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Company Registration No. 08305914 (England and Wales)
Bowden Financial Planning Ltd Unaudited accounts for the year ended 29 February 2024
Bowden Financial Planning Ltd Unaudited accounts Contents
Page
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Bowden Financial Planning Ltd Company Information for the year ended 29 February 2024
Director
Robert John Bowden
Company Number
08305914 (England and Wales)
Registered Office
Bowden Financial Planning Ltd 20 Wynnstay Road COLWYN BAY Clwyd LL29 8NF Wales
Accountants
Power Accountants, Business and Tax Advisors Limited Royal House, 14 Upper Northgate Street Chester CH1 4EE
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Bowden Financial Planning Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,963 
8,623 
Current assets
Debtors
125,865 
143,402 
Cash at bank and in hand
67,562 
65,712 
193,427 
209,114 
Creditors: amounts falling due within one year
(26,482)
(26,609)
Net current assets
166,945 
182,505 
Total assets less current liabilities
173,908 
191,128 
Creditors: amounts falling due after more than one year
(7,783)
(13,869)
Provisions for liabilities
Deferred tax
(1,323)
(1,369)
Net assets
164,802 
175,890 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
164,702 
175,790 
Shareholders' funds
164,802 
175,890 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 October 2024 and were signed on its behalf by
Robert John Bowden Director Company Registration No. 08305914
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Bowden Financial Planning Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Bowden Financial Planning Ltd is a private company, limited by shares, registered in England and Wales, registration number 08305914. The registered office is Bowden Financial Planning Ltd, 20 Wynnstay Road , COLWYN BAY, Clwyd, LL29 8NF, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A"Small Entities “of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Computer equipment
25% Reducing Balance
Other tangible fixed assets
25% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Income recognition
Income is recognised when it is earned, which is generally when services are delivered to the customer and the amount of revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, net of any VAT, discounts, rebates, or returns.
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Bowden Financial Planning Ltd Notes to the Accounts for the year ended 29 February 2024
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
10,000 
At 29 February 2024
10,000 
Amortisation
At 1 March 2023
10,000 
At 29 February 2024
10,000 
Net book value
At 29 February 2024
- 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2023
20,685 
Additions
662 
At 29 February 2024
21,347 
Depreciation
At 1 March 2023
12,062 
Charge for the year
2,322 
At 29 February 2024
14,384 
Net book value
At 29 February 2024
6,963 
At 28 February 2023
8,623 
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Bowden Financial Planning Ltd Notes to the Accounts for the year ended 29 February 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
42 
- 
Accrued income and prepayments
35,000 
29,038 
Other debtors
90,823 
114,364 
125,865 
143,402 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,086 
6,086 
Trade creditors
598 
372 
Taxes and social security
19,798 
19,564 
Other creditors
- 
587 
26,482 
26,609 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
7,783 
13,869 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Robert John Bowden
Directors Loan Account
94,675 
- 
- 
94,675 
94,675 
- 
- 
94,675 
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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