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REGISTERED NUMBER: 07888332 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

RICHARD BOWNESS LIMITED

RICHARD BOWNESS LIMITED (REGISTERED NUMBER: 07888332)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RICHARD BOWNESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: R Bowness
Mrs H E Bowness





REGISTERED OFFICE: Colwith Orchard
Little Langdale
Ambleside
Cumbria
LA22 9NU





REGISTERED NUMBER: 07888332 (England and Wales)





ACCOUNTANTS: Ainsworths Limited
Chartered Accountants
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

RICHARD BOWNESS LIMITED (REGISTERED NUMBER: 07888332)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,353 15,035
Tangible assets 5 8,398 10,671
16,751 25,706

CURRENT ASSETS
Stocks 29,995 27,000
Debtors 6 3,613 2,863
Cash at bank and in hand 6,845 12,106
40,453 41,969
CREDITORS
Amounts falling due within one year 7 1,450 4,416
NET CURRENT ASSETS 39,003 37,553
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,754

63,259

CREDITORS
Amounts falling due after more than one
year

8

465,594

444,928
NET LIABILITIES (409,840 ) (381,669 )

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings (409,941 ) (381,770 )
SHAREHOLDERS' FUNDS (409,840 ) (381,669 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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.

RICHARD BOWNESS LIMITED (REGISTERED NUMBER: 07888332)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th August 2024 and were signed on its behalf by:





R Bowness - Director


RICHARD BOWNESS LIMITED (REGISTERED NUMBER: 07888332)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Richard Bowness 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.

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 have been prepared on a going concern basis which assumes that the company will be able to meet its liabilities as they fall due. The directors have confirmed that they will provide support for at least 12 months following the approval of these financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Product development costs
Costs incurred in the development of products are capitalised as an intangible asset and are amortised over their estimated useful life of ten years, on a straight line basis from the date that benefits were first derived from the product.

Website development costs
Website development costs are capitalised as an intangible asset and are amortised over their estimated useful life of three years, on a straight line basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold property - 100% on cost
Plant and vehicles - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Tooling equipment - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


RICHARD BOWNESS LIMITED (REGISTERED NUMBER: 07888332)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Product Website
development development Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 98,853 19,344 118,197
AMORTISATION
At 1st January 2023 83,818 19,344 103,162
Amortisation for year 6,682 - 6,682
At 31st December 2023 90,500 19,344 109,844
NET BOOK VALUE
At 31st December 2023 8,353 - 8,353
At 31st December 2022 15,035 - 15,035

RICHARD BOWNESS LIMITED (REGISTERED NUMBER: 07888332)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
leasehold Plant and and
property vehicles fittings
£    £    £   
COST
At 1st January 2023
and 31st December 2023 6,653 51,145 1,042
DEPRECIATION
At 1st January 2023 6,653 45,931 790
Charge for year - 1,044 37
At 31st December 2023 6,653 46,975 827
NET BOOK VALUE
At 31st December 2023 - 4,170 215
At 31st December 2022 - 5,214 252

Tooling Computer
equipment equipment Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 37,890 1,769 98,499
DEPRECIATION
At 1st January 2023 33,393 1,061 87,828
Charge for year 898 294 2,273
At 31st December 2023 34,291 1,355 90,101
NET BOOK VALUE
At 31st December 2023 3,599 414 8,398
At 31st December 2022 4,497 708 10,671

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,146 2,371
Other debtors 2,467 492
3,613 2,863

RICHARD BOWNESS LIMITED (REGISTERED NUMBER: 07888332)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors - 2,432
Taxation and social security - 534
Other creditors 1,450 1,450
1,450 4,416

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 465,594 444,928