R.E. Bowers & Freeman Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 00674029 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

R.E. BOWERS & FREEMAN LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs O Bowers

Mr JG Bowers

Mrs YL Copson

SECRETARY:

Mrs YL Copson

REGISTERED OFFICE:

15 Saffron Road

South Wigston

Leicester

Leicestershire

LE18 4TG

REGISTERED NUMBER:

00674029 (England and Wales)

FIXED ASSETS

Tangible assets

2

267,644

310,207

CURRENT ASSETS

Stocks

179,441

176,200

Debtors

300,142

260,563

Cash at bank and in hand

123,995

154,888

603,578

591,651

CREDITORS

Amounts falling due within one year

3

96,665

128,246

NET CURRENT ASSETS

506,913

463,405

TOTAL ASSETS LESS CURRENT LIABILITIES

774,557

773,612

CREDITORS

Amounts falling due after more than one year

3

(8,504

)

(18,728

)

PROVISIONS FOR LIABILITIES

(44,357

)

(51,610

)

NET ASSETS

721,696

703,274

CAPITAL AND RESERVES

Called up share capital

4

500,262

262,262

Capital redemption reserve

-

238,238

Profit and loss account

221,434

202,774

SHAREHOLDERS' FUNDS

721,696

703,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 August 2015 and were signed on its behalf by:

Mr JG Bowers - Director

1.	ACCOUNTING POLICIES

ACCOUNTING CONVENTION

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

TURNOVER

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the

year, exclusive of Value Added Tax and trade discounts.

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.

Plant and machinery

-

10% straight line

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

20% straight line

STOCKS

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

RESEARCH AND DEVELOPMENT

Expenditure on research and development is written off in the year in which it is incurred.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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 the profit and loss account in the period to which they relate.

GRANTS

Government grants are recorded in the profit and loss account in the same period as the relevant expenditure.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

834,232

Additions

23,783

At 31 December 2014

858,015

DEPRECIATION

At 1 January 2014

524,025

Charge for year

66,346

At 31 December 2014

590,371

NET BOOK VALUE

At 31 December 2014

267,644

At 31 December 2013

310,207

3.

CREDITORS

Creditors include an amount of £ 18,728 (2013 - £ 28,952 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

262

Ordinary Shares

£1

262

262

500,000

5% Preference

£1

500,000

262,000

500,262

262,262

238,000 5% Preference shares of £1 each were allotted as fully paid as a bonus issue out of reserves during the

year.

Non-equity shares - non-cumulative preference shares

1. Distributions to holders of non-cumulative preference shares are discretionary. The non-cumulative preference

shares are classed as equity and are non redeemable.

2. No voting rights are attached to the non-cumulative preference shares.

3. Before any dividends are paid to ordinary shareholders, the preference shareholders must be paid a net cash

preferential dividend of 5 pence per annum on each share of £1 nominal value.

4. In the event of the company winding up, the assets of the company remaining after the payment of its liabilities

shall be applied:-

- First in paying the preferential shareholders the subscription price per share;

- Second in paying the ordinary shareholders per share a sum equal to the amount of capital paid on each

ordinary share;

- Third the balance of such assets shall be distributed amongst the ordinary shareholders.