REGISTERED NUMBER: 07888332 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

RICHARD BOWNESS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Bowness

Mrs H E Bowness

REGISTERED OFFICE:

Colwith Orchard

Little Langdale

Ambleside

Cumbria

LA22 9NU

REGISTERED NUMBER:

07888332 (England and Wales)

ACCOUNTANTS:

Ainsworths Limited

Chartered Accountants

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

FIXED ASSETS

Intangible assets

4

5,065

8,353

Tangible assets

5

6,554

8,398

11,619

16,751

CURRENT ASSETS

Stocks

28,500

29,995

Debtors

6

2,821

3,613

Cash at bank

11,940

6,845

43,261

40,453

CREDITORS

Amounts falling due within one year

7

2,830

1,450

NET CURRENT ASSETS

40,431

39,003

TOTAL ASSETS LESS CURRENT LIABILITIES

52,050

55,754

CREDITORS

Amounts falling due after more than one year

8

470,594

465,594

NET LIABILITIES

(418,544

)

(409,840

)

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

(418,645

)

(409,941

)

SHAREHOLDERS' FUNDS

(418,544

)

(409,840

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 26th September 2025 and were signed on its behalf by:

R Bowness - Director

1.	STATUTORY INFORMATION

Richard Bowness Limited is a private company, limited by shares , registered in England and Wales. 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.

The financial statements have been prepared on a going concern basis which assumes that the company will be able to meet its liabilities as they fall due. The directors have confirmed that they will provide support for at least 12 months following the approval of these financial statements.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Product development costs

Costs incurred in the development of products are capitalised as an intangible asset and are amortised over their estimated useful life of ten years, on a straight line basis from the date that benefits were first derived from the product.

Website development costs

Website development costs are capitalised as an intangible asset and are amortised over their estimated useful life of three years, on a straight line basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to leasehold property

-

100% on cost

Plant and vehicles

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Tooling equipment

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Product

Website

development

development

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

98,853

19,344

118,197

AMORTISATION

At 1st January 2024

90,500

19,344

109,844

Amortisation for year

3,288

-

3,288

At 31st December 2024

93,788

19,344

113,132

NET BOOK VALUE

At 31st December 2024

5,065

-

5,065

At 31st December 2023

8,353

-

8,353

5.	TANGIBLE FIXED ASSETS

Improvements

to

Fixtures

leasehold

Plant and

and

property

vehicles

fittings

£

£

£

COST

At 1st January 2024

and 31st December 2024

6,653

51,145

1,042

DEPRECIATION

At 1st January 2024

6,653

46,975

827

Charge for year

-

835

32

At 31st December 2024

6,653

47,810

859

NET BOOK VALUE

At 31st December 2024

-

3,335

183

At 31st December 2023

-

4,170

215

Tooling

Computer

equipment

equipment

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

37,890

1,769

98,499

DEPRECIATION

At 1st January 2024

34,291

1,355

90,101

Charge for year

718

259

1,844

At 31st December 2024

35,009

1,614

91,945

NET BOOK VALUE

At 31st December 2024

2,881

155

6,554

At 31st December 2023

3,599

414

8,398

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

188

1,146

Other debtors

2,633

2,467

2,821

3,613

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

283

-

Taxation and social security

1,097

-

Other creditors

1,450

1,450

2,830

1,450

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

470,594

465,594