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REGISTERED NUMBER: 02062976 (England and Wales)















Bowen Court Management Company Limited

Financial Statements for the Year Ended 31 March 2024






Bowen Court Management Company Limited (Registered number: 02062976)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Bowen Court Management Company Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R M Horlor
D W Butterworth
J R Green





SECRETARY: R M Horlor





REGISTERED OFFICE: Bowen Court
Duncan Road
Ramsgate
Kent
CT11 9XP





BUSINESS ADDRESS: 4 Bowen Court
Duncan Road
Ramsgate
Kent
CT11 9XP





REGISTERED NUMBER: 02062976 (England and Wales)





ACCOUNTANTS: Foreman Waller
Chartered Accountants
1 High Street
Sheerness
Kent
ME12 1NY

Bowen Court Management Company Limited (Registered number: 02062976)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,572 7,572

CURRENT ASSETS
Debtors 5 1,236 1,077
Cash at bank 1,949 2,347
3,185 3,424
CREDITORS
Amounts falling due within one year 6 599 539
NET CURRENT ASSETS 2,586 2,885
TOTAL ASSETS LESS CURRENT LIABILITIES 10,158 10,457

CAPITAL AND RESERVES
Called up share capital 66 66
Share premium 7,512 7,512
Retained earnings 2,580 2,879
SHAREHOLDERS' FUNDS 10,158 10,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:



R M Horlor - Director


Bowen Court Management Company Limited (Registered number: 02062976)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Bowen Court Management Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements of the Company have been prepared in accordance with Technical Factsheet 172 Residential Service Charge Accounts as best practice for the preparation of financial statements for residential management companies.

Service charges collected and receivable from leaseholders of the flats are assets belonging to a Statutory Trust (the "Statutory Trust") whose beneficiaries are the leaseholders, who are also the Company's shareholders. The Company acts as a Trustee of the Statutory Trust for the net current assets of the Company.

Income recognition
Turnover represents service and other charges raised on flat owners for the financial period.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023
and 31 March 2024 7,572
NET BOOK VALUE
At 31 March 2024 7,572
At 31 March 2023 7,572

Included in cost of land and buildings is freehold land of £ 7,572 (2023 - £ 7,572 ) which is not depreciated.

Bowen Court Management Company Limited (Registered number: 02062976)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 80 -
Other debtors 1,156 1,077
1,236 1,077

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5 -
Other creditors 594 539
599 539