REGISTERED NUMBER: 06586841 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

FOR

ROWAN SCRAP METALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr P A Kiernan

Mrs C J Kiernan

Mr P Kiernan

SECRETARY:

Mrs C J Kiernan

REGISTERED OFFICE:

Rowan House

8 Rough Hey

Ribbleton

Preston

Lancashire

PR2 5AR

REGISTERED NUMBER:

06586841 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Statutory Auditor

17 St Peters Place

Fleetwood

Lancashire

FY7 6EB

FIXED ASSETS

Tangible assets

4

1,056,338

1,241,851

CURRENT ASSETS

Stocks

121,261

179,009

Debtors

5

1,334,062

1,274,217

Cash at bank

1,037,707

806,340

2,493,030

2,259,566

CREDITORS

Amounts falling due within one year

6

(695,955

)

(911,476

)

NET CURRENT ASSETS

1,797,075

1,348,090

TOTAL ASSETS LESS CURRENT LIABILITIES

2,853,413

2,589,941

CREDITORS

Amounts falling due after more than one year

7

(215,679

)

(322,989

)

PROVISIONS FOR LIABILITIES

(264,086

)

(287,334

)

NET ASSETS

2,373,648

1,979,618

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

2,373,647

1,979,617

SHAREHOLDERS' FUNDS

2,373,648

1,979,618

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 1 December 2025 and were signed on its behalf by:

Mr P A Kiernan - Director

1.	STATUTORY INFORMATION

Rowan Scrap Metals 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.

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.

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition, as follows:

Raw materials, consumables and goods for resale - purchase cost on a first-in, first out basis.

Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion and disposal.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. The effective interest rate amortisation is included in finance revenue in the income statement.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 July 2024

1,711,310

40,180

584,286

2,335,776

Additions

45,623

-

85,213

130,836

Disposals

(442,449

)

-

(30,553

)

(473,002

)

At 30 June 2025

1,314,484

40,180

638,946

1,993,610

DEPRECIATION

At 1 July 2024

723,656

17,779

352,490

1,093,925

Charge for year

138,733

7,277

64,704

210,714

Eliminated on disposal

(338,821

)

-

(28,546

)

(367,367

)

At 30 June 2025

523,568

25,056

388,648

937,272

NET BOOK VALUE

At 30 June 2025

790,916

15,124

250,298

1,056,338

At 30 June 2024

987,654

22,401

231,796

1,241,851

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 July 2024

646,534

252,739

899,273

Additions

37,500

82,500

120,000

Transfer to ownership

-

(86,495

)

(86,495

)

At 30 June 2025

684,034

248,744

932,778

DEPRECIATION

At 1 July 2024

8,082

101,471

109,553

Charge for year

97,643

35,063

132,706

Transfer to ownership

-

(47,978

)

(47,978

)

At 30 June 2025

105,725

88,556

194,281

NET BOOK VALUE

At 30 June 2025

578,309

160,188

738,497

At 30 June 2024

638,452

151,268

789,720

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

160,948

80,605

Amounts owed by group undertakings

1,000,000

1,000,000

Other debtors

73

73

Tax

-

21

Prepayments

173,041

193,518

1,334,062

1,274,217

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

197,928

201,354

Trade creditors

184,303

573,838

Tax

133,692

-

Social security and other taxes

8,083

10,097

VAT

118,041

83,412

Accruals and deferred income

53,908

42,775

695,955

911,476

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

215,679

322,989

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

413,607

524,343

The hire purchase creditors are secured over the assets to which they relate.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Charles Bryning FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

10.	CONTINGENT LIABILITIES

A cross-company unlimited guarantee is in place in favour of the company's bankers between the company, Kiernan Holdings Limited and Kiernan Construction Limited. At the balance sheet date monies owing to the bank totals nil (2024 - nil)

11.	ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Kiernan Holdings Limited, a company registered at the same address.