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REGISTERED NUMBER: 04979969 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Rowells Transport Limited

Rowells Transport Limited (Registered number: 04979969)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rowells Transport Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: T Rowell
Mrs J A Rowell
G A Rowell
Ms D A Rowell





SECRETARY: T Rowell





REGISTERED OFFICE: Eldo House
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR





BUSINESS ADDRESS: Carters Bridge
Chatteris
Cambridgeshire
PE16 6UE





REGISTERED NUMBER: 04979969 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Rowells Transport Limited (Registered number: 04979969)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 858,544 956,599
Investment property 5 325,000 325,000
1,183,544 1,281,599

CURRENT ASSETS
Debtors 6 237,589 244,727
Cash at bank 222,235 197,057
459,824 441,784
CREDITORS
Amounts falling due within one year 7 413,654 451,018
NET CURRENT ASSETS/(LIABILITIES) 46,170 (9,234 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,229,714 1,272,365

CREDITORS
Amounts falling due after more than one
year

8

(38,178

)

(50,633

)

PROVISIONS FOR LIABILITIES 11 (215,237 ) (238,410 )
NET ASSETS 976,299 983,322

CAPITAL AND RESERVES
Called up share capital 12 300 300
Fair value reserve 13 11,686 11,686
Retained earnings 964,313 971,336
SHAREHOLDERS' FUNDS 976,299 983,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Rowells Transport Limited (Registered number: 04979969)

Balance Sheet - continued
31 December 2024


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 Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:




T Rowell - Director



Mrs J A Rowell - Director


Rowells Transport Limited (Registered number: 04979969)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Rowells Transport Limited is a private company, limited by shares , registered in England and Wales. 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 net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Lorries and trailers - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Rowells Transport Limited (Registered number: 04979969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, and loans from banks or other related parties.Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

Rowells Transport Limited (Registered number: 04979969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 2,521,829
Additions 188,618
Disposals (279,821 )
At 31 December 2024 2,430,626
DEPRECIATION
At 1 January 2024 1,565,230
Charge for year 269,698
Eliminated on disposal (262,846 )
At 31 December 2024 1,572,082
NET BOOK VALUE
At 31 December 2024 858,544
At 31 December 2023 956,599

Rowells Transport Limited (Registered number: 04979969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024 762,306
Additions 188,260
Transfer to ownership (480,851 )
At 31 December 2024 469,715
DEPRECIATION
At 1 January 2024 232,455
Charge for year 162,240
Transfer to ownership (269,872 )
At 31 December 2024 124,823
NET BOOK VALUE
At 31 December 2024 344,892
At 31 December 2023 529,851

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 325,000
NET BOOK VALUE
At 31 December 2024 325,000
At 31 December 2023 325,000

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2023 15,581
Cost 309,419
325,000

Rowells Transport Limited (Registered number: 04979969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 309,419 309,419

The investment property was valued on an open market basis on 31 December 2024 by the company directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 224,316 238,501
Other debtors 13,273 6,226
237,589 244,727

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 135,350 190,076
Trade creditors 39,463 32,692
Taxation and social security 180,004 169,381
Other creditors 58,837 58,869
413,654 451,018

Other creditors includes an amount due to the directors.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 38,178 50,633

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 135,350 190,076
Between one and five years 38,178 50,633
173,528 240,709

Rowells Transport Limited (Registered number: 04979969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 5,662 13,912
Between one and five years 16,050 17,700
In more than five years 3,678 7,691
25,390 39,303

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 173,528 240,709

The hire purchase contracts are secured on the assets acquired.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 211,342 234,515
Fair value reserve 3,895 3,895
215,237 238,410

Deferred
tax
£   
Balance at 1 January 2024 238,410
Provided during year (23,173 )
Balance at 31 December 2024 215,237

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary 'A' £1 200 200
100 Ordinary 'B' £1 100 100
300 300

Rowells Transport Limited (Registered number: 04979969)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

13. RESERVES
Fair
value
reserve
£   
At 1 January 2024
and 31 December 2024 11,686