Registered number
12556510
George Rowell Ltd
Unaudited Filleted Accounts
31 January 2024
George Rowell Ltd
Registered number: 12556510
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 210,000 240,000
Tangible assets 4 613 766
210,613 240,766
Current assets
Debtors 5 986,177 923,532
Cash at bank and in hand 6,002 20,652
992,179 944,184
Creditors: amounts falling due within one year 6 (306,197) (430,051)
Net current assets 685,982 514,133
Total assets less current liabilities 896,595 754,899
Creditors: amounts falling due after more than one year 7 (25,000) -
Provisions for liabilities - (90)
Net assets 871,595 754,809
Capital and reserves
Called up share capital 100 100
Profit and loss account 871,495 754,709
Shareholder's funds 871,595 754,809
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
George Rowell
Director
Approved by the board on 31 January 2025
George Rowell Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 300,000
At 31 January 2024 300,000
Amortisation
At 1 February 2023 60,000
Provided during the year 30,000
At 31 January 2024 90,000
Net book value
At 31 January 2024 210,000
At 31 January 2023 240,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 766
At 31 January 2024 766
Depreciation
Charge for the year 153
At 31 January 2024 153
Net book value
At 31 January 2024 613
At 31 January 2023 766
5 Debtors 2024 2023
£ £
Trade debtors and work in progress 364,102 584,127
Intercompany Loan 622,075 339,405
986,177 923,532
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,450 -
Trade creditors - 5,025
VAT 55,689 102,058
Directors loan account 65,473 218,384
VAT
Taxation and social security costs 174,585 104,584
306,197 430,051
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 25,000 -
8 Other information
George Rowell Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Exchange Chambers
201 Deansgate
Manchester
M3 3NW
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