Company registration number 10176640 (England and Wales)
BOWLAND SPECIALITY FOODS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
BOWLAND SPECIALITY FOODS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BOWLAND SPECIALITY FOODS LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
43,703
43,703
Creditors: amounts falling due within one year
4
(191,958)
(191,958)
Net current liabilities
(148,255)
(148,255)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(148,256)
(148,256)
Total equity
(148,255)
(148,255)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 27 February 2025
Mr J P Warburton
Director
Company registration number 10176640 (England and Wales)
BOWLAND SPECIALITY FOODS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

Bowland Speciality Foods Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Emporium, Moor Lane, Clitheroe, BB7 1BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is part of a group as detailed in note 6.true

 

The directors have prepared group detailed forecasts including cashflow projections which indicated that the group will have sufficient funds to meet liabilities as they fall due for the foreseeable future.  The group breached its financial covenants in the year but  this breach was waived, and on 8 October 2024 the covenants were amended.

 

After considering the impact of the above, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

BOWLAND SPECIALITY FOODS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include other debtors and amounts owed by fellow group companies, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including other creditors, loans, overdrafts and amounts due from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
43,703
43,703
BOWLAND SPECIALITY FOODS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
191,958
191,958
5
Financial commitments, guarantees and contingent liabilities

There is an unlimited intercompany guarantee dated 2 October 2023 given by Bowland Inns & Hotels Limited, Cafe Emporia Limited, Waddington Arms Limited, Emporia Limited, The Shop at the Emporium Limited, Emporia (Kirkby Lonsdale) Limited, Eaves Hall Hotel Limited, The Shireburn Arms Limited, James' Places (Northwest) Limited, The Falcon Manor Hotel Limited, Bowland Beer Hall Limited, Bowland Speciality Foods Limited, Spinning Block Ltd, Bowland Gym, Pool & Spa Limited and Bowland Food Hall Limited. These are all companies from the same group.

 

The company has entered into a cross company guarantee relating to a loan. The guarantee to which this company was party to at the year end totalled £23,434,886 (2023: £17,379,310) of which £Nil was included in the balance sheet of this company.

6
Parent company

Bowland Inns & Hotels Limited is the immediate and ultimate parent company, and is the only company for which consolidated accounts including Bowland Speciality Foods Limited are prepared. The consolidated accounts for Bowland Inns & Hotels Limited are available from its registered office, The Emporium, Moor Lane, Clitheroe, Lancashire, BB7 1BE.

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