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COMPANY REGISTRATION NUMBER: NI055212
David J Bowman & Associates Limited
Unaudited Financial Statements
31 July 2024
David J Bowman & Associates Limited
Financial Statements
Year ended 31 July 2024
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
David J Bowman & Associates Limited
Director's Report
Year ended 31 July 2024
The director presents his report and the unaudited financial statements of the company for the year ended 31 July 2024 .
Director
The director who served the company during the year was as follows:
Mr.D.J. Bowman
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 22 January 2025 and signed on behalf of the board by:
Mr.D.J. Bowman
Director
Registered office:
39 Knockgreenan Avenue
Omagh
Co.Tyrone
N.Ireland
BT79 0EB
David J Bowman & Associates Limited
Statement of Income and Retained Earnings
Year ended 31 July 2024
2024
2023
Note
£
£
Turnover
22,916
31,150
Cost of sales
970
1,333
--------
--------
Gross profit
21,946
29,817
Administrative expenses
19,903
19,714
--------
--------
Operating profit
2,043
10,103
--------
--------
Profit before taxation
2,043
10,103
Tax on profit
388
1,920
-------
--------
Profit for the financial year and total comprehensive income
1,655
8,183
-------
--------
Dividends paid and payable
10,000
( 25,000)
Retained earnings at the start of the year
1,542
18,359
--------
--------
Retained earnings at the end of the year
13,197
1,542
--------
--------
All the activities of the company are from continuing operations.
David J Bowman & Associates Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Current assets
Cash at bank and in hand
15,880
10,147
Creditors: amounts falling due within one year
5
683
6,605
--------
--------
Net current assets
15,197
3,542
--------
-------
Total assets less current liabilities
15,197
3,542
--------
-------
Net assets
15,197
3,542
--------
-------
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss account
13,197
1,542
--------
-------
Shareholders funds
15,197
3,542
--------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 January 2025 , and are signed on behalf of the board by:
Mr.D.J. Bowman
Director
Company registration number: NI055212
David J Bowman & Associates Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in N.Ireland. The address of the registered office is 39 Knockgreenan Avenue, Omagh, Co.Tyrone, BT79 0EB, N.Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
389
1,919
Other creditors
294
4,686
----
-------
683
6,605
----
-------
6. Related party transactions
The company was under the control of Mr Bowman and members of his close family throughout the current and previous year. Mr Bowman is the managing director. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.