REGISTERED NUMBER: 00104680 (England and Wales)

Bowers & Barr,limited

Unaudited Financial Statements

for the Year Ended

30th November 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

A P Frosdick

Mrs J E Rose

SECRETARY:

Mrs J E Rose

REGISTERED OFFICE:

30A Hall Plain

Great Yarmouth

Norfolk

NR30 2QD

REGISTERED NUMBER:

00104680 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

170 High Street

Gorleston

Great Yarmouth

Norfolk

NR31 6RG

FIXED ASSETS

Tangible assets

5

6,118

139,768

CURRENT ASSETS

Stocks

13,810

11,755

Debtors

6

217,205

240,078

Cash at bank

31,945

40,424

262,960

292,257

CREDITORS

Amounts falling due within one year

7

202,502

398,085

NET CURRENT ASSETS/(LIABILITIES)

60,458

(105,828

)

TOTAL ASSETS LESS CURRENT LIABILITIES

66,576

33,940

CREDITORS

Amounts falling due after more than one year

8

810,435

548,753

NET LIABILITIES

(743,859

)

(514,813

)

CAPITAL AND RESERVES

Called up share capital

9

12,000

12,000

Revaluation reserve

10

-

106,329

Capital redemption reserve

4,000

4,000

Retained earnings

(759,859

)

(637,142

)

SHAREHOLDERS' FUNDS

(743,859

)

(514,813

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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 31st December 2018 and were signed on its behalf by:

A P Frosdick - Director

Mrs J E Rose - Director

1.	STATUTORY INFORMATION

Bowers & Barr,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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30th November 2017 are the first that are prepared in

accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK

GAAP, the date of transition to FRS 102 Section 1A is 1st December 2015.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

The company has adopted the provisions of UITF abstract 40 - Revenue recognition and service contracts.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work

done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts

and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost of buildings

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

All fixed assets are initially recorded at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

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.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their

fair value. The capital element of the future payments is treated as a liability and the interest is charged to

the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

Going concern

H.M. Revenue & Customs instigated proceedings to wind up the company in November 2015 due to unpaid

tax liabilities. On 25 April 2016 Graham Stuart Wolloff of Elwell Watchorn & Saxton LLP was appointed

administrator under The Insolvency Act 1986. The company entered into a Company Voluntary Arrangement

on 3 April 2017 and the period of administration ended on 24 July 2017.

After careful review of the improved financial performance of the current year, directors' projections of

future periods, contract enquiries and the continued support of the directors in respect of loans made to the

company, the directors are confident the company is able to meet the repayment terms imposed by the

Company Voluntary Arrangement and that outstanding liabilities and future liabilities arising after entering

into the Company Voluntary Arrangement will be paid in full.

After due consideration the directors believe that the going concern basis is the appropriate method of

preparing the financial statements.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2016 - 17 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st December 2016

140,000

5,135

446

Additions

-

1,000

639

Disposals

(140,000

)

(5,135

)

-

At 30th November 2017

-

1,000

1,085

DEPRECIATION

At 1st December 2016

4,518

3,907

-

Charge for year

1,318

283

107

Eliminated on disposal

(5,836

)

(4,086

)

-

At 30th November 2017

-

104

107

NET BOOK VALUE

At 30th November 2017

-

896

978

At 30th November 2016

135,482

1,228

446

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st December 2016

61,764

-

207,345

Additions

1,200

1,409

4,248

Disposals

-

-

(145,135

)

At 30th November 2017

62,964

1,409

66,458

DEPRECIATION

At 1st December 2016

59,152

-

67,577

Charge for year

778

199

2,685

Eliminated on disposal

-

-

(9,922

)

At 30th November 2017

59,930

199

60,340

NET BOOK VALUE

At 30th November 2017

3,034

1,210

6,118

At 30th November 2016

2,612

-

139,768

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

118,279

172,504

Other debtors

98,926

67,574

217,205

240,078

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

74,281

89,930

Taxation and social security

40,687

220,474

Other creditors

87,534

87,681

202,502

398,085

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

810,435

548,753

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

12,000

Ordinary

£1

12,000

12,000

10.

RESERVES

Revaluation

reserve

£

At 1st December 2016

106,329

Transfers

(12,093

)

Eliminated on disposal

(94,236

)

At 30th November 2017

-

11.	OTHER FINANCIAL COMMITMENTS

The company entered into a Company Voluntary Arrangement (CVA) on 3 April 2017, under the CVA the

company is to make no fewer than 60 monthly voluntary contributions of not less than £4,000 during the

term of the arrangement which shall be no less than 60 months. To the Balance Sheet date the company had

made seven payments of £4,000.