Bowlrapid Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05961344 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

BOWLRAPID LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R G Kilikita

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

05961344 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certifed Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

4

1,970,000

1,970,000

CURRENT ASSETS

Debtors

5

3,957

6,751

Cash at bank

142,233

541,103

146,190

547,854

CREDITORS

Amounts falling due within one year

6

469,040

949,884

NET CURRENT LIABILITIES

(322,850

)

(402,030

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,647,150

1,567,970

PROVISIONS FOR LIABILITIES

7

334,300

334,300

NET ASSETS

1,312,850

1,233,670

CAPITAL AND RESERVES

Called up share capital

8

1

1

Fair value reserve

9

625,841

625,841

Retained earnings

687,008

607,828

SHAREHOLDERS' FUNDS

1,312,850

1,233,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 and authorised for issue on 31 October 2023 and were signed by:

Mr R G Kilikita - Director

1.	STATUTORY INFORMATION

Bowlrapid 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred. This is stated after trade discounts, other sales taxes and net of VAT.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2022

and 31 January 2023

1,970,000

NET BOOK VALUE

At 31 January 2023

1,970,000

At 31 January 2022

1,970,000

Fair value at 31 January 2023 is represented by:

£

Valuation in 2016

305,841

Valuation in 2018

350,000

Valuation in 2020

(30,000

)

Cost

1,344,159

1,970,000

The valuations were made by the director, on an open market value basis as at 31 January 2023.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Prepayments and accrued income

3,957

6,751

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade creditors

252

2,108

Amounts owed to group undertakings

407,397

907,397

Tax

37,270

18,442

VAT

3,625

3,825

Amounts due to related party

100

100

Accruals and deferred income

20,396

18,012

469,040

949,884

7.	PROVISIONS FOR LIABILITIES

31.1.23

31.1.22

£

£

Deferred tax

334,300

334,300

Deferred

tax

£

Balance at 1 February 2022

334,300

Balance at 31 January 2023

334,300

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.23

31.1.22

value:

£

£

1

Ordinary shares

1

1

1

9.

RESERVES

Fair

value

reserve

£

At 1 February 2022

and 31 January 2023

625,841