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COMPANY REGISTRATION NUMBER: 14240235
Bowdens Diamonds Limited
Filleted Unaudited Financial Statements
31 March 2024
Bowdens Diamonds Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
Bowdens Diamonds Limited
Officers and Professional Advisers
Director
Mr A Bowden
Registered office
Second Floor
Riverside Offices
Lancaster
LA1 1RD
Accountants
Riverside Accountancy Lancaster Limited
Chartered accountants
Second Floor, Riverside Offices
26 St George's Quay
Lancaster
LA1 1RD
Bankers
National Westminster Bank Plc
PO Box 12263
1 Princes Street
London
EC2R 8PH
Bowdens Diamonds Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Current assets
Stocks
10,000
35,148
Debtors
5
1,240
2,373
Cash at bank and in hand
480
1,027
--------
--------
11,720
38,548
Creditors: amounts falling due within one year
6
36,112
39,483
--------
--------
Net current liabilities
24,392
935
--------
----
Total assets less current liabilities
( 24,392)
( 935)
--------
----
Net liabilities
( 24,392)
( 935)
--------
----
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
( 24,492)
( 1,035)
--------
-------
Shareholders deficit
( 24,392)
( 935)
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
Mr A Bowden
Director
Company registration number: 14240235
Bowdens Diamonds Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Second Floor, Riverside Offices, Lancaster, LA1 1RD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Employee numbers
During the year there was 1 employee of the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The average number of persons employed by the company during the year, including the director, amounted to:
2024
2023
No.
No.
Management staff
1
1
----
----
5. Debtors
2024
2023
£
£
Other debtors
1,240
2,373
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,913
Other creditors
36,112
37,570
--------
--------
36,112
39,483
--------
--------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
8. Related party transactions
Included in creditors is amounts owed to connected parties totalling £36,112 there are also amounts owed from a connected party of £1,000. During the year the company sold goods to a connected party for less than £5,000.
9. Controlling party
The company is controlled by its director .