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Registration number: 13359899

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

for
 

Rowcave Limited

 

Rowcave Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Rowcave Limited

Company Information

Director:

Mr T P Rigden

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

13359899

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Rowcave Limited

(Registration number: 13359899)
Balance Sheet as at 30 April 2024

Note

30.04.24

(As restated)

30.04.23

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

1,298

 

2,125

CURRENT ASSETS

   

 

Debtors

5

38

 

2,776

 

Cash at bank and in hand

 

4,235

 

35

 

 

4,273

 

2,811

 

CREDITORS

   

 

Creditors within 1yr

6

57,358

 

53,110

 

Net current liabilities

   

(53,085)

 

(50,299)

Total assets less current liabilities

   

(51,787)

 

(48,174)

Creditors
Amounts falling due after more than one year

6

 

42,067

 

42,067

Net liabilities

   

(93,854)

 

(90,241)

CAPITAL AND RESERVES

   

 

Called up share capital

 

1

 

1

Profit and loss account

 

(93,855)

 

(90,242)

Shareholders' deficit

   

(93,854)

 

(90,241)

For the financial 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Rowcave Limited

(Registration number: 13359899)
Balance Sheet as at 30 April 2024 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 January 2025

.........................................
Mr T P Rigden
Director

 

Rowcave Limited

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

1.

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the director on 29 January 2025.

2.

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis on the understanding that the director will continue to support the business for at least 12 months from the date of signing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Rowcave Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Computer equipment

Straight line method on 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Rowcave Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

3.

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4.

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

3,309

3,309

At 30 April 2024

3,309

3,309

Depreciation

At 1 May 2023

1,184

1,184

Charge for the year

827

827

At 30 April 2024

2,011

2,011

Carrying amount

At 30 April 2024

1,298

1,298

At 30 April 2023

2,125

2,125

5.

Debtors

Current

30.04.24
£

30.04.23
£

Other debtors

38

2,776

 

38

2,776

 

Rowcave Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6.

Creditors

Creditors: amounts falling due within one year

Note

30.04.24
£

(As restated)

30.04.23
£

Due within one year

 

Loans and borrowings

7

-

15,338

Trade creditors

 

-

8,502

Accruals and deferred income

 

480

540

Other creditors

 

56,878

28,730

 

57,358

53,110

Included in other creditors is £56,878 owed by the company to the director at the year-end. No interest or repayment terms have been set.

Creditors: amounts falling due after more than one year

Note

30.04.24
£

30.04.23
£

Due after one year

 

Loans and borrowings

7

42,067

42,067

7.

Loans and borrowings

30.04.24
£

30.04.23
£

Non-current loans and borrowings

Other borrowings

42,067

42,067

30.04.24
£

30.04.23
£

Current loans and borrowings

Bank overdrafts

-

15,338