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Notes to the financial statements
Year ended 31 March 2025
Bowers & Norman Ltd ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom. The registered office is The Spark, Draymans Way, Newcastle upon Tyne, NE4 5DE.
2.Accounting policies
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 ' The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.
The following principal accounting policies have been applied:
At the balance sheet date the company had excess liabilities over assets. Having made due and careful enquiry the directors are of the opinion that the company, with the support of its shareholders, has adequate working capital to execute its operations over the next 12 months and continue in operational existence for the foreseeable future. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Stock and work in progress are valued 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 stock to its present location and condition. Management assess the costs held and, where required, will book a provision against the stock.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including directors, during the year was 1 (2024: 1).
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3
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