1 1 Bowburn North Limited 09734031 false 2023-07-01 2024-03-31 2024-03-31 The principal activity of the company is is that of a property development and investment company Digita Accounts Production Advanced 6.30.9574.0 true 09734031 2023-07-01 2024-03-31 09734031 2024-03-31 09734031 bus:OrdinaryShareClass1 2024-03-31 09734031 core:RetainedEarningsAccumulatedLosses 2024-03-31 09734031 core:ShareCapital 2024-03-31 09734031 core:CurrentFinancialInstruments 2024-03-31 09734031 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09734031 bus:SmallEntities 2023-07-01 2024-03-31 09734031 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-03-31 09734031 bus:FilletedAccounts 2023-07-01 2024-03-31 09734031 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-03-31 09734031 bus:RegisteredOffice 2023-07-01 2024-03-31 09734031 bus:Director1 2023-07-01 2024-03-31 09734031 bus:OrdinaryShareClass1 2023-07-01 2024-03-31 09734031 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-03-31 09734031 bus:Agent1 2023-07-01 2024-03-31 09734031 countries:England 2023-07-01 2024-03-31 09734031 2023-06-30 09734031 2022-07-01 2023-06-30 09734031 2023-06-30 09734031 bus:OrdinaryShareClass1 2023-06-30 09734031 core:RetainedEarningsAccumulatedLosses 2023-06-30 09734031 core:ShareCapital 2023-06-30 09734031 core:CurrentFinancialInstruments 2023-06-30 09734031 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 09734031

Bowburn North Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2023 to 31 March 2024

 

Bowburn North Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Bowburn North Limited

Company Information

Director

A J Ward

Registered office

Durham Workspace
Abbey Road
Pity Me
Durham
DH1 5JZ

Accountants

EHT Tax Accountants Limited
Chartered Accountants63 Harvey Avenue
Durham
DH1 5ZB

 

Bowburn North Limited

(Registration number: 09734031)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

2,430,895

2,430,895

Current assets

 

Debtors

5

283,682

112,374

Cash at bank and in hand

 

162,805

-

 

446,487

112,374

Creditors: Amounts falling due within one year

6

(1,670,007)

(1,497,679)

Net current liabilities

 

(1,223,520)

(1,385,305)

Net assets

 

1,207,375

1,045,590

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

1,207,373

1,045,588

Shareholders' funds

 

1,207,375

1,045,590

For the financial period ending 31 March 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 period in question in accordance with section 476; and

The director acknowledges his 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 26 February 2025
 

.........................................
A J Ward
Director

 

Bowburn North Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

1

General information

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

The address of its registered office is:
Durham Workspace
Abbey Road
Pity Me
Durham
DH1 5JZ
England

These financial statements were authorised for issue by the director on 26 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.

Group accounts not prepared

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is a subsidiary qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable from rental income in the normal course of business, and is shown net of VAT and other sales related taxes. Rental income receivable under operating leases is accrued on a straight line basis over the lease term.

 

Bowburn North Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 tenants for rents receivable 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.

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.

 

Bowburn North Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024 (continued)

3

Staff numbers

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

4

Investment properties

2024
£

At 1 July

2,430,895

At 31 March

2,430,895

In the opinion of the directors there has been no material movement in the fair value of the company's investment property during the year.
There has been no valuation of investment property by an independent valuer

5

Debtors

Current

2024
£

2023
£

Trade debtors

58,822

112,374

Other debtors

224,860

-

 

283,682

112,374

 

Bowburn North Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

82,422

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,272,487

-

Taxation and social security

 

63,890

72,253

Accruals and deferred income

 

98,743

99,177

Other creditors

 

152,465

1,326,249

 

1,670,007

1,497,679

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2