Company Registration No. 06887937 (England and Wales)
BOW & ARROW LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2015
BOW & ARROW LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BOW & ARROW LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2015
30 April 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
158,235
210,233
Current assets
Debtors
1,292,598
793,727
Cash at bank and in hand
175,152
107,528
1,467,750
901,255
Creditors: amounts falling due within one year
(927,864)
(867,978)
Net current assets
539,886
33,277
Total assets less current liabilities
698,121
243,510
Provisions for liabilities
(13,069)
(20,788)
685,052
222,722
Capital and reserves
Called up share capital
3
95
100
Other reserves
5
-
Profit and loss account
684,952
222,622
Shareholders' funds
685,052
222,722
For the financial year ended 30 April 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 and authorised for issue on 1 July 2015
B Slater
Director
Company Registration No. 06887937
BOW & ARROW LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2015
- 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).
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 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:
Leasehold improvements
10% straight line
Fixtures, fittings & equipment
20% and 33 1/3% straight line
1.5
Revenue recognition
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included in creditors due within one year.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.8
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
BOW & ARROW LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2014
294,656
Additions
3,494
At 30 April 2015
298,150
Depreciation
At 1 May 2014
84,423
Charge for the year
55,492
At 30 April 2015
139,915
Net book value
At 30 April 2015
158,235
At 30 April 2014
210,233
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
95 Ordinary shares of £1 each
95
100
4
Related party relationships and transactions
Advances and credits to directors
Advances and credits granted to the directors during the year are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
B Slater
-
2,362
-
2,992
(630)
N Chetiyawardana
-
27,341
-
14,686
12,655
29,703
-
-
17,678
12,025