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BONDECK LIMITED

Registered Number
05197658
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

BONDECK LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

BOND, Richard Stephen

Registered Address

Unit C Anchor House School Lane
Chandler's Ford
Eastleigh
SO53 4DY

Place of Business

Morgans Yard

Shepherds Road

Bartley

Nr Cadnam Hampshire

SO40 2LH


Registered Number

05197658 (England and Wales)
BONDECK LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6392,507488,500
Investments79,5509,550
402,057498,050
Current assets
Debtors290,578275,314
Cash at bank and on hand539,986323,328
830,564598,642
Creditors amounts falling due within one year13(74,429)(68,511)
Net current assets (liabilities)756,135530,131
Total assets less current liabilities1,158,1921,028,181
Creditors amounts falling due after one year14(21,343)(81,619)
Provisions for liabilities(73,042)(52,560)
Net assets1,063,807894,002
Capital and reserves
Called up share capital172,108172,108
Profit and loss account891,699721,894
Shareholders' funds1,063,807894,002
The financial statements were approved and authorised for issue by the Director on 31 August 2023, and are signed on its behalf by:
BOND, Richard Stephen
Director
Registered Company No. 05197658
BONDECK LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Fixtures and fittings-5
Vehicles25-
Office Equipment-5
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year55
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 July 221,771,082
Additions119,936
Disposals(142,564)
At 30 June 231,748,454
Depreciation and impairment
At 01 July 221,282,582
Charge for year140,749
On disposals(67,384)
At 30 June 231,355,947
Net book value
At 30 June 23392,507
At 30 June 22488,500
7.Fixed asset investments

Total

£
Cost or valuation
At 01 July 229,550
At 30 June 239,550
Net book value
At 30 June 239,550
At 30 June 229,550
8.Contingent liabilities, including financial effect, uncertainties and possible reimbursement
Bondeck Limited has provided guarantee's for personal bank loans in the name of the director R S Bond. At the 30th June 2023 the total contingent liability on all such loans totalled £ 188,158 ( 2022 - £ 224862 )
9.Description of nature of transactions and balances with related parties
Management charges payable for the year of £50,000 ( 2022-£14,112 ) relate to fees payable to Bond Brick Limited, a company in which the director Mr R S Bond is also a director and shareholder. At the year end £90,707 ( 2022-£123,388 ) was owed by the related party. During the year rental charges of £17,100 ( 2022-£17,100 ) were paid to Bond Property Holdings Ltd for the continued use of business premises. A company in which the director R S Bond is also a director and shareholder. At the year end £nil ( 2022-£nil ) was owed by/to the related party.
10.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
BOND, Richard Stephen9,50463,8899,50463,889
9,50463,8899,50463,889
11.Dividends proposed and payable

2023

2022

££
Dividends Paid11,40027,000
Total11,40027,000
12.Debtors within one year

2023

2022

££
Trade debtors / trade receivables99,518116,000
Amounts owed by associates and joint ventures / participating interests63,8899,504
Other debtors116,765149,810
Prepayments and accrued income10,406-
Total290,578275,314
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
13.Creditors within one year

2023

2022

££
Trade creditors / trade payables11,92840,493
Bank borrowings and overdrafts12,08611,703
Taxation and social security47,3264,400
Finance lease and HP contracts-3,759
Other creditors823908
Accrued liabilities and deferred income2,2667,248
Total74,42968,511
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
14.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts21,34331,202
Other creditors-50,417
Total21,34381,619
15.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts-50,418