Bower Mapson Homes Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09866992 (England and Wales)

BOWER MAPSON HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mr P Mapson

Mrs P Mapson

SECRETARY:

Mrs P Mapson

REGISTERED OFFICE:

Willow House 7 The Avenue

Stanton Fitzwarren

SWINDON

Wiltshire

SN6 7SE

REGISTERED NUMBER:

09866992 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

Barclays Bank Plc

Leicester

Leicestershire

LE87 2BB

FIXED ASSETS

Tangible assets

4

8,178

10,777

CURRENT ASSETS

Stocks

73

129,831

Debtors

5

282

51,711

Cash at bank and in hand

9,803

13,948

10,158

195,490

CREDITORS

Amounts falling due within one year

6

321,474

304,198

NET CURRENT LIABILITIES

(311,316

)

(108,708

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(303,138

)

(97,931

)

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

(303,140

)

(97,933

)

SHAREHOLDERS' FUNDS

(303,138

)

(97,931

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th December 2022 and were signed on its behalf by:

Mr P Mapson - Director

1.	STATUTORY INFORMATION

Bower Mapson Homes Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09866992

Registered office: Willow House 7 The Avenue, Stanton Fitzwarren, Swindon, Wiltshire, SN6 7SE

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Going concern

**To be confirmed**

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Work in progress is valued with reference to the directors estimate of the overall profit margin expected on each project.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Office equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value. Costs are made up of direct materials, direct labour and other direct costs. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Financial instruments

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2021

21,862

Additions

473

Disposals

(3,291

)

At 31st March 2022

19,044

DEPRECIATION

At 1st April 2021

11,085

Charge for year

1,473

Eliminated on disposal

(1,692

)

At 31st March 2022

10,866

NET BOOK VALUE

At 31st March 2022

8,178

At 31st March 2021

10,777

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

282

51,711

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

534

3,969

Amounts owed to participating interests

160,999

154,999

Other creditors

159,941

145,230

321,474

304,198

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

2

Ordinary

£1

2

2

8.	RELATED PARTY DISCLOSURES

As at 31 March 2021, Bower Mapson Homes Limited owed £154,999 to a company holding a participating interest in Bower Mapson Homes Limited. During the current year, the same company provided Bower Mapson Homes Limited with an additional loan of £6,000, leaving £160,999 outstanding at the year end.The loan is provided interest free with no fixed repayment terms.