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Registration number: 10457177

Bowerhouse Bath Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Bowerhouse Bath Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Bowerhouse Bath Ltd

Company Information

Directors

Mrs J Bower

Mrs S Snook

Registered office

4 Bladud Buildings
Bath
BA1 5LS

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Bowerhouse Bath Ltd

(Registration number: 10457177)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

5,722

5,421

Current assets

 

Debtors

4

52,456

65,397

Cash at bank and in hand

 

55,407

32,235

 

107,863

97,632

Creditors: Amounts falling due within one year

5

(99,600)

(69,850)

Net current assets

 

8,263

27,782

Total assets less current liabilities

 

13,985

33,203

Creditors: Amounts falling due after more than one year

5

(13,851)

(23,288)

Net assets

 

134

9,915

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

34

9,815

Shareholders' funds

 

134

9,915

For the financial year ending 31 March 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.

 

Bowerhouse Bath Ltd

(Registration number: 10457177)
Balance Sheet as at 31 March 2024

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 July 2024 and signed on its behalf by:
 

.........................................
Mrs J Bower
Director

 

Bowerhouse Bath Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

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 that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Bowerhouse Bath Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Fixtures and fittings

20 % reducing balance

Office Equipment

20% reducing balance

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 subsequently measured at amortised cost using the effective interest method.

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.

 

Bowerhouse Bath Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 5).

 

Bowerhouse Bath Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

2,269

12,191

14,460

Additions

-

1,164

1,164

At 31 March 2024

2,269

13,355

15,624

Depreciation

At 1 April 2023

-

9,039

9,039

Charge for the year

-

863

863

At 31 March 2024

-

9,902

9,902

Carrying amount

At 31 March 2024

2,269

3,453

5,722

At 31 March 2023

2,269

3,152

5,421

Included within the net book value of land and buildings above is £2,269 (2023 - £2,269) in respect of long leasehold land and buildings.
 

4

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

3,822

4,690

Amounts owed by related parties

8

21,836

42,036

Prepayments

 

19,302

9,935

Other debtors

 

7,496

8,736

   

52,456

65,397

 

Bowerhouse Bath Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

10,222

10,222

Trade creditors

 

27,630

15,034

Taxation and social security

 

58,248

41,038

Accruals and deferred income

 

3,500

3,500

Other creditors

 

-

56

 

99,600

69,850

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

13,851

23,288

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Bowerhouse Bath Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

13,851

23,288

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,222

10,222

8

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

42,036

42,036

Advanced

2,800

2,800

Repaid

(23,000)

(23,000)

At end of period

21,836

21,836

2023

Key management
£

Total
£

At start of period

133,013

133,013

Advanced

21,250

21,250

Repaid

(112,227)

(112,227)

At end of period

42,036

42,036