Bowman Engineering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05817974 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

BOWMAN ENGINEERING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr B G Bowman

REGISTERED OFFICE:

Fraser Ross House

24 Broad Street

Stamford

Lincolnshire

PE9 1PJ

REGISTERED NUMBER:

05817974 (England and Wales)

ACCOUNTANTS:

Brayshaw Morey

Certified Public Accountants

Fraser Ross House

24 Broad Street

Stamford

Lincolnshire

PE9 1PJ

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

5,817

7,427

5,817

7,427

CURRENT ASSETS

Debtors

7

17,744

13,866

Cash at bank and in hand

21,201

81,868

38,945

95,734

CREDITORS

Amounts falling due within one year

8

16,376

57,587

NET CURRENT ASSETS

22,569

38,147

TOTAL ASSETS LESS CURRENT LIABILITIES

28,386

45,574

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

28,384

45,572

SHAREHOLDERS' FUNDS

28,386

45,574

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 11 December 2019 and were signed by:

Mr B G Bowman - Director

1.	STATUTORY INFORMATION

Bowman Engineering 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five 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.

Plant and machinery

-

25% on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

200,000

AMORTISATION

At 1 April 2018

and 31 March 2019

200,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2018

and 31 March 2019

8,500

17,740

2,853

29,093

DEPRECIATION

At 1 April 2018

8,500

10,469

2,697

21,666

Charge for year

-

1,454

156

1,610

At 31 March 2019

8,500

11,923

2,853

23,276

NET BOOK VALUE

At 31 March 2019

-

5,817

-

5,817

At 31 March 2018

-

7,271

156

7,427

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

17,564

13,709

Other debtors

180

157

17,744

13,866

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

-

164

Taxation and social security

8,627

11,616

Other creditors

7,749

45,807

16,376

57,587

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1 April 2018

45,572

Profit for the year

9,312

Dividends

(26,500

)

At 31 March 2019

28,384

11.	RELATED PARTY DISCLOSURES

The Director has passed a special resolution dated 1 April 2008 whereby interest will be charged to Bowman

Engineering Limited on the outstanding Directors loan account. This will be based on the closing balance as at

31 March each year. The interest rate will be based on the Bank of England base rate plus 4.5%.

An interest charge of £225 (2018 - £2,027) was made to the Company.