The Rowleys Partnership Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06125028 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2023

for

The Rowleys Partnership Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C E Shevas

Mrs P T Swann-Jones

Mr M O Hook

Mr M H Freeman

Mr T A Copson

REGISTERED OFFICE:

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

REGISTERED NUMBER:

06125028 (England and Wales)

FIXED ASSETS

Tangible assets

4

93,659

101,933

CURRENT ASSETS

Debtors

5

1,059,549

933,870

Cash at bank

27,286

149,036

1,086,835

1,082,906

CREDITORS

Amounts falling due within one year

6

622,502

602,023

NET CURRENT ASSETS

464,333

480,883

TOTAL ASSETS LESS CURRENT LIABILITIES

557,992

582,816

PROVISIONS FOR LIABILITIES

20,451

17,144

NET ASSETS

537,541

565,672

CAPITAL AND RESERVES

Called up share capital

7

300,000

300,000

Retained earnings

237,541

265,672

SHAREHOLDERS' FUNDS

537,541

565,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 22 June 2023 and were signed on its behalf by:

Mr C E Shevas - Director

Mr T A Copson - 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 is recognised at the fair value of the consideration received or receivable, for goods and services provided, excluding discounts, rebates, value added tax and other sales related taxes.

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102, to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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.

Lease commitments and incentives

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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 63 (2022 - 54 ) .

4.	TANGIBLE FIXED ASSETS

Short

Fixtures

leasehold

and

Computer

improvements

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2022

89,288

79,008

308,919

477,215

Additions

-

8,968

24,622

33,590

Disposals

-

(6,433

)

(48,331

)

(54,764

)

At 31 March 2023

89,288

81,543

285,210

456,041

DEPRECIATION

At 1 April 2022

27,606

72,255

275,421

375,282

Charge for year

5,953

3,269

32,005

41,227

Eliminated on disposal

-

(5,977

)

(48,150

)

(54,127

)

At 31 March 2023

33,559

69,547

259,276

362,382

NET BOOK VALUE

At 31 March 2023

55,729

11,996

25,934

93,659

At 31 March 2022

61,682

6,753

33,498

101,933

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

567,570

432,574

Other debtors

491,979

501,296

1,059,549

933,870

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

135,420

46,162

Amounts owed to group undertakings

15,000

75,000

Taxation and social security

357,116

357,467

Other creditors

114,966

123,394

622,502

602,023

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

300,000

Ordinary shares

£1

300,000

300,000

8.	OTHER FINANCIAL COMMITMENTS

The company has total commitments at the balance sheet date of £306,900 (2022 £371,690).

9.	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.