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
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29/02/24 |
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28/02/23 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
|
5 |
1,629,331 |
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2,031,596 |
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|
|
|
_______ |
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_______ |
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1,629,331 |
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2,031,596 |
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Current assets |
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Debtors |
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6 |
51,360 |
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53,096 |
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Cash at bank and in hand |
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1,176,035 |
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624,406 |
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_______ |
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_______ |
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1,227,395 |
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677,502 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
644,233) |
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|
(
93,857) |
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_______ |
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_______ |
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Net current assets |
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583,162 |
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583,645 |
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_______ |
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_______ |
Total assets less current liabilities |
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2,212,493 |
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2,615,241 |
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Provisions for liabilities |
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(
12,856) |
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(
70,349) |
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_______ |
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_______ |
Net assets |
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2,199,637 |
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2,544,892 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
|
9 |
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|
100 |
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|
100 |
Revaluation reserve |
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652,084 |
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918,150 |
Profit and loss account |
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1,547,453 |
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1,626,642 |
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_______ |
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_______ |
Shareholders funds |
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2,199,637 |
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2,544,892 |
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_______ |
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_______ |
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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
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Called up share capital |
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Fair Value reserve |
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Profit and loss account |
Total |
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£ |
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£ |
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£ |
£ |
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At 1 March 2022 |
|
100 |
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918,150 |
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1,626,741 |
2,544,991 |
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Loss for the period |
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(
99) |
(
99) |
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_______ |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the period |
|
- |
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- |
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(
99) |
(
99) |
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_______ |
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_______ |
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_______ |
_______ |
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At 28 February 2023 and 1 March 2023 |
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100 |
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918,150 |
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1,626,642 |
2,544,892 |
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Loss for the period |
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(
345,255) |
(
345,255) |
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Other comprehensive income for the period: |
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Fair Value Reserve Transfer |
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- |
|
(
266,066) |
|
266,066 |
- |
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_______ |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the period |
|
- |
|
(
266,066) |
|
(
79,189) |
(
345,255) |
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_______ |
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_______ |
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_______ |
_______ |
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At 29 February 2024 |
|
100 |
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652,084 |
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1,547,453 |
2,199,637 |
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_______ |
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_______ |
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_______ |
_______ |
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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:
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Fittings fixtures and equipment |
- |
20 % |
reducing balance |
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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
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Freehold property |
Fixtures, fittings and equipment |
Total |
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£ |
£ |
£ |
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Cost or valuation |
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At 1 March 2023 |
2,029,604 |
4,125 |
2,033,729 |
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Additions |
- |
9,672 |
9,672 |
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Revaluation |
(
409,604) |
- |
(
409,604) |
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_______ |
_______ |
_______ |
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At 29 February 2024 |
1,620,000 |
13,797 |
1,633,797 |
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_______ |
_______ |
_______ |
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Depreciation |
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At 1 March 2023 |
- |
2,133 |
2,133 |
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Charge for the year |
- |
2,333 |
2,333 |
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_______ |
_______ |
_______ |
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At 29 February 2024 |
- |
4,466 |
4,466 |
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_______ |
_______ |
_______ |
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Carrying amount |
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At 29 February 2024 |
1,620,000 |
9,331 |
1,629,331 |
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_______ |
_______ |
_______ |
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At 28 February 2023 |
2,029,604 |
1,992 |
2,031,596 |
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_______ |
_______ |
_______ |
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Investment property
Included within the above is investment property measured at fair value as follows:
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|
£ |
|
At 1 March 2023 |
2,029,604 |
|
Fair value adjustments |
(
409,604) |
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_______ |
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At 29 February 2024 |
1,620,000 |
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_______ |
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The properties were revalued during the year by Graham & Co Chartered Surveyors on 24 February 2024.
6.
Debtors
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29/02/24 |
28/02/23 |
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£ |
£ |
|
Trade debtors |
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21,903 |
21,966 |
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Prepayments and accrued income |
|
5,974 |
5,672 |
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Social security and other taxes |
|
3,361 |
3,807 |
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Other debtors |
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20,122 |
21,651 |
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_______ |
_______ |
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51,360 |
53,096 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
|
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|
29/02/24 |
28/02/23 |
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|
£ |
£ |
|
Trade creditors |
|
7,193 |
4,311 |
|
Accruals and deferred income |
|
32,035 |
50,240 |
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Social security and other taxes |
|
317 |
294 |
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Other creditors |
|
604,688 |
39,012 |
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_______ |
_______ |
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644,233 |
93,857 |
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_______ |
_______ |
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8.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
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29/02/24 |
28/02/23 |
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|
|
£ |
£ |
|
Included in provisions (note ) |
|
12,856 |
70,349 |
|
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|
_______ |
_______ |
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The deferred tax account consists of the tax effect of timing differences in respect of:
|
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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 |
|
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_______ |
_______ |
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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 |
|
|
|
_______ |
|
_______ |
|
_______ |
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_______ |
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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.