Company Registration No. 04234056 (England and Wales)
BOWMANS OF WATFORD LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2014
BOWMANS OF WATFORD LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
BOWMANS OF WATFORD LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2014
30 June 2014
- 1 -
2014
2013
Notes
£
£
£
£
Current assets
Stocks
33,468
33,468
Debtors
11,000
11,000
Cash at bank and in hand
-
2,212
44,468
46,680
Creditors: amounts falling due within one year
(112,040)
(96,396)
Total assets less current liabilities
(67,572)
(49,716)
Capital and reserves
Called up share capital
2
2
2
Profit and loss account
(67,574)
(49,718)
Shareholders' funds
(67,572)
(49,716)
For the financial year ended 30 June 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 16 December 2015
Mr M J Sharkey
Director
Company Registration No. 04234056
BOWMANS OF WATFORD LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand.
The company's Balance Sheet at the year end shows net current liabilities of £
67,572
. Based on this the director has reviewed the company's costs and identified areas where savings can be made. These savings will be implemented over the coming year and based on this the director is confident that the company will recover the deficit on its Balance Sheet and return to a positive reserves position within the next two years. The director has reviewed the company's projected cash flow information and is confident that the company will continue to operate within the facility currently agreed.
On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
over 4 years
Motor vehicles
over 4 years
2
Share capital
2014
2013
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2