REGISTERED NUMBER: 01485187 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

A. & I. ROWLANDS LIMITED

TRADING AS

ROWLANDS BROS

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I D Rowlands

R S Rowlands

SECRETARY:

R S Rowlands

REGISTERED OFFICE:

Dunkirk

Aylsham

Norfolk

NR11 6SU

REGISTERED NUMBER:

01485187 (England and Wales)

ACCOUNTANTS:

Quinneys

Chartered Accountants

Saxon House

Hellesdon Park Road

Norwich

Norfolk

NR6 5DR

BANKERS:

Barclays Bank Plc

Market Place

Aylsham

Norfolk

NR11 6EW

FIXED ASSETS

Tangible assets

4

710,412

794,028

CURRENT ASSETS

Stocks

311,435

325,993

Debtors

5

433,193

461,551

Cash at bank and in hand

268,327

326,668

1,012,955

1,114,212

CREDITORS

Amounts falling due within one year

6

227,659

407,507

NET CURRENT ASSETS

785,296

706,705

TOTAL ASSETS LESS CURRENT LIABILITIES

1,495,708

1,500,733

PROVISIONS FOR LIABILITIES

108,355

129,948

NET ASSETS

1,387,353

1,370,785

CAPITAL AND RESERVES

Called up share capital

66

66

Capital redemption reserve

34

34

Retained earnings

1,387,253

1,370,685

SHAREHOLDERS' FUNDS

1,387,353

1,370,785

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 14 June 2018 and were signed on its behalf by:

R S Rowlands - Director

1.	STATUTORY INFORMATION

A. & I. Rowlands 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and 2% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

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.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2017 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2017

183,366

83,630

1,666,861

Additions

-

-

12,862

At 31 March 2018

183,366

83,630

1,679,723

DEPRECIATION

At 1 April 2017

51,468

30,495

1,090,825

Charge for year

1,936

1,672

87,676

At 31 March 2018

53,404

32,167

1,178,501

NET BOOK VALUE

At 31 March 2018

129,962

51,463

501,222

At 31 March 2017

131,898

53,135

576,036

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2017

16,861

92,174

33,351

2,076,243

Additions

-

-

3,714

16,576

At 31 March 2018

16,861

92,174

37,065

2,092,819

DEPRECIATION

At 1 April 2017

12,172

64,944

32,311

1,282,215

Charge for year

704

6,808

1,396

100,192

At 31 March 2018

12,876

71,752

33,707

1,382,407

NET BOOK VALUE

At 31 March 2018

3,985

20,422

3,358

710,412

At 31 March 2017

4,689

27,230

1,040

794,028

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 April 2017

and 31 March 2018

207,470

DEPRECIATION

At 1 April 2017

and 31 March 2018

24,975

NET BOOK VALUE

At 31 March 2018

182,495

At 31 March 2017

182,495

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

415,949

443,612

Other debtors

17,244

17,939

433,193

461,551

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

-

14,000

Trade creditors

87,938

229,810

Taxation and social security

102,160

130,283

Other creditors

37,561

33,414

227,659

407,507

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

-

14,000

Hire purchase contracts are secured on the assets financed.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors at the year end are loans from the directors in the sum of £4,199 (2017: £4,853) for I

D Rowlands and £2,780 (2017: £3,350) for R S Rowlands. These loans are unsecured, interest free and

repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company are the directors, I D Rowlands and R S Rowlands.