Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr J C Bowell 06/07/2004 Mrs M Bowell 06/07/2004 19 March 2024 The principal activity of the Company during the financial year is the operation of a caravan site. 05172280 2023-12-31 05172280 bus:Director1 2023-12-31 05172280 bus:Director2 2023-12-31 05172280 2022-12-31 05172280 core:CurrentFinancialInstruments 2023-12-31 05172280 core:CurrentFinancialInstruments 2022-12-31 05172280 core:Non-currentFinancialInstruments 2023-12-31 05172280 core:Non-currentFinancialInstruments 2022-12-31 05172280 core:ShareCapital 2023-12-31 05172280 core:ShareCapital 2022-12-31 05172280 core:RetainedEarningsAccumulatedLosses 2023-12-31 05172280 core:RetainedEarningsAccumulatedLosses 2022-12-31 05172280 core:Goodwill 2022-12-31 05172280 core:Goodwill 2023-12-31 05172280 core:LandBuildings 2022-12-31 05172280 core:OtherPropertyPlantEquipment 2022-12-31 05172280 core:LandBuildings 2023-12-31 05172280 core:OtherPropertyPlantEquipment 2023-12-31 05172280 2023-01-01 2023-12-31 05172280 bus:FilletedAccounts 2023-01-01 2023-12-31 05172280 bus:SmallEntities 2023-01-01 2023-12-31 05172280 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05172280 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05172280 bus:Director1 2023-01-01 2023-12-31 05172280 bus:Director2 2023-01-01 2023-12-31 05172280 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 05172280 2022-01-01 2022-12-31 05172280 core:LandBuildings 2023-01-01 2023-12-31 05172280 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 05172280 (England and Wales)

JC BOWELL DEVELOPMENTS LIMITED

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

JC BOWELL DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

JC BOWELL DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 December 2023
JC BOWELL DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 4 962,500 962,500
Tangible assets 5 2,198,769 2,194,848
3,161,269 3,157,348
Current assets
Stocks 0 67,500
Debtors 6 471,320 984,187
Cash at bank and in hand 120,383 188,379
591,703 1,240,066
Creditors: amounts falling due within one year 7 ( 514,699) ( 894,075)
Net current assets 77,004 345,991
Total assets less current liabilities 3,238,273 3,503,339
Creditors: amounts falling due after more than one year 8 ( 2,036,429) ( 2,443,838)
Net assets 1,201,844 1,059,501
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 1,200,844 1,058,501
Total shareholders' funds 1,201,844 1,059,501

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.

Directors' responsibilities:

The financial statements of JC Bowell Developments Limited (registered number: 05172280) were approved and authorised for issue by the Board of Directors on 19 March 2024. They were signed on its behalf by:

Mr J C Bowell
Director
JC BOWELL DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
JC BOWELL DEVELOPMENTS 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

JC Bowell Developments 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 Bryn Cethin Bach, Abersoch, Pwllheli, LL53 7UL, Wales, United Kingdom.

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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Intangible assets

Goodwill represents the apportioned cost of inherent goodwill in relation to the purchase of a caravan site. Goodwill is considered to be inherent in nature and linked to the purchase of land and consequently has not been amortised.

Goodwill not amortised
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 or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 25 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 962,500 962,500
At 31 December 2023 962,500 962,500
Accumulated amortisation
At 01 January 2023 0 0
At 31 December 2023 0 0
Net book value
At 31 December 2023 962,500 962,500
At 31 December 2022 962,500 962,500

5. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2023 2,157,548 72,067 2,229,615
Additions 0 16,950 16,950
At 31 December 2023 2,157,548 89,017 2,246,565
Accumulated depreciation
At 01 January 2023 0 34,767 34,767
Charge for the financial year 0 13,029 13,029
At 31 December 2023 0 47,796 47,796
Net book value
At 31 December 2023 2,157,548 41,221 2,198,769
At 31 December 2022 2,157,548 37,300 2,194,848

6. Debtors

2023 2022
£ £
Trade debtors 354,444 954,418
Other debtors 116,876 29,769
471,320 984,187

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 19,208 156,842
Taxation and social security 115,989 165,453
Other creditors 379,502 571,780
514,699 894,075

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 1,600,000 1,600,000
Other creditors 436,429 843,838
2,036,429 2,443,838

The bank loans of £1,600,000 are secured by a fixed and floating charge over the assets of the company.