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Company No: 07720278 (England and Wales)

BOWDEN ENTERPRISES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

BOWDEN ENTERPRISES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

BOWDEN ENTERPRISES LIMITED

BALANCE SHEET

As at 31 December 2023
BOWDEN ENTERPRISES LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 219 357
Investment property 4 686,700 686,700
686,919 687,057
Current assets
Debtors 5 3,103 7,587
Cash at bank and in hand 127,902 108,557
131,005 116,144
Creditors: amounts falling due within one year 6 ( 66,841) ( 54,971)
Net current assets 64,164 61,173
Total assets less current liabilities 751,083 748,230
Provision for liabilities ( 53,517) ( 40,699)
Net assets 697,566 707,531
Capital and reserves
Called-up share capital 7 49,113 49,113
Share premium account 39,040 39,040
Fair value reserve 213,850 213,850
Profit and loss account 395,563 405,528
Total shareholders' funds 697,566 707,531

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Bowden Enterprises Limited (registered number: 07720278) were approved and authorised for issue by the Director on 05 March 2024. They were signed on its behalf by:

Mr C H W Mills
Director
BOWDEN ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
BOWDEN ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bowden Enterprises Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Higher Bowden, Furzeleigh Lane, Bovey Tracey, Devon, TQ13 9LX.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2023 1,188 1,188
At 31 December 2023 1,188 1,188
Accumulated depreciation
At 01 January 2023 831 831
Charge for the financial year 138 138
At 31 December 2023 969 969
Net book value
At 31 December 2023 219 219
At 31 December 2022 357 357

4. Investment property

Investment property
£
Valuation
As at 01 January 2023 686,700
As at 31 December 2023 686,700

5. Debtors

2023 2022
£ £
VAT recoverable 0 1,965
Other debtors 3,103 5,622
3,103 7,587

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 851 2,424
Amounts owed to director 47,451 45,540
Accruals 3,150 2,201
Corporation tax 9,404 4,806
Other taxation and social security 5,626 0
Other creditors 359 0
66,841 54,971

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
21,400 Ordinary A shares of £ 1.00 each 21,400 21,400
833 Ordinary B shares of £ 1.00 each (2022: 9,833 shares of £ 1.00 each) 833 9,833
6,750 Ordinary C shares of £ 1.00 each 6,750 6,750
6,250 Ordinary D shares of £ 1.00 each 6,250 6,250
4,630 Ordinary E shares of £ 1.00 each 4,630 4,630
250 Ordinary F shares of £ 1.00 each 250 250
4,500 Ordinary G shares of £ 1.00 each (2022: nil shares) 4,500 0
4,500 Ordinary H shares of £ 1.00 each (2022: nil shares) 4,500 0
49,113 49,113