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REGISTERED NUMBER: 03571925 (England and Wales)



















BOW DISTRIBUTION AND WAREHOUSING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






BOW DISTRIBUTION AND WAREHOUSING LIMITED (REGISTERED NUMBER: 03571925)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 7


BOW DISTRIBUTION AND WAREHOUSING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr G Burgess
Mr J R Foskett
Mr P A Howarth





REGISTERED OFFICE: 81 Burton Road
Derby
Derbyshire
DE1 1TJ





BUSINESS ADDRESS: Units 23.3-23.5
Amber Business Centre
Riddings
Alfreton
Derbyshire
DE55 4BR





REGISTERED NUMBER: 03571925 (England and Wales)





AUDITORS: Johnson Tidsall Limited
Chartered Accountants
& Statutory Auditor
81 Burton Road
Derby
Derbyshire
DE1 1TJ

BOW DISTRIBUTION AND WAREHOUSING LIMITED (REGISTERED NUMBER: 03571925)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,532,713 1,085,613

CURRENT ASSETS
Debtors 5 1,327,023 1,238,755
Cash at bank and in hand 335,450 684,712
1,662,473 1,923,467
CREDITORS
Amounts falling due within one year 6 1,474,357 1,514,279
NET CURRENT ASSETS 188,116 409,188
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,720,829

1,494,801

CREDITORS
Amounts falling due after more than one
year

7

(748,633

)

(501,735

)

PROVISIONS FOR LIABILITIES 10 (372,336 ) (255,294 )
NET ASSETS 599,860 737,772

CAPITAL AND RESERVES
Called up share capital 11 3,494 3,494
Capital redemption reserve 2,401 2,401
Retained earnings 593,965 731,877
SHAREHOLDERS' FUNDS 599,860 737,772

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 Comprehensive Income 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:





Mr G Burgess - Director


BOW DISTRIBUTION AND WAREHOUSING LIMITED (REGISTERED NUMBER: 03571925)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Bow Distribution and Warehousing 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.

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


The comparative period is a nine month period to 30 June 2022. Therefore, the figures are not entirely comparable. The financial year was changed to 30 June 2022 to be consistent with the other group members.

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.

Significant judgements and estimates
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements:

Depreciation - £238,124 (2022: £162,237) the useful economic lives of fixed assets can vary. Management review the policies and determine their appropriateness based on historic experience and the current expectations of useful life.

Residual values - £538,900 (2022: £477,100). Management review the amount that the company would obtain from disposal of the assets, if the asset were already of the age and in the condition expected at the estimated disposal date.

Deferred Tax - £372,336 (2022: £255,294) Deferred tax is measured using tax rates that have been enacted by the year-end. Timing differences expected to reverse after 30 June 2023 have been measured at 25%.

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 in respect of warehouse income is recognised on a daily rate when the storage is provided or when movement has been performed.

Turnover in respect of transport income is recognised when the goods have been delivered to its intended location.

At the year-end, provisions are made to ensure that revenue is recognised in the accounting period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 25% on cost and 15% on cost
Motor vehicles - 20% on cost and 10% on cost
Computer equipment - 33% on cost, 25% on cost and 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. Motor vehicles are depreciated down to their disposal value under a straight line basis.

BOW DISTRIBUTION AND WAREHOUSING LIMITED (REGISTERED NUMBER: 03571925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 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
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.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs. They are subsequently measured at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2022 - 51 ) .

BOW DISTRIBUTION AND WAREHOUSING LIMITED (REGISTERED NUMBER: 03571925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 12,471 38,138 1,975,459 20,214 2,046,282
Additions 25,873 185,220 490,599 - 701,692
Disposals - - (106,917 ) - (106,917 )
At 30 June 2023 38,344 223,358 2,359,141 20,214 2,641,057
DEPRECIATION
At 1 July 2022 - 27,228 922,097 11,344 960,669
Charge for year 1,594 18,111 211,112 7,307 238,124
Eliminated on disposal - - (90,449 ) - (90,449 )
At 30 June 2023 1,594 45,339 1,042,760 18,651 1,108,344
NET BOOK VALUE
At 30 June 2023 36,750 178,019 1,316,381 1,563 1,532,713
At 30 June 2022 12,471 10,910 1,053,362 8,870 1,085,613

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,202,138 1,099,773
Amounts owed by group undertakings 28,798 71,399
Other debtors 10,215 12,326
Prepayments and accrued income 85,872 55,257
1,327,023 1,238,755

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 40,000 40,000
Hire purchase contracts (see note 8) 272,954 188,750
Trade creditors 856,977 804,386
Amounts owed to group undertakings 62,281 81,561
Corporation tax - 95,610
Social security and other taxes 31,897 29,254
VAT 96,619 116,396
Other creditors 24,583 27,369
Accruals and deferred income 89,046 130,953
1,474,357 1,514,279

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 40,000 40,000
Bank loans - 2-5 years 46,667 86,667
Hire purchase contracts (see note 8) 661,966 375,068
748,633 501,735

BOW DISTRIBUTION AND WAREHOUSING LIMITED (REGISTERED NUMBER: 03571925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 272,954 188,750
Between one and five years 661,966 375,068
934,920 563,818

Non-cancellable operating leases
2023 2022
£    £   
Within one year 157,194 157,194
Between one and five years 571,463 588,657
In more than five years 455,000 595,000
1,183,657 1,340,851

The financial commitments under operating leases are in relation to commercial property rental and office equipment.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 934,920 563,818

The hire purchase contracts are secured against the asset they relate to and carried forward in fixed assets.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 372,336 255,294

Deferred Other
tax provisions
£    £   
Balance at 1 July 2022 255,294 60,993
Provided during year 117,042 -
Credit to Income Statement during year - (41,008 )
Balance at 30 June 2023 372,336 19,985

Other provisions are included in other creditors.

BOW DISTRIBUTION AND WAREHOUSING LIMITED (REGISTERED NUMBER: 03571925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,494 Ordinary £1 3,494 3,494

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Mellor FCA (Senior Statutory Auditor)
for and on behalf of Johnson Tidsall Limited

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Bow Distribution and Warehousing Limited is a wholly owned subsidiary of SXG Holdings Limited. They share the same registered office. Consolidated financial statements, of which Bow Distribution and Warehousing Limited forms a part, are publicly available at Companies House, Crown Way, Cardiff, CF14 3UZ, DX 33050 Cardiff, United Kingdom.