REGISTERED NUMBER: |
ROWHIRE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
REGISTERED NUMBER: |
ROWHIRE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
ROWHIRE LIMITED (REGISTERED NUMBER: 05896794) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 | to | 5 |
ROWHIRE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
4 Henley Way |
Doddington Road |
Lincoln |
Lincolnshire |
LN6 3QR |
ROWHIRE LIMITED (REGISTERED NUMBER: 05896794) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
ROWHIRE LIMITED (REGISTERED NUMBER: 05896794) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Rowhire Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
When the outcome of a transaction can be estimated reliably, turnover from renting gym equipment is recognised by reference to the stage of completion at the statement of financial position. Stage of completion is measured by reference to receipt of monies from renting equipment. |
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
Interest received is recorded as it is received from the bank for interest on monies kept in accounts. |
Tangible fixed assets |
Tangible fixed assets are held at cost less depreciation. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Gym equipment - pro scheme | - | over the length of the agreement |
Gym equipment - other | - | Nil |
Fixtures and fittings | - | 25% on cost |
Plant and machinery | - | 20% on cost |
Gym equipment is regularly serviced and maintained to high standards. In the opinion of the director, this ensures that the value of an individual item of gym equipment never falls below the original cost of purchasing the asset. Consequently no depreciation is charged. Where an asset is to be disposed of under a Pro Scheme contract, the asset is written down over the length of the agreement, either 11, 15 or 18 months. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
ROWHIRE LIMITED (REGISTERED NUMBER: 05896794) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2024 |
Additions |
Disposals | ( |
) |
Reclassification/transfer |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts owed by group undertakings are unsecured, interest free and repayable on demand. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Amounts owed to group undertakings are unsecured, interest free and repayable on demand. |
ROWHIRE LIMITED (REGISTERED NUMBER: 05896794) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | 1 | 585,100 | 585,100 |
Ordinary B | 1 | 100 | 100 |
585,200 | 585,200 |