Bowness Developments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01071060 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

FOR

BOWNESS DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Austin

Mrs M Austin

S M Austin

Mrs T J Barker

SECRETARY:

M J Austin

REGISTERED OFFICE:

3 North Hill

Colchester

Essex

CO1 1DZ

REGISTERED NUMBER:

01071060 (England and Wales)

ACCOUNTANTS:

Baker Chapman & Bussey

Chartered Accountants

3 North Hill

Colchester

Essex

CO1 1DZ

FIXED ASSETS

Tangible assets

4

1

1

Investment property

5

820,000

735,000

820,001

735,001

CURRENT ASSETS

Debtors

6

3,386

2,883

Investments

7

21,045

16,674

Cash at bank

94,311

64,928

118,742

84,485

CREDITORS

Amounts falling due within one year

8

28,688

21,883

NET CURRENT ASSETS

90,054

62,602

TOTAL ASSETS LESS CURRENT LIABILITIES

910,055

797,603

PROVISIONS FOR LIABILITIES

38,360

29,727

NET ASSETS

871,695

767,876

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

9

419,482

338,928

Retained earnings

452,113

428,848

SHAREHOLDERS' FUNDS

871,695

767,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 March 2018 and were signed on its behalf by:

M J Austin - Director

Mrs M Austin - Director

1.	STATUTORY INFORMATION

Bowness Developments 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rent receivable from investment properties.

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 and 10% on cost

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 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 September 2016

and 31 August 2017

4,464

DEPRECIATION

At 1 September 2016

and 31 August 2017

4,463

NET BOOK VALUE

At 31 August 2017

1

At 31 August 2016

1

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2016

735,000

Revaluations

85,000

At 31 August 2017

820,000

NET BOOK VALUE

At 31 August 2017

820,000

At 31 August 2016

735,000

The investment properties have been valued by the directors at a fair value based on the anticipated open

market value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,000

1,620

Other debtors

1,386

1,263

3,386

2,883

7.	CURRENT ASSET INVESTMENTS

2017

2016

£

£

Listed investments

21,045

16,674

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

5,659

5,037

Other creditors

23,029

16,846

28,688

21,883

9.

RESERVES

Fair

value

reserve

£

At 1 September 2016

338,928

Fair value adjustment

89,187

Deferred tax on fair value

adjustment

(8,633

)

At 31 August 2017

419,482