Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312022-09-01falseInformation Technology Consultancy Activities66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09731051 2022-09-01 2023-08-31 09731051 2021-09-01 2022-08-31 09731051 2023-08-31 09731051 2022-08-31 09731051 c:Director1 2022-09-01 2023-08-31 09731051 d:FurnitureFittings 2022-09-01 2023-08-31 09731051 d:FurnitureFittings 2023-08-31 09731051 d:FurnitureFittings 2022-08-31 09731051 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09731051 d:OfficeEquipment 2022-09-01 2023-08-31 09731051 d:OfficeEquipment 2023-08-31 09731051 d:OfficeEquipment 2022-08-31 09731051 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09731051 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09731051 d:CurrentFinancialInstruments 2023-08-31 09731051 d:CurrentFinancialInstruments 2022-08-31 09731051 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 09731051 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 09731051 d:ShareCapital 2023-08-31 09731051 d:ShareCapital 2022-08-31 09731051 d:SharePremium 2023-08-31 09731051 d:SharePremium 2022-08-31 09731051 d:RetainedEarningsAccumulatedLosses 2023-08-31 09731051 d:RetainedEarningsAccumulatedLosses 2022-08-31 09731051 c:FRS102 2022-09-01 2023-08-31 09731051 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 09731051 c:FullAccounts 2022-09-01 2023-08-31 09731051 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09731051 d:Subsidiary1 2022-09-01 2023-08-31 09731051 d:Subsidiary1 1 2022-09-01 2023-08-31 09731051 6 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 09731051









BOWMEN GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
BOWMEN GROUP LIMITED
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 9


 
BOWMEN GROUP LIMITED
REGISTERED NUMBER: 09731051

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,598
6,385

Investments
 5 
100
100

  
4,698
6,485

Current assets
  

Debtors: amounts falling due within one year
 6 
194,791
146,865

Cash at bank and in hand
  
(1,478)
37,794

  
193,313
184,659

Creditors: amounts falling due within one year
 7 
(52,848)
(35,294)

Net current assets
  
 
 
140,465
 
 
149,365

Total assets less current liabilities
  
145,163
155,850

Provisions for liabilities
  

Deferred tax
  
(671)
(1,010)

  
 
 
(671)
 
 
(1,010)

Net assets
  
144,492
154,840


Capital and reserves
  

Called up share capital 
  
12,667
12,667

Share premium account
  
6,227
6,227

Profit and loss account
  
125,598
135,946

  
144,492
154,840


Page 1

 
BOWMEN GROUP LIMITED
REGISTERED NUMBER: 09731051
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S M Scott
Director

Date: 7 February 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BOWMEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Bowmen Group Limited is a private company limited by shares incorporated in England & Wales under the Companies Act 2006.  The address of the registered office is given on the Company information page.  
The principal activity of the Company is management consultancy.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BOWMEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
3 years straight line
Office equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
BOWMEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Page 5

 
BOWMEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Page 6

 
BOWMEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).

Page 7

 
BOWMEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 September 2022
1,099
18,192
19,291


Additions
-
5,434
5,434



At 31 August 2023

1,099
23,626
24,725



Depreciation


At 1 September 2022
732
12,174
12,906


Charge for the year on owned assets
366
6,855
7,221



At 31 August 2023

1,098
19,029
20,127



Net book value



At 31 August 2023
1
4,597
4,598



At 31 August 2022
367
6,018
6,385


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2022
100



At 31 August 2023
100




Page 8

 
BOWMEN GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Bowmen Group B.V.
Netherlands
Ordinary
100%

The aggregate of the share capital and reserves as at 31 August 2023 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:

Name

Bowmen Group B.V.


6.


Debtors

2023
2022
£
£


Trade debtors
140,320
91,078

Other debtors
10,500
10,500

Prepayments and accrued income
43,971
45,287

194,791
146,865



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
17,260
592

Corporation tax
7,170
6,531

Other taxation and social security
15,457
17,930

Other creditors
8,763
3,521

Accruals and deferred income
4,198
6,720

52,848
35,294



8.


Related party transactions

During the year the Company paid management fees of £124,138 (2022: £106,645) to Alderse Baas BV, a shareholder. 
Other Debtors includes a balance of £10,000 (2022: £10,000) due to a related party, Bowmen Risk Intelligence LLP based in India. 

 
Page 9