IRIS Accounts Production v24.3.0.553 01588217 Board of Directors Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh015882172023-04-30015882172024-04-30015882172023-05-012024-04-30015882172022-04-30015882172022-05-012023-04-30015882172023-04-3001588217ns15:EnglandWales2023-05-012024-04-3001588217ns14:PoundSterling2023-05-012024-04-3001588217ns10:Director12023-05-012024-04-3001588217ns10:Director22023-05-012024-04-3001588217ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3001588217ns10:SmallEntities2023-05-012024-04-3001588217ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3001588217ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3001588217ns10:FullAccounts2023-05-012024-04-300158821712023-05-012024-04-3001588217ns10:OrdinaryShareClass12023-05-012024-04-3001588217ns10:CompanySecretary12023-05-012024-04-3001588217ns10:RegisteredOffice2023-05-012024-04-3001588217ns5:CurrentFinancialInstruments2024-04-3001588217ns5:CurrentFinancialInstruments2023-04-3001588217ns5:Non-currentFinancialInstruments2024-04-3001588217ns5:Non-currentFinancialInstruments2023-04-3001588217ns5:ShareCapital2024-04-3001588217ns5:ShareCapital2023-04-3001588217ns5:RetainedEarningsAccumulatedLosses2024-04-3001588217ns5:RetainedEarningsAccumulatedLosses2023-04-3001588217ns5:NetGoodwill2023-05-012024-04-3001588217ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3001588217ns5:LeaseholdImprovements2023-05-012024-04-3001588217ns5:PlantMachinery2023-05-012024-04-3001588217ns5:FurnitureFittings2023-05-012024-04-3001588217ns5:MotorVehicles2023-05-012024-04-3001588217ns5:ComputerEquipment2023-05-012024-04-3001588217ns5:NetGoodwill2023-04-3001588217ns5:NetGoodwill2024-04-3001588217ns5:NetGoodwill2023-04-3001588217ns5:LeaseholdImprovements2023-04-3001588217ns5:PlantMachinery2023-04-3001588217ns5:FurnitureFittings2023-04-3001588217ns5:LeaseholdImprovements2024-04-3001588217ns5:PlantMachinery2024-04-3001588217ns5:FurnitureFittings2024-04-3001588217ns5:LeaseholdImprovements2023-04-3001588217ns5:PlantMachinery2023-04-3001588217ns5:FurnitureFittings2023-04-3001588217ns5:MotorVehicles2023-04-3001588217ns5:ComputerEquipment2023-04-3001588217ns5:MotorVehicles2024-04-3001588217ns5:ComputerEquipment2024-04-3001588217ns5:MotorVehicles2023-04-3001588217ns5:ComputerEquipment2023-04-3001588217ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-3001588217ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-012024-04-3001588217ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-04-3001588217ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-3001588217ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3001588217ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3001588217ns5:HirePurchaseContractsns5:WithinOneYear2024-04-3001588217ns5:HirePurchaseContractsns5:WithinOneYear2023-04-3001588217ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-04-3001588217ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-04-3001588217ns5:HirePurchaseContracts2024-04-3001588217ns5:HirePurchaseContracts2023-04-3001588217ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3001588217ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3001588217ns5:WithinOneYear2024-04-3001588217ns5:WithinOneYear2023-04-3001588217ns5:BetweenOneFiveYears2024-04-3001588217ns5:BetweenOneFiveYears2023-04-3001588217ns5:AllPeriods2024-04-3001588217ns5:AllPeriods2023-04-3001588217ns5:Secured2024-04-3001588217ns5:Secured2023-04-3001588217ns5:DeferredTaxation2023-04-3001588217ns5:DeferredTaxation2023-05-012024-04-3001588217ns5:DeferredTaxation2024-04-3001588217ns10:OrdinaryShareClass12024-04-3001588217ns5:RetainedEarningsAccumulatedLosses2023-04-3001588217ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-30
REGISTERED NUMBER: 01588217 (England and Wales)











Financial Statements for the Year Ended 30 April 2024

for

ROWLEYS OF NORTHWICH LIMITED

ROWLEYS OF NORTHWICH LIMITED (REGISTERED NUMBER: 01588217)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROWLEYS OF NORTHWICH LIMITED

Company Information
for the Year Ended 30 April 2024







DIRECTORS: P A Rowley
R Rowley



SECRETARY: R Rowley



REGISTERED OFFICE: Wincham Lane
Wincham
Northwich
Cheshire
CW9 6DE



REGISTERED NUMBER: 01588217 (England and Wales)



ACCOUNTANT: Mourne & Co
10 Market Street
Chapel-en-le-Frith
High Peak
Derbyshire
SK23 0HH



BANKERS: National Westminster Bank Plc
The Bull Ring
Northwich
Cheshire
CW9 5BN



SOLICITORS: Dixon Rigby Keogh
2 Watling Street
Northwich
Cheshire
CW9 5EX

ROWLEYS OF NORTHWICH LIMITED (REGISTERED NUMBER: 01588217)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 12,538,150 11,297,057
12,538,150 11,297,057

CURRENT ASSETS
Stocks 7 60,000 60,000
Debtors 8 601,308 662,646
Cash at bank and in hand 8,372,304 8,913,468
9,033,612 9,636,114
CREDITORS
Amounts falling due within one year 9 3,795,225 4,525,756
NET CURRENT ASSETS 5,238,387 5,110,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,776,537

16,407,415

CREDITORS
Amounts falling due after more than one
year

10

(5,917,898

)

(5,360,487

)

PROVISIONS FOR LIABILITIES 14 (469,000 ) (419,000 )
NET ASSETS 11,389,639 10,627,928

CAPITAL AND RESERVES
Called up share capital 15 100,000 100,000
Retained earnings 16 11,289,639 10,527,928
SHAREHOLDERS' FUNDS 11,389,639 10,627,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

ROWLEYS OF NORTHWICH LIMITED (REGISTERED NUMBER: 01588217)

Balance Sheet - continued
30 April 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 12 September 2024 and were signed on its behalf by:




P A Rowley - Director



R Rowley - Director


ROWLEYS OF NORTHWICH LIMITED (REGISTERED NUMBER: 01588217)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Rowleys of Northwich 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principal accounting policies adopted in the preparation of the financial statements are set out below.

The financial statements have been prepared under the historic cost convention, except for modification to a fair value basis for certain fixed assets, as specified in the accounting policies below.

Turnover
Turnover represents net invoiced sales of vehicle hire contracts and associated maintenance, and commercial vehicle repair services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business several years ago, has been fully amortised.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Property & site improvements - at variable rates on reducing balance
Plant & machinery - 20% on reducing balance
Fixtures & fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer & office equipment - 33% 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.

Financial instruments
The following assets and liabilities are classified as financial instruments; trade debtors, trade creditors, bank loans and directors loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

ROWLEYS OF NORTHWICH LIMITED (REGISTERED NUMBER: 01588217)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. ACCOUNTING POLICIES - continued

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company and are independently administered. The pension costs charged represent contributions payable for the period by the company to the scheme.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 36 ) .

ROWLEYS OF NORTHWICH LIMITED (REGISTERED NUMBER: 01588217)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 15,000
AMORTISATION
At 1 May 2023
and 30 April 2024 15,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

6. TANGIBLE FIXED ASSETS
Property
& site Plant & Fixtures
improvements machinery & fittings
£    £    £   
COST
At 1 May 2023 445,897 226,628 81,352
Additions - - -
Disposals - - -
At 30 April 2024 445,897 226,628 81,352
DEPRECIATION
At 1 May 2023 406,724 201,777 78,694
Charge for year 3,917 4,970 398
Eliminated on disposal - - -
At 30 April 2024 410,641 206,747 79,092
NET BOOK VALUE
At 30 April 2024 35,256 19,881 2,260
At 30 April 2023 39,173 24,851 2,658

ROWLEYS OF NORTHWICH LIMITED (REGISTERED NUMBER: 01588217)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


6. TANGIBLE FIXED ASSETS - continued

Computer
Motor & office
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 21,442,630 70,607 22,267,114
Additions 4,755,512 1,194 4,756,706
Disposals (2,147,380 ) - (2,147,380 )
At 30 April 2024 24,050,762 71,801 24,876,440
DEPRECIATION
At 1 May 2023 10,219,236 63,626 10,970,057
Charge for year 2,936,240 2,722 2,948,247
Eliminated on disposal (1,580,014 ) - (1,580,014 )
At 30 April 2024 11,575,462 66,348 12,338,290
NET BOOK VALUE
At 30 April 2024 12,475,300 5,453 12,538,150
At 30 April 2023 11,223,394 6,981 11,297,057

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 18,484,458
Additions 4,681,412
Transfer to ownership (5,789,593 )
At 30 April 2024 17,376,277
DEPRECIATION
At 1 May 2023 7,390,980
Charge for year 2,743,713
Transfer to ownership (4,415,722 )
At 30 April 2024 5,718,971
NET BOOK VALUE
At 30 April 2024 11,657,306
At 30 April 2023 11,093,478

7. STOCKS
30.4.24 30.4.23
£    £   
Stocks 60,000 60,000

ROWLEYS OF NORTHWICH LIMITED (REGISTERED NUMBER: 01588217)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 476,618 475,441
Firow Limited 2,071 3,449
VAT - 114,614
Prepayments 122,619 69,142
601,308 662,646

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts (see note 11) 38,657 50,467
Hire purchase contracts (see note 12) 2,837,061 3,360,151
Trade creditors 400,236 884,865
Corporation tax 339,580 180,516
Social security & other taxes 40,587 38,952
VAT 95,814 -
Accrued expenses 43,290 10,805
3,795,225 4,525,756

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 12) 5,917,898 5,360,487

11. LOANS

An analysis of the maturity of loans is given below:

30.4.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 38,657 50,467

ROWLEYS OF NORTHWICH LIMITED (REGISTERED NUMBER: 01588217)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


12. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Gross obligations repayable:
Within one year 2,837,061 3,360,151
Between one and five years 6,965,014 6,122,265
9,802,075 9,482,416

Finance charges repayable:
Between one and five years 1,047,116 761,778

Net obligations repayable:
Within one year 2,837,061 3,360,151
Between one and five years 5,917,898 5,360,487
8,754,959 8,720,638

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 71,000 71,000
Between one and five years 53,250 124,250
124,250 195,250

13. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank overdrafts 38,657 50,467
Hire purchase contracts 8,754,959 8,720,638
8,793,616 8,771,105

All providers of HP finance and lease finance hold floating charges respectively over the particular assets subject to the agreement and all such charges are registered at Companies House.

14. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 469,000 419,000

ROWLEYS OF NORTHWICH LIMITED (REGISTERED NUMBER: 01588217)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


14. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 419,000
Provided during year 50,000
Balance at 30 April 2024 469,000

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100,000 Ordinary £1 100,000 100,000

16. RESERVES
Retained
earnings
£   

At 1 May 2023 10,527,928
Profit for the year 1,161,711
Dividends (400,000 )
At 30 April 2024 11,289,639

17. RELATED PARTY DISCLOSURES

During the year, total dividends of £400,000 were paid to the directors .

During the year the company made sales to and acquired purchases from Firow Limited on normal commercial terms. The value of these transactions were sales £42,342 (2023 £46,117) and purchases £37,228 (2023 £4,500) excluding value added tax respectively. At the balance sheet date, an amount of £2,071 (2023 £3,449) was owed by Firow Limited.

P A Rowley was throughout the year a director and controlling party of Firow Limited.

18. ULTIMATE CONTROLLING PARTY

The controlling party is P A Rowley.

The ultimate controlling party is P A Rowley.