Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312023-07-31false2022-08-01falseNo description of principal activityfalse 03951868 2022-08-01 2023-07-31 03951868 2021-08-01 2022-07-31 03951868 2023-07-31 03951868 2022-07-31 03951868 2021-08-01 03951868 c:Director1 2022-08-01 2023-07-31 03951868 c:Director3 2022-08-01 2023-07-31 03951868 c:RegisteredOffice 2022-08-01 2023-07-31 03951868 c:Agent1 2022-08-01 2023-07-31 03951868 c:Agent2 2022-08-01 2023-07-31 03951868 c:Agent3 2022-08-01 2023-07-31 03951868 d:Buildings 2022-08-01 2023-07-31 03951868 d:Buildings 2023-07-31 03951868 d:Buildings 2022-07-31 03951868 d:Buildings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03951868 d:LandBuildings 2023-07-31 03951868 d:LandBuildings 2022-07-31 03951868 d:PlantMachinery 2022-08-01 2023-07-31 03951868 d:PlantMachinery 2023-07-31 03951868 d:PlantMachinery 2022-07-31 03951868 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03951868 d:MotorVehicles 2022-08-01 2023-07-31 03951868 d:MotorVehicles 2023-07-31 03951868 d:MotorVehicles 2022-07-31 03951868 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03951868 d:FurnitureFittings 2022-08-01 2023-07-31 03951868 d:FurnitureFittings 2023-07-31 03951868 d:FurnitureFittings 2022-07-31 03951868 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03951868 d:OfficeEquipment 2022-08-01 2023-07-31 03951868 d:OfficeEquipment 2023-07-31 03951868 d:OfficeEquipment 2022-07-31 03951868 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03951868 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 03951868 d:CurrentFinancialInstruments 2023-07-31 03951868 d:CurrentFinancialInstruments 2022-07-31 03951868 d:Non-currentFinancialInstruments 2023-07-31 03951868 d:Non-currentFinancialInstruments 2022-07-31 03951868 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 03951868 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 03951868 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 03951868 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 03951868 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 03951868 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 03951868 d:ShareCapital 2022-08-01 2023-07-31 03951868 d:ShareCapital 2023-07-31 03951868 d:ShareCapital 2021-08-01 2022-07-31 03951868 d:ShareCapital 2022-07-31 03951868 d:ShareCapital 2021-08-01 03951868 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 03951868 d:RetainedEarningsAccumulatedLosses 2023-07-31 03951868 d:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 03951868 d:RetainedEarningsAccumulatedLosses 2022-07-31 03951868 d:RetainedEarningsAccumulatedLosses 2021-08-01 03951868 c:OrdinaryShareClass1 2022-08-01 2023-07-31 03951868 c:OrdinaryShareClass1 2023-07-31 03951868 c:OrdinaryShareClass1 2022-07-31 03951868 c:FRS102 2022-08-01 2023-07-31 03951868 c:Audited 2022-08-01 2023-07-31 03951868 c:FullAccounts 2022-08-01 2023-07-31 03951868 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 03951868 d:Subsidiary1 2022-08-01 2023-07-31 03951868 d:Subsidiary1 1 2022-08-01 2023-07-31 03951868 d:Subsidiary2 2022-08-01 2023-07-31 03951868 d:Subsidiary2 1 2022-08-01 2023-07-31 03951868 d:Subsidiary3 2022-08-01 2023-07-31 03951868 d:Subsidiary3 1 2022-08-01 2023-07-31 03951868 d:WithinOneYear 2023-07-31 03951868 d:WithinOneYear 2022-07-31 03951868 d:BetweenOneFiveYears 2023-07-31 03951868 d:BetweenOneFiveYears 2022-07-31 03951868 d:HirePurchaseContracts d:WithinOneYear 2023-07-31 03951868 d:HirePurchaseContracts d:WithinOneYear 2022-07-31 03951868 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-07-31 03951868 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-07-31 03951868 c:Consolidated 2023-07-31 03951868 c:ConsolidatedGroupCompanyAccounts 2022-08-01 2023-07-31 03951868 2 2022-08-01 2023-07-31 03951868 6 2022-08-01 2023-07-31 03951868 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 03951868 e:PoundSterling 2022-08-01 2023-07-31 03951868 d:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties 2022-08-01 2023-07-31 03951868 d:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties 2022-08-01 2023-07-31 03951868 d:OtherTransactionType1 2022-08-01 2023-07-31 03951868 d:OtherTransactionType2 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03951868
















BOWDEN DERRA PARK LIMITED




ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023


































img1e90.png


BOWDEN DERRA PARK LIMITED

 
COMPANY INFORMATION


DIRECTORS
Mr D E Cash 
Mrs F Harris 




REGISTERED NUMBER
03951868



REGISTERED OFFICE
Bowden Derra Park
Polyphant

Launceston

Cornwall

PL15 7PU




INDEPENDENT AUDITORS
Bishop Fleming LLP
Chartered Accountants & Statutory Auditors

Chy Nyverow

Newham Road

Truro

Cornwall

TR1 2DP




BANKERS
Santander UK PLC
Bridle Road

Bootle

Merseyside

L30 4GB





NatWest

1st Floor

6 St Andrews Cross

Plymouth

Devon

PL4 0WB





Svenska Handelsbanken AB

Ground Floor, Salt Quay House

4 North East Quay

Sutton Harbour

Plymouth

Devon

PL4 0BN




Barclays Bank PLC
6 Broad Street

Launceston

Cornwall

PL15 8AF






BOWDEN DERRA PARK LIMITED


CONTENTS



Page
Group strategic report
 
1
Directors' report
 
2 - 3
Independent auditors' report
 
4 - 7
Consolidated statement of comprehensive income
 
8
Consolidated statement of financial position
 
9
Company statement of financial position
 
10
Consolidated statement of changes in equity
 
11
Company statement of changes in equity
 
12
Consolidated statement of cash flows
 
13
Consolidated analysis of net debt
 
14
Notes to the financial statements
 
15 - 32



BOWDEN DERRA PARK LIMITED

 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2023

INTRODUCTION
 
The principal activity of the group is providing comprehensive care support to adults with all types of learning and associated disabilities in a community setting. The group provides a diverse range of accommodation and support and has excellent additional facilities.

BUSINESS REVIEW
 
The group continues to perform well, providing skilled support for adults with a wide range of needs. Occupancy levels have remained consistent during the financial year and the directors are confident that the group will maintain its current level of performance.
Whilst funding of both the Health and Adult Social Care sectors remain difficult, there is a strong demand for the skilled services the business offers, both from geographically close local authorities and those further away, with enquiries for placements being received on a weekly basis.
Staffing in the care sector is challenging for all providers, and staffing levels are monitored constantly. It is the group's intention to become an Employee Ownership Trust in the near future, which we believe will empower the staff who work with us and aid further recruitment.
Forecasts for the next twelve months indicate stable profitability and sufficient working capital to meet ongoing liabilities, and the directors are of the opinion it is appropriate for the financial statements to be drawn up on a going concern basis.

PRINCIPAL RISKS AND UNCERTAINTIES
 
Risks affecting the group include the future government funding policies for care services, and the availability of credit and interest rate policies. In addition, various financial instruments (e.g. trade debtors, trade creditors, accruals and prepayments) arise directly from the group's operations.
The group monitors credit risk closely and considers that its current policies of credit checks meet its objectives of managing exposure to credit risk.
The group has no significant concentrations of credit risk. Amounts shown in the balance sheet best represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments. 

FINANCIAL KEY PERFORMANCE INDICATORS
 
The principal key performance indicators for the group are operating profit and net assets. Operating profit for 2023 is £1,296,735 (2022: £792,649) and net assets are £6,742,313 (2022: £5,791,471).


This report was approved by the board on 28 February 2024 and signed on its behalf.



Mrs F Harris
Director

Page 1


BOWDEN DERRA PARK LIMITED

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2023

The directors present their report and the financial statements for the year ended 31 July 2023.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RESULTS AND DIVIDENDS

The profit for the year, after taxation, amounted to £950,842 (2022: £463,481).

No dividends were voted during the year.

DIRECTORS

The directors who served during the year were:

Mr D E Cash 
Mrs F Harris 

FUTURE DEVELOPMENTS

With diverse types of accommodation and excellent facilities including a hydrotherapy pool, restaurant and conference facilities, the directors are keen to expand both the range of care currently provided and to extend its offering to include training for other care providers and conference room hire.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as each of the directors is aware, there is no relevant audit information of which the company and the Group's auditors are unaware, and

each of the directors has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditors are aware of that information.

Page 2


BOWDEN DERRA PARK LIMITED
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
AUDITORS

The auditorsBishop Fleming LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 






Mrs F Harris
Director

Date: 28 February 2024

Bowden Derra Park
Polyphant
Launceston
Cornwall
PL15 7PU

Page 3


BOWDEN DERRA PARK LIMITED

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BOWDEN DERRA PARK LIMITED
OPINION


We have audited the financial statements of Bowden Derra Park Limited (the 'parent company') and its subsidiaries (the 'Group') for the year ended 31 July 2023, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated and Company Statements of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated and Company Statements of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent company's affairs as at 31 July 2023 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


BASIS FOR OPINION


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


CONCLUSIONS RELATING TO GOING CONCERN


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


OTHER INFORMATION


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 4


BOWDEN DERRA PARK LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BOWDEN DERRA PARK LIMITED (CONTINUED)

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
 

In the light of the knowledge and understanding of the Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


RESPONSIBILITIES OF DIRECTORS
 

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent company or to cease operations, or have no realistic alternative but to do so.


Page 5


BOWDEN DERRA PARK LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BOWDEN DERRA PARK LIMITED (CONTINUED)

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The nature of the industry and sector, control environment and business performance;
The results of our enquiries of management about their own identification and assessment of the risks of irregularities;
Any matters identified having obtained and reviewed the company's documentation of their policies and procedures relating to:
°Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
°Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
°The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations, and;
The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements, and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in revenue recognition cut-off.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls.
We have also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, Financial Reporting Standard 102 and UK tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the company's ability to operate or avoid a material penalty. These included health and social care regulations, safeguarding regulations, food safety regulations, customer care regulations, data protection regulations, occupational health and safety regulations, and employment legislation.
Our procedures to respond to the risks identified included the following:

Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
Reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
Enquiring of management concerning actual and potential litigation and claims;
Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and
In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries, and other adjustments; assessing whether the judgments made in making accounting
Page 6


BOWDEN DERRA PARK LIMITED
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BOWDEN DERRA PARK LIMITED (CONTINUED)

estimates are indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
 
We also communicated relevant identified laws and regulations and potential fraud risk to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
The engagement team performed the majority of the audit testing remotely using online portals to share documentation securely and to make enquiries. Some testing was also performed in person on-site. This has not had any detrimental impact on our ability to identify and respond to risks.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


USE OF OUR REPORT
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.






Alison Oliver FCA (Senior statutory auditor)
for and on behalf of
Bishop Fleming LLP
Chartered Accountants
Statutory Auditors
Chy Nyverow
Newham Road
Truro
Cornwall
TR1 2DP

28 February 2024
Page 7


BOWDEN DERRA PARK LIMITED

 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2023

2023
2022
Note
£
£

  

Turnover
 4 
9,114,299
8,088,416

Cost of sales
  
(5,799,727)
(5,052,474)

Gross profit
  
3,314,572
3,035,942

Administrative expenses
  
(2,079,337)
(2,397,364)

Other operating income
 5 
61,500
154,071

Operating profit
 6 
1,296,735
792,649

Interest receivable and similar income
 10 
31,661
711

Interest payable and similar expenses
 11 
(220,006)
(107,594)

Profit before taxation
  
1,108,390
685,766

Tax on profit
 12 
(157,548)
(222,285)

Profit for the financial year
  
950,842
463,481

  

Total comprehensive income for the year
  
950,842
463,481

Profit for the year attributable to:
  

Owners of the parent company
  
950,842
463,481

  
950,842
463,481

The notes on pages 15 to 32 form part of these financial statements.

Page 8


BOWDEN DERRA PARK LIMITED
REGISTERED NUMBER:03951868

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 13 
9,043,300
9,157,102

  
9,043,300
9,157,102

Current assets
  

Stocks
 15 
12,552
11,812

Debtors: amounts falling due within one year
 16 
1,546,374
1,350,246

Cash at bank and in hand
 17 
1,310,412
772,162

  
2,869,338
2,134,220

Creditors: amounts falling due within one year
 18 
(1,628,830)
(1,701,011)

Net current assets
  
 
 
1,240,508
 
 
433,209

Total assets less current liabilities
  
10,283,808
9,590,311

Creditors: amounts falling due after more than one year
 19 
(3,520,970)
(3,795,362)

Provisions for liabilities
  

Deferred taxation
 22 
(20,525)
(3,478)

  
 
 
(20,525)
 
 
(3,478)

Net assets
  
6,742,313
5,791,471


Capital and reserves
  

Called up share capital 
 23 
1,000
1,000

Profit and loss account
  
6,741,313
5,790,471

  
6,742,313
5,791,471


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



Mrs F Harris
Director

Date: 28 February 2024

The notes on pages 15 to 32 form part of these financial statements.

Page 9


BOWDEN DERRA PARK LIMITED
REGISTERED NUMBER:03951868

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 13 
5,222,784
5,267,591

Investments
 14 
102
102

  
5,222,886
5,267,693

Current assets
  

Stocks
 15 
1,500
1,500

Debtors: amounts falling due after more than one year
 16 
627,272
627,272

Debtors: amounts falling due within one year
 16 
4,432,426
4,138,975

Cash at bank and in hand
 17 
1,307,389
766,190

  
6,368,587
5,533,937

Creditors: amounts falling due within one year
 18 
(1,534,940)
(1,604,328)

Net current assets
  
 
 
4,833,647
 
 
3,929,609

Total assets less current liabilities
  
10,056,533
9,197,302

  

Creditors: amounts falling due after more than one year
 19 
(2,664,409)
(2,870,787)

Provisions for liabilities
  

Deferred taxation
 22 
(20,022)
-

  
 
 
(20,022)
 
 
-

Net assets
  
7,372,102
6,326,515


Capital and reserves
  

Called up share capital 
 23 
1,000
1,000

Profit and loss account
  
7,371,102
6,325,515

  
7,372,102
6,326,515


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



Mrs F Harris
Director

Date: 28 February 2024

The notes on pages 15 to 32 form part of these financial statements.

Page 10


BOWDEN DERRA PARK LIMITED


CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2021
1,000
5,326,990
5,327,990


Comprehensive income for the year

Profit for the year
-
463,481
463,481
Total comprehensive income for the year
-
463,481
463,481


Total transactions with owners
-
-
-



At 1 August 2022
1,000
5,790,471
5,791,471


Comprehensive income for the year

Profit for the year
-
950,842
950,842
Total comprehensive income for the year
-
950,842
950,842


Total transactions with owners
-
-
-


At 31 July 2023
1,000
6,741,313
6,742,313


The notes on pages 15 to 32 form part of these financial statements.

Page 11


BOWDEN DERRA PARK LIMITED


COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2021
1,000
5,771,420
5,772,420


Comprehensive income for the year

Profit for the year
-
554,095
554,095
Total comprehensive income for the year
-
554,095
554,095


Total transactions with owners
-
-
-



At 1 August 2022
1,000
6,325,515
6,326,515


Comprehensive income for the year

Profit for the year
-
1,045,587
1,045,587


Total transactions with owners
-
-
-


At 31 July 2023
1,000
7,371,102
7,372,102


The notes on pages 15 to 32 form part of these financial statements.

Page 12


BOWDEN DERRA PARK LIMITED


CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
950,842
463,481

Adjustments for:

Depreciation of tangible assets
250,076
231,826

Loss on disposal of tangible assets
144
-

Government grants
(61,500)
(154,071)

Interest paid
220,006
107,594

Interest received
(31,661)
(711)

Taxation charge
157,548
370,995

(Increase) in stocks
(740)
(2,968)

(Increase) in debtors
(196,126)
(780,076)

Increase in creditors
129,670
208,272

(Decrease)/increase in provisions
(2,975)
-

Corporation tax (paid)/received
(350,851)
-

Net cash generated from operating activities

1,064,433
444,342


Cash flows from investing activities

Purchase of tangible fixed assets
(136,418)
(111,497)

Government grants received
61,500
154,071

Interest received
31,661
711

HP interest paid
(1,526)
(1,852)

Net cash from investing activities

(44,783)
41,433

Cash flows from financing activities

Repayment of loans
(271,734)
(264,783)

Repayment of/new finance leases
8,814
(7,393)

Interest paid
(218,480)
(105,742)

Net cash used in financing activities
(481,400)
(377,918)

Net increase in cash and cash equivalents
538,250
107,857

Cash and cash equivalents at beginning of year
772,162
664,305

Cash and cash equivalents at the end of year
1,310,412
772,162


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
1,310,412
772,162


The notes on pages 15 to 32 form part of these financial statements.

Page 13


BOWDEN DERRA PARK LIMITED


CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 JULY 2023





At 1 August 2022
Cash flows
New finance leases
At 31 July 2023
£

£

£

£

Cash at bank and in hand

772,162

538,250

-

1,310,412

Debt due after 1 year

(3,780,090)

278,072

-

(3,502,018)

Debt due within 1 year

(271,734)

(6,338)

-

(278,072)

Finance leases

(22,480)

7,186

(16,000)

(31,294)



(3,302,142)
817,170
(16,000)
(2,500,972)

The notes on pages 15 to 32 form part of these financial statements.

Page 14


BOWDEN DERRA PARK LIMITED

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

1.


GENERAL INFORMATION

Bowden Derra Park Limited is a limited liability company incorporated in England. The registered office is Polyphant House, Polyphant, Launceston, Cornwall PL15 7PU.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 August 2015.

 
2.3

GOING CONCERN

After reviewing the Group's forecasts and projections, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group therefore adopts the going concern basis in preparing its financial statements. 

Page 15


BOWDEN DERRA PARK LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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 Group 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.

 
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:

Freehold property
-
2%
Plant and machinery
-
10%
Motor vehicles
-
25%
Fixtures and fittings
-
20%
Office equipment
-
20%

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

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.

Page 16


BOWDEN DERRA PARK LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.7

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

 
2.10

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.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.11

FINANCIAL INSTRUMENTS

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Page 17


BOWDEN DERRA PARK LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.12

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.

 
2.13

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.14

OPERATING LEASES: THE GROUP AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.15

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

 
2.16

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.17

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 18


BOWDEN DERRA PARK LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.18

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 reporting date in the countries where the company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgments (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Intercompany balances and recoverability
The company assesses at each reporting date whether an intercompany debt is recoverable. If any indication exists that there may be doubts over the recoverability of the debt, the company estimates the recoverable amount of the debt and includes a provision for the estimated irrecoverable amount.


4.


TURNOVER

The whole of the turnover is attributable to the company's principal activity.

All turnover arose within the United Kingdom.

Page 19


BOWDEN DERRA PARK LIMITED

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

5.


OTHER OPERATING INCOME

2023
2022
£
£

Government grants receivable
61,500
154,071

61,500
154,071



6.


OPERATING PROFIT

The operating profit is stated after charging:

2023
2022
£
£

Other operating lease rentals
29,697
29,686


7.


AUDITORS' REMUNERATION

During the year, the Group obtained the following services from the company's auditors:


2023
2022
£
£

Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements
19,300
18,250

Fees payable to the company's auditors in respect of:

The auditing of accounts of associates of the company
9,900
8,655

Other services relating to taxation
-
3,366

All other services
1,250
1,043

Page 20


BOWDEN DERRA PARK LIMITED

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

8.


EMPLOYEES

Staff costs, including directors' remuneration, were as follows:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Wages and salaries
4,577,713
4,381,507
4,546,966
4,361,944

Social security costs
418,043
414,527
415,686
412,964

Cost of defined contribution scheme
81,780
69,789
81,120
69,381

5,077,536
4,865,823
5,043,772
4,844,289


The average number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Administrative
11
12



Care and nursing
151
134



Cleaning and maintenance
15
9



Catering
8
8



Shop
1
1

186
164


9.


DIRECTORS' REMUNERATION

2023
2022
£
£

Directors' emoluments
246,700
576,304

Group contributions to defined contribution pension schemes
1,117
1,125

247,817
577,429


During the year retirement benefits were accruing to 1 director (2022: 1) in respect of defined contribution pension schemes.


10.


INTEREST RECEIVABLE

2023
2022
£
£


Other interest receivable
31,661
711

31,661
711
Page 21


BOWDEN DERRA PARK LIMITED

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

11.


INTEREST PAYABLE AND SIMILAR EXPENSES

2023
2022
£
£


Bank interest payable
217,575
105,703

Other loan interest payable
121
39

Finance leases and hire purchase contracts
1,526
1,852

Other interest payable
784
-

220,006
107,594


12.


TAXATION


2023
2022
£
£

CORPORATION TAX


Current tax on profits for the year
261,583
222,285

Adjustments in respect of previous periods
(121,082)
-


140,501
222,285


TOTAL CURRENT TAX
140,501
222,285

DEFERRED TAX


Origination and reversal of timing differences
17,047
-

TOTAL DEFERRED TAX
17,047
-


TAXATION ON PROFIT ON ORDINARY ACTIVITIES
157,548
222,285
Page 22


BOWDEN DERRA PARK LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
 
12.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is lower than (2022: higher than) the standard rate of corporation tax in the UK of 21% (2022: 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
1,108,390
685,766


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 21% (2022: 19%)
232,762
130,296

EFFECTS OF:


Capital allowances for year in excess of depreciation
122,398
18,717

Other differences leading to an increase (decrease) in the tax charge
(197,612)
73,272

TOTAL TAX CHARGE FOR THE YEAR
157,548
222,285

The corporate tax rate increased from 19% to 25% as at 1st April 2023 and therefore an effective tax rate of 21% has been used in the above calculation.

Page 23


BOWDEN DERRA PARK LIMITED



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



13.


TANGIBLE FIXED ASSETS


Group







Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 August 2022
9,468,282
417,614
263,354
755,958
61,193
10,966,401


Additions
-
18,398
23,300
82,485
12,235
136,418


Disposals
-
-
-
(445)
-
(445)



At 31 July 2023

9,468,282
436,012
286,654
837,998
73,428
11,102,374



DEPRECIATION


At 1 August 2022
523,334
356,141
229,042
644,763
56,019
1,809,299


Charge for the year on owned assets
176,572
22,437
12,492
36,172
2,403
250,076


Disposals
-
-
-
(301)
-
(301)



At 31 July 2023

699,906
378,578
241,534
680,634
58,422
2,059,074



NET BOOK VALUE



At 31 July 2023
8,768,376
57,434
45,120
157,364
15,006
9,043,300



At 31 July 2022
8,944,948
61,473
34,312
111,195
5,174
9,157,102

Page 24


BOWDEN DERRA PARK LIMITED

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

           13.TANGIBLE FIXED ASSETS (CONTINUED)




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
8,768,376
8,944,949

8,768,376
8,944,949


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
51,845
60,122

51,845
60,122

Page 25


BOWDEN DERRA PARK LIMITED



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


           13.TANGIBLE FIXED ASSETS (CONTINUED)



Company







Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£

COST OR VALUATION


At 1 August 2022
5,393,915
415,329
263,354
672,827
60,569
6,805,994


Additions
-
13,038
23,300
82,438
12,235
131,011


Disposals
-
-
-
(445)
-
(445)



At 31 July 2023

5,393,915
428,367
286,654
754,820
72,804
6,936,560



DEPRECIATION


At 1 August 2022
322,848
355,207
229,042
575,834
55,472
1,538,403


Charge for the year on owned assets
107,616
21,315
12,492
31,870
2,381
175,674


Disposals
-
-
-
(301)
-
(301)



At 31 July 2023

430,464
376,522
241,534
607,403
57,853
1,713,776



NET BOOK VALUE



At 31 July 2023
4,963,451
51,845
45,120
147,417
14,951
5,222,784



At 31 July 2022
5,071,067
60,122
34,312
96,993
5,097
5,267,591


Page 26


BOWDEN DERRA PARK LIMITED

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

           13.TANGIBLE FIXED ASSETS (CONTINUED)




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
4,963,451
5,071,067

4,963,451
5,071,067



14.


FIXED ASSET INVESTMENTS

Company





Investments in subsidiary companies

£



COST OR VALUATION


At 1 August 2022
102



At 31 July 2023
102





SUBSIDIARY UNDERTAKINGS


The following were subsidiary undertakings of the company:

Name

Class of shares

Holding

Park Independents Limited
Ordinary
100%
Wood Row Park Limited
Ordinary
100%
Ardden Care Limited
Ordinary
100%

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

Name
Profit/(Loss)
£

Park Independents Limited
100

Wood Row Park Limited
1

Ardden Care Limited
1

Page 27


BOWDEN DERRA PARK LIMITED

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

15.


STOCKS

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Raw materials and consumables
1,500
1,500
1,500
1,500

Finished goods and goods for resale
11,052
10,312
-
-

12,552
11,812
1,500
1,500



16.


DEBTORS

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

DUE AFTER ONE YEAR

Amounts owed by group undertakings
-
-
627,272
627,272

-
-
627,272
627,272


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

DUE WITHIN ONE YEAR

Trade debtors
273,441
408,628
273,441
408,628

Amounts owed by group undertakings
-
-
2,898,130
2,800,134

Other debtors
1,193,563
827,213
1,191,265
826,486

Prepayments and accrued income
79,370
114,405
69,590
103,727

1,546,374
1,350,246
4,432,426
4,138,975



17.


CASH AND CASH EQUIVALENTS

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
1,310,412
772,162
1,307,389
766,190

1,310,412
772,162
1,307,389
766,190


Page 28


BOWDEN DERRA PARK LIMITED

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

18.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
278,072
271,734
210,058
205,270

Trade creditors
372,983
391,744
364,622
376,597

Corporation tax
263,724
477,556
263,724
477,102

Other taxation and social security
153,943
157,946
149,969
154,161

Obligations under finance lease and hire purchase contracts
12,342
7,208
12,342
7,208

Other creditors
290,650
161,033
289,607
160,035

Accruals and deferred income
257,116
233,790
244,618
223,955

1,628,830
1,701,011
1,534,940
1,604,328



19.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
3,502,018
3,780,090
2,645,457
2,855,515

Net obligations under finance leases and hire purchase contracts
18,952
15,272
18,952
15,272

3,520,970
3,795,362
2,664,409
2,870,787




Page 29


BOWDEN DERRA PARK LIMITED

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

20.


LOANS


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
278,072
271,734
210,058
205,270


278,072
271,734
210,058
205,270


AMOUNTS FALLING DUE 2-5 YEARS

Bank loans
3,502,018
3,780,090
2,645,457
2,855,515


3,502,018
3,780,090
2,645,457
2,855,515


3,780,090
4,051,824
2,855,515
3,060,785



21.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Within one year
12,342
7,208
12,342
7,208

Between 1-5 years
18,952
15,272
18,952
15,272

31,294
22,480
31,294
22,480

Page 30


BOWDEN DERRA PARK LIMITED

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

22.


DEFERRED TAXATION


Group



2023


£






At beginning of year
(3,478)


Charged to profit or loss
(17,047)



AT END OF YEAR
(20,525)

Company


2023


£






Charged to profit or loss
(20,022)



AT END OF YEAR
(20,022)

The provision for deferred taxation is made up as follows:

Group
Group
Company
2023
2022
2023
£
£
£

Accelerated capital allowances
(20,525)
(3,478)
(20,022)

(20,525)
(3,478)
(20,022)


23.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 (2022: 1,000) Ordinary shares of £1.00 each
1,000
1,000



24.


PENSION COMMITMENTS

The group operates a defined contributions pension scheme, The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £81,780 (2022: £69,789), there was an amount of £24,407 (2022: £19,013) in other creditors relating to these contributions.

Page 31


BOWDEN DERRA PARK LIMITED

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

25.


COMMITMENTS UNDER OPERATING LEASES

At 31 July 2023 the Group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Not later than 1 year
20,155
25,753
16,570
21,937

Later than 1 year and not later than 5 years
11,856
32,327
8,919
26,634

32,011
58,080
25,489
48,571


26.


RELATED PARTY TRANSACTIONS

At 31 July 2023 the company was owed £100,749 (2022 - £92,944) by The Westgate Centre, a business under the control of Mr Cash, a director. During the year, the company purchased services of £7,805 (2022 - received income of £1,367) from The Westgate Centre. 
At 31 July 2023 the company was owed £119,471 (2022: £76,608) by Derra Park Stud, a business under the control of Mr Cash, a director. During the year, the company purchased services of £42,863 (2022: received income of £13,138) from Derra Park Stud. 
At 31 July 2023 the company owed £Nil (2022: £28,607) to Park Properties, a business under the control of Mr Cash, a director. During the year, the company purchased building and maintenance services of £60,522 (2022: £141,813) from Park Properties.
At 31 July 2023, Mr Cash owed the company £694,249 (2022: £457,570). This is included in other debtors due within one year. Mr Cash is a director and shareholder of the company.
The company has taken advantage of the exemption to not disclose transactions between members of the group as permitted in accordance with FRS102.
Total remuneration paid to key management personnel for the year was £301,395 (2022: £577,429).


27.


CONTROLLING PARTY

Mr David Cash (director) has been the ultimate controlling party since October 2022.

 
Page 32