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REGISTRAR OF COMPANIES

Registration number: 03843466

Bowscar Investments Ltd

Unaudited Financial Statements

30 September 2024

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Bowscar Investments Ltd

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bowscar Investments Ltd
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bowscar Investments Ltd for the year ended 30 September 2024 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Bowscar Investments Ltd, as a body, in accordance with the terms of our engagement letter dated 21 April 2022. Our work has been undertaken solely to prepare for your approval the accounts of Bowscar Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Bowscar Investments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bowscar Investments Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bowscar Investments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bowscar Investments Ltd. You consider that Bowscar Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Bowscar Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

24 June 2025

 

Bowscar Investments Ltd

(Registration number: 03843466)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

116

1,071

Investment property

5

1,247,086

890,396

 

1,247,202

891,467

Current assets

 

Debtors

6

133

622,858

Cash at bank and in hand

 

283,399

3,242

 

283,532

626,100

Creditors: Amounts falling due within one year

7

(55,833)

(7,293)

Net current assets

 

227,699

618,807

Total assets less current liabilities

 

1,474,901

1,510,274

Provisions for liabilities

(22)

(16,266)

Net assets

 

1,474,879

1,494,008

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Non-distributable reserve

179,148

179,148

Profit and loss account

1,295,631

1,314,760

Total equity

 

1,474,879

1,494,008

 

Bowscar Investments Ltd

(Registration number: 03843466)
Balance Sheet as at 30 September 2024 (continued)

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 June 2025 and signed on its behalf by:
 

.........................................

W N Boustead

Company secretary and director

.........................................

P A Boustead

Director

 

Bowscar Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Bowscar Farmhouse
Bowscar
PENRITH
CA11 8RY

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Reclassification of comparative amounts

In accordance with the principal activity of the company, rental income in the prior period has been reclassified from other operating income to turnover. There was no impact on the profit for the year.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

Bowscar Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and office equipment

33% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors 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 customers for the sale of goods or services performed 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. Trade creditors 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 where due after more than one year.

 

Bowscar Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Bowscar Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Tangible assets

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 October 2023

6,548

6,548

At 30 September 2024

6,548

6,548

Depreciation

At 1 October 2023

5,477

5,477

Charge for the year

955

955

At 30 September 2024

6,432

6,432

Carrying amount

At 30 September 2024

116

116

At 30 September 2023

1,071

1,071

5

Investment properties

£

At 1 October 2023

890,396

Additions

356,690

At 30 September 2024

1,247,086

There has been no valuation of investment property by an independent valuer. The fair value of £1,247,086 was determined by the directors.

6

Debtors

2024
£

2023
£

Other debtors

133

622,858

133

622,858

 

Bowscar Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

44,715

-

Corporation tax liability

 

6,001

4,543

Other creditors

 

5,117

2,750

 

55,833

7,293

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

44,715

-

9

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 30 September 2024
£

W N Boustead

Loan

307,051

37,743

(322,803)

-

(24,000)

2,009

-

               
         

P A Boustead

Loan

307,050

37,743

(322,803)

-

(24,000)

2,010

-

               
         

 

2023

At 1 October 2022
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 30 September 2023
£

W N Boustead

Loan

251,124

585,016

(498,127)

-

(37,500)

6,538

307,051

               
         

P A Boustead

Loan

251,124

585,016

(498,127)

-

(37,500)

6,537

307,050

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2% to 5 April 2023 and at 2.25% thereafter on advances to directors.