B.O.W. Drywall Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

Registered number: 04698930

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		99,507		106,416

			99,507		106,416
CURRENT ASSETS
Stocks	6	1,560		1,560
Debtors	7	323,259		319,938
Cash at bank and in hand		984,303		944,509

		1,309,122		1,266,007
Creditors: Amounts Falling Due Within One Year	8	(400,931 )		(449,636 )

NET CURRENT ASSETS (LIABILITIES)			908,191		816,371

TOTAL ASSETS LESS CURRENT LIABILITIES			1,007,698		922,787

NET ASSETS			1,007,698		922,787

CAPITAL AND RESERVES
Called up share capital	9		466		466
Profit and Loss Account			1,007,232		922,321

SHAREHOLDERS' FUNDS			1,007,698		922,787

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Michael Wilson

Director

16 September 2024

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

B.O.W. Drywall Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04698930 . The registered office is 53 Allen Road, Ramsey, Huntingdon, Cambs, PE26 1JU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	0%
Leasehold	0%
Plant & Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance
Computer Equipment	33% Reducing Balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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B.O.W. Drywall Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 3 3 (2024: 3)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	75,000

As at 31 March 2025	75,000

Amortisation
As at 1 April 2024	75,000

As at 31 March 2025	75,000

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2024	82,394	3,451	33,993	4,789

As at 31 March 2025	82,394	3,451	33,993	4,789

Depreciation
As at 1 April 2024	-	3,449	11,158	4,734
Provided during the period	-	7	6,435	60

As at 31 March 2025	-	3,456	17,593	4,794

Net Book Value
As at 31 March 2025	82,394	(5 )	16,400	(5 )

As at 1 April 2024	82,394	2	22,835	55

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B.O.W. Drywall Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2024	1,890	126,517

As at 31 March 2025	1,890	126,517

Depreciation
As at 1 April 2024	760	20,101
Provided during the period	407	6,909

As at 31 March 2025	1,167	27,010

Net Book Value
As at 31 March 2025	723	99,507

As at 1 April 2024	1,130	106,416

6. Stocks

	2025	2024
	£	£
Stock	1,560	1,560

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	106,368	140,998
VAT control account	-	6,194
PAYE control account	6,796	33,096
Directors' loan accounts	210,095	139,650

	323,259	319,938

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	27,085	48,379
Bank loans and overdrafts	1,956	1,558
Corporation tax	110,295	123,399
VAT control account	13,581	-
Net wages	692	692
Other creditors	-	28,834
Accruals and deferred income	2,454	1,906
Directors' loan accounts	244,868	244,868

	400,931	449,636

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	466	466

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