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REGISTERED NUMBER: 08610517 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024

FOR

THE BOWERS PARTNERSHIP LIMITED

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 13,589 11,445
Tangible assets 6 7,358 5,063
Investments 7 210,860 224,649
231,807 241,157

CURRENT ASSETS
Debtors 8 651,988 592,494
Cash at bank 618,586 932,947
1,270,574 1,525,441
CREDITORS
Amounts falling due within one year 9 90,005 179,253
NET CURRENT ASSETS 1,180,569 1,346,188
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,412,376

1,587,345

PROVISIONS FOR LIABILITIES 10 3,010 6,393
NET ASSETS 1,409,366 1,580,952

CAPITAL AND RESERVES
Called up share capital 11 2 2
Non-distributable reserve 12 3,509 13,851
Retained earnings 1,405,855 1,567,099
SHAREHOLDERS' FUNDS 1,409,366 1,580,952

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

BALANCE SHEET - continued
31 MARCH 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:





Mrs N Bowers - Director


THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

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


1. STATUTORY INFORMATION

The Bowers Partnership 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: 08610517

Registered office: Pharmacy Chambers
High Street
Wadhurst
East Sussex
TN5 6AP

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about The Bowers Partnership Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of ten years.

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

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


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Equipment - 25% on cost and 20% on cost

All fixed assets are initially recorded at cost.

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

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


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

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


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leases
Rentals payable under operating lease, including any lease incentives received, and charged to profit or loss on a straight line basis over the term of the revenant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases assets are consumed.

Equity instruments
Changes in the fair value of derivatives that are designate and qualify as fair value hedges are recognised in profit and loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

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


5. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 April 2023 16,721
Additions 4,050
At 31 March 2024 20,771
AMORTISATION
At 1 April 2023 5,276
Amortisation for year 1,906
At 31 March 2024 7,182
NET BOOK VALUE
At 31 March 2024 13,589
At 31 March 2023 11,445

Capitalised website development costs incurred in past years, which had previously been classed as equipment, have been reclassified to their own class of intangible asset. Accumulated depreciation brought forward has been recalculated using the website amortisation rate and the surplus depreciation adjusted via the Profit and Loss account.

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

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


6. TANGIBLE FIXED ASSETS
Fixtures
and
fittings Equipment Totals
£    £    £   
COST
At 1 April 2023 9,320 36,385 45,705
Additions 5,945 206 6,151
Disposals - (347 ) (347 )
At 31 March 2024 15,265 36,244 51,509
DEPRECIATION
At 1 April 2023 6,183 34,459 40,642
Charge for year 2,919 937 3,856
Eliminated on disposal - (347 ) (347 )
At 31 March 2024 9,102 35,049 44,151
NET BOOK VALUE
At 31 March 2024 6,163 1,195 7,358
At 31 March 2023 3,137 1,926 5,063

7. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 April 2023 224,649
Additions 4,042
Revaluations (17,831 )
At 31 March 2024 210,860
NET BOOK VALUE
At 31 March 2024 210,860
At 31 March 2023 224,649

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

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


7. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2024 is represented by:

Listed
investments
£   
Valuation in 2020 3,690
Valuation in 2021 19,587
Valuation in 2022 6,994
Valuation in 2023 (4,711 )
Valuation in 2024 (13,789 )
Cost 199,089
210,860

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 58,313 -
Amounts owed by group undertakings 384,378 384,330
Other debtors 6,103 -
Directors' current accounts 127,894 87,970
Prepayments and accrued income 75,300 120,194
651,988 592,494

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 25,613 69,379
Amounts owed to group undertakings 10,642 10,819
Corporation tax 2,543 57,003
PAYE and social security 930 1,668
VAT 9,029 1,203
Other creditors - 1,003
Accruals and deferred income 41,248 38,178
90,005 179,253

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

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


10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,840 1,776
Other timing differences 1,170 4,617
3,010 6,393

Deferred
tax
£   
Balance at 1 April 2023 6,393
Provided during year (3,383 )
Balance at 31 March 2024 3,010

11. CALLED UP SHARE CAPITAL

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

12. RESERVES
Non-distributable
reserve
£   
At 1 April 2023 13,851
Fair value adjustment (10,342 )

At 31 March 2024 3,509

THE BOWERS PARTNERSHIP LIMITED (REGISTERED NUMBER: 08610517)

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


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs N Bowers and Mr L S Bowers
Balance outstanding at start of year 87,970 38,849
Amounts advanced 43,068 52,116
Amounts repaid (3,145 ) (2,995 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 127,893 87,970

During the year, interest of £3,380 (2023: £1,640) was charged on overdrawn directors current account; interest was charged at the official rate of 2.25% (2023: 2%).

14. RELATED PARTY DISCLOSURES

Included in other debtors is a loan balance of £384,378 (2023: £384,330) due from Lionfoxco Limited, a member of the group. The amount is interest free and on demand.

Included in other creditors is a loan balance of £10,642 (2023: £10,819) due to The Bowers Investment Limited, the parent company. The amount is interest free and repayable on demand.

The company paid dividends of £174,860 (2023: £174,860) to the parent company during the year.

The company claimed group relief in respect of losses across the group.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Bowers Investment Company Limited.

16. PARENT COMPANY

The company is a wholly owned subsidiary of The Bowers Investment Company Ltd whose address is Pharmacy Chambers, High Street, Wadhurst, East Sussex, TN5 6AP.