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REGISTERED NUMBER: 06864117 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

The Bowes Museum (Enterprises) Limited

The Bowes Museum (Enterprises) Limited (Registered number: 06864117)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Bowes Museum (Enterprises) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C M Oughtred
D Corbett
J Collingwood





REGISTERED OFFICE: The Bowes Museum
Newgate
BARNARD CASTLE
County Durham
DL12 8NP





REGISTERED NUMBER: 06864117 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

The Bowes Museum (Enterprises) Limited (Registered number: 06864117)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 4 66,191 48,308
Debtors 5 5,662 667
Cash at bank and in hand 379,099 373,280
450,952 422,255
CREDITORS
Amounts falling due within one year 6 48,767 147,072
NET CURRENT ASSETS 402,185 275,183
TOTAL ASSETS LESS CURRENT
LIABILITIES

402,185

275,183

CREDITORS
Amounts falling due after more than one
year

7

402,175

275,173
NET ASSETS 10 10

CAPITAL AND RESERVES
Called up share capital 8 10 10
SHAREHOLDERS' FUNDS 10 10

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:



C M Oughtred - Director


The Bowes Museum (Enterprises) Limited (Registered number: 06864117)

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

1. STATUTORY INFORMATION

The Bowes Museum (Enterprises) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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.

Going concern
The directors assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved.

The directors believe that it is appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements, taking into account the continued support of the parent company, The Bowes Museum, the directors, government and finance providers.

On this basis the directors believe it is appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Turnover is recognised at the point at which the risks and rewards of the goods sold are transferred to the customer and/or services are rendered.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell after making due
allowance for obsolete and slow-moving stocks.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.


The Bowes Museum (Enterprises) Limited (Registered number: 06864117)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Grants
Revenue related grants are credited to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 28 ) .

4. STOCKS
2024 2023
£    £   
Stocks 66,191 48,308

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,597 667
Prepayments and accrued income 2,065 -
5,662 667

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,251 23,004
Taxation and social security - 116,292
Accruals and deferred income 18,516 7,776
48,767 147,072

The Bowes Museum (Enterprises) Limited (Registered number: 06864117)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 402,175 275,173

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

9. ULTIMATE PARENT COMPANY

The Bowes Museum, a charitable company incorporated in England & Wales, is regarded by the directors as being the company's ultimate parent company. The registered office of The Bowes Museum is Newgate, Barnard Castle, County Durham, DL12 8NP.