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REGISTERED NUMBER: 04153806 (England and Wales)















Financial Statements for the Year Ended 28 February 2023

for

Bowloom Limited

Bowloom Limited (Registered number: 04153806)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Bowloom Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr P Baker



SECRETARY: Mrs K Baker



REGISTERED OFFICE: Foresters Hall
25/27 Westow Street
London
SE19 3RY



REGISTERED NUMBER: 04153806 (England and Wales)



ACCOUNTANTS: Gibsons Financial Limited
Chartered Accountants
Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY



BANKERS: Lloyds TSB (Bromley Branch)
6 Market Square
Bromley
Kent
BR1 1NA

Bowloom Limited (Registered number: 04153806)

Abridged Balance Sheet
28 February 2023

28/2/23 28/2/22
Notes £ £
FIXED ASSETS
Tangible assets 4 19,409 22,404

CURRENT ASSETS
Stocks 56,436 55,859
Debtors 274,691 291,083
Cash at bank - 14,376
331,127 361,318
CREDITORS
Amounts falling due within one year (268,923 ) (249,504 )
NET CURRENT ASSETS 62,204 111,814
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,613

134,218

CREDITORS
Amounts falling due after more than one
year

(51,724

)

(59,128

)

PROVISIONS FOR LIABILITIES (10,325 ) (10,325 )
NET ASSETS 19,564 64,765

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5 19,464 64,665
SHAREHOLDERS' FUNDS 19,564 64,765

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Bowloom Limited (Registered number: 04153806)

Abridged Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 November 2023 and were signed by:





Mr P Baker - Director


Bowloom Limited (Registered number: 04153806)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Bowloom 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.

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.

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.
Short leasehold - 20% on cost
Fixtures & fittings - 20% on cost
Motor vehicles - 25% on cost
Computer & office 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.

Bowloom Limited (Registered number: 04153806)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 March 2022 308,643
Disposals (50,995 )
At 28 February 2023 257,648
DEPRECIATION
At 1 March 2022 286,239
Eliminated on disposal (48,000 )
At 28 February 2023 238,239
NET BOOK VALUE
At 28 February 2023 19,409
At 28 February 2022 22,404

Bowloom Limited (Registered number: 04153806)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 March 2022 153,548
Disposals (50,995 )
At 28 February 2023 102,553
DEPRECIATION
At 1 March 2022 169,233
Eliminated on disposal (48,000 )
At 28 February 2023 121,233
NET BOOK VALUE
At 28 February 2023 (18,680 )
At 28 February 2022 (15,685 )

5. RESERVES
Retained
earnings
£

At 1 March 2022 64,665
Profit for the year 16,552
Dividends (61,753 )
At 28 February 2023 19,464

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28/2/23 28/2/22
£ £
Mr P Baker
Balance outstanding at start of year 153,709 153,709
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 153,709 153,709

Bowloom Limited (Registered number: 04153806)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

Interest at 2.5.% per annum was charged on the balance outstanding during the year on the director's loan.

7. RELATED PARTY DISCLOSURES

Mr P Baker has provided a personal guarantee to the bank on an overdraft facility of £35,000.

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Baker.