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REGISTERED NUMBER: 07625110 (England and Wales)















ROWLANDS PLASTERING LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






ROWLANDS PLASTERING LTD (REGISTERED NUMBER: 07625110)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROWLANDS PLASTERING LTD

COMPANY INFORMATION
for the Year Ended 31 MAY 2024







DIRECTORS: E Rowlands
A Rowlands





REGISTERED OFFICE: Penrallt
Craig y Fron
Bala
Gwynedd
LL23 7UW





REGISTERED NUMBER: 07625110 (England and Wales)





ACCOUNTANTS: E W Owen & Co
Glyndwr Buildings
Glyndwr Street
Dolgellau
Gwynedd
LL40 1BB

ROWLANDS PLASTERING LTD (REGISTERED NUMBER: 07625110)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,557 25,697

CURRENT ASSETS
Stocks 2,240 28,620
Debtors 5 37,951 31,948
Cash at bank 37,073 33,176
77,264 93,744
CREDITORS
Amounts falling due within one year 6 54,339 75,411
NET CURRENT ASSETS 22,925 18,333
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,482

44,030

CREDITORS
Amounts falling due after more than one
year

7

(10,764

)

(16,578

)

PROVISIONS FOR LIABILITIES (3,906 ) (4,882 )
NET ASSETS 28,812 22,570

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 28,810 22,568
SHAREHOLDERS' FUNDS 28,812 22,570

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ROWLANDS PLASTERING LTD (REGISTERED NUMBER: 07625110)

BALANCE SHEET - continued
31 MAY 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 14 October 2024 and were signed on its behalf by:





E Rowlands - Director


ROWLANDS PLASTERING LTD (REGISTERED NUMBER: 07625110)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2024


1. STATUTORY INFORMATION

Rowlands Plastering Ltd 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

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ROWLANDS PLASTERING LTD (REGISTERED NUMBER: 07625110)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023
and 31 May 2024 13,306 254 35,995 583 50,138
DEPRECIATION
At 1 June 2023 6,853 87 17,071 430 24,441
Charge for year 1,290 34 3,785 31 5,140
At 31 May 2024 8,143 121 20,856 461 29,581
NET BOOK VALUE
At 31 May 2024 5,163 133 15,139 122 20,557
At 31 May 2023 6,453 167 18,924 153 25,697

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,000 23,894
Tax 459 3,310
VAT 7,492 4,744
37,951 31,948

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 812 2,521
Trade creditors 20,165 30,039
Tax 25,330 22,355
Pension creditor - 31
Directors' current accounts 6,852 19,345
Accrued expenses 1,180 1,120
54,339 75,411

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 10,764 16,578