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REGISTERED NUMBER: SC134490 (Scotland)
















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Rowanfield Limited

Rowanfield Limited (Registered number: SC134490)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rowanfield Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Saeed Ahmad





SECRETARY: Faiz Ahmad





REGISTERED OFFICE: 4 The Beeches
Brookfield
Johnstone
PA5 8UZ





REGISTERED NUMBER: SC134490 (Scotland)





ACCOUNTANTS: McLay, McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Rowanfield Limited (Registered number: SC134490)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 13,291,788 11,097,917

CURRENT ASSETS
Debtors 5 176,702 232,844
Cash at bank 395,893 2,020,673
572,595 2,253,517
CREDITORS
Amounts falling due within one year 6 (1,458,382 ) (1,580,837 )
NET CURRENT (LIABILITIES)/ASSETS (885,787 ) 672,680
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,406,001

11,770,597

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 7 1,518,609 1,518,609
Retained earnings 7 10,877,392 10,241,988
SHAREHOLDERS' FUNDS 12,406,001 11,770,597

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 12 February 2025 and were signed by:





Saeed Ahmad - Director


Rowanfield Limited (Registered number: SC134490)

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

1. STATUTORY INFORMATION

Rowanfield Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable from investment properties net of VAT. All turnover which is from continuing operations is attributable to the principal activity.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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.


Rowanfield Limited (Registered number: SC134490)

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

2. ACCOUNTING POLICIES - continued
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.

Investment properties
Investment properties are shown at fair value, with movement recognised in the profit and loss account for the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Investment and Computer
properties fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 11,097,735 2,533 1,427 11,101,695
Additions 2,193,912 - - 2,193,912
At 30 June 2024 13,291,647 2,533 1,427 13,295,607
DEPRECIATION
At 1 July 2023 - 2,417 1,361 3,778
Charge for year - 24 17 41
At 30 June 2024 - 2,441 1,378 3,819
NET BOOK VALUE
At 30 June 2024 13,291,647 92 49 13,291,788
At 30 June 2023 11,097,735 116 66 11,097,917

The valuations of investment properties were made at 30 June 2024 by the directors on an open market basis.

On a historical cost basis these properties would have been included at original cost of £12,144,800, (2023: £9,950,888)

If the properties were sold at valuation, no potential tax would arise (2023: NIL).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 176,702 232,844

Rowanfield Limited (Registered number: SC134490)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Tax 211,573 166,964
Other creditors 1,246,809 1,413,873
1,458,382 1,580,837

7. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 10,241,988 1,518,609 11,760,597
Profit for the year 635,404 635,404
At 30 June 2024 10,877,392 1,518,609 12,396,001

8. RELATED PARTY DISCLOSURES

Loans from the director together with members of his immediate family can be summarised as follows:


As at
01/07/23

Movement
As at
30/06/24
£ £ £
Saeed Ahmad 423,779 (200,855) 222,924
Faiz Ahmad - - -
Maimoonah Ahmad 945 (945) -
Rizwan Ahmad 425,826 - 425,826
Rehan Ahmad 393,743 - 393,743
1,244,293 (202,530) 1,042,493

These loans are included in Creditors amounts falling due within one year.