REGISTERED NUMBER:
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Bowater Developments Limited |
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Unaudited Financial Statements |
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for the Year Ended 30 April 2022 |
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REGISTERED NUMBER:
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Bowater Developments Limited |
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Unaudited Financial Statements |
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for the Year Ended 30 April 2022 |
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Bowater Developments Limited (Registered number: 06030866) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2022 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Bowater Developments Limited |
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Company Information |
for the Year Ended 30 April 2022 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Unit 2 Dunheved Court |
Pennygillam Way |
LAUNCESTON |
Cornwall |
PL15 7ED |
Bowater Developments Limited (Registered number: 06030866) |
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Statement of Financial Position |
30 April 2022 |
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2022 | 2021 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Other reserves |
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Retained earnings |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Bowater Developments Limited (Registered number: 06030866) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2022 |
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1. | STATUTORY INFORMATION |
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Bowater Developments Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 May 2021 |
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Revaluations | 46,581 |
At 30 April 2022 |
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NET BOOK VALUE |
At 30 April 2022 |
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At 30 April 2021 |
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Bowater Developments Limited (Registered number: 06030866) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
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4. | INVESTMENT PROPERTY - continued |
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Fair value at 30 April 2022 is represented by: |
£ |
Valuation in 2018 | 845,000 |
Valuation in 2020 | 42,250 |
Valuation in 2021 | 44,363 |
Valuation in 2022 | 46,581 |
978,194 |
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If Investment property had not been revalued it would have been included at the following historical cost: |
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2022 | 2021 |
as restated |
£ | £ |
Cost | 924,374 | 924,374 |
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Investment Property was valued on an open market basis basis on 30 April 2022 by the Director and shareholder Mr N Ponting . |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
as restated |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to participating interests | 2,579 | 2,579 |
Taxation and social security |
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Other creditors |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
as restated |
£ | £ |
Other creditors |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
as restated |
£ | £ |
Bank Loans | 333,554 | 377,033 |
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Fixed and floating charges exist in favour of Lloyds over the undertaking of all property and assets both present and future to include 13b and 15 Newport Industrial Estate and 82 East Hill St Austell, and all the fixtures and fittings and book debts. The charges were created on the 06/03/2007. |
Bowater Developments Limited (Registered number: 06030866) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
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8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 April 2022 and 30 April 2021: |
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2022 | 2021 |
as restated |
£ | £ |
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Balance outstanding at start of year |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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This loan is unsecured, interest free and repayable on demand. |
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9. | RELATED PARTY DISCLOSURES |
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Mr J R Ponting a minority shareholder is owed £2,579 by the company. The loan is unsecured, interest free and repayable on demand. |