Bowhite (Investments) Limited Company Accounts
Bowhite (Investments) Limited Company Accounts
COMPANY REGISTRATION NUMBER:
01640745
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FINANCIAL STATEMENTS |
YEAR ENDED 31 MARCH 2018
CONTENTS |
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Chartered accountants report to the director on the preparation of the unaudited statutory financial statements |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
4 |
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CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
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YEAR ENDED 31 MARCH 2018
Onega House
112 Main Road
Sidcup
Kent
DA14 6NE
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STATEMENT OF FINANCIAL POSITION |
2018 |
2017 |
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Note |
£ |
£ |
£ |
FIXED ASSETS
Tangible assets |
5 |
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Investments |
6 |
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– |
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CURRENT ASSETS
Debtors |
7 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
8 |
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NET CURRENT LIABILITIES |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS
Taxation including deferred tax |
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NET ASSETS |
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STATEMENT OF FINANCIAL POSITION (continued) |
2018 |
2017 |
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Note |
£ |
£ |
£ |
CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
28 September 2018
, and are signed on behalf of the board by:
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Director |
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Company registration number:
01640745
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31 MARCH 2018
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE, United Kingdom.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
Basis of preparation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Financial instruments
4.
TAX ON PROFIT
Major components of tax expense/(income)
2018 |
2017 |
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£ |
£ |
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Current tax:
UK current tax expense |
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– |
Deferred tax:
Origination and reversal of timing differences |
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Tax on profit |
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(
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5.
TANGIBLE ASSETS
Land and buildings |
Fixtures and fittings |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 April 2017 |
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Transfers |
(50,000) |
– |
(50,000) |
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At 31 March 2018 |
– |
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Depreciation |
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At 1 April 2017 |
– |
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Charge for the year |
– |
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At 31 March 2018 |
– |
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Carrying amount |
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At 31 March 2018 |
– |
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At 31 March 2017 |
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6.
INVESTMENTS
Other investments other than loans |
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£ |
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Cost |
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At 1 April 2017 |
– |
Revaluations |
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Transfers |
50,000 |
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At 31 March 2018 |
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Impairment |
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At 1 April 2017 and 31 March 2018 |
– |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
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7.
DEBTORS
2018 |
2017 |
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£ |
£ |
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Other debtors |
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8.
CREDITORS:
amounts falling due within one year
2018 |
2017 |
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£ |
£ |
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Corporation tax |
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– |
Other creditors |
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9.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
At 31 March 2018 the director owed Bowhite (Investments) Limited £597 (2017: £nil). There are no terms attached to the loan provided to the director and it has been provided by the company interest free.