Howard Bowcott Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 7714157

HOWARD BOWCOTT LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2025

HOWARD BOWCOTT LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	4		11,375	11,930

Current assets

Stocks		1,250	2,425
Debtors	5	24,355	–
Cash at bank and in hand		5,635	7,079
		--------	-------
		31,240	9,504

Creditors: amounts falling due within one year	6	11,693		4,916
		--------		-------
Net current assets			19,547	4,588
			--------	--------
Total assets less current liabilities			30,922	16,518

Creditors: amounts falling due after more than one year	7		24,199	21,254

Provisions

Taxation including deferred tax	2,165	2,267
	--------	--------
Net assets/(liabilities)	4,558	( 7,003)
	--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	4,557	( 7,004)
	-------	-------
Shareholders funds/(deficit)	4,558	( 7,003)
	-------	-------

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

HOWARD BOWCOTT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 9 June 2025 , and are signed on behalf of the board by:

Mr C H Bowcott
Director

Company registration number: 7714157

HOWARD BOWCOTT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 92 - 94 High Street, Porthmadog, Gwynedd, LL49 9NW, Wales.

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

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.

Taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company`s accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current rates and laws.

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 property	-	10% straight line
Tools and equipment	-	15% reducing balance
Fixtures and fittings	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 April 2024	15,460	29,379	9,480	54,319
Additions	–	1,459	–	1,459
	--------	--------	-------	--------
At 31 March 2025	15,460	30,838	9,480	55,778
	--------	--------	-------	--------
Depreciation
At 1 April 2024	15,460	20,429	6,500	42,389
Charge for the year	–	1,564	450	2,014
	--------	--------	-------	--------
At 31 March 2025	15,460	21,993	6,950	44,403
	--------	--------	-------	--------
Carrying amount
At 31 March 2025	–	8,845	2,530	11,375
	--------	--------	-------	--------
At 31 March 2024	–	8,950	2,980	11,930
	--------	--------	-------	--------

5. Debtors

	2025	2024
	£	£
Trade debtors	24,355	–
	--------	----

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	2,729	2,016
Corporation tax	4,694	544
Social security and other taxes	4,270	2,356
	--------	-------
	11,693	4,916
	--------	-------

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	7,141	8,523
Other creditors	17,058	12,731
	--------	--------
	24,199	21,254
	--------	--------

8. Director's advances, credits and guarantees

There were no director's advances, credits or guarantees during the year.

9. Related party transactions

The company paid £1800 to Mr Bowcott for rent of the workshop.