Bowood Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04460640 (England and Wales)

Bowood Associates Limited

Financial Statements

for the Year Ended 31 August 2021

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A W Matthes

A A Hodges

SECRETARY:

Mrs C J Matthes

REGISTERED OFFICE:

24 Cornwall Road

Dorchester

Dorset

DT1 1RX

REGISTERED NUMBER:

04460640 (England and Wales)

ACCOUNTANTS:

Read Woodruff

Chartered Accountants

24 Cornwall Road

Dorchester

Dorset

DT1 1RX

FIXED ASSETS

Property, plant and equipment

4

3,210

4,262

CURRENT ASSETS

Inventories

751,456

500,427

Debtors

5

1,491

1,689

Cash at bank

69,267

152,431

822,214

654,547

CREDITORS

Amounts falling due within one year

6

621,287

470,187

NET CURRENT ASSETS

200,927

184,360

TOTAL ASSETS LESS CURRENT LIABILITIES

204,137

188,622

CREDITORS

Amounts falling due after more than one year

7

(42,500

)

(47,500

)

PROVISIONS FOR LIABILITIES

(610

)

(810

)

NET ASSETS

161,027

140,312

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

160,927

140,212

SHAREHOLDERS' FUNDS

161,027

140,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 16 May 2022 and were signed on its behalf by:

A W Matthes - Director

1.	STATUTORY INFORMATION

Bowood Associates 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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 (2020 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Office

machinery

equipment

Totals

£

£

£

COST

At 1 September 2020

and 31 August 2021

308

12,372

12,680

DEPRECIATION

At 1 September 2020

173

8,245

8,418

Charge for year

20

1,032

1,052

At 31 August 2021

193

9,277

9,470

NET BOOK VALUE

At 31 August 2021

115

3,095

3,210

At 31 August 2020

135

4,127

4,262

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

1,491

1,689

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

7,500

2,500

Trade creditors

39

41

Taxation and social security

12,096

15,748

Other creditors

601,652

451,898

621,287

470,187

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

42,500

47,500

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

2,500

7,500