P Bowyer Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01895836 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

P Bowyer Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P D C Bowyer

Mrs H P Bowyer

D C Bowyer

R Bowyer

REGISTERED OFFICE:

33 Mahoney Green

Green Lane West

Rackheath

NORWICH

Norfolk

NR13 6JY

REGISTERED NUMBER:

01895836 (England and Wales)

ACCOUNTANTS:

Argents Chartered Accountants

15 Palace Street

NORWICH

Norfolk

NR3 1RT

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

466,726

498,192

Investment property

6

883,000

883,000

1,349,726

1,381,192

CURRENT ASSETS

Stocks

7

7,000

15,100

Debtors

8

275,596

244,417

Cash in hand

251

359

282,847

259,876

CREDITORS

Amounts falling due within one year

9

570,303

590,104

NET CURRENT LIABILITIES

(287,456

)

(330,228

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,062,270

1,050,964

CREDITORS

Amounts falling due after more than one year

10

(92,058

)

(139,849

)

PROVISIONS FOR LIABILITIES

(75,206

)

(78,033

)

NET ASSETS

895,006

833,082

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

6,174

6,174

Other reserves

12

342,672

342,672

Retained earnings

546,060

484,136

SHAREHOLDERS' FUNDS

895,006

833,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 31 October 2019 and were signed on its behalf by:

D C Bowyer - Director

1.	STATUTORY INFORMATION

P Bowyer 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Turnover represents the value of goods and services supplied by the company, net of VAT and trade discounts,

during the period. Where work spans the year end the relevant proportion of the net invoice value is treated as

accrued income.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Land & Buildings

-

2% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

30% on reducing balance

Investment property

Investment property is carried at fair value, determined annually by the directors and derived from considering

current market conditions and investment property yields for comparable real estate, adjusted if necessary for

any difference in the nature, location or condition of the specific asset and referring to outside experts where

necessary. No depreciation is provided on investment properties and changes in fair value are recognised in the

Statement of Comprehensive Income.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Leasing and hire purchase

Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over

the term of the lease.

Assets held under finance leases and HP agreements, which are those where substantially all the risks and

rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and are

depreciated over their useful economic lives. The capital element of future obligations under the lease is

included as a liability in the balance sheet. The interest element of the payment obligations is charged to the

profit and loss account over the period of the agreement and represents a constant proportion of the balance of

capital repayments outstanding.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2018 - 36 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2018

and 30 June 2019

40,000

AMORTISATION

At 1 July 2018

and 30 June 2019

40,000

NET BOOK VALUE

At 30 June 2019

-

At 30 June 2018

-

5.	TANGIBLE FIXED ASSETS

Land &

Plant and

Motor

Buildings

machinery

vehicles

Totals

£

£

£

£

COST

At 1 July 2018

388,093

365,498

377,819

1,131,410

Additions

-

7,035

36,050

43,085

Disposals

-

(5,936

)

(49,864

)

(55,800

)

At 30 June 2019

388,093

366,597

364,005

1,118,695

DEPRECIATION

At 1 July 2018

101,465

304,842

226,911

633,218

Charge for year

7,165

17,217

44,701

69,083

Eliminated on disposal

-

(4,058

)

(46,274

)

(50,332

)

At 30 June 2019

108,630

318,001

225,338

651,969

NET BOOK VALUE

At 30 June 2019

279,463

48,596

138,667

466,726

At 30 June 2018

286,628

60,656

150,908

498,192

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2018

and 30 June 2019

883,000

NET BOOK VALUE

At 30 June 2019

883,000

At 30 June 2018

883,000

7.

STOCKS

2019

2018

£

£

Stocks

7,000

15,100

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

257,825

203,728

Other debtors

13,984

34,320

Directors' loan accounts

3,787

6,369

275,596

244,417

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

215,443

263,186

Hire purchase contracts

71,278

73,068

Trade creditors

63,435

77,351

Tax

45,090

36,488

Social security and other taxes

18,690

16,854

VAT

64,696

62,121

Other creditors

26,552

22,488

Directors' loan accounts

1,531

388

Accruals and deferred income

63,588

38,160

570,303

590,104

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

26,057

43,181

Hire purchase contracts

66,001

96,668

92,058

139,849

11.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdrafts

175,484

216,667

Bank loans

66,016

89,700

Hire purchase contracts

137,279

169,736

378,779

476,103

Within secured creditors are amounts of £92,058 which fall due after one year. Security is held over the HP

assets being financed. The bank loans and overdraft are secured by a fixed and floating charge over the

company's assets.

12.

RESERVES

Other

reserves

£

At 1 July 2018

and 30 June 2019

342,672

The Other reserves balance is the surplus arising on the revaluation of investment properties, net of the deferred

tax liability provided for in relation to the revaluation.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

P Bowyer had a loan account with the company. During the year he was advanced amounts of £22,684, and

repaid £23,161.

D Bowyer had a loan account with the company. During the year he was advanced amounts of £2,435, and

repaid £2,435.

R Bowyer had a loan account with the company. During the year he was advanced amounts of £30,956, and

repaid £27,074.

Interest is payable where the amount advanced exceeded the HMRC threshold in line with the rules for

beneficial loans. The loans are repayable on demand.