REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
BOW COMMON LANE LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
BOW COMMON LANE LTD |
BOW COMMON LANE LTD (REGISTERED NUMBER: 12110386) |
Contents of the Financial Statements |
for the year ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
BOW COMMON LANE LTD |
Company Information |
for the year ended 31 July 2023 |
Director: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Juniper House |
Warley Hill Business Park |
The Drive |
Brentwood |
Essex |
CM13 3BE |
BOW COMMON LANE LTD (REGISTERED NUMBER: 12110386) |
Balance Sheet |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ |
Current assets |
Debtors | 4 |
Cash at bank | 5 |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
BOW COMMON LANE LTD (REGISTERED NUMBER: 12110386) |
Notes to the Financial Statements |
for the year ended 31 July 2023 |
1. | Statutory information |
Bow Common Lane Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of. |
There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Going concern |
The director has reviewed the company's cashflows over the next 12 months and consider the business to be a going concern. The director will continue to support the company as required along with steps being taken by management to ensure that all financial commitments can be met when they fall due. |
3. | Employees and directors |
The average number of employees during the year was |
BOW COMMON LANE LTD (REGISTERED NUMBER: 12110386) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2023 |
4. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed by associates |
Other debtors |
5. | Cash at bank |
2023 | 2022 |
£ | £ |
Cash at Bank and in hand | 1,413 | 1,814 |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Trade creditors |
Amounts owed to associates | 197,196 | 126,215 |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans (see note 8) |
8. | Loans |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
The Bank loan is guaranteed by the UK Government as part of the Bounce Back Loan Scheme (BBLS). |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary Shares | £1 | 1 | 1 |
BOW COMMON LANE LTD (REGISTERED NUMBER: 12110386) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2023 |
10. | Related party disclosures |
As at 31 July 2023, a total amount of £214,065 (2022: £162,795) is due from companies related by virtue of common ownership. |
As at 31 July 2023, a total amount of £197,196 (2022: £126,215) is due to companies related by virtue of common ownership. All the companies are connected by virtue of having M Smith as a common director. |
11. | Controlling party |
The company is under the control of Michael Smith by virtue of his 100% shareholding |