ROWALK_HOLDINGS_LIMITED - Accounts

ROWALK HOLDINGS LIMITED - Company Information

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Company Registration No. 07249151 (England and Wales)

ROWALK HOLDINGS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

ROWALK HOLDINGS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ROWALK HOLDINGS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

25,920

5,222

Investments

25,921

5,223

Current assets

Stocks

178,799

94,087

Debtors

58,975

56,670

Cash at bank and in hand

49,051

26,188

286,825

176,945

312,746

182,168

Capital and reserves

Called up share capital

100

Profit and loss account

(22,829)

(80,341)

Shareholders funds

(22,729)

(80,241)

Creditors: amounts falling due within one year

335,475

262,409

312,746

182,168

For the financial year ended 31 March 2016 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 financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 October 2016

A Landesberg

Director

Company Registration No. 07249151

ROWALK HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The accounts have been prepared on a going concern basis despite net liabilities of £22,729 (2015: £80,241) as the shareholders and directors have confirmed their continuing financial support.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods net of VAT.

Turnover is recognised on the delivery of goods to the customer.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold improvements

Straight line over term of the lease

Plant and machinery

25% straight line

Computer equipment

25% straight line

Fixtures, fittings & equipment

25% straight line

1.5

Investments

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

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

Stock includes freight and carriage charges and goods in transit that it has paid for and the company has title to.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

ROWALK HOLDINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 April 2015

12,568

12,569

Additions

26,264

At 31 March 2016

38,832

38,833

Depreciation

At 1 April 2015

7,346

Charge for the year

5,566

At 31 March 2016

12,912

Net book value

At 31 March 2016

25,920

25,921

At 31 March 2015

5,222

5,223

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

The Reading Glasses Company Limited

England and Wales

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

The Reading Glasses Company Limited

Dormant

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100