Registered number
04458290
Philip Bowdidge Accountancy Limited
Filleted Accounts
31 July 2024
Philip Bowdidge Accountancy Limited
Registered number: 04458290
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 28,197 28,925
Current assets
Debtors 4 28,291 67,142
Cash at bank and in hand 212,093 67,567
240,384 134,709
Creditors: amounts falling due within one year 5 (60,884) (45,106)
Net current assets 179,500 89,603
Net assets 207,697 118,528
Capital and reserves
Called up share capital 100 100
Profit and loss account 207,597 118,428
Shareholders' funds 207,697 118,528
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Bowdidge
Director
Approved by the board on 7 November 2024
Philip Bowdidge Accountancy Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 31,691 14,362 46,053
Additions - 428 428
At 31 July 2024 31,691 14,790 46,481
Depreciation
At 1 August 2023 3,731 13,397 17,128
Charge for the year 634 522 1,156
At 31 July 2024 4,365 13,919 18,284
Net book value
At 31 July 2024 27,326 871 28,197
At 31 July 2023 27,960 965 28,925
4 Debtors 2024 2023
£ £
Trade debtors 7,134 8,196
Other debtors 21,157 58,946
28,291 67,142
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 695 13,745
Taxation and social security costs 40,190 31,361
Other creditors 19,999 -
60,884 45,106
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
P Bowdidge
Loan 19,000 - (19,000) -
Y Bowdidge
Loan 19,000 - (19,000) -
38,000 - (38,000) -
7 Controlling party
The company is controlled by P Bowdidge and Y Bowdidge.
8 Other information
Philip Bowdidge Accountancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Ringwood Road
Walkford
Christchurch
Dorset
BH23 5RD
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