Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mrs S Gray 09/04/2008 Mr A Pickles 09/04/2008 Miss L M Pickles 21/11/2016 09 January 2025 The principal activity of the Company during the financial year was the operation of a public house. 06559924 2024-04-30 06559924 bus:Director1 2024-04-30 06559924 bus:Director2 2024-04-30 06559924 bus:Director3 2024-04-30 06559924 2023-04-30 06559924 core:CurrentFinancialInstruments 2024-04-30 06559924 core:CurrentFinancialInstruments 2023-04-30 06559924 core:Non-currentFinancialInstruments 2024-04-30 06559924 core:Non-currentFinancialInstruments 2023-04-30 06559924 core:ShareCapital 2024-04-30 06559924 core:ShareCapital 2023-04-30 06559924 core:RetainedEarningsAccumulatedLosses 2024-04-30 06559924 core:RetainedEarningsAccumulatedLosses 2023-04-30 06559924 core:Goodwill 2023-04-30 06559924 core:Goodwill 2024-04-30 06559924 core:LeaseholdImprovements 2023-04-30 06559924 core:Vehicles 2023-04-30 06559924 core:FurnitureFittings 2023-04-30 06559924 core:LeaseholdImprovements 2024-04-30 06559924 core:Vehicles 2024-04-30 06559924 core:FurnitureFittings 2024-04-30 06559924 2023-05-01 2024-04-30 06559924 bus:FilletedAccounts 2023-05-01 2024-04-30 06559924 bus:SmallEntities 2023-05-01 2024-04-30 06559924 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06559924 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06559924 bus:Director1 2023-05-01 2024-04-30 06559924 bus:Director2 2023-05-01 2024-04-30 06559924 bus:Director3 2023-05-01 2024-04-30 06559924 core:Goodwill core:TopRangeValue 2023-05-01 2024-04-30 06559924 core:Goodwill 2023-05-01 2024-04-30 06559924 core:LeaseholdImprovements core:TopRangeValue 2023-05-01 2024-04-30 06559924 core:Vehicles 2023-05-01 2024-04-30 06559924 core:FurnitureFittings 2023-05-01 2024-04-30 06559924 2022-05-01 2023-04-30 06559924 core:LeaseholdImprovements 2023-05-01 2024-04-30 06559924 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 06559924 (England and Wales)

BOWGIE INN LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

BOWGIE INN LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

BOWGIE INN LIMITED

BALANCE SHEET

As at 30 April 2024
BOWGIE INN LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 656,938 697,104
656,938 697,104
Current assets
Stocks 5 29,962 31,330
Debtors 6 25,473 26,450
Cash at bank and in hand 42,799 155,997
98,234 213,777
Creditors: amounts falling due within one year 7 ( 359,748) ( 302,625)
Net current liabilities (261,514) (88,848)
Total assets less current liabilities 395,424 608,256
Creditors: amounts falling due after more than one year 8 0 ( 120,000)
Provision for liabilities ( 76,672) ( 84,586)
Net assets 318,752 403,670
Capital and reserves
Called-up share capital 100 100
Profit and loss account 318,652 403,570
Total shareholders' funds 318,752 403,670

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Bowgie Inn Limited (registered number: 06559924) were approved and authorised for issue by the Board of Directors on 09 January 2025. They were signed on its behalf by:

Mrs S Gray
Director
BOWGIE INN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
BOWGIE INN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bowgie Inn Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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 companies activities. Turnover is shown as net of value added tax.

The company recognises revenue at the point of sale in the public bar and restaurant.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 25 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 39 41

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 138,500 138,500
At 30 April 2024 138,500 138,500
Accumulated amortisation
At 01 May 2023 138,500 138,500
At 30 April 2024 138,500 138,500
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 May 2023 436,026 130,222 745,782 1,312,030
Additions 0 0 33,095 33,095
At 30 April 2024 436,026 130,222 778,877 1,345,125
Accumulated depreciation
At 01 May 2023 75,723 89,932 449,271 614,926
Charge for the financial year 17,440 10,073 45,748 73,261
At 30 April 2024 93,163 100,005 495,019 688,187
Net book value
At 30 April 2024 342,863 30,217 283,858 656,938
At 30 April 2023 360,303 40,290 296,511 697,104

5. Stocks

2024 2023
£ £
Stocks 29,962 31,330

6. Debtors

2024 2023
£ £
Other debtors 25,473 26,450

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 42,366 78,859
Trade creditors 91,899 64,285
Other taxation and social security 3,943 19,626
Other creditors 221,540 139,855
359,748 302,625

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 120,000

There are no amounts included above in respect of which any security has been given by the small entity.