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REGISTERED NUMBER: 04820673 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

C F BOWLES MARINE ENGINEERS LTD

C F BOWLES MARINE ENGINEERS LTD (REGISTERED NUMBER: 04820673)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C F BOWLES MARINE ENGINEERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Mr S French



REGISTERED OFFICE: Overgang Road
Brixham
United Kingdom
Devon
TQ5 8AR



REGISTERED NUMBER: 04820673 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Lloyds Bank
Paignton Branch
2 Palace Avenue
Paignton
Devon
TQ3 3ER

C F BOWLES MARINE ENGINEERS LTD (REGISTERED NUMBER: 04820673)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 4,500
Tangible assets 5 9,548 11,892
9,548 16,392

CURRENT ASSETS
Stocks 6 4,600 5,466
Debtors 7 32,562 26,687
Cash at bank 2,437 19,411
39,599 51,564
CREDITORS
Amounts falling due within one year 8 37,506 33,164
NET CURRENT ASSETS 2,093 18,400
TOTAL ASSETS LESS CURRENT LIABILITIES 11,641 34,792

CREDITORS
Amounts falling due after more than one
year

9

(6,750

)

(9,426

)

PROVISIONS FOR LIABILITIES (1,814 ) (2,277 )
NET ASSETS 3,077 23,089

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 2,975 22,987
SHAREHOLDERS' FUNDS 3,077 23,089

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

C F BOWLES MARINE ENGINEERS LTD (REGISTERED NUMBER: 04820673)

BALANCE SHEET - continued
31 JULY 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2023 and were signed by:





Mr S French - Director


C F BOWLES MARINE ENGINEERS LTD (REGISTERED NUMBER: 04820673)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

C F Bowles Marine Engineers Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

C F BOWLES MARINE ENGINEERS LTD (REGISTERED NUMBER: 04820673)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 90,000
AMORTISATION
At 1 August 2022 85,500
Charge for year 4,500
At 31 July 2023 90,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 4,500

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 August 2022 29,946 1,887 31,833
Additions 233 - 233
At 31 July 2023 30,179 1,887 32,066
DEPRECIATION
At 1 August 2022 18,374 1,567 19,941
Charge for year 2,361 216 2,577
At 31 July 2023 20,735 1,783 22,518
NET BOOK VALUE
At 31 July 2023 9,444 104 9,548
At 31 July 2022 11,572 320 11,892

6. STOCKS
2023 2022
£    £   
Stocks 4,600 5,466

C F BOWLES MARINE ENGINEERS LTD (REGISTERED NUMBER: 04820673)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,965 20,884
VAT 4,330 5,561
Prepayments 267 242
32,562 26,687

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,000 3,324
Trade creditors 13,885 8,694
Tax 6,027 11,853
Social security and other taxes 87 87
Directors' current accounts 12,535 7,312
Accrued expenses 1,972 1,894
37,506 33,164

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 6,750 9,426

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Mr S French
Balance outstanding at start of year (7,312 ) (10,414 )
Amounts advanced 45,903 56,274
Amounts repaid (51,126 ) (53,172 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,535 ) (7,312 )

Loans are unsecured, interest free and repayable on demand.

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £38,000 were paid to the director .

12. GOVERNMENT GUARANTEED LOAN

The bank loan of £9,750 (2022: £12,750) is a COVID-19 Bounce Back Loan, guaranteed by the government. Term runs to October 2026.