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REGISTERED NUMBER: 09866992 (England and Wales)















BOWER MAPSON HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






BOWER MAPSON HOMES LIMITED (REGISTERED NUMBER: 09866992)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


BOWER MAPSON HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr P Mapson
Mrs P Mapson



SECRETARY: Mrs P Mapson



REGISTERED OFFICE: Willow House 7 The Avenue
Stanton Fitzwarren
SWINDON
Wiltshire
SN6 7SE



REGISTERED NUMBER: 09866992 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB

BOWER MAPSON HOMES LIMITED (REGISTERED NUMBER: 09866992)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,908 6,951

CURRENT ASSETS
Stocks 67,430 3,080
Debtors 5 1,427 955
Cash at bank 2,314 4,028
71,171 8,063
CREDITORS
Amounts falling due within one year 6 397,624 327,557
NET CURRENT LIABILITIES (326,453 ) (319,494 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(320,545

)

(312,543

)

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (320,547 ) (312,545 )
SHAREHOLDERS' FUNDS (320,545 ) (312,543 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 12th September 2024 and were signed on its behalf by:





Mr P Mapson - Director


BOWER MAPSON HOMES LIMITED (REGISTERED NUMBER: 09866992)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Bower Mapson Homes Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09866992

Registered office: Willow House 7 The Avenue, Stanton Fitzwarren, Swindon, Wiltshire, SN6 7SE

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Going concern
The directors have considered the going concern of the company and are confident of future sites coming to fruition. As a result, the directors believe that the company is a going concern.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Work in progress is valued with reference to the directors estimate of the overall profit margin expected on each project.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value. Costs are made up of direct materials, direct labour and other direct costs. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


BOWER MAPSON HOMES LIMITED (REGISTERED NUMBER: 09866992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 19,044
DEPRECIATION
At 1st April 2023 12,093
Charge for year 1,043
At 31st March 2024 13,136
NET BOOK VALUE
At 31st March 2024 5,908
At 31st March 2023 6,951


BOWER MAPSON HOMES LIMITED (REGISTERED NUMBER: 09866992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,427 955

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,381 1,130
Amounts owed to participating interests 185,999 160,999
Other creditors 205,244 165,428
397,624 327,557

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

8. RELATED PARTY DISCLOSURES

As at 31 March 2023, Bower Mapson Homes Limited owed £160,999 to a company holding a participating interest in Bower Mapson Homes Limited. There have been three transactions totalling £25,000 made during the current year and the balance outstanding at the year end is £185,999. The loan is provided interest free with no fixed repayment terms.