The Rowleys Partnership Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06125028 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2018

for

The Rowleys Partnership Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A H Jarvis

Mr R J Radford

Mr C E Shevas

Mrs P T Swann-Jones

Mr M O Hook

Mr M H Freeman

Mr G Rawlings

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

93,283

155,803

Tangible assets

5

71,665

86,624

164,948

242,427

CURRENT ASSETS

Debtors

6

729,534

646,700

Cash at bank

-

42,166

729,534

688,866

CREDITORS

Amounts falling due within one year

7

479,976

576,102

NET CURRENT ASSETS

249,558

112,764

TOTAL ASSETS LESS CURRENT LIABILITIES

414,506

355,191

PROVISIONS FOR LIABILITIES

9,252

12,945

NET ASSETS

405,254

342,246

CAPITAL AND RESERVES

Called up share capital

300,000

300,000

Retained earnings

105,254

42,246

SHAREHOLDERS' FUNDS

405,254

342,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 16 August 2018 and were signed on its behalf by:

Mr A H Jarvis - Director

Mr R J Radford - 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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

Property, plant and equipment acquired under finance or hire purchase contracts are capitalised

and depreciated in the same manner as other tangible fixed assets. The related obligations, net of

future finance charges are included in creditors.

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 48 (2017 - 39 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST OR VALUATION

At 1 April 2017

and 31 March 2018

971,487

AMORTISATION

At 1 April 2017

815,684

Charge for year

62,520

At 31 March 2018

878,204

NET BOOK VALUE

At 31 March 2018

93,283

At 31 March 2017

155,803

Cost or valuation at 31 March 2018 is represented by:

Goodwill

£

Valuation in 2017

(22,920

)

Cost

994,407

971,487

The valuation of goodwill was dependent on the actual turnover achieved. The adjustment reflects

the reduction in the deferred consideration.

5.	TANGIBLE FIXED ASSETS

Short

Fixtures

leasehold

and

Motor

Computer

improvements

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2017

38,388

64,950

14,081

183,226

300,645

Additions

3,857

5,739

-

16,108

25,704

Disposals

-

(1,651

)

-

-

(1,651

)

At 31 March 2018

42,245

69,038

14,081

199,334

324,698

DEPRECIATION

At 1 April 2017

10,516

39,596

8,141

155,768

214,021

Charge for year

2,610

13,502

1,485

22,966

40,563

Eliminated on disposal

-

(1,551

)

-

-

(1,551

)

At 31 March 2018

13,126

51,547

9,626

178,734

253,033

NET BOOK VALUE

At 31 March 2018

29,119

17,491

4,455

20,600

71,665

At 31 March 2017

27,872

25,354

5,940

27,458

86,624

Included within net book value of tangible fixed assets is £4,455 (2017 £5,940) relating to assets

held under hire purchase. The depreciation charged to the accounts in the year in respect of such

assets amounted to £1,485 (2017 £1,980).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

325,120

297,528

Other trade debtors

278,603

219,152

Prepayments and accrued income

125,811

130,020

729,534

646,700

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

3,457

-

Hire purchase contracts

-

2,975

Trade creditors

109,414

121,376

Corporation tax

138,416

128,594

Social security and other taxes

23,066

24,350

VAT

121,541

104,713

Deferred goodwill

-

123,093

Directors' current accounts

245

329

Accruals and deferred income

83,837

70,672

479,976

576,102

8.	OTHER FINANCIAL COMMITMENTS

The company has total commitments at the balance sheet date of £546,947 (2017 £615,428).

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by its parent company, Rowleys Group LLP, which owns 100% of the

issued share capital of the company.