Company Registration No. 6556097 (England and Wales)
Rowan Engineering Ltd
Unaudited accounts
for the year ended 30 April 2024
Rowan Engineering Ltd
Unaudited accounts
Contents
Rowan Engineering Ltd
Company Information
for the year ended 30 April 2024
Directors
Mr D E Rose
Mr D K Rose
Company Number
6556097 (England and Wales)
Registered Office
Unit 8
Overfield Industrial Estate Thorpe Way
Banbury
Oxfordshire
OX16 4XR
England
Accountants
Anthistle Craven
Moreton House
31 High Street
Buckingham
Bucks
MK18 1NU
Rowan Engineering Ltd
Statement of financial position
as at 30 April 2024
Intangible assets
29,005
24,334
Tangible assets
68,292
65,980
Cash at bank and in hand
82,516
71,627
Creditors: amounts falling due within one year
(44,509)
(63,165)
Net current assets
95,548
54,650
Total assets less current liabilities
193,483
145,602
Provisions for liabilities
Deferred tax
(10,588)
(14,866)
Net assets
182,895
130,736
Called up share capital
224
224
Profit and loss account
182,671
130,512
Shareholders' funds
182,895
130,736
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by
Mr D K Rose
Director
Company Registration No. 6556097
Rowan Engineering Ltd
Notes to the Accounts
for the year ended 30 April 2024
Rowan Engineering Ltd is a private company, limited by shares, registered in England and Wales, registration number 6556097. The registered office is Unit 8, Overfield Industrial Estate Thorpe Way, Banbury, Oxfordshire, OX16 4XR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Rowan Engineering Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Intangible fixed assets
Other
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 May 2023
37,752
381,705
5,846
4,519
429,822
Additions
13,768
733
-
1,038
15,539
Disposals
(4,880)
(3,356)
-
(1,882)
(10,118)
At 30 April 2024
46,640
379,082
5,846
3,675
435,243
At 1 May 2023
-
354,657
5,311
3,874
363,842
Charge for the year
-
6,369
134
471
6,974
On disposals
-
(2,238)
-
(1,627)
(3,865)
At 30 April 2024
-
358,788
5,445
2,718
366,951
At 30 April 2024
46,640
20,294
401
957
68,292
At 30 April 2023
37,752
27,048
535
645
65,980
6
Investments
Other investments
Valuation at 1 May 2023
638
Valuation at 30 April 2024
638
Amounts falling due within one year
Trade debtors
39,837
28,949
Accrued income and prepayments
2,287
2,324
Rowan Engineering Ltd
Notes to the Accounts
for the year ended 30 April 2024
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
19,071
13,569
Taxes and social security
13,791
29,274
Other creditors
2,788
2,637
Loans from directors
6,755
6,755
9
Average number of employees
During the year the average number of employees was 8 (2023: 5).