 April 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

.........................................
Mr Edward George Rowe
Company secretary and director

 

Charles Rowe (Rookwood) Ltd
(Registration number: 00645852)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Rookwood Hall
Abbess Roding
Ongar
Essex
CM5 0JL

The principal place of business is:
Rookwood Hall
Abbess Roding
Ongar
Essex
CM5 0JL

These financial statements were authorised for issue by the Board on 25 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Charles Rowe (Rookwood) Ltd
(Registration number: 00645852)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Charles Rowe (Rookwood) Ltd
(Registration number: 00645852)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Charles Rowe (Rookwood) Ltd
(Registration number: 00645852)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

4

Tangible Assets

Land and buildings
£

Office equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 6 April 2023

6,851,964

15,378

309,609

462,983

7,639,934

Additions

-

-

48,000

2,800

50,800

Disposals

-

-

(29,736)

-

(29,736)

At 5 April 2024

6,851,964

15,378

327,873

465,783

7,660,998

Depreciation

At 6 April 2023

-

13,682

287,431

358,182

659,295

Charge for the year

-

424

14,486

16,140

31,050

Eliminated on disposal

-

-

(17,500)

-

(17,500)

At 5 April 2024

-

14,106

284,417

374,322

672,845

Carrying amount

At 5 April 2024

6,851,964

1,272

43,456

91,461

6,988,153

At 5 April 2023

6,851,964

1,696

22,178

104,801

6,980,639

Included within the net book value of land and buildings above is £6,851,964 (2023 - £6,851,964) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

261,334

181,357

 

Charles Rowe (Rookwood) Ltd
(Registration number: 00645852)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

6

Debtors

The directors have reviewed trade debtors for impairment and consider the impairment losses to be provided for the year are £Nil (2023 - £Nil)

All amounts are due within one year.

Current

Note

2024
£

2023
£

Trade Debtors

 

108,656

103,552

Amounts owed by related parties

5,000

-

Prepayments

 

34,790

26,173

Other debtors

 

36,486

26,405

   

184,932

156,130

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

36,435

34,673

Taxation and social security

37,723

66,168

Accruals and deferred income

52,700

46,160

Other creditors

40,077

38,642

166,935

185,643

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

5,092

5,092

5,092

5,092

         
 

Charles Rowe (Rookwood) Ltd
(Registration number: 00645852)

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

4,536,513

4,536,513