Company registration number 11551325 (England and Wales)
BOWEN JAMES LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BOWEN JAMES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BOWEN JAMES LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
832
1,999
Current assets
Stocks
-
10,177
Debtors
4
48,103
6,253
Cash at bank and in hand
21,318
12,559
69,421
28,989
Creditors: amounts falling due within one year
5
(41,066)
(50,331)
Net current assets/(liabilities)
28,355
(21,342)
Total assets less current liabilities
29,187
(19,343)
Creditors: amounts falling due after more than one year
6
(4,000)
(10,000)
Provisions for liabilities
(208)
-
0
Net assets/(liabilities)
24,979
(29,343)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
24,978
(29,344)
Total equity
24,979
(29,343)

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 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 30 April 2025
Mr M Stewart-Woods
Director
Company Registration No. 11551325
BOWEN JAMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Bowen James Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Westfield Villa, Westfield Road, Monmouth, NP25 3HX.

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
Turnover

Turnover represents amounts receivable for services provided in the normal course of business net of VAT and trade discount. Revenue from the services is recognised over the period and to the extent that the company obtains the rights to consideration in exchange for service provided.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% on cost
Computers
15% on cost
Motor vehicles
25% on cost
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

BOWEN JAMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
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 in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

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
2
BOWEN JAMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023 and 30 September 2024
1,746
1,113
7,105
9,964
Depreciation and impairment
At 1 October 2023
960
638
6,367
7,965
Depreciation charged in the year
262
167
738
1,167
At 30 September 2024
1,222
805
7,105
9,132
Carrying amount
At 30 September 2024
524
308
-
0
832
At 30 September 2023
786
475
738
1,999
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,103
4,249
Corporation tax recoverable
-
0
183
Other debtors
45,000
1,821
48,103
6,253
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
6,000
6,000
Trade creditors
2,891
9,282
Corporation tax
5,645
-
0
Other taxation and social security
6,894
5,795
Other creditors
19,636
29,254
41,066
50,331
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,000
10,000
BOWEN JAMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
8
Directors' transactions

The director operates a current loan account which is credited with payments made by the director and any cash introduced and debited with private expenses and cash drawn. At the year end, the amount outstanding to the director was £534 (2023 - £23,813); included in creditors: amount falling due within one year.

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