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REGISTRAR OF COMPANIES

Registration number: 08002283

Rowley Healthcare Limited

Unaudited Financial Statements

31 March 2025

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Rowley Healthcare Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Rowley Healthcare Limited
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rowley Healthcare Limited for the year ended 31 March 2025 as set out on pages 2 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Rowley Healthcare Limited, as a body, in accordance with the terms of our engagement letter dated 10 June 2024. Our work has been undertaken solely to prepare for your approval the accounts of Rowley Healthcare Limited and state those matters that we have agreed to state to the Board of Directors of Rowley Healthcare Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rowley Healthcare Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Rowley Healthcare Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Rowley Healthcare Limited. You consider that Rowley Healthcare Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Rowley Healthcare Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

19 June 2025

 

Rowley Healthcare Limited

(Registration number: 08002283)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

212,425

252,600

Tangible assets

5

551,398

538,765

Investments

6

950,000

950,000

 

1,713,823

1,741,365

Current assets

 

Stocks

30,667

18,766

Debtors

7

195,820

113,720

Cash at bank and in hand

 

231,010

141,975

 

457,497

274,461

Creditors: Amounts falling due within one year

8

(488,565)

(324,018)

Net current liabilities

 

(31,068)

(49,557)

Total assets less current liabilities

 

1,682,755

1,691,808

Creditors: Amounts falling due after more than one year

8

(681,501)

(783,280)

Provisions for liabilities

(34,792)

(34,155)

Net assets

 

966,462

874,373

Capital and reserves

 

Allotted, called up and fully paid share capital

2

2

Profit and loss account

966,460

874,371

Total equity

 

966,462

874,373

 

Rowley Healthcare Limited

(Registration number: 08002283)
Balance Sheet as at 31 March 2025 (continued)

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 June 2025 and signed on its behalf by:
 

.........................................

S J Rowley

Director

.........................................

C A Rowley

Director

 

Rowley Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The principal place of business is:
Parbold Dental Practice
8A The Common
Parbold
WIGAN
WN8 7DA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has net current liabilities at 31 March 2025 and meets its day to day working capital requirements with support through bank loan facilities. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its bankers, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.


Government grants
Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

 

Rowley Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and building

2% straight line basis

Plant and equipment

20% reducing balance basis

Improvements to property

2% straight line basis

Furniture, fittings and office equipment

25% reducing balance basis and 33% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line basis

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

 

Rowley Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

 

Rowley Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2024 - 15).

 

Rowley Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

430,767

430,767

At 31 March 2025

430,767

430,767

Amortisation

At 1 April 2024

178,167

178,167

Amortisation charge

40,175

40,175

At 31 March 2025

218,342

218,342

Carrying amount

At 31 March 2025

212,425

212,425

At 31 March 2024

252,600

252,600

 

Rowley Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5

Tangible assets

Land and building
£

Motor vehicles
 £

Plant and equipment
 £

Improvement to property
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 April 2024

385,461

50,527

120,041

68,124

76,442

700,595

Additions

-

-

50,234

9,385

1,329

60,948

At 31 March 2025

385,461

50,527

170,275

77,509

77,771

761,543

Depreciation

At 1 April 2024

37,243

1,579

58,424

1,979

62,605

161,830

Charge for the year

7,709

12,237

22,370

1,456

4,543

48,315

At 31 March 2025

44,952

13,816

80,794

3,435

67,148

210,145

Carrying amount

At 31 March 2025

340,509

36,711

89,481

74,074

10,623

551,398

At 31 March 2024

348,218

48,948

61,617

66,145

13,837

538,765

 

Rowley Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Investments

2025
£

2024
£

Investments in subsidiaries

950,000

950,000

Subsidiaries

£

Cost or valuation

At 1 April 2024

950,000

At 31 March 2025

950,000

Provision

Carrying amount

At 31 March 2025

950,000

At 31 March 2024

950,000

7

Debtors

2025
£

2024
£

Trade debtors

18,446

13,406

Other debtors

177,374

100,314

195,820

113,720

8

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

101,240

104,967

Trade creditors

 

72,233

57,077

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

109,291

49,215

Taxation and social security

 

5,688

4,391

Corporation tax liability

 

94,090

30,528

Other creditors

 

106,023

77,840

 

488,565

324,018

Due after one year

 

Loans and borrowings

9

681,501

783,280

 

Rowley Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

9

Loans and borrowings

2025
£

2024
£

Current loans and borrowings

Bank borrowings

95,326

92,066

Hire purchase and finance lease liabilities

5,914

12,171

Other borrowings

-

730

101,240

104,967

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2025
£

2024
£

Bank borrowings

95,326

92,066

Hire purchase and finance lease liabilities

5,914

12,171

101,240

104,237

Hire purchase and finance lease liabilities are secured on the assets to which they relate.

Bank borrowings are secured by fixed and floating charges over the company's assets.

 

2025
£

2024
£

Non-current loans and borrowings

Hire purchase and finance lease liabilities

32,713

38,627

Bank borrowings

648,788

744,653

681,501

783,280

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2025
£

2024
£

Hire purchase and finance lease liabilities

32,713

38,627

Bank borrowings

648,788

744,653

681,501

783,280

Hire purchase and finance lease liabilities are secured on the assets to which they relate.

Bank borrowings are secured by fixed and floating charges over the company's assets.
 

 

Rowley Healthcare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £57,311 (2024 - £73,981). The company has operating lease liabilities with periods of 43 and 39 months remaining.

The company has provided security in the form of a debenture over all assets of the company both present and future. The company's subsidiary has provided security and guarantees in respect of the balance payable to the charge holder.

11

Related party transactions

Loans from related parties

2025

Subsidiary
£

Total
£

At start of period

49,215

49,215

Advanced

80,830

80,830

Repaid

(20,754)

(20,754)

At end of period

109,291

109,291

2024

Subsidiary
£

Total
£

At start of period

47,413

47,413

Advanced

1,802

1,802

At end of period

49,215

49,215