Company registration number 04734422 (England and Wales)
RAWLS & CO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
RAWLS & CO LIMITED
COMPANY INFORMATION
Director
J P Sherwood-Rogers
Secretary
P McCretton
Company number
04734422
Registered office
5 Technology Park
Colindeep Lane
London
United Kingdom
NW9 6BX
Accountants
Grunberg & Co Limited
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX
RAWLS & CO LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
RAWLS & CO LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
30,389
40,413
Current assets
Debtors
4
674,490
513,168
Cash at bank and in hand
816,418
1,011,532
1,490,908
1,524,700
Creditors: amounts falling due within one year
5
(230,926)
(352,732)
Net current assets
1,259,982
1,171,968
Total assets less current liabilities
1,290,371
1,212,381
Provisions for liabilities
(7,341)
(9,789)
Net assets
1,283,030
1,202,592
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
1,283,028
1,202,590
Total equity
1,283,030
1,202,592

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 20 November 2024
J P  Sherwood-Rogers
Director
Company registration number 04734422 (England and Wales)
RAWLS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Rawls & Co Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Technology Park, Colindeep Lane, London, United Kingdom, NW9 6BX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of services, excluding valued assed tax. Income is recognised at the point of delivery of the service.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on costs
Computer equipment
33% on reducing balance
Motor vehicles
20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

RAWLS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

RAWLS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

 

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

RAWLS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
16
17
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
49,959
97,635
47,223
194,817
Additions
874
11,624
-
0
12,498
At 30 April 2024
50,833
109,259
47,223
207,315
Depreciation and impairment
At 1 May 2023
47,186
79,337
27,881
154,404
Depreciation charged in the year
1,712
16,941
3,869
22,522
At 30 April 2024
48,898
96,278
31,750
176,926
Carrying amount
At 30 April 2024
1,935
12,981
15,473
30,389
At 30 April 2023
2,773
18,298
19,342
40,413
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
645,649
466,709
Other debtors
833
-
0
Prepayments and accrued income
28,008
46,459
674,490
513,168
RAWLS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
15,172
69,949
Corporation tax
76,543
94,504
Other taxation and social security
117,903
165,917
Other creditors
13,960
10,569
Accruals and deferred income
7,348
11,793
230,926
352,732
2024-04-302023-05-01false20 November 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityJ P Sherwood-RogersP McCrettonfalsefalse047344222023-05-012024-04-3004734422bus:Director12023-05-012024-04-3004734422bus:CompanySecretary12023-05-012024-04-3004734422bus:RegisteredOffice2023-05-012024-04-30047344222024-04-30047344222023-04-3004734422core:FurnitureFittings2024-04-3004734422core:ComputerEquipment2024-04-3004734422core:MotorVehicles2024-04-3004734422core:FurnitureFittings2023-04-3004734422core:ComputerEquipment2023-04-3004734422core:MotorVehicles2023-04-3004734422core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3004734422core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3004734422core:CurrentFinancialInstruments2024-04-3004734422core:CurrentFinancialInstruments2023-04-3004734422core:ShareCapital2024-04-3004734422core:ShareCapital2023-04-3004734422core:RetainedEarningsAccumulatedLosses2024-04-3004734422core:RetainedEarningsAccumulatedLosses2023-04-3004734422core:FurnitureFittings2023-05-012024-04-3004734422core:ComputerEquipment2023-05-012024-04-3004734422core:MotorVehicles2023-05-012024-04-30047344222022-05-012023-04-3004734422core:FurnitureFittings2023-04-3004734422core:ComputerEquipment2023-04-3004734422core:MotorVehicles2023-04-30047344222023-04-3004734422bus:PrivateLimitedCompanyLtd2023-05-012024-04-3004734422bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3004734422bus:FRS1022023-05-012024-04-3004734422bus:AuditExempt-NoAccountantsReport2023-05-012024-04-3004734422bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP