REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 APRIL 2024 |
FOR |
BOWEN HOMES LTD LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 APRIL 2024 |
FOR |
BOWEN HOMES LTD LIMITED |
BOWEN HOMES LTD LIMITED (REGISTERED NUMBER: 05427989) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BOWEN HOMES LTD LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 APRIL 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Sutherland House |
1759 London Road |
Leigh on Sea |
Essex |
SS9 2RZ |
BOWEN HOMES LTD LIMITED (REGISTERED NUMBER: 05427989) |
BALANCE SHEET |
29 APRIL 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non Distributable Reserves |
Retained earnings |
The director acknowledges her 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. |
BOWEN HOMES LTD LIMITED (REGISTERED NUMBER: 05427989) |
BALANCE SHEET - continued |
29 APRIL 2024 |
The financial statements were approved by the director and authorised for issue on |
BOWEN HOMES LTD LIMITED (REGISTERED NUMBER: 05427989) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 APRIL 2024 |
1. | STATUTORY INFORMATION |
Bowen Homes Ltd Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - |
BOWEN HOMES LTD LIMITED (REGISTERED NUMBER: 05427989) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 APRIL 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 31 October 2022 |
and 29 April 2024 |
DEPRECIATION |
At 31 October 2022 |
Charge for period |
At 29 April 2024 |
NET BOOK VALUE |
At 29 April 2024 |
At 30 October 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 October 2022 |
and 29 April 2024 |
NET BOOK VALUE |
At 29 April 2024 |
At 30 October 2022 |
Fair value at 29 April 2024 is represented by: |
£ |
Valuation in 2022 | 7,950,000 |
If investment property had not been revalued, it would have been included at the historical cost of £5,157,654. |
The investment properties were valued on an open market basis at the year end, by the Director. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
BOWEN HOMES LTD LIMITED (REGISTERED NUMBER: 05427989) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 APRIL 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | SECURED DEBTS |
Recognise Bank Ltd holds fixed and floating charges against Bowen Homes Ltd Limited (dated 22nd December 2023), as continuing security for the payment and discharge of all secured liabilities. Security is held against all freehold and leasehold property (including all buildings and fixtures, plant and machinery). The charges include a negative pledge. |
9. | RELATED PARTY DISCLOSURES |
The loan advanced to the company by the Director, has been provided interest free. The balance owed to the Director at the year end was £963,978 (2022 - £139,902). |