| Bowler Fern Ltd |
| Registered number: |
08517957 |
| Balance sheet |
| as at 31 May 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,613 |
|
|
5,583 |
|
| Current assets |
| Debtors |
4 |
|
31,435 |
|
|
32,940 |
| Cash at bank and in hand |
|
|
3,745 |
|
|
4,055 |
|
|
|
35,180 |
|
|
36,995 |
|
| Creditors: amounts falling due within one year |
5 |
|
(35,763) |
|
|
(31,117) |
|
| Net current (liabilities)/assets |
|
|
|
(583) |
|
|
5,878 |
|
| Total assets less current liabilities |
|
|
|
1,030 |
|
|
11,461 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(370) |
|
|
(9,852) |
|
| Provisions for liabilities |
|
|
|
(320) |
|
|
(1,117) |
|
| Net assets |
|
|
|
340 |
|
|
492 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
10 |
|
|
10 |
| Profit and loss account |
|
|
|
330 |
|
|
482 |
|
| Shareholders' funds |
|
|
|
340 |
|
|
492 |
|
|
|
|
|
|
|
|
| These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the option not to file the profit and loss account has been taken, under s444. |
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
|
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
|
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of unaudited financial statements. |
|
|
|
| ……………………………… |
……………………………… |
| Mr R Kruit |
Mrs S Kruit |
| Director |
Director |
| Approved by the board on 5 February 2018 |
|
| Bowler Fern Ltd |
| Notes to the unaudited financial statements |
| for the year ended 31 May 2017 |
|
|
| 1 |
General Information |
|
|
Bowler Fern Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is : Strathspey Parkgate Road, Newdigate, Dorking, Surrey, RH5 5DY. |
|
| 2 |
Accounting policies |
|
|
Basis of preparation |
|
These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 102 Section 1A "Small Entities". "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
|
|
First year adoption |
|
These financial statements for the year ended 31 May 2017 are the first financial statements of the Company following the adoption of FRS 102. The date of transition to FRS 102 was 1 June 2015. The Company previously reported under old UK GAAP. The Company has made no measurement and recognition adjustments. |
|
|
|
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Office equipment |
3 years straight line |
|
Fixture and fittings |
4 years straight line |
|
Motor vehicles |
4 years straight line |
|
|
Taxation |
|
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
|
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
|
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. |
|
|
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. |
|
|
Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
|
| 3 |
The average number of employees, including directors, during the year was as follows: |
|
|
|
|
|
|
|
2017 |
|
2016 |
| Number |
Number |
|
|
Number of employees |
1 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
Office equipment |
|
Fixture and fittings |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 June 2016 |
2,422 |
|
223 |
|
19,995 |
|
22,640 |
|
Additions |
1,582 |
|
- |
|
- |
|
1,582 |
|
Disposals |
- |
|
- |
|
(19,995) |
|
(19,995) |
|
At 31 May 2017 |
4,004 |
|
223 |
|
- |
|
4,227 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2016 |
1,472 |
|
172 |
|
15,413 |
|
17,057 |
|
Charge for the year |
919 |
|
51 |
|
- |
|
970 |
|
On disposals |
- |
|
- |
|
(15,413) |
|
(15,413) |
|
At 31 May 2017 |
2,391 |
|
223 |
|
- |
|
2,614 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2017 |
1,613 |
|
- |
|
- |
|
1,613 |
|
At 31 May 2016 |
950 |
|
51 |
|
4,582 |
|
5,583 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Amounts owed by related party companies |
|
30,000 |
|
30,000 |
|
PAYE/NIC receivable |
|
|
|
|
- |
|
357 |
|
Prepayments |
1,435 |
|
2,583 |
|
|
|
|
|
|
31,435 |
|
32,940 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans and overdrafts |
9,481 |
|
9,481 |
|
Corporation tax |
1,985 |
|
9,504 |
|
Other taxes and social security costs |
94 |
|
2,600 |
|
Directors' loan account |
24,203 |
|
9,087 |
|
Other creditors |
- |
|
445 |
|
|
|
|
|
|
35,763 |
|
31,117 |
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans |
370 |
|
9,852 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
|
Mr and Mrs R Kruit |
|
|
Director and shareholder |
|
|
During the year, the director's current account of Mr and Mrs R Kruit was credited with capital introduced of £27,492 and charged with drawings of £12,376. The balance owed to Mr and Mrs R Kruit at 31 May 2017 was £24,203 (2016 : £9,087) |
|
|
These amounts are interest free and there is no fixed repayment date. |
|
|
Southern Counties Aviation Limited |
|
|
Intercompany |
|
|
Raymond Kruit is a director and a 50% shareholder. The amount owed by Southern Counties Aviation Limited at 31 May 2017 is £30,000. |
