6 29/02/2024 2024-02-29 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-03-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 1185410 2023-03-01 2024-02-29 1185410 2024-02-29 1185410 2023-02-28 1185410 2022-03-01 2023-02-28 1185410 2023-02-28 1185410 2022-02-28 1185410 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 1185410 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 1185410 bus:Director4 2023-03-01 2024-02-29 1185410 core:WithinOneYear 2024-02-29 1185410 core:WithinOneYear 2023-02-28 1185410 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 1185410 core:FurnitureFittingsToolsEquipment 2023-02-28 1185410 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-29 1185410 core:FurnitureFittingsToolsEquipment 2024-02-29 1185410 core:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 1185410 core:RevaluationReserve 2023-03-01 2024-02-29 1185410 core:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 1185410 core:ShareCapital 2024-02-29 1185410 core:ShareCapital 2023-02-28 1185410 core:RevaluationReserve 2024-02-29 1185410 core:RevaluationReserve 2023-02-28 1185410 core:RetainedEarningsAccumulatedLosses 2024-02-29 1185410 core:RetainedEarningsAccumulatedLosses 2023-02-28 1185410 core:ShareCapital 2022-02-28 1185410 core:RevaluationReserve 2022-02-28 1185410 core:RetainedEarningsAccumulatedLosses 2022-02-28 1185410 bus:OrdinaryShareClass1 core:ShareCapital 2024-02-29 1185410 bus:OrdinaryShareClass1 core:ShareCapital 2023-02-28 1185410 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 1185410 core:AcceleratedTaxDepreciationDeferredTax 2024-02-29 1185410 core:AcceleratedTaxDepreciationDeferredTax 2023-02-28 1185410 core:RevaluationInvestmentPropertyDeferredTax 2024-02-29 1185410 core:RevaluationInvestmentPropertyDeferredTax 2023-02-28 1185410 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 1185410 core:FurnitureFittingsToolsEquipment 2023-02-28 1185410 bus:SmallEntities 2023-03-01 2024-02-29 1185410 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 1185410 bus:FullAccounts 2023-03-01 2024-02-29 1185410 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 1185410 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 1185410 core:AccruedLiabilitiesDeferredTax 2024-02-29
Company registration number: 1185410
Rownshurst Limited
Unaudited filleted financial statements
29 February 2024
Rownshurst Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Rownshurst Limited
Statement of financial position
29 February 2024
29/02/24 28/02/23
Note £ £ £ £
Fixed assets
Tangible assets 5 1,629,331 2,031,596
_______ _______
1,629,331 2,031,596
Current assets
Debtors 6 51,360 53,096
Cash at bank and in hand 1,176,035 624,406
_______ _______
1,227,395 677,502
Creditors: amounts falling due
within one year 7 ( 644,233) ( 93,857)
_______ _______
Net current assets 583,162 583,645
_______ _______
Total assets less current liabilities 2,212,493 2,615,241
Provisions for liabilities ( 12,856) ( 70,349)
_______ _______
Net assets 2,199,637 2,544,892
_______ _______
Capital and reserves
Called up share capital 9 100 100
Revaluation reserve 652,084 918,150
Profit and loss account 1,547,453 1,626,642
_______ _______
Shareholders funds 2,199,637 2,544,892
_______ _______
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 February 2025 , and are signed on behalf of the board by:
...................................
Ms K J Stedman
Director
Company registration number: 1185410
Rownshurst Limited
Statement of changes in equity
Period ended 29 February 2024
Called up share capital Fair Value reserve Profit and loss account Total
£ £ £ £
At 1 March 2022 100 918,150 1,626,741 2,544,991
Loss for the period ( 99) ( 99)
_______ _______ _______ _______
Total comprehensive income for the period - - ( 99) ( 99)
_______ _______ _______ _______
At 28 February 2023 and 1 March 2023 100 918,150 1,626,642 2,544,892
Loss for the period ( 345,255) ( 345,255)
Other comprehensive income for the period:
Fair Value Reserve Transfer - ( 266,066) 266,066 -
_______ _______ _______ _______
Total comprehensive income for the period - ( 266,066) ( 79,189) ( 345,255)
_______ _______ _______ _______
At 29 February 2024 100 652,084 1,547,453 2,199,637
_______ _______ _______ _______
Rownshurst Limited
Notes to the financial statements
Period ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is The Estate Office Unit 19, Star Trading Estate, Ponthir, Caerleon, Gwent, NP18 1PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 6 (2023: 6 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost or valuation
At 1 March 2023 2,029,604 4,125 2,033,729
Additions - 9,672 9,672
Revaluation ( 409,604) - ( 409,604)
_______ _______ _______
At 29 February 2024 1,620,000 13,797 1,633,797
_______ _______ _______
Depreciation
At 1 March 2023 - 2,133 2,133
Charge for the year - 2,333 2,333
_______ _______ _______
At 29 February 2024 - 4,466 4,466
_______ _______ _______
Carrying amount
At 29 February 2024 1,620,000 9,331 1,629,331
_______ _______ _______
At 28 February 2023 2,029,604 1,992 2,031,596
_______ _______ _______
Investment property
Included within the above is investment property measured at fair value as follows:
£
At 1 March 2023 2,029,604
Fair value adjustments ( 409,604)
_______
At 29 February 2024 1,620,000
_______
The properties were revalued during the year by Graham & Co Chartered Surveyors on 24 February 2024.
6. Debtors
29/02/24 28/02/23
£ £
Trade debtors 21,903 21,966
Prepayments and accrued income 5,974 5,672
Social security and other taxes 3,361 3,807
Other debtors 20,122 21,651
_______ _______
51,360 53,096
_______ _______
7. Creditors: amounts falling due within one year
29/02/24 28/02/23
£ £
Trade creditors 7,193 4,311
Accruals and deferred income 32,035 50,240
Social security and other taxes 317 294
Other creditors 604,688 39,012
_______ _______
644,233 93,857
_______ _______
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
29/02/24 28/02/23
£ £
Included in provisions (note ) 12,856 70,349
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
29/02/24 28/02/23
£ £
Accelerated capital allowances 1,773 379
Fair value adjustment of investment property 10,671 69,970
Timing difference on interest 413 -
_______ _______
12,857 70,349
_______ _______
9. Called up share capital
Issued, called up and fully paid
29/02/24 28/02/23
No £ No £
Ordinary shares shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
10. Related Parties
The company is owed £20,396 by an entity under the control of the director Mr D C Stedman and interest is charged on this balance. The company also owes £302,487 to entities where the director Mr D C Stedman either has control or significant influence. No interest has been charged on these balances.