3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06826088 2023-07-01 2024-06-30 06826088 2024-06-30 06826088 2023-06-30 06826088 2022-07-01 2023-06-30 06826088 2023-06-30 06826088 2022-06-30 06826088 core:FurnitureFittings 2023-07-01 2024-06-30 06826088 core:MotorVehicles 2023-07-01 2024-06-30 06826088 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 06826088 bus:Director1 2023-07-01 2024-06-30 06826088 bus:Director2 2023-07-01 2024-06-30 06826088 core:FurnitureFittings 2023-06-30 06826088 core:MotorVehicles 2023-06-30 06826088 core:FurnitureFittings 2024-06-30 06826088 core:MotorVehicles 2024-06-30 06826088 core:WithinOneYear 2024-06-30 06826088 core:WithinOneYear 2023-06-30 06826088 core:ShareCapital 2024-06-30 06826088 core:ShareCapital 2023-06-30 06826088 core:RetainedEarningsAccumulatedLosses 2024-06-30 06826088 core:RetainedEarningsAccumulatedLosses 2023-06-30 06826088 core:FurnitureFittings 2023-06-30 06826088 core:MotorVehicles 2023-06-30 06826088 bus:SmallEntities 2023-07-01 2024-06-30 06826088 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06826088 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06826088 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06826088 bus:FullAccounts 2023-07-01 2024-06-30 06826088 bus:OrdinaryShareClass1 2024-06-30 06826088 bus:OrdinaryShareClass1 2023-06-30 06826088 core:ComputerEquipment 2023-07-01 2024-06-30 06826088 core:ComputerEquipment 2024-06-30 06826088 core:ComputerEquipment 2023-06-30 06826088 core:KeyManagementPersonnel 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 06826088
BOW SPORTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
BOW SPORTS LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
3,435
4,725
CURRENT ASSETS
Stocks
50,000
55,000
Debtors
6
4,388
6,593
Cash at bank and in hand
469,330
441,099
---------
---------
523,718
502,692
CREDITORS: amounts falling due within one year
7
38,721
40,303
---------
---------
NET CURRENT ASSETS
484,997
462,389
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
488,432
467,114
---------
---------
NET ASSETS
488,432
467,114
---------
---------
CAPITAL AND RESERVES
Called up share capital
8
2
2
Profit and loss account
488,430
467,112
---------
---------
SHAREHOLDERS FUNDS
488,432
467,114
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BOW SPORTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 18 March 2025 , and are signed on behalf of the board by:
Mrs C Aston
Mr N R Aston
Director
Director
Company registration number: 06826088
BOW SPORTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 30 June 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Calibre Park, Four Ashes, Wolverhampton, West Midlands, WV10 7DZ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
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 entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2023: 4 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost
At 1 July 2023 and 30 June 2024
23,013
13,850
16,814
53,677
--------
--------
--------
--------
Depreciation
At 1 July 2023
20,494
12,191
16,267
48,952
Charge for the year
693
415
182
1,290
--------
--------
--------
--------
At 30 June 2024
21,187
12,606
16,449
50,242
--------
--------
--------
--------
Carrying amount
At 30 June 2024
1,826
1,244
365
3,435
--------
--------
--------
--------
At 30 June 2023
2,519
1,659
547
4,725
--------
--------
--------
--------
6. DEBTORS
2024
2023
£
£
Trade debtors
1,500
1,500
Other debtors
2,888
5,093
-------
-------
4,388
6,593
-------
-------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
12,875
14,290
Social security and other taxes
3,852
1,838
Other creditors
21,994
24,175
--------
--------
38,721
40,303
--------
--------
8. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
9. RELATED PARTY TRANSACTIONS
During the year the company occupied premises owned by the directors rent free. In the previous year rent was paid of £12,000 which was below market value.