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REGISTERED NUMBER: 00486782 (England and Wales)

































Unaudited Financial Statements

For The Year Ended

31 March 2023

for

T W BOWLER LTD

T W BOWLER LTD (REGISTERED NUMBER: 00486782)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T W BOWLER LTD

Company Information
For The Year Ended 31 March 2023







DIRECTORS: Mr N J T Bowler
Mr J Bowler
Mrs L J Bowler





SECRETARY: Mrs L J Bowler





REGISTERED OFFICE: Shady Oak Farm
Marple Road
Offerton
Stockport
Cheshire
SK2 5HE





REGISTERED NUMBER: 00486782 (England and Wales)





ACCOUNTANTS: Leavitt Walmsley Associates Limited
Chartered Certified Accountants
8 Eastway
Sale
Cheshire
M33 4DX

T W BOWLER LTD (REGISTERED NUMBER: 00486782)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,361,879 1,388,987

CURRENT ASSETS
Stocks 5 91,508 97,330
Debtors 6 647,116 569,382
Cash at bank and in hand 3,023 47,544
741,647 714,256
CREDITORS
Amounts falling due within one year 7 1,073,991 983,688
NET CURRENT LIABILITIES (332,344 ) (269,432 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,029,535

1,119,555

CREDITORS
Amounts falling due after more than one year 8 (700,738 ) (763,444 )

PROVISIONS FOR LIABILITIES (237,537 ) (235,705 )
NET ASSETS 91,260 120,406

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 90,760 119,906
SHAREHOLDERS' FUNDS 91,260 120,406

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

T W BOWLER LTD (REGISTERED NUMBER: 00486782)

Balance Sheet - continued
31 March 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





Mrs L J Bowler - Director


T W BOWLER LTD (REGISTERED NUMBER: 00486782)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

T W Bowler 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including 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.

The company's policy of revenue recognition is to recognise a sale when the contractual obligations to the customer have been fulfilled. For contracts where obligations to the customer have not been fulfilled, but have been invoiced the sale is recognised within deferred income in current liabilities until such time a right to consideration arises.

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.
Plant and machinery - 25% on cost, 20% on cost and 20% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is capable of operating in the manner intended by management.

Profits and losses on the disposal of fixed assets are included in the calculation of profit for the year.

The directors assess the company's tangible assets for evidence of impairment at each reporting date. Where there are indicators of impairment, the directors calculate recoverable amount of the asset(s) and compare this with the carrying amount. If recoverable amount is lower than carrying amount, the asset is written down to recoverable amount by way of an impairment loss which is recognised in profit or loss for the year. Impairment losses are reversed when there is evidence that the reasons giving rise to the original impairment loss have ceased to apply. Impairment losses are reversed through profit and loss, but only to the extent that the reversal does not increase the carrying amount of the asset to the amount which would have been stated, net of depreciation, had no impairment loss been recognised.

Stocks
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell, 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.

Estimated selling price is the price which would be obtained by selling the product in the open market in an arm's length transaction.

Provision is made by way of write down to estimated selling price and cost to complete and sell for obsolete and slow moving items.

T W BOWLER LTD (REGISTERED NUMBER: 00486782)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit or loss. All other investments are subsequently measured at cost less impairment.

Debtors and creditors which fall due within one year are recorded in the financial statements at transaction price and subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded in profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt.

Debtors do not carry interest and are stated at their nominal value.

Trade creditors are not interest-bearing and are stated at their nominal value.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

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 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. Deferred tax is calculated using timing difference plus approach.

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
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 the profit and loss account using the effective interest method under Section 11 of FRS 102 ‘Basic Financial Instruments’. The capital element of the liability is presented in the balance sheet as a liability and split between the portion falling due within one year and the portion falling due after more than one year.

T W BOWLER LTD (REGISTERED NUMBER: 00486782)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year with an associated expense in profit or loss.

Government grants
Government grants are recognised when the entity expects to receive the grant and will comply with the grants conditions and are accounted for using the accrual model .Grants in respect of Covid-19 are recognised in income in the period the grant relates to.

Grants which become repayable are recognised as a liability in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 1,548,882 5,425 1,418,510 21,059 2,993,876
Additions 269,000 6,855 101,579 2,899 380,333
At 31 March 2023 1,817,882 12,280 1,520,089 23,958 3,374,209
DEPRECIATION
At 1 April 2022 919,398 2,140 676,869 6,482 1,604,889
Charge for year 197,678 1,571 200,711 7,481 407,441
At 31 March 2023 1,117,076 3,711 877,580 13,963 2,012,330
NET BOOK VALUE
At 31 March 2023 700,806 8,569 642,509 9,995 1,361,879
At 31 March 2022 629,484 3,285 741,641 14,577 1,388,987

T W BOWLER LTD (REGISTERED NUMBER: 00486782)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 1,223,958 1,031,641 2,255,599
Additions 256,000 - 256,000
At 31 March 2023 1,479,958 1,031,641 2,511,599
DEPRECIATION
At 1 April 2022 726,307 402,724 1,129,031
Charge for year 169,440 157,229 326,669
At 31 March 2023 895,747 559,953 1,455,700
NET BOOK VALUE
At 31 March 2023 584,211 471,688 1,055,899
At 31 March 2022 497,651 628,917 1,126,568

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 91,508 97,330

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 606,579 527,988
Other debtors 11,135 5,291
Prepayments 29,402 36,103
647,116 569,382

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 60,972 32,926
Hire purchase contracts (see note 9) 282,050 331,826
Trade creditors 293,898 314,870
Social security and other taxes 22,858 20,061
Wages - 12,834
Pension 1,603 808
VAT 88,467 14,473
Other creditors 16,986 12,803
Directors' current accounts 300,062 235,402
Accrued expenses 7,095 7,685
1,073,991 983,688

T W BOWLER LTD (REGISTERED NUMBER: 00486782)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 118,194 181,314
Hire purchase contracts (see note 9) 582,544 582,130
700,738 763,444

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.23 31.3.22
£    £   
Net obligations repayable:
Within one year 282,050 331,826
Between one and five years 582,544 582,130
864,594 913,956

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank overdraft 22,690 -
Hire purchase contracts 864,594 913,956
887,284 913,956

The overdraft is secured by way of fixed and floating charges over all the property of the company. The charge dated 13 March 2023 is in favour of The Royal Bank of Scotland PLC.

Assets obtained under hire purchase and finance leases are secured over the assets to which they relate.