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REGISTERED NUMBER: 00151276 (England and Wales)















BONEHAM & TURNER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


BONEHAM & TURNER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: C E Boneham
P G Boneham





SECRETARY: P G Boneham





REGISTERED OFFICE: Oddicroft Industrial Estate
Oddicroft Lane
Sutton in Ashfield
Nottinghamshire
NG17 5FS





REGISTERED NUMBER: 00151276 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,992,803 2,017,011
Investments 5 58,252 58,252
Investment property 6 662,107 701,696
2,713,162 2,776,959

CURRENT ASSETS
Inventories 1,158,004 1,099,890
Debtors 7 827,982 1,081,858
Cash at bank and in hand 497,447 491,730
2,483,433 2,673,478
CREDITORS
Amounts falling due within one year 8 1,043,664 1,066,125
NET CURRENT ASSETS 1,439,769 1,607,353
TOTAL ASSETS LESS CURRENT LIABILITIES 4,152,931 4,384,312

CREDITORS
Amounts falling due after more than one year 9 (1,063,474 ) (1,208,026 )

PROVISIONS FOR LIABILITIES (265,563 ) (175,571 )

PENSION LIABILITY (174,237 ) (1,073,643 )
NET ASSETS 2,649,657 1,927,072

CAPITAL AND RESERVES
Called up share capital 11 16,000 16,000
Revaluation reserve 12 140,237 179,826
Capital redemption reserve 42,500 42,500
Retained earnings 2,450,920 1,688,746
SHAREHOLDERS' FUNDS 2,649,657 1,927,072

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:





P G Boneham - Director


BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Boneham & Turner Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost and 10% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Investment property
Investment property is valued at its market value on an annual basis. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

Inventories
Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of future payments is treated as a liability.

Pension costs and other post-retirement benefits
For defined benefit schemes the amounts charged to operating profit are the current service costs and gains and losses on settlements and curtailments. They are included as part of staff costs. Past service costs are recognised immediately in the income statement if the benefits have vested. If the benefits have not vested the costs are recognised over the period until vesting occurs. The interest cost and expected return on assets are shown as a net amount of other finance cost or credits adjacent to interest. Actuarial gains and losses are recognised immediately in other comprehensive income.

Defined benefit schemes are funded, with the assets of the scheme held separately from those of the company, in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate to the equivalent current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The resulting asset or liability, net of the related deferred tax, is presented separately after other net assets on the face of the statement of financial position.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2022 - 39 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 1,251,380 2,876,115 4,127,495
Additions - 170,213 170,213
At 31 July 2023 1,251,380 3,046,328 4,297,708
DEPRECIATION
At 1 August 2022 319,932 1,790,552 2,110,484
Charge for year 25,028 169,393 194,421
At 31 July 2023 344,960 1,959,945 2,304,905
NET BOOK VALUE
At 31 July 2023 906,420 1,086,383 1,992,803
At 31 July 2022 931,448 1,085,563 2,017,011



BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 400 57,852 58,252
NET BOOK VALUE
At 31 July 2023 400 57,852 58,252
At 31 July 2022 400 57,852 58,252

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 701,696
Revaluations (39,589 )
At 31 July 2023 662,107
NET BOOK VALUE
At 31 July 2023 662,107
At 31 July 2022 701,696

Fair value at 31 July 2023 is represented by:
£   
Valuation in 1316 122,411
Valuation in 2017 1,840
Valuation in 2018 1,277
Valuation in 2019 52,683
Valuation in 2020 (45,151 )
Valuation in 2021 (44,878 )
Valuation in 2022 91,643
Valuation in 2023 (39,589 )
Cost 521,871
662,107

The directors revalued the investment property with regard to market based evidence for similar properties sold in the local area.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 556,762 468,598
Amounts owed by group undertakings 211,536 502,247
Other debtors 59,684 111,013
827,982 1,081,858

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 66,866 59,366
Hire purchase contracts 188,988 166,652
Trade creditors 305,755 347,730
Taxation and social security 160,524 118,371
Other creditors 321,531 374,006
1,043,664 1,066,125

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 703,328 773,499
Hire purchase contracts 318,646 393,027
Other creditors 41,500 41,500
1,063,474 1,208,026

Amounts falling due in more than five years:

Repayable by instalments
Preference shares 41,500 41,500

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 770,194 832,865
Hire purchase contracts 507,634 559,679
1,277,828 1,392,544

The bank loan is secured against the freehold property and the hire purchase contracts are secured against the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
16,000 Ordinary shares £1 16,000 16,000

12. RESERVES
Revaluation
reserve
£   
At 1 August 2022 179,826
Property revaluation (39,589 )

At 31 July 2023 140,237

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable revaluation reserve in order to assist with the identification of profits available for distribution.

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

13. PENSION COMMITMENTS

The company had pensions commitments due as follows;

2023 2022
£ £
Within one year 82,400 82,400
Between one and two years 82,400 82,400
Between two and five years 247,200 247,200
After five years 576,800 659,200
988,800 1,071,200