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
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
Bowden Financial Planning Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
6,963
8,623
Cash at bank and in hand
67,562
65,712
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
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
Bowden Financial Planning Ltd
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
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.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Bowden Financial Planning Ltd
Notes to the Accounts
for the year ended 29 February 2024
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.
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
At 29 February 2024
10,000
At 29 February 2024
10,000
5
Tangible fixed assets
Plant & machinery
At 29 February 2024
21,347
At 29 February 2024
14,384
Bowden Financial Planning Ltd
Notes to the Accounts
for the year ended 29 February 2024
Amounts falling due within one year
Accrued income and prepayments
35,000
29,038
Other debtors
90,823
114,364
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,086
6,086
Taxes and social security
19,798
19,564
8
Creditors: amounts falling due after more than one year
2024
2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
94,675
-
-
94,675
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).