Company registration number 12464153 (England and Wales)
Bonanza Technology Limited
Unaudited financial statements
For the period ended 28 February 2021
Bonanza Technology Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Bonanza Technology Limited
Statement of financial position
as at 28 February 2021
28 February 2021
- 1 -
2021
Notes
£
£
Fixed assets
Intangible assets
2
11,703
Current assets
Cash at bank and in hand
13,153
Creditors: amounts falling due within one year
3
(2,019)
Net current assets
11,134
Net assets
22,837
Capital and reserves
Called up share capital
100
Share premium account
24,995
Profit and loss reserves
(2,258)
Total equity
22,837

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 12 August 2022
Mr N D Sansby
Director
Company Registration No. 12464153
Bonanza Technology Limited
Notes to the financial statements
For the period ended 28 February 2021
- 2 -
1
Accounting policies
Company information

Bonanza Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o DJH Mitten Clarke Limited, Festival Way, Stoke on Trent, Staffordshire, ST1 5SQ.

1.1
Reporting period

The reporting period is from the date of incorporation until 28th February 2021.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
Nil

Software cost are not yet amortised as they have not yet been brought into use.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Bonanza Technology Limited
Notes to the financial statements (continued)
For the period ended 28 February 2021
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Intangible fixed assets
Software
£
Cost
At 14 February 2020
-
0
Additions
11,703
At 28 February 2021
11,703
Amortisation and impairment
At 14 February 2020 and 28 February 2021
-
0
Carrying amount
At 28 February 2021
11,703
3
Creditors: amounts falling due within one year
2021
£
Other creditors
2,019
2021-02-282020-02-14false12 August 2022CCH SoftwareCCH Accounts Production 2022.200No description of principal activityMr N D Sansby0124641532020-02-142021-02-28124641532021-02-2812464153core:ComputerSoftware2021-02-2812464153core:CurrentFinancialInstrumentscore:WithinOneYear2021-02-2812464153core:ShareCapital2021-02-2812464153core:SharePremium2021-02-2812464153core:RetainedEarningsAccumulatedLosses2021-02-2812464153bus:Director12020-02-142021-02-2812464153core:IntangibleAssetsOtherThanGoodwill2020-02-142021-02-2812464153core:ComputerSoftware2020-02-142021-02-2812464153core:ComputerSoftware2020-02-1312464153core:ComputerSoftwarecore:ExternallyAcquiredIntangibleAssets2020-02-142021-02-2812464153core:CurrentFinancialInstruments2021-02-2812464153bus:PrivateLimitedCompanyLtd2020-02-142021-02-2812464153bus:SmallCompaniesRegimeForAccounts2020-02-142021-02-2812464153bus:FRS1022020-02-142021-02-2812464153bus:AuditExemptWithAccountantsReport2020-02-142021-02-2812464153bus:FullAccounts2020-02-142021-02-28xbrli:purexbrli:sharesiso4217:GBP