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REGISTERED NUMBER: 05545182 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

FOR

BOWER DEVELOPMENTS LIMITED

BOWER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05545182)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BOWER DEVELOPMENTS LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2022







DIRECTORS: M Bower
Mrs K H Bower



SECRETARY: Mrs K H Bower



REGISTERED OFFICE: Crosby Orchard
Ackenthwaite
Milnthorpe
Cumbria
LA7 7DQ



REGISTERED NUMBER: 05545182 (England and Wales)



ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: National Westminster Bank Plc
5th Floor
1 Spinningfields Square
Deansgate
Manchester
M3 3AP

BOWER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05545182)

STATEMENT OF FINANCIAL POSITION
31 May 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 3,126
Investment property 5 - 502,268
- 505,394

CURRENT ASSETS
Debtors 6 - 5,504
Cash at bank and in hand 503,169 22,092
503,169 27,596
CREDITORS
Amounts falling due within one year 7 34,679 191,919
NET CURRENT ASSETS/(LIABILITIES) 468,490 (164,323 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

468,490

341,071

PROVISIONS FOR LIABILITIES 8 - 9,509
NET ASSETS 468,490 331,562

CAPITAL AND RESERVES
Called up share capital 9 10,001 10,001
Share premium 10 129,624 129,624
Other reserves 10 - 149,003
Retained earnings 10 328,865 42,934
SHAREHOLDERS' FUNDS 468,490 331,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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.

BOWER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05545182)

STATEMENT OF FINANCIAL POSITION - continued
31 May 2022


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 8 September 2022 and were signed on its behalf by:





M Bower - Director


BOWER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05545182)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2022

1. STATUTORY INFORMATION

Bower Developments 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 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rentals receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are recorded at cost less depreciation and impairment.

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.


BOWER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05545182)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2022

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2021 13,425
Disposals (13,425 )
At 31 May 2022 -
DEPRECIATION
At 1 June 2021 10,299
Charge for year 711
Eliminated on disposal (11,010 )
At 31 May 2022 -
NET BOOK VALUE
At 31 May 2022 -
At 31 May 2021 3,126

BOWER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05545182)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2022

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2021 502,268
Disposals (502,268 )
At 31 May 2022 -
NET BOOK VALUE
At 31 May 2022 -
At 31 May 2021 502,268

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors - 5,504

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 169 5,997
Taxation and social security 32,958 6,650
Other creditors 1,552 179,272
34,679 191,919



8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax - 9,509

Deferred
tax
£   
Balance at 1 June 2021 9,509
Credit to Income Statement during year (9,509 )
Balance at 31 May 2022 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
9,001 Ordinary A Shares £1 9,001 9,001
1,000 Ordinary C Shares £1 1,000 1,000
10,001 10,001

BOWER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05545182)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2022

9. CALLED UP SHARE CAPITAL - continued

The 'A' and 'C' shares carry equal rights to vote but have varying entitlement to dividends.

10. RESERVES
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1 June 2021 42,934 129,624 149,003 321,561
Profit for the year 288,636 - - 288,636
Dividends (4,445 ) - - (4,445 )
Released on sale of property - - (147,263 ) (147,263 )
Reserves transfer 1,740 - (1,740 ) -
At 31 May 2022 328,865 129,624 - 458,489

Other reserves relate to non distributable profit and loss relating to the revaluation amount of investment properties.

Share premium relates to the difference between the par value of shares issued and the issue price.

11. RELATED PARTY DISCLOSURES

Included in Other creditors is an amount of £Nil (2021: £176,517) due to directors. Interest amounting to £11,244 (2021: £13,947) has been charged.