Rowan (216) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05970945 (England and Wales)

Unaudited Financial Statements

For The Period 1 February 2018 to 31 October 2018

for

Rowan (216) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D.J.W. Walker

Mrs D F E Walker

REGISTERED OFFICE:

Prospect House

New Dixton Road

Monmouth

Monmouthshire

NP25 3PR

REGISTERED NUMBER:

05970945 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

FIXED ASSETS

Investments

3

1,450,000

23,180

Investment property

4

1,174,000

1,060,000

2,624,000

1,083,180

CURRENT ASSETS

Debtors

5

-

8,701

Cash at bank

3,773,333

53,084

3,773,333

61,785

CREDITORS

Amounts falling due within one year

6

22,273

77,415

NET CURRENT ASSETS/(LIABILITIES)

3,751,060

(15,630

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,375,060

1,067,550

CAPITAL AND RESERVES

Called up share capital

7

8,865

8,865

Revaluation reserve

8

71,500

-

Capital redemption reserve

14,315

14,315

Retained earnings

6,280,380

1,044,370

SHAREHOLDERS' FUNDS

6,375,060

1,067,550

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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 9 November 2018 and were signed on its behalf by:

D.J.W. Walker - Director

1.	STATUTORY INFORMATION

Rowan (216) 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 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.

The company ceased trading on 31 October 2018, and accordingly the financial statements have not been

prepared on a going concern basis. In the opinion of the directors, all assets have been stated at their

recoverable amounts, and there are no liabilities arising from the cessation of trade that have not been provided

within these financial statements.

The financial statements are prepared in sterling, which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

The Company recognises revenue on an accruals basis, when the amount of revenue can be reliably measured

and it is probable that future economic benefits will flow to the Company.

Rental income, including fixed rental uplifts, is recognised in the income statement on a straight-line basis over

the term of the lease. Lease incentives being offered to occupiers to enter into a lease, such as an initial

rent-free period or a cash contribution to fit-out or similar costs, are an integral part of the net consideration for

the use of the property and are therefore recognised on the same straight-line basis. Contingent rents, being

lease payments that are not fixed at the inception of a lease, for example turnover rents, are recorded as income

in the periods in which they are earned.

Service charge income and management fees are recorded as income in the period in which they are earned.

Investments in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and

subsequently measured at cost less any accumulated impairment losses. The investments are assessed

for impairment at each reporting date and any impairment losses or reversals of impairment losses are

recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and

operating policies of the entity so as to obtain benefits from its activities.

Investment property

Investment properties are properties, either owned or leased by the Company, that are held either to earn rental

income or for capital appreciation, or both. Investment properties are measured initially at cost including related

transaction costs, and subsequently at fair value. Fair value is based on market value, as determined by a

professional independent valuer at each reporting date. The difference between the fair value of an investment

property at the reporting date and its carrying amount prior to re-measurement is included in the income

statement as a valuation surplus or deficit. Investment properties are presented on the balance sheet within

non-current assets.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and

Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the

company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements,

when there is a legally enforceable right to set off the recognised amounts and there is an intention to

settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are

initially measured at transaction price including transaction costs and are subsequently carried at

amortised cost using the effective interest method unless the arrangement constitutes a financing

transaction, where the transaction is measured at the present value of the future receipts discounted at

a market rate of interest.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset

expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership

to another entity.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group

companies and preference shares that are classified as debt, are initially recognised at transaction price

unless the arrangement constitutes a financing transaction, where the debt instrument is measured at

the present value of the future payments discounted at a market rate of interest. Debt instruments are

subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary

course of business from suppliers. Accounts payable are classified as current liabilities if payment is

due within one year or less. If not, they are presented as non-current liabilities. Trade payables are

recognised initially at transaction price and subsequently measured at amortised cost using the effective

interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial

instruments. Derivatives are initially recognised at fair value on .the date a derivative contract is

entered into and are subsequently re-measured at their fair value. Changes in the fair value of

derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless

they are included in a hedging arrangement.

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged,

cancelled, or they expire.

Taxation

Taxation for the period 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 period 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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term

liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts

are shown within borrowings in current liabilities.

3.	FIXED ASSET INVESTMENTS

31.10.18

31.1.18

£

£

Shares in group undertakings

-

23,180

Other loans

1,450,000

-

1,450,000

23,180

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 February 2018

23,180

Disposals

(23,180

)

At 31 October 2018

-

NET BOOK VALUE

At 31 October 2018

-

At 31 January 2018

23,180

Other

loans

£

New in year

1,450,000

At 31 October 2018

1,450,000

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2018

1,060,000

Additions

42,500

Revaluations

71,500

At 31 October 2018

1,174,000

NET BOOK VALUE

At 31 October 2018

1,174,000

At 31 January 2018

1,060,000

Fair value at 31 October 2018 is represented by:

£

Valuation in 2018

1,174,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.1.18

£

£

Trade debtors

-

3,701

Other debtors

-

5,000

-

8,701

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.1.18

£

£

Taxation and social security

19,273

3,643

Other creditors

3,000

73,772

22,273

77,415

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.18

31.1.18

value:

£

£

8,865

Ordinary

£1

8,865

8,865

8.

RESERVES

Revaluation

reserve

£

Revaluation of investment

property

71,500

At 31 October 2018

71,500

9.	POST BALANCE SHEET EVENTS

The company ceased trading on 31 October 2018, and the shareholder has appointed a liquidator to voluntarily

wind up the company.