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REGISTERED NUMBER: 08610517 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2022

FOR

THE BOWERS PARTNERSHIP LIMITED

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Balance Sheet 1

Notes to the Financial Statements 3


THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

BALANCE SHEET
31 MARCH 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 10,533 12,845
Investments 6 224,565 116,186
235,098 129,031

CURRENT ASSETS
Debtors 7 658,770 678,113
Cash at bank 880,974 1,187,888
1,539,744 1,866,001
CREDITORS
Amounts falling due within one year 8 253,746 581,173
NET CURRENT ASSETS 1,285,998 1,284,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,521,096

1,413,859

PROVISIONS FOR LIABILITIES 10 6,405 5,515
NET ASSETS 1,514,691 1,408,344

CAPITAL AND RESERVES
Called up share capital 11 2 2
Non-distributable reserve 12 18,775 13,111
Retained earnings 1,495,914 1,395,231
SHAREHOLDERS' FUNDS 1,514,691 1,408,344

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

BALANCE SHEET - continued
31 MARCH 2022


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

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

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2022 and were signed on its behalf by:





Mrs N Bowers - Director


THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

The Bowers Partnership Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08610517

Registered office: Pharmacy Chambers
High Street
Wadhurst
East Sussex
TN5 6AP

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about The Bowers Partnership Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Equipment - 25% on cost and 20% on cost

All fixed assets are initially recorded at cost.

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


3. ACCOUNTING POLICIES - continued

Financial instruments
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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


3. ACCOUNTING POLICIES - continued

Going concern
The company has prepared these accounts on a going concern basis, however there are material uncertainties in respect of COVID-19 and management have taken into consideration the existing and potential effects of coronavirus on the activities of the business in future.

Leases
Rentals payable under operating lease, including any lease incentives received, and charged to profit or loss on a straight line basis over the term of the revenant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases assets are consumed.

Equity instruments
Changes in the fair value of derivatives that are designate and qualify as fair value hedges are recognised in profit and loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 4 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings Equipment Totals
£    £    £   
COST
At 1 April 2021 6,686 44,706 51,392
Additions 2,634 - 2,634
At 31 March 2022 9,320 44,706 54,026
DEPRECIATION
At 1 April 2021 3,426 35,121 38,547
Charge for year 1,200 3,746 4,946
At 31 March 2022 4,626 38,867 43,493
NET BOOK VALUE
At 31 March 2022 4,694 5,839 10,533
At 31 March 2021 3,260 9,585 12,845

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 April 2021 116,186
Additions 101,385
Revaluations 6,994
At 31 March 2022 224,565
NET BOOK VALUE
At 31 March 2022 224,565
At 31 March 2021 116,186

Cost or valuation at 31 March 2022 is represented by:

Listed
investments
£   
Valuation in 2022 6,994
Valuation in 2021 19,587
Valuation in 2020 (3,401 )
Cost 201,385
224,565

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 78,849 18,865
Amounts owed by group undertakings 381,481 380,905
Other debtors - 4,676
Directors' current accounts 38,849 17,709
Prepayments and accrued income 159,591 255,958
658,770 678,113

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Debentures - 245,000
Trade creditors 44,952 40,118
Amounts owed to group undertakings 11,527 11,862
Corporation tax 64,264 64,035
PAYE and social security 3,736 1,887
VAT 14,567 38,667
Wages control account - 1,254
Accruals and deferred income 114,700 178,350
253,746 581,173

9. SECURED DEBTS

Santander UK Plc created a charge on 27 May 2020 in relation to security over cash deposits. This charge was released on 07 April 2021.

10. PROVISIONS FOR LIABILITIES
31.3.22 31.3.21
£    £   
Deferred tax
Accelerated capital allowances 2,001 2,440
Other timing differences 4,404 3,075
6,405 5,515

Deferred
tax
£   
Balance at 1 April 2021 5,515
Charge to Profit and loss account during year 890
Balance at 31 March 2022 6,405

11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
2 Ordinary £1 2 2

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


12. RESERVES
Non-distributable
reserve
£   
At 1 April 2021 13,111
Fair value adjustment 5,664

At 31 March 2022 18,775

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22 31.3.21
£    £   
Mr L S Bowers and Mrs N Bowers
Balance outstanding at start of year 17,709 24,553
Amounts advanced 23,466 115,470
Amounts repaid (2,326 ) (122,314 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,849 17,709

During the year, interest of £735 (2021: £470) was charged on overdrawn directors current account, interest was charged at the official rate of 2% (2021: 2.25%).

14. RELATED PARTY DISCLOSURES

Included in other debtors is a loan balance of £381,481 (2021: £380,905) due from Lionfoxco Limited, a member of the group. The amount is interest free and on demand.

Included in other creditors is a loan balance of £11,527 (2021: £11,862) due to The Bowers Investment Limited, the parent company. The amount is interest free and repayable on demand.

The company paid £174,860 (2021: £177,000) dividends to the parent company during the year.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Bowers Investment Company Limited.

16. PARENT COMPANY

The company is a wholly owned subsidiary of The Bowers Investment Company Ltd whose address is Pharmacy Chambers, High Street, Wadhurst, East Sussex, TN5 6AP.