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REGISTERED NUMBER: 01027955 (England and Wales)















BONDCLIFF LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






BONDCLIFF LIMITED (REGISTERED NUMBER: 01027955)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


BONDCLIFF LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: C R Ringham
Mrs S J Ringham





SECRETARY: Mrs S J Ringham





REGISTERED OFFICE: The Old Vicarage
Main Street
Farnsfield
Newark
Nottinghamshire
NG22 8EA





REGISTERED NUMBER: 01027955 (England and Wales)





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

BONDCLIFF LIMITED (REGISTERED NUMBER: 01027955)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 25,348 31,620
Investment property 5 7,480,000 7,550,000
7,505,348 7,581,620

CURRENT ASSETS
Debtors 6 44,083 6,667
Cash at bank 2,961,491 2,490,697
3,005,574 2,497,364
CREDITORS
Amounts falling due within one year 7 208,028 187,671
NET CURRENT ASSETS 2,797,546 2,309,693
TOTAL ASSETS LESS CURRENT LIABILITIES 10,302,894 9,891,313

PROVISIONS FOR LIABILITIES 281,000 287,000
NET ASSETS 10,021,894 9,604,313

CAPITAL AND RESERVES
Called up share capital 8 65 65
Share premium 29,985 29,985
Fair value reserve 9 1,201,117 1,225,117
Retained earnings 8,790,727 8,349,146
SHAREHOLDERS' FUNDS 10,021,894 9,604,313

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

BONDCLIFF LIMITED (REGISTERED NUMBER: 01027955)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 24 July 2024 and were signed on its behalf by:




C R Ringham - Director



Mrs S J Ringham - Director


BONDCLIFF LIMITED (REGISTERED NUMBER: 01027955)

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

1. STATUTORY INFORMATION

Bondcliff 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 represents the rents payable to the company in respect of the accounting period, excluding value added tax.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 10% on reducing balance

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Investment properties
In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) investment property is revalued annually and the aggregate surplus or deficit is transferred to the revaluation reserve. Depreciation is not provided in respect of investment property. The directors consider that this accounting policy is necessary in order to provide a true and fair view.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

BONDCLIFF LIMITED (REGISTERED NUMBER: 01027955)

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 63,020
DEPRECIATION
At 1 November 2022 31,400
Charge for year 6,272
At 31 October 2023 37,672
NET BOOK VALUE
At 31 October 2023 25,348
At 31 October 2022 31,620

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 7,550,000
Disposals (70,000 )
At 31 October 2023 7,480,000
NET BOOK VALUE
At 31 October 2023 7,480,000
At 31 October 2022 7,550,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2013 1,902,983
Valuation in 2014 100,000
Valuation in 2015 330,000
Valuation in 2016 219,600
Valuation in 2022 (1,070,464 )
Cost 5,997,881
7,480,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 5,997,881 6,037,881

Investment properties was valued on an open market basis on 19 October 2018 by the directors .

BONDCLIFF LIMITED (REGISTERED NUMBER: 01027955)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 500 2,540
Prepayments and accrued income 43,583 4,127
44,083 6,667

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,607 11,222
Taxation 118,310 86,283
Directors' loan accounts 20,286 19,284
Accruals and deferred income 65,825 70,882
208,028 187,671

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
65 Ordinary £1 65 65

9. RESERVES
Fair
value
reserve
£   
At 1 November 2022 1,225,117
Deferred tax movement 6,000
Transfer of gain on disposed property (30,000 )

At 31 October 2023 1,201,117