Registered number
04458290
Philip Bowdidge Accountancy Limited
Filleted Accounts
31 July 2023
Philip Bowdidge Accountancy Limited
Registered number: 04458290
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 28,925 35,096
Current assets
Debtors 4 67,142 30,204
Cash at bank and in hand 67,567 110,397
134,709 140,601
Creditors: amounts falling due within one year 5 (45,106) (28,510)
Net current assets 89,603 112,091
Net assets 118,528 147,187
Capital and reserves
Called up share capital 100 100
Profit and loss account 118,428 147,087
Shareholders' funds 118,528 147,187
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Bowdidge
Director
Approved by the board on 3 October 2023
Philip Bowdidge Accountancy Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 31,691 13,772 28,360 73,823
Additions - 590 - 590
At 31 July 2023 31,691 14,362 28,360 74,413
Depreciation
At 1 August 2022 3,097 12,942 22,688 38,727
Charge for the year 634 455 5,672 6,761
At 31 July 2023 3,731 13,397 28,360 45,488
Net book value
At 31 July 2023 27,960 965 - 28,925
At 31 July 2022 28,594 830 5,672 35,096
4 Debtors 2023 2022
£ £
Trade debtors 8,196 6,696
Other debtors 58,946 23,508
67,142 30,204
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 13,745 884
Taxation and social security costs 31,361 27,627
Other creditors - (1)
45,106 28,510
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
P Bowdidge
Loan - 19,000 - 19,000
Y Bowdidge
Loan - 19,000 - 19,000
- 38,000 - 38,000
7 Controlling party
The company is controlled by P Bowdidge and Y Bowdidge.
8 Other information
Philip Bowdidge Accountancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Ringwood Road
Walkford
Christchurch
Dorset
BH23 5RD
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