REGISTERED NUMBER: SC224121 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

BOWDEN DEVELOPMENTS LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Chartered Accountants' Report

8

DIRECTORS:

Mr M Bowden

Mrs E Bowden

Mr F A W Bowden

SECRETARY:

Mr F A W Bowden

REGISTERED OFFICE:

4 West Craibstone Street

Bon-Accord Square

ABERDEEN

AB11 6YL

REGISTERED NUMBER:

SC224121 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

Chartered Accountants

4 West Craibstone Street

Bon-Accord Square

ABERDEEN

AB11 6YL

FIXED ASSETS

Tangible assets

4

995

4,849

Investment property

5

1,690,840

1,690,840

1,691,835

1,695,689

CURRENT ASSETS

Debtors

6

25,916

25,882

Cash at bank

68,791

101,203

94,707

127,085

CREDITORS

Amounts falling due within one year

7

283,993

292,307

NET CURRENT LIABILITIES

(189,286

)

(165,222

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,502,549

1,530,467

CREDITORS

Amounts falling due after more than one year

8

(80,948

)

(113,644

)

PROVISIONS FOR LIABILITIES

(234,208

)

(234,941

)

NET ASSETS

1,187,393

1,181,882

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

10

997,661

997,661

Retained earnings

189,730

184,219

SHAREHOLDERS' FUNDS

1,187,393

1,181,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

Mr M Bowden - Director

Mrs E Bowden - Director

1.	STATUTORY INFORMATION

Bowden Developments Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the rendering of services.

Rendering of Services

Revenue is recognised in the accounting period in which the services are rendered when the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rental Income

Rental income from investment properties is recognised on a straight line basis over the term of the relevant lease. Rental income is included in other operating income.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on cost

Investment property

Investment properties are included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2023

and 30 September 2024

374,684

DEPRECIATION

At 1 October 2023

369,835

Charge for year

3,854

At 30 September 2024

373,689

NET BOOK VALUE

At 30 September 2024

995

At 30 September 2023

4,849

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2023

and 30 September 2024

24,934

DEPRECIATION

At 1 October 2023

21,685

Charge for year

3,249

At 30 September 2024

24,934

NET BOOK VALUE

At 30 September 2024

-

At 30 September 2023

3,249

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

and 30 September 2024

1,690,840

NET BOOK VALUE

At 30 September 2024

1,690,840

At 30 September 2023

1,690,840

Fair value at 30 September 2024 is represented by:

£

Valuation in 2009

744,755

Valuation in 2012

115,000

Valuation in 2013

56,830

Cost

774,255

1,690,840

If investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

774,255

774,255

Investment properties were valued on an open market basis on 30 September 2024 by a director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

25,916

25,882

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

28,639

26,784

Hire purchase contracts

3,312

4,968

Trade creditors

188

3,909

Taxation and social security

12,623

11,815

Other creditors

239,231

244,831

283,993

292,307

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

80,948

110,332

Hire purchase contracts

-

3,312

80,948

113,644

2024

2023

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

15,140

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

109,587

137,116

Hire purchase contracts

3,312

8,280

112,899

145,396

The Bank of Scotland term loan is secured over the properties at 15 Bon Accord Square and Union Terrace together with a bond and floating charge over the remaining assets of the company. The loan is partly secured by a personal guarantees from directors totalling £230,000.

The Bounce Back Loan is guaranteed by the UK Government Bounce Back Loan Scheme.

Net obligations under hire purchase contracts are secured on the assets acquired.

10.

RESERVES

Fair

value

reserve

£

At 1 October 2023

and 30 September 2024

997,661

Fair Value Reserve

This reserve reflects cumulative revaluations of investment property (less provision for deferred tax).

These gains or losses are non-distributable.

11.	RELATED PARTY DISCLOSURES

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bowden Developments Ltd for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Bowden Developments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bowden Developments Ltd and state those matters that we have agreed to state to the Board of Directors of Bowden Developments Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bowden Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bowden Developments Ltd. You consider that Bowden Developments 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 financial statements of Bowden Developments 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 financial statements.

Bain Henry Reid

Chartered Accountants

4 West Craibstone Street

Bon-Accord Square

ABERDEEN

AB11 6YL

9 September 2025