Bowl America (BWL.A) 10-Q 12 Nov 13 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Sep. 29, 2013	Nov. 06, 2013	Nov. 06, 2013
		Common Class A [Member]	Common Class B [Member]
Document Information [Line Items]	'	'	'
Entity Registrant Name	'BOWL AMERICA INC	'	'
Document Type	'10-Q	'	'
Current Fiscal Year End Date	'--06-30	'	'
Entity Common Stock, Shares Outstanding	'	3,746,454	1,414,517
Amendment Flag	'false	'	'
Entity Central Index Key	'0000013573	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Document Period End Date	29-Sep-13	'	'
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q1	'	'

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Earnings (Unaudited) (USD $)	3 Months Ended
	Sep. 29, 2013	Sep. 30, 2012
Operating Revenues:	'	'
Bowling and other	$3,395,226	$3,617,525
Food, beverage and merchandise sales	1,355,048	1,492,367
Total Operating Revenue	4,750,274	5,109,892
Operating Expenses:	'	'
Employee compensation and benefits	2,813,723	2,903,111
Cost of bowling and other services	1,558,187	1,579,700
Cost of food, beverage and merchandise sales	436,801	448,356
Depreciation and amortization	355,292	387,701
General and administrative	206,277	263,927
Total Operating Expenses	5,370,280	5,582,795
Operating Loss	-620,006	-472,903
Interest and dividend income	138,769	131,219
Loss from continuing operations before provision for income tax benefit	-481,237	-341,684
Provision for income tax benefit	-168,400	-119,600
Net Loss from continuing operations	-312,837	-222,084
Loss from discontinued operations, net of tax	-5,553	-18,909
Net loss	-318,390	-240,993
Loss per share-basic & diluted	'	'
Continuing operations (in Dollars per share)	($0.06)	($0.04)
Discontinued operations (in Dollars per share)	$0	($0.01)
Net Loss per share (in Dollars per share)	($0.06)	($0.05)
Weighted average shares outstanding (in Shares)	5,160,971	5,151,471
Dividends paid	$851,561	$824,235
Common Class A [Member]	'	'
Loss per share-basic & diluted	'	'
Per share, dividends paid, Class A (in Dollars per share)	$0.17	$0.16
Per share, dividends paid, Class B (in Dollars per share)	$0.17	$0.16
Common Class B [Member]	'	'
Loss per share-basic & diluted	'	'
Per share, dividends paid, Class A (in Dollars per share)	$0.17	$0.16
Per share, dividends paid, Class B (in Dollars per share)	$0.17	$0.16

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Earnings (Unaudited) (USD $)	3 Months Ended
	Sep. 29, 2013	Sep. 30, 2012
Net Loss	($318,390)	($240,993)
Other comprehensive earnings- net of tax	'	'
Unrealized (loss) gain on available- for-sale securities net of tax benefit of $58,754 and $123,879	-95,458	201,265
Comprehensive Loss	($413,848)	($39,728)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Earnings (Unaudited) (Parentheticals) (USD $)	3 Months Ended
	Sep. 29, 2013	Sep. 30, 2012
Unrealized loss (gain) on available-for-sale securities, tax (benefit) (in Dollars)	($58,754)	($123,879)

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 29, 2013	Jun. 30, 2013
CURRENT ASSETS:	'	'
Cash and cash equivalents	$1,778,487	$3,437,780
Short-term investments	1,448,882	949,815
Inventories	660,978	519,179
Prepaid expenses and other	349,493	563,591
Income taxes refundable	64,129	58,129
Current deferred income tax	178,158	6,658
TOTAL CURRENT ASSETS	4,480,127	5,535,152
LAND, BUILDINGS & EQUIPMENT, net of accumulated depreciation of $38,473,619 and $38,144,649	21,668,619	21,979,489
OTHER ASSETS:	'	'
Marketable investment securities	8,593,913	8,477,227
Cash surrender value-life insurance	648,717	648,717
Other	80,665	84,465
TOTAL OTHER ASSETS	9,323,295	9,210,409
TOTAL ASSETS	35,472,041	36,725,050
CURRENT LIABILITIES:	'	'
Accounts payable	430,326	694,454
Accrued expenses	968,271	1,045,645
Dividends payable	851,561	851,561
Other current liabilities	875,167	311,284
Income taxes payable	0	151,227
TOTAL CURRENT LIABILITIES	3,125,325	3,054,171
LONG-TERM DEFERRED COMPENSATION	39,194	39,194
NONCURRENT DEFERRED INCOME TAXES	2,541,130	2,599,884
TOTAL LIABILITIES	5,705,649	5,693,249
STOCKHOLDERS' EQUITY	'	'
Preferred stock, par value $10 a share: Authorized and unissued, 2,000,000 shares	0	0
Additional paid-in capital	7,849,814	7,849,814
Unrealized gain on available-for-sale securities, net of tax	2,488,562	2,584,020
Retained earnings	18,911,919	20,081,870
TOTAL STOCKHOLDERS' EQUITY	29,766,392	31,031,801
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	35,472,041	36,725,050
Common Class A [Member]	'	'
STOCKHOLDERS' EQUITY	'	'
Common stock	374,645	374,645
Common Class B [Member]	'	'
STOCKHOLDERS' EQUITY	'	'
Common stock	$141,452	$141,452

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Sep. 29, 2013	Jun. 30, 2013
Accumulated depreciation of land, buildings & equipment (in Dollars) (in Dollars)	$38,473,619	$38,144,649
Par value (in Dollars per share)	$10	$10
PrP5fP5rrP5d Stock SharP5s NuthorizP5d (in Shares)	2,000,000	2,000,000
Common Class A [Member]	'	'
Common stock, shares issued (in Shares)	3,746,454	3,746,454
Common stock, shares outstanding (in Shares)	3,746,454	3,746,454
Common stock, par value (in Dollars per share)	$0.10	$0.10
Common stock, shares aurthorized (in Shares)	10,000,000	10,000,000
Common Class B [Member]	'	'
Common stock, shares issued (in Shares)	1,414,517	1,414,517
Common stock, shares outstanding (in Shares)	1,414,517	1,414,517
Common stock, par value (in Dollars per share)	$0.10	$0.10
Common stock, shares aurthorized (in Shares)	10,000,000	10,000,000

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Sep. 29, 2013	Sep. 30, 2012
Cash Flows From Operating Activities	'	'
Net loss	($318,390)	($240,993)
Adjustments to reconcile net loss to net cash provided by operating activities:	'	'
Depreciation and amortization (including discontinued operations)	355,292	390,387
Changes in assets and liabilities	'	'
Increase in inventories	-141,799	-118,228
Decrease in prepaid & other	214,098	147,099
Increase in income taxes refundable	-6,000	'
Decrease in income taxes payable	-151,227	'
Decrease in other long-term assets	3,800	'
Increase in deferred tax asset	-171,500	-129,700
(Decrease) increase in accounts payable	-264,128	209
Decrease in accrued expenses	-77,374	-64,911
Increase in other current liabilities	563,883	608,856
Net cash provided by operating activities	6,655	592,719
Cash Flows From Investing Activities	'	'
Expenditures for land, building and equip	-44,422	-288,633
Net (purchases) sales & maturities of short-term Investments	-499,067	406,233
Purchases of marketable securities	-270,898	-23,693
Net cash (used by) provided by investing activities	-814,387	93,907
Cash Flows From Financing Activities	'	'
Payment of cash dividends	-851,561	-824,235
Net cash used in financing activities	-851,561	-824,235
Net (Decrease) increase in Cash and Equivalents	-1,659,293	-137,609
Cash and Equivalents, Beginning of period	3,437,780	2,332,022
Cash and Equivalents, End of period	1,778,487	2,194,413
Cash Paid During the Period for:	'	'
Income taxes	$157,227	'

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Sep. 29, 2013
Accounting Policies [Abstract]	'
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	'
	1.  Basis for Presentation
	The accompanying unaudited condensed consolidated financial statements of Bowl America Incorporated and subsidiaries (the "Company"), have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission.  The condensed consolidated balance sheet as of June 30, 2013 has been derived from the Company's audited financial statements.  Certain information and note disclosures normally included in the annual financial statements, prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information presented not misleading.
	In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments and reclassifications (all of which are of a normal, recurring nature) that are necessary for the fair presentation of the Company’s financial position and results of operations for the periods presented.  It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended June 30, 2013.

Note_2_Investments

Note 2 - Investments	3 Months Ended
	Sep. 29, 2013
Investments, Debt and Equity Securities [Abstract]	'
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	'
	2.  Investments
	The Company’s investments are categorized as available-for-sale. Short-term investments consist of certificates of deposits with maturities of generally three months to one year. Equity securities consist primarily of telecommunications stocks. Mutual funds consist of federal agency mortgage backed securities (Ginnie Mae). The fair value of the Company’s investments at September 29, 2013 and June 30, 2013 were as follows:
	29-Sep-13		Fair Value		Cost basis		Unrealized Gain
	Description
	Short-term investments		$	1,448,882	$	1,448,882	$	-
	Equity securities		$	5,120,924	$	1,140,656	$	3,980,268
	Mutual funds		$	3,472,989	$	3,432,986	$	40,003
	30-Jun-13		Fair Value		Cost basis		Unrealized Gain
	Description
	Short-term investments		$	949,815	$	949,815	$	-
	Equity securities		$	5,046,557	$	888,998	$	4,157,559
	Mutual funds		$	3,430,670	$	3,413,745	$	16,925
	The fair values of the Company’s investments were determined as follows:
	29-Sep-13		Quoted		Significant Other		Significant Unobservable
			Price for Identical		Observable		Inputs
			Assets		Inputs		(Level 3)
	Description		(Level 1)		(Level 2)
	Certificates of deposits		$	-	$	1,448,882	$	-
	Equity securities			5,120,924		-		-
	Mutual funds			3,472,989		-		-
	Total		$	8,593,913	$	1,448,882	$	-
	30-Jun-13		Quoted		Significant Other		Significant
			Price for Identical		Observable Inputs		Unobservable Inputs
			Assets		(Level 2)		(Level 3)
	Description		(Level 1)
	Certificates of deposits		$	-	$	949,815	$	-
	Equity securities			5,046,557		-		-
	Mutual funds			3,430,670		-		-
	Total		$	8,477,227	$	949,815	$	-
	The stocks included in the portfolio as of September 29, 2013 were:
	82,112	shares of AT&T
	4,508	shares of Frontier Communications
	475	shares of LSI
	40,000	shares of Sprint
	11,865	shares of Vodafone
	2,520	shares of Manulife
	4,398	shares of CenturyLink
	412	shares of DexMedia
	774	shares of NCR
	28,784	shares of Verizon
	4,079	shares of Windstream
	774	shares of Teradata
	The fair value of certificates of deposits is estimated using net present value techniques and comparing the values derived from those techniques to certificates with similar values.

Note_3_Commitments_and_Conting

Note 3 - Commitments and Contingencies	3 Months Ended
	Sep. 29, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	3.   Commitments and Contingencies
	The Company’s purchase commitments at September 29, 2013, are for materials, supplies, services and equipment as part of the normal course of business.

Note_4_Employee_benefit_plans

Note 4 - Employee benefit plans	3 Months Ended
	Sep. 29, 2013
Compensation and Retirement Disclosure [Abstract]	'
Pension and Other Postretirement Benefits Disclosure [Text Block]	'
	4.   Employee benefit plans
	The Company has two defined contribution plans with Company contributions determined by the Board of Directors.  The Company has no defined benefit plan or other postretirement plan.

Note_5_New_Accounting_Pronounc

Note 5 - New Accounting Pronouncements	3 Months Ended
	Sep. 29, 2013
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	'
	5.   New Accounting Standards
	There were no new accounting pronouncements during the quarter ended September 29, 2013, that would impact the
	Company.

Note_6_Subsequent_Events

Note 6 - Subsequent Events	3 Months Ended
	Sep. 29, 2013
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	6. Subsequent Events
	The Company has evaluated subsequent events through the time of filing these financial statements with the Securities and Exchange Commission on November 12, 2013, and has determined that no material subsequent events have occurred.

Note_7_Reclassifications

Note 7 - Reclassifications	3 Months Ended
	Sep. 29, 2013
Disclosure Text Block [Abstract]	'
Reclassifications [Text Block]	'
	7.  Reclassifications
	Certain previous year amounts have been reclassified to conform with current year presentation.

Note_2_Investments_Tables

Note 2 - Investments (Tables)	3 Months Ended
	Sep. 29, 2013
Investments, Debt and Equity Securities [Abstract]	'
Available-for-sale Securities [Table Text Block]	'
	29-Sep-13		Fair Value		Cost basis		Unrealized Gain
	Description
	Short-term investments		$	1,448,882	$	1,448,882	$	-
	Equity securities		$	5,120,924	$	1,140,656	$	3,980,268
	Mutual funds		$	3,472,989	$	3,432,986	$	40,003
	30-Jun-13		Fair Value		Cost basis		Unrealized Gain
	Description
	Short-term investments		$	949,815	$	949,815	$	-
	Equity securities		$	5,046,557	$	888,998	$	4,157,559
	Mutual funds		$	3,430,670	$	3,413,745	$	16,925
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	'
	29-Sep-13		Quoted		Significant Other		Significant Unobservable
			Price for Identical		Observable		Inputs
			Assets		Inputs		(Level 3)
	Description		(Level 1)		(Level 2)
	Certificates of deposits		$	-	$	1,448,882	$	-
	Equity securities			5,120,924		-		-
	Mutual funds			3,472,989		-		-
	Total		$	8,593,913	$	1,448,882	$	-
	30-Jun-13		Quoted		Significant Other		Significant
			Price for Identical		Observable Inputs		Unobservable Inputs
			Assets		(Level 2)		(Level 3)
	Description		(Level 1)
	Certificates of deposits		$	-	$	949,815	$	-
	Equity securities			5,046,557		-		-
	Mutual funds			3,430,670		-		-
	Total		$	8,477,227	$	949,815	$	-
Schedule Of Telecommunications Stocks Held [Table Text Block]	'
	82,112	shares of AT&T
	4,508	shares of Frontier Communications
	475	shares of LSI
	40,000	shares of Sprint
	11,865	shares of Vodafone
	2,520	shares of Manulife
	4,398	shares of CenturyLink
	412	shares of DexMedia
	774	shares of NCR
	28,784	shares of Verizon
	4,079	shares of Windstream
	774	shares of Teradata

Note_2_Investments_Details

Note 2 - Investments (Details)	3 Months Ended
	Sep. 29, 2013
Minimum [Member]	'
Note 2 - Investments (Details) [Line Items]	'
Short-Term Investments Maturities Term	'3 months
Maximum [Member]	'
Note 2 - Investments (Details) [Line Items]	'
Short-Term Investments Maturities Term	'1 year

Note_2_Investments_Details_Inv

Note 2 - Investments (Details) - Investments Schedule (USD $)	3 Months Ended	12 Months Ended
	Sep. 29, 2013	Jun. 30, 2013
Short-term Investment [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair Value	$1,448,882	$949,815
Cost Basis	1,448,882	949,815
Equity Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair Value	5,120,924	5,046,557
Cost Basis	1,140,656	888,998
Unrealized Gain	3,980,268	4,157,559
Mutual Funds [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Fair Value	3,472,989	3,430,670
Cost Basis	3,432,986	3,413,745
Unrealized Gain	$40,003	$16,925

Note_2_Investments_Details_Fai

Note 2 - Investments (Details) - Fair Value Heirarchy (USD $)	Sep. 29, 2013	Jun. 30, 2013
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	$8,593,913	$8,477,227
Fair Value, Inputs, Level 1 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	8,593,913	8,477,227
Fair Value, Inputs, Level 2 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	1,448,882	949,815
Fair Value, Inputs, Level 3 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	0	0
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	0	0
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	1,448,882	949,815
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	0	0
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	5,120,924	5,046,557
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	0	0
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	0	0
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	3,472,989	3,430,670
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	0	0
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member]	'	'
Note 2 - Investments (Details) - Fair Value Heirarchy [Line Items]	'	'
Fair values of investments	$0	$0

Note_2_Investments_Details_Tel

Note 2 - Investments (Details) - Telecommunications Stocks Held	Sep. 29, 2013
ATT [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	82,112
Frontier Communications [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	4,508
LSI [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	475
Sprint [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	40,000
Vodafone [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	11,865
Manulife [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	2,520
CenturyLink [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	4,398
DexMedia [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	412
NCR [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	774
Verizon [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	28,784
Windstream [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	4,079
Teradata [Member]	'
Note 2 - Investments (Details) - Telecommunications Stocks Held [Line Items]	'
Investment	774

Note_4_Employee_benefit_plans_

Note 4 - Employee benefit plans (Details)	3 Months Ended
	Sep. 29, 2013
Compensation and Retirement Disclosure [Abstract]	'
Number of Defined Contribution Plans	2