Registered number: 11321338
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JF Bowers Family Investments Ltd
Financial statements
Information for filing with the registrar
31 March 2024
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JF Bowers Family Investments Ltd
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Balance sheet
At 31 March 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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1
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JF Bowers Family Investments Ltd
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Balance sheet (continued)
At 31 March 2024
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 February 2025.
Womble Bond Dickinson (Trust Corporation) Limited
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Registered number: 11321338
The notes on pages 3 to 5 form part of these financial statements.
2
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JF Bowers Family Investments Ltd
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Notes to the financial statements
Year ended 31 March 2024
The company is a private company limited by shares, incorporated and domiciled in the United Kingdom. The registered office is The Spark, Draymans Way, Newcastle upon Tyne, NE4 5DE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
3
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JF Bowers Family Investments Ltd
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Notes to the financial statements
Year ended 31 March 2024
2.Accounting policies (continued)
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 4 (2023 - 4).
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Other fixed asset investments
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Amounts owed by related parties
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Other debtors (incl directors loans)
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4
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JF Bowers Family Investments Ltd
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Notes to the financial statements
Year ended 31 March 2024
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Creditors: amounts falling due within one year
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Amounts owed to related parties
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Other taxation and social security
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Other creditors (incl directors loans)
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Accruals and deferred income
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Related party transactions
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During the year, the company used a loan account to record amounts due to and from the directors. At the year end, the net balance owed by the company to the directors was £4,982,611 (2023 - £10,492,611). This loan is unsecured, interest free and no fixed terms of repayment have been agreed.
During the year, the company used a loan account to record amounts due to and (from) associated companies. At the year end, the following balances were owed by the company. The loans are unsecured, and no fixed terms of repayment have been agreed. The loans are interest free with the exception of the loan to Bowers & Norman Ltd.
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Cressbrook Developments Ltd
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Bowers Family Properties Ltd
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5
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