Bowl America (BWL.A) 10-Q 12 Nov 14 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Sep. 28, 2014	Nov. 10, 2014	Nov. 10, 2014
		Common Class A [Member]	Common Class B [Member]
Entity Registrant Name	'BOWL AMERICA INC	'	'
Entity Central Index Key	'0000013573	'	'
Current Fiscal Year End Date	'--06-29	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Common Stock, Shares Outstanding (in shares)	'	3,746,454	1,414,517
Document Type	'10-Q	'	'
Document Period End Date	28-Sep-14	'	'
Document Fiscal Year Focus	'2015	'	'
Document Fiscal Period Focus	'Q1	'	'
Amendment Flag	'false	'	'

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Earnings (Unaudited) (USD $)	3 Months Ended
	Sep. 28, 2014	Sep. 29, 2013
Operating Revenues:	'	'
Bowling and other	$3,301,343	$3,395,226
Food, beverage and merchandise sales	1,328,001	1,355,048
Total Operating Revenue	4,629,344	4,750,274
Operating Expenses:	'	'
Employee compensation and benefits	2,753,227	2,813,723
Cost of bowling and other services	1,528,706	1,558,187
Cost of food, beverage and merchandise sales	435,190	436,801
Depreciation and amortization	325,392	355,292
General and administrative	217,353	206,277
Total Operating Expenses	5,259,868	5,370,280
Operating Loss	-630,524	-620,006
Interest, dividend and other income	146,307	138,769
Loss from continuing operations before provision for income tax benefit	-484,217	-481,237
Provision for income tax benefit	-169,500	-168,400
Net loss from continuing operations	-314,717	-312,837
Loss from discontinued operations, net of tax	'	-5,553
Net loss	-314,717	-318,390
Loss per share-basic & diluted	'	'
Continuing operations (in dollars per share)	($0.06)	($0.06)
Discontinued operations (in dollars per share)	$0	$0
Net loss per share (in dollars per share)	($0.06)	($0.06)
Weighted average shares outstanding (in shares)	5,160,971	5,160,971
Dividends paid	$877,365	$851,561
Common Class A [Member]	'	'
Loss per share-basic & diluted	'	'
Per share, dividends paid (in dollars per share)	$0.17	$0.17
Common Class B [Member]	'	'
Loss per share-basic & diluted	'	'
Per share, dividends paid (in dollars per share)	$0.17	$0.17

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Earnings (Unaudited) (USD $)	3 Months Ended
	Sep. 28, 2014	Sep. 29, 2013
Net Loss	($314,717)	($318,390)
Other comprehensive earnings-net of tax	'	'
Unrealized (loss) gain on available- for-sale securities net of tax benefit of $25,790 and $58,754	-41,899	-95,458
Comprehensive Loss	($356,616)	($413,848)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Earnings (Unaudited) (Parentheticals) (USD $)	3 Months Ended
	Sep. 28, 2014	Sep. 29, 2013
Unrealized loss (gain) on available-for-sale securities, tax (benefit)	$25,790	$58,754

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 28, 2014	Jun. 29, 2014
CURRENT ASSETS:	'	'
Cash and cash equivalents	$1,303,145	$842,114
Short-term investments	133,549	1,453,326
Inventories	602,681	520,355
Prepaid expenses and other	210,265	610,416
Income taxes refundable	312,856	312,856
Current deferred income tax	169,500	'
TOTAL CURRENT ASSETS	2,731,996	3,739,067
LAND, BUILDINGS & EQUIPMENT, net of accumulated depreciation of $39,661,343 and $39,358,295	20,877,722	20,887,127
OTHER ASSETS:	'	'
Quoted Price for Identical Assets	8,936,100	8,979,499
Cash surrender value-life insurance	677,922	677,922
Other	80,165	80,165
TOTAL OTHER ASSETS	9,694,187	9,737,586
TOTAL ASSETS	33,303,905	34,363,780
CURRENT LIABILITIES:	'	'
Accounts payable	495,578	681,509
Accrued expenses	882,566	1,091,098
Dividends payable	877,365	877,365
Other current liabilities	902,427	308,068
Current deferred income taxes	24,705	24,705
TOTAL CURRENT LIABILITIES	3,182,641	2,982,745
LONG-TERM DEFERRED COMPENSATION	34,088	34,088
NONCURRENT DEFERRED INCOME TAXES	2,342,426	2,368,216
TOTAL LIABILITIES	5,559,155	5,385,049
COMMITMENTS AND CONTINGENCIES	'	'
STOCKHOLDERS' EQUITY	'	'
Preferred stock, par value $10 a share: Authorized and unissued, 2,000,000 shares	'	'
Common stock, par value $.10 a share: Authorized, 10,000,000 shares	'	'
Additional paid-in capital	7,849,814	7,849,814
Accumulated other comprehensive earnings-	'	'
Unrealized gain on available-for-sale securities, net of tax	2,550,704	2,592,603
Retained earnings	16,828,135	18,020,217
TOTAL STOCKHOLDERS' EQUITY	27,744,750	28,978,731
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	33,303,905	34,363,780
Common Class A [Member]	'	'
Common stock, par value $.10 a share: Authorized, 10,000,000 shares	'	'
Common stock	374,645	374,645
Common Class B [Member]	'	'
Common stock, par value $.10 a share: Authorized, 10,000,000 shares	'	'
Common stock	$141,452	$141,452

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Sep. 28, 2014	Jun. 29, 2014
Accumulated depreciation	$39,661,343	$39,358,295
Preferred stock, par value (in dollars per share)	$10	$10
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common Class A [Member]	'	'
Common stock, par value (in dollars per share)	$0.10	$0.10
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 Class B [Member]	'	'
Common stock, par value (in dollars per share)	$0.10	$0.10
Common stock, shares issued (in shares)	1,414,517	1,414,517
Common stock, shares outstanding (in shares)	1,414,517	1,414,517

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Sep. 28, 2014	Sep. 29, 2013
Cash Flows From Operating Activities	'	'
Net loss	($314,717)	($318,390)
Adjustments to reconcile net loss to net cash provided by operating activities:	'	'
Depreciation and amortization	325,392	355,292
Changes in assets and liabilities	'	'
Increase in inventories	-82,326	-141,799
Decrease in prepaid & other	400,151	214,098
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	-169,500	-171,500
Decrease increase in accounts payable	-185,931	-264,128
Decrease in accrued expenses	-208,532	-77,374
Increase in other current liabilities	594,359	563,883
Net cash provided by operating activities	358,896	6,655
Cash Flows From Investing Activities	'	'
Expenditures for land, building and equipment	-315,987	-44,422
Net sales & maturities (purchases) of short-term investments	1,319,777	-499,067
Purchases of marketable securities	-24,290	-270,898
Net cash provided by (used by) investing activities	979,500	-814,387
Cash Flows From Financing Activities	'	'
Payment of cash dividends	-877,365	-851,561
Net cash used in financing activities	-877,365	-851,561
Net Increase (decrease) in Cash and Equivalents	461,031	-1,659,293
Cash and Cash Equivalents, Beginning of period	842,114	3,437,780
Cash and Cash Equivalents, End of period	1,303,145	1,778,487
Supplemental Disclosures of Cash Flow Information	'	'
Income taxes	'	$157,227

Note_1_Basis_for_Presentation

Note 1 - Basis for Presentation	3 Months Ended
	Sep. 28, 2014
Notes to Financial Statements	'
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 29, 2014 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 29, 2014.

Note_2_Investments

Note 2 - Investments	3 Months Ended
	Sep. 28, 2014
Notes to Financial Statements	'
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 28, 2014 and June 29, 2014 were as follows:
	Septemb		Fair Value		Cost basis		Unrealized Gain
	er
	28
	, 201
	4
	Description
	Short-term investments		$	133,549	$	133,549	$	-
	Equity securities		$	5,319,759	$	1,285,759	$	4,034,000
	Mutual funds		$	3,616,341	$	3,529,677	$	86,664
	Ju		Fair Value		Cost basis		Unrealized Gain
	ne
	29
	, 201
	4
	Description
	Short-term investments		$	1,453,326	$	1,453,326	$	-
	Equity securities		$	5,373,986	$	1,285,759	$	4,088,227
	Mutual funds		$	3,605,513	$	3,505,388	$	100,125
	The fair values of the Company’s investments were determined as follows:
	28-Sep-14		Quoted		Significant		Significant
			Price for		Other		Unobservable
			Identical Assets		Observable		Inputs
			(Level 1)		Inputs		(Level 3)
	Description				(Level 2)
	Certificates of deposits		$	-	$	133,549	$	-
	Equity securities			5,319,759		-		-
	Mutual funds			3,616,341		-		-
	Total		$	8,936,100	$	133,549	$	-
	29-Jun-14		Quoted		Significant		Significant
			Price for		Other		Unobservable
			Identical Assets		Observable		Inputs
			(Level 1)		Inputs		(Level 3)
	Description				(Level 2)
	Certificates of deposits		$	-	$	1,453,326	$	-
	Equity securities			5,373,986		-		-
	Mutual funds			3,605,513		-		-
	Total		$	8,979,499	$	1,453,326	$	-
	The stocks included in the portfolio as of September 28, 2014 were:
	82,112	shares of AT&T	4,398	shares of CenturyLink
	4,508	shares of Frontier Communications	412	shares of DexMedia
	774	shares of Teradata	774	shares of NCR
	40,000	shares of Sprint	31,904	shares of Verizon
	6,471	shares of Vodafone	4,079	shares of Windstream
	2,520	shares of Manulife
	The Mutual fund included in the table above is Vanguard GNMA Admiral Shares #536 fund. The fair value of certificates of deposits is estimated using 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. 28, 2014
Notes to Financial Statements	'
Commitments and Contingencies Disclosure [Text Block]	'
	3.  Commitments and Contingencies
	The Company’s purchase commitments at September 28, 2014, 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. 28, 2014
Notes to Financial Statements	'
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_Standard

Note 5 - New Accounting Standards	3 Months Ended
	Sep. 28, 2014
Notes to Financial Statements	'
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 28, 2014, that would impact the
	Company.

Note_6_Subsequent_Events

Note 6 - Subsequent Events	3 Months Ended
	Sep. 28, 2014
Notes to Financial Statements	'
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, 2014, and has determined that no material subsequent events have occurred.

Note_7_Reclassifications

Note 7 - Reclassifications	3 Months Ended
	Sep. 28, 2014
Notes to Financial Statements	'
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. 28, 2014
Notes Tables	'
Available-for-sale Securities [Table Text Block]	'
	Septemb		Fair Value		Cost basis		Unrealized Gain
	er
	28
	, 201
	4
	Description
	Short-term investments		$	133,549	$	133,549	$	-
	Equity securities		$	5,319,759	$	1,285,759	$	4,034,000
	Mutual funds		$	3,616,341	$	3,529,677	$	86,664
	Ju		Fair Value		Cost basis		Unrealized Gain
	ne
	29
	, 201
	4
	Description
	Short-term investments		$	1,453,326	$	1,453,326	$	-
	Equity securities		$	5,373,986	$	1,285,759	$	4,088,227
	Mutual funds		$	3,605,513	$	3,505,388	$	100,125
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	'
	28-Sep-14		Quoted		Significant		Significant
			Price for		Other		Unobservable
			Identical Assets		Observable		Inputs
			(Level 1)		Inputs		(Level 3)
	Description				(Level 2)
	Certificates of deposits		$	-	$	133,549	$	-
	Equity securities			5,319,759		-		-
	Mutual funds			3,616,341		-		-
	Total		$	8,936,100	$	133,549	$	-
	29-Jun-14		Quoted		Significant		Significant
			Price for		Other		Unobservable
			Identical Assets		Observable		Inputs
			(Level 1)		Inputs		(Level 3)
	Description				(Level 2)
	Certificates of deposits		$	-	$	1,453,326	$	-
	Equity securities			5,373,986		-		-
	Mutual funds			3,605,513		-		-
	Total		$	8,979,499	$	1,453,326	$	-
Schedule Of Telecommunications Stocks Held [Table Text Block]	'
	82,112	shares of AT&T	4,398	shares of CenturyLink
	4,508	shares of Frontier Communications	412	shares of DexMedia
	774	shares of Teradata	774	shares of NCR
	40,000	shares of Sprint	31,904	shares of Verizon
	6,471	shares of Vodafone	4,079	shares of Windstream
	2,520	shares of Manulife

Note_2_Investments_Details_Tex

Note 2 - Investments (Details Textual)	3 Months Ended
	Sep. 28, 2014
Maximum [Member]	'
Short Term Investments Maturities Term	'1 year
Minimum [Member]	'
Short Term Investments Maturities Term	'90 days

Note_2_Investments_Investments

Note 2 - Investments - Investments Schedule (Details) (USD $)	3 Months Ended	12 Months Ended
	Sep. 28, 2014	Jun. 29, 2014
Equity Securities [Member]	'	'
Fair Value	$5,319,759	$5,373,986
Cost basis	1,285,759	1,285,759
Unrealized Gain	4,034,000	4,088,227
Short-term Investments [Member]	'	'
Fair Value	133,549	1,453,326
Cost basis	133,549	1,453,326
Mutual Funds [Member]	'	'
Fair Value	3,616,341	3,605,513
Cost basis	3,529,677	3,505,388
Unrealized Gain	$86,664	$100,125

Note_2_Investments_Fair_Value_

Note 2 - Investments - Fair Value Heirarchy (Details) (USD $)	Sep. 28, 2014	Jun. 29, 2014
Quoted Price for Identical Assets	$8,936,100	$8,979,499
Fair Value, Inputs, Level 1 [Member]	'	'
Quoted Price for Identical Assets	8,936,100	8,979,499
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member]	'	'
Quoted Price for Identical Assets	5,319,759	5,373,986
Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member]	'	'
Quoted Price for Identical Assets	3,616,341	3,605,513
Fair Value, Inputs, Level 2 [Member]	'	'
Quoted Price for Identical Assets	133,549	1,453,326
Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member]	'	'
Quoted Price for Identical Assets	$133,549	$1,453,326

Note_2_Investments_Telecommuni

Note 2 - Investments - Telecommunications Stocks Held (Details)	Sep. 28, 2014
ATT [Member]	'
Investment	82,112
Century Link [Member]	'
Investment	4,398
DexMedia [Member]	'
Investment	412
Frontier Communications [Member]	'
Investment	4,508
Manulife [Member]	'
Investment	2,520
NCR [Member]	'
Investment	774
Sprint [Member]	'
Investment	40,000
Teradata [Member]	'
Investment	774
Verizon [Member]	'
Investment	31,904
Vodafone [Member]	'
Investment	6,471
Windstream [Member]	'
Investment	4,079

Note_4_Employee_Benefit_Plans_

Note 4 - Employee Benefit Plans (Details Textual)	3 Months Ended
	Sep. 28, 2014
Number of Defined Contribution Plans	2