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Registration number: 13380323

Bower HR Consultancy Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Bower HR Consultancy Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Bower HR Consultancy Limited

Company Information

Director

Mrs Serena Jane Bower

Registered office

Hart House Business Centre Kimpton Road
Kimpton Road
Luton
LU2 0LA

Accountants

Re:Accounts Limited
Chartered AccountantsSuite 1C Meadway Court
Meadway Technology Park
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF

 

Bower HR Consultancy Limited

(Registration number: 13380323)
Balance Sheet as at 31 May 2024

Note

31 May
2024
£

31 May
2023
£

Fixed assets

 

Tangible assets

4

481

722

Current assets

 

Debtors

5

4,438

5,721

Cash at bank and in hand

 

42,641

40,512

 

47,079

46,233

Creditors: Amounts falling due within one year

6

(36,951)

(28,996)

Net current assets

 

10,128

17,237

Net assets

 

10,609

17,959

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

10,509

17,859

Shareholders' funds

 

10,609

17,959

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 February 2025
 

.........................................
Mrs Serena Jane Bower
Director

 

Bower HR Consultancy Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Walees.

The address of its registered office is:
Hart House Business Centre Kimpton Road
Kimpton Road
Luton
LU2 0LA
England

These financial statements were authorised for issue by the director on 12 February 2025.

2

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 provision of human resource 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.

 

Bower HR Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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.

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

Computer equipment

25% straight line

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

 

Bower HR Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Bower HR Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

963

963

At 31 May 2024

963

963

Depreciation

At 1 June 2023

241

241

Charge for the year

241

241

At 31 May 2024

482

482

Carrying amount

At 31 May 2024

481

481

At 31 May 2023

722

722

5

Debtors

Current

31 May
2024
£

31 May
2023
£

Trade debtors

319

2,255

Prepayments

1,388

373

Other debtors

2,731

3,093

 

4,438

5,721

6

Creditors

Creditors: amounts falling due within one year

 

Bower HR Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

6

Creditors (continued)

Note

31 May
2024
£

31 May
2023
£

Due within one year

 

Loans and borrowings

8

4,152

245

Trade creditors

 

756

156

Taxation and social security

 

4,444

7,017

Accruals and deferred income

 

-

3,378

Other creditors

 

27,599

18,200

 

36,951

28,996

7

Share capital

Allotted, called up and fully paid shares

31 May
2024

31 May
2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Bower HR Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

8

Loans and borrowings

Current loans and borrowings

31 May
2024
£

31 May
2023
£

Bank borrowings

4,152

-

Bank overdrafts

-

245

4,152

245

9

Dividends

Final dividends paid

31 May
2024
£

31 May
2023
£

Final dividend of 100.00 (2023 - 130.00) per each Ordinary

10,000

13,000

 

 

Interim dividends paid

31 May
2024
£

31 May
2023
£

Interim dividend of £160.00 (2023 - £Nil) per each Ordinary

16,000

-

 

 

10

Related party transactions

Included within creditors at the year end was £27,598 (2023: £18,200) owed to the director. The loan was interest free with no fixed date for repayment.The director confirms that she will not remove the loan if the company requires it to continue trading.

During the year advances totalling £45,255 (2023; £Nil) were made to the director and these were fully repaid by the year end. The director paid interest of £334 (2023; £Nil) to the company for the use of the beneficial loan.

 

Bower HR Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

10

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

11,976

12,430