Company registration number 10526935 (England and Wales)
BONA FIDE MOBILE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
BONA FIDE MOBILE LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
4 - 7
BONA FIDE MOBILE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
2,129
1,927
Investments
5
3
3
2,132
1,930
Current assets
Trade and other receivables
6
84,664
543,341
Cash and cash equivalents
931,110
1,629,301
1,015,774
2,172,642
Current liabilities
7
(178,007)
(154,776)
Net current assets
837,767
2,017,866
Total assets less current liabilities
839,899
2,019,796
Provisions for liabilities
(532)
-
0
Net assets
839,367
2,019,796
Equity
Called up share capital
160
240
Capital redemption reserve
80
-
0
Retained earnings
839,127
2,019,556
Total equity
839,367
2,019,796

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

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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 year 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.

BONA FIDE MOBILE LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 September 2023 and are signed on its behalf by:
Mr I  Simunic
Director
Company Registration No. 10526935
BONA FIDE MOBILE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
Share capital
Capital redemption reserve
Retained earnings
Total
Notes
£
£
£
£
Balance at 1 January 2021
3
-
0
1,899,337
1,899,340
Year ended 31 December 2021:
Profit and total comprehensive income for the year
-
-
318,219
318,219
Issue of share capital
237
-
-
237
Dividends
-
-
(198,000)
(198,000)
Balance at 31 December 2021
240
-
0
2,019,556
2,019,796
Year ended 31 December 2022:
Profit and total comprehensive income for the year
-
-
79,571
79,571
Dividends
-
-
(660,000)
(660,000)
Own shares acquired
-
-
(600,000)
(600,000)
Redemption of shares
(80)
80
-
0
-
0
Balance at 31 December 2022
160
80
839,127
839,367
BONA FIDE MOBILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
1
Accounting policies
Company information

Bona Fide Mobile Limited is a private company limited by shares incorporated in England and Wales. The registered office is Market Chambers, 3-4 Market Place, Wokingham, Berkshire, RG40 1AL.

1.1
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.

1.2
Revenue

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Revenue for the provision of services is recognised in the accounting period in which the services are rendered when the outcome of the contract can be estimated reliably.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Fixtures and fittings
25% Straight line
Computers
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Non-current investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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.

BONA FIDE MOBILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
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.

Basic financial assets

Basic financial assets, which include trade and other receivables 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BONA FIDE MOBILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
3
3
BONA FIDE MOBILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
4
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 January 2022
3,646
Additions
1,255
At 31 December 2022
4,901
Depreciation and impairment
At 1 January 2022
1,719
Depreciation charged in the year
1,053
At 31 December 2022
2,772
Carrying amount
At 31 December 2022
2,129
At 31 December 2021
1,927
5
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
3
3
6
Trade and other receivables
2022
2021
Amounts falling due within one year:
£
£
Trade receivables
51,888
52,663
Other receivables
32,776
490,678
84,664
543,341
7
Current liabilities
2022
2021
£
£
Trade payables
105,018
57,154
Taxation and social security
51,357
92,627
Other payables
21,632
4,995
178,007
154,776
2022-12-312022-01-01false30 September 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMr T BroadfootMr C HempstockMr I Simunic105269352022-01-012022-12-31105269352022-12-31105269352021-12-3110526935core:OtherPropertyPlantEquipment2022-12-3110526935core:OtherPropertyPlantEquipment2021-12-3110526935core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3110526935core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3110526935core:CurrentFinancialInstruments2022-12-3110526935core:CurrentFinancialInstruments2021-12-3110526935core:ShareCapital2022-12-3110526935core:ShareCapital2021-12-3110526935core:CapitalRedemptionReserve2022-12-3110526935core:CapitalRedemptionReserve2021-12-3110526935core:RetainedEarningsAccumulatedLosses2022-12-3110526935core:RetainedEarningsAccumulatedLosses2021-12-3110526935core:ShareCapital2020-12-3110526935core:CapitalRedemptionReservecore:RestatedAmount2020-12-3110526935core:RetainedEarningsAccumulatedLosses2020-12-3110526935bus:Director32022-01-012022-12-3110526935core:RetainedEarningsAccumulatedLosses2021-01-012021-12-31105269352021-01-012021-12-3110526935core:RetainedEarningsAccumulatedLosses2022-01-012022-12-3110526935core:ShareCapital2021-01-012021-12-3110526935core:ShareCapital2022-01-012022-12-3110526935core:FurnitureFittings2022-01-012022-12-3110526935core:ComputerEquipment2022-01-012022-12-3110526935core:OtherPropertyPlantEquipment2021-12-3110526935core:OtherPropertyPlantEquipment2022-01-012022-12-3110526935core:WithinOneYear2022-12-3110526935core:WithinOneYear2021-12-3110526935bus:PrivateLimitedCompanyLtd2022-01-012022-12-3110526935bus:SmallCompaniesRegimeForAccounts2022-01-012022-12-3110526935bus:FRS1022022-01-012022-12-3110526935bus:AuditExemptWithAccountantsReport2022-01-012022-12-3110526935bus:Director12022-01-012022-12-3110526935bus:Director22022-01-012022-12-3110526935bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP