The Rowleys Partnership Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06125028 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2021

for

The Rowleys Partnership Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R J Radford

Mr C E Shevas

Mrs P T Swann-Jones

Mr M O Hook

Mr M H Freeman

Mr T A Copson

SECRETARY:

Mr R J Radford

REGISTERED OFFICE:

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

REGISTERED NUMBER:

06125028 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

87,640

109,385

87,640

109,385

CURRENT ASSETS

Debtors

6

811,257

895,997

Cash at bank

575,480

83,406

1,386,737

979,403

CREDITORS

Amounts falling due within one year

7

667,892

601,840

NET CURRENT ASSETS

718,845

377,563

TOTAL ASSETS LESS CURRENT LIABILITIES

806,485

486,948

CREDITORS

Amounts falling due after more than one year

8

(220,833

)

-

PROVISIONS FOR LIABILITIES

(14,083

)

(17,868

)

NET ASSETS

571,569

469,080

CAPITAL AND RESERVES

Called up share capital

300,000

300,000

Retained earnings

271,569

169,080

SHAREHOLDERS' FUNDS

571,569

469,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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.

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 13 October 2021 and were signed on its behalf by:

Mr R J Radford - Director

Mr C E Shevas - Director

1.	STATUTORY INFORMATION

The Rowleys Partnership Ltd 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 net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Intangible assets

Goodwill, being the amount paid in connection with the acquisitions of businesses, is being amortised evenly over periods of between 8 and 13 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold improvements

-

Straight line over 15 years

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Government grants

Government grants receivable in relation to the job retention scheme are recognised as income over the periods necessary to match them against the related costs which they are intended to compensate, on a systematic basis. Other Government grants received are recognised at the point of receipt. Government grants are shown separately as other income.

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.

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.

Grant income

Capital grants are written off over the expected life of the relevant assets.

Lease incentives

The benefits of lease incentives are recognised in the profit and loss account over the period of the lease.

Leasing commitments

Rent payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2020 - 47 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

971,487

AMORTISATION

At 1 April 2020

and 31 March 2021

971,487

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Short

Fixtures

leasehold

and

Computer

improvements

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2020

49,310

72,506

281,565

403,381

Additions

-

4,340

15,359

19,699

At 31 March 2021

49,310

76,846

296,924

423,080

DEPRECIATION

At 1 April 2020

18,765

66,226

209,005

293,996

Charge for year

3,294

3,174

34,976

41,444

At 31 March 2021

22,059

69,400

243,981

335,440

NET BOOK VALUE

At 31 March 2021

27,251

7,446

52,943

87,640

At 31 March 2020

30,545

6,280

72,560

109,385

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

433,625

427,411

Other debtors

377,632

468,586

811,257

895,997

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

29,167

-

Trade creditors

60,256

184,576

Amounts owed to group undertakings

-

20,000

Taxation and social security

459,385

306,050

Other creditors

119,084

91,214

667,892

601,840

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

220,833

-

31.3.21

31.3.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

220,833

-

Included in bank loans is another form of government assistance from which the entity has benefited. This is a Coronavirus Business Interruption Loan for £250,000, for a period of 6 years from 3 July 2020. The loan is partially guaranteed by the UK Government under the CBILS Guarantee, but the company is still liable for the full amount of any outstanding loan amount. The first 12 months are repayment free and the UK Government, Business Interruption Payment (BIP) will cover the interest cost in the first 12 months of £10,225. Thereafter, the interest rate applied will be at a market rate of 3.99% over the Bank of England Base Rate.

The company repaid the loan in full on 30 July 2021.

9.	OTHER FINANCIAL COMMITMENTS

The company has total commitments at the balance sheet date of £371,690 (2020 £417,577).

10.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking and controlling party is Rowleys Group LLP. The registered office of Rowleys Group LLP is Charnwood House, Harcourt Way, Meridian Business Park, Leicester, LE19 1WP.