Bowerbird Homes Ltd 13212242 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is the development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true true 13212242 2023-03-01 2024-02-29 13212242 2024-02-29 13212242 core:CurrentFinancialInstruments 2024-02-29 13212242 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 13212242 core:FurnitureFittingsToolsEquipment 2024-02-29 13212242 bus:SmallEntities 2023-03-01 2024-02-29 13212242 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13212242 bus:FullAccounts 2023-03-01 2024-02-29 13212242 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13212242 bus:RegisteredOffice 2023-03-01 2024-02-29 13212242 bus:CompanySecretaryDirector1 2023-03-01 2024-02-29 13212242 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13212242 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 13212242 core:PlantMachinery 2023-03-01 2024-02-29 13212242 core:OtherRelatedParties 2023-03-01 2024-02-29 13212242 countries:EnglandWales 2023-03-01 2024-02-29 13212242 2023-02-28 13212242 core:FurnitureFittingsToolsEquipment 2023-02-28 13212242 2022-03-01 2023-02-28 13212242 2023-02-28 13212242 core:CurrentFinancialInstruments 2023-02-28 13212242 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13212242 core:FurnitureFittingsToolsEquipment 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 13212242

Prepared for the registrar

Bowerbird Homes Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Bowerbird Homes Ltd

(Registration number: 13212242)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

13,979

18,071

Current assets

 

Debtors

5

17,011

1,545

Cash at bank and in hand

 

21,376

46,697

 

38,387

48,242

Creditors: Amounts falling due within one year

6

(231,418)

(159,891)

Net current liabilities

 

(193,031)

(111,649)

Net liabilities

 

(179,052)

(93,578)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(179,152)

(93,678)

Shareholders' deficit

 

(179,052)

(93,578)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 


J Pearson
Company secretary and director

 

Bowerbird Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Wesley Gardens
Pebworth
Worcestershire
CV37 8DJ

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

 

Bowerbird Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
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 profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Bowerbird Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

 

4

Tangible assets

Plant and machinery
 £

Total
£

Cost

At 1 March 2023

20,458

20,458

At 29 February 2024

20,458

20,458

Depreciation

At 1 March 2023

2,387

2,387

Charge for the year

4,092

4,092

At 29 February 2024

6,479

6,479

Carrying amount

At 29 February 2024

13,979

13,979

At 28 February 2023

18,071

18,071

 

5

Debtors

2024
 £

2023
 £

Other debtors

14,979

1,545

Prepayments

2,032

-

Total current trade and other debtors

17,011

1,545

 

6

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

7

696

384

Trade creditors

 

75,242

9,120

Amounts due to related parties

8

152,481

148,691

Other creditors

 

1,074

531

Accrued expenses

 

1,925

1,165

 

231,418

159,891

 

7

Loans and borrowings

Note

2024
£

2023
£

Current loans and borrowings

Other borrowings

8

696

384

 

Bowerbird Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

 

8

Related party transactions

Summary of transactions with other related parties

At 29 February 2024, the company owed £152,028 (2023: £148,425) to Alpha Stanway Finance Limited, a company which owns 75% of the shares in this company. No interest was charged on this balance and there are no fixed repayment terms.

At 29 February 2024, the company owed £453 to JMKA Investments 1LP (2023: £266), an associated company connected through the director. No interest was charged on this balance and there are no fixed repayment terms.

At 29 February 2024, the company owed £696 (2023: £384) to its directors. No interest was charged on this balance and there are no fixed repayment terms.

 

 

9

Parent and ultimate parent undertaking

The company's immediate parent is Alpha Stanway Finance Ltd, incorporated in England and Wales.