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REGISTERED NUMBER: 06025602 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1ST JULY 2023 TO 31ST MARCH 2024

FOR

ROWSE FISHING LIMITED

ROWSE FISHING LIMITED (REGISTERED NUMBER: 06025602)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST JULY 2023 TO 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROWSE FISHING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1ST JULY 2023 TO 31ST MARCH 2024







DIRECTORS: M E Rowse
Mrs E L Rowse





SECRETARY: Mrs E L Rowse





REGISTERED OFFICE: Varfell Park
Long Rock
PENZANCE
Cornwall
TR20 8LD





REGISTERED NUMBER: 06025602 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

ROWSE FISHING LIMITED (REGISTERED NUMBER: 06025602)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 453,088 378,749
Tangible assets 5 2,030,023 1,648,476
Investment property 6 152,547 -
2,635,658 2,027,225

CURRENT ASSETS
Stocks 20,000 19,032
Debtors 7 70,924 306,488
Cash in hand 875 187
91,799 325,707
CREDITORS
Amounts falling due within one year 8 581,873 403,462
NET CURRENT LIABILITIES (490,074 ) (77,755 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,145,584

1,949,470

CREDITORS
Amounts falling due after more than one
year

9

(650,313

)

(692,545

)

PROVISIONS FOR LIABILITIES (362,878 ) (217,171 )
NET ASSETS 1,132,393 1,039,754

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,132,391 1,039,752
SHAREHOLDERS' FUNDS 1,132,393 1,039,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2024 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.

ROWSE FISHING LIMITED (REGISTERED NUMBER: 06025602)

BALANCE SHEET - continued
31ST MARCH 2024


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 2nd December 2024 and were signed on its behalf by:





M E Rowse - Director


ROWSE FISHING LIMITED (REGISTERED NUMBER: 06025602)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST JULY 2023 TO 31ST MARCH 2024

1. STATUTORY INFORMATION

Rowse Fishing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Going concern
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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Licences are being amortised evenly over their estimated useful life of ten years.

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 etc - 25% on cost and Straight line over 12 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 period 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 period 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.

ROWSE FISHING LIMITED (REGISTERED NUMBER: 06025602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST JULY 2023 TO 31ST MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Licences
£   
COST
At 1st July 2023 670,610
Additions 168,000
Disposals (24,500 )
At 31st March 2024 814,110
AMORTISATION
At 1st July 2023 291,861
Amortisation for period 81,411
Eliminated on disposal (12,250 )
At 31st March 2024 361,022
NET BOOK VALUE
At 31st March 2024 453,088
At 30th June 2023 378,749

5. TANGIBLE FIXED ASSETS
Assets
under the
course of Plant and Fishing
construction machinery Boats
£    £    £   
COST
At 1st July 2023 705,547 558,664 1,140,018
Additions 555,605 - -
Disposals - - (215,000 )
At 31st March 2024 1,261,152 558,664 925,018
DEPRECIATION
At 1st July 2023 - 975 763,231
Charge for period - 195 56,599
Eliminated on disposal - - (103,200 )
At 31st March 2024 - 1,170 716,630
NET BOOK VALUE
At 31st March 2024 1,261,152 557,494 208,388
At 30th June 2023 705,547 557,689 376,787

ROWSE FISHING LIMITED (REGISTERED NUMBER: 06025602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST JULY 2023 TO 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st July 2023 41,056 6,532 2,451,817
Additions - - 555,605
Disposals - - (215,000 )
At 31st March 2024 41,056 6,532 2,792,422
DEPRECIATION
At 1st July 2023 32,656 6,479 803,341
Charge for period 5,411 53 62,258
Eliminated on disposal - - (103,200 )
At 31st March 2024 38,067 6,532 762,399
NET BOOK VALUE
At 31st March 2024 2,989 - 2,030,023
At 30th June 2023 8,400 53 1,648,476

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 152,547
At 31st March 2024 152,547
NET BOOK VALUE
At 31st March 2024 152,547

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 985 162,100
Other debtors 31,017 69,887
Directors' current accounts - 1,236
Tax - 22,263
VAT 16,786 16,707
Prepayments 22,136 34,295
70,924 306,488

ROWSE FISHING LIMITED (REGISTERED NUMBER: 06025602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST JULY 2023 TO 31ST MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 74,285 98,095
Trade creditors 209,709 214,820
Social security and other taxes 6,369 3,095
Other creditors 51,539 83,257
Directors' current accounts 172 -
Accruals and deferred income 235,329 -
Accrued expenses 4,470 4,195
581,873 403,462

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 650,313 692,545

10. RELATED PARTY DISCLOSURES

During the year the company made sales to The Real Cornish Crab Company Limited, of which Mr M E Rowse and Mrs E Rowse are also directors and shareholders, of £1,624,385 (June 2023: 2,437,182)

As at 31 March 2024 the company was owed £31,017 (June 2023: £69,886) by The Real Cornish Crab Company Limited in respect of an inter company loan which is interest free and repayable on demand.

11. CONTROL

The company was controlled throughout the current and previous period by it's directors, Mr M Rowse and Mrs E Rowse, who between them owned 100% of the issued share capital of the company.