Bowles and Walker Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04352930

Bowles and Walker Ltd

Unaudited financial statements

30 December 2024

Bowles and Walker Ltd

Statement of financial position

30 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	6	218,171	155,898
Investments	7	260	260
		---------	---------
		218,431	156,158

Current assets

Stocks		119,818	108,951
Debtors	8	206,694	208,390
Cash at bank and in hand		22,276	27,931
		---------	---------
		348,788	345,272

Creditors: Amounts falling due within one year	9	( 491,148)		( 380,095)
		---------		---------
Net current liabilities			( 142,360)		( 34,823)
			---------		---------
Total assets less current liabilities			76,071		121,335

Creditors: Amounts falling due after more than one year	10		( 9,640)		( 19,062)

Provisions

Taxation including deferred tax	( 15,533)	( 16,650)
	-------	---------
Net assets	50,898	85,623
	-------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	50,798	85,523
	-------	-------
Shareholders funds	50,898	85,623
	-------	-------

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 December 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 .

Bowles and Walker Ltd

Statement of financial position (continued)

30 December 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

A Barwood

Director

Company registration number: 04352930

Bowles and Walker Ltd

Notes to the financial statements

Year ended 30 December 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 5 Breckland Park, Norwich Road, Watton, Norwich, IP25 6UP.

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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.

Income tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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:

Leasehold Improvements	-	10% straight line
Plant and Machinery	-	25% reducing balance
Motor Vehicles	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.

Defined contribution plans

The company makes contributions into the directors' personal pension schemes. Contributions are at the discretion of the directors. The contributions payable are charged to the profit and loss account.

4. Employee numbers

The average number of employees during the year was 25 (2023: 21 ).

5. Intangible assets

	Goodwill
	£
Cost
At 31 December 2023 and 30 December 2024	130,250
	---------
Amortisation
At 31 December 2023 and 30 December 2024	130,250
	---------
Carrying amount
At 30 December 2024	–
	---------
At 30 December 2023	–
	---------

6. Tangible assets

	Leasehold Improve-ments	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 31 December 2023	136,480	75,119	39,178	250,777
Additions	25,846	80,158	–	106,004
	---------	---------	-------	---------
At 30 December 2024	162,326	155,277	39,178	356,781
	---------	---------	-------	---------
Depreciation
At 31 December 2023	25,736	32,685	36,458	94,879
Charge for the year	15,803	27,248	680	43,731
	---------	---------	-------	---------
At 30 December 2024	41,539	59,933	37,138	138,610
	---------	---------	-------	---------
Carrying amount
At 30 December 2024	120,787	95,344	2,040	218,171
	---------	---------	-------	---------
At 30 December 2023	110,744	42,434	2,720	155,898
	---------	---------	-------	---------

7. Investments

	Shares in group undertakings
	£
Cost
At 31 December 2023 and 30 December 2024	260
	----
Impairment
At 31 December 2023 and 30 December 2024	–
	----

Carrying amount
At 30 December 2024	260
	----
At 30 December 2023	260
	----

8. Debtors

	2024	2023
	£	£
Trade debtors	198,717	201,555
Other debtors	7,977	6,835
	---------	---------
	206,694	208,390
	---------	---------

9. Creditors: Amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	9,422	10,035
Trade creditors	93,045	77,761
Amounts owed to group undertakings and undertakings in which the company has a participating interest	287,498	237,634
Social security and other taxes	24,842	18,811
Other creditors	76,341	35,854
	---------	---------
	491,148	380,095
	---------	---------

10. Creditors: Amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	9,640	19,062
	------	-------

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Later than 1 year and not later than 5 years	15,615	15,615
	-------	-------

12. Directors' advances, credits and guarantees

Included in other debtors is an amount due from the directors of £Nil (2023: £58). The maximum amount overdrawn was £490 and the loan is interest free.