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REGISTERED NUMBER: 01994113 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BONNERS LIMITED

BONNERS LIMITED (REGISTERED NUMBER: 01994113)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BONNERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: A J White





SECRETARY: A J White





REGISTERED OFFICE: 30 - 34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 01994113 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

BONNERS LIMITED (REGISTERED NUMBER: 01994113)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,300,853 1,464,180
Investment property 6 1,537,000 1,537,000
2,837,853 3,001,180

CURRENT ASSETS
Stocks 1,059,778 948,854
Debtors 7 28,959 25,984
Cash at bank and in hand 1,367,749 934,775
2,456,486 1,909,613
CREDITORS
Amounts falling due within one year 8 (1,492,579 ) (1,280,702 )
NET CURRENT ASSETS 963,907 628,911
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,801,760

3,630,091

CREDITORS
Amounts falling due after more than one
year

9

(1,117,384

)

(1,191,033

)

PROVISIONS FOR LIABILITIES (111,139 ) (140,552 )
NET ASSETS 2,573,237 2,298,506

CAPITAL AND RESERVES
Called up share capital 11 600 600
Non distributable reserves 485,385 704,667
Retained earnings 2,087,252 1,593,239
SHAREHOLDERS' FUNDS 2,573,237 2,298,506

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

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

The director acknowledges his 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.

BONNERS LIMITED (REGISTERED NUMBER: 01994113)

BALANCE SHEET - continued
31 DECEMBER 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 director and authorised for issue on 25 September 2024 and were signed by:





A J White - Director


BONNERS LIMITED (REGISTERED NUMBER: 01994113)

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

1. STATUTORY INFORMATION

Bonners 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of one years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

No provision for depreciation is made in respect of the freehold properties as the directors consider such a charge to be immaterial. Annual impairment reviews are conducted to support the carrying value with any diminution in value being recognised in the period in which it occurs.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from bank and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at the amortised cost using the effective interest method

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is no intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


BONNERS LIMITED (REGISTERED NUMBER: 01994113)

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

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 38,000
AMORTISATION
At 1 January 2023
and 31 December 2023 38,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

BONNERS LIMITED (REGISTERED NUMBER: 01994113)

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

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 January 2023 1,128,035 575,727 49,343
Additions - - 7,063
Disposals - - -
At 31 December 2023 1,128,035 575,727 56,406
DEPRECIATION
At 1 January 2023 - 309,099 37,910
Charge for year - 147,789 3,865
Eliminated on disposal - - -
At 31 December 2023 - 456,888 41,775
NET BOOK VALUE
At 31 December 2023 1,128,035 118,839 14,631
At 31 December 2022 1,128,035 266,628 11,433

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 279,521 79,239 2,111,865
Additions 922 - 7,985
Disposals - (14,895 ) (14,895 )
At 31 December 2023 280,443 64,344 2,104,955
DEPRECIATION
At 1 January 2023 253,983 46,693 647,685
Charge for year 6,809 6,565 165,028
Eliminated on disposal - (8,611 ) (8,611 )
At 31 December 2023 260,792 44,647 804,102
NET BOOK VALUE
At 31 December 2023 19,651 19,697 1,300,853
At 31 December 2022 25,538 32,546 1,464,180

Cost or valuation at 31 December 2023 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2022 - (144,068 ) -
Cost 1,128,035 719,795 56,406
1,128,035 575,727 56,406

BONNERS LIMITED (REGISTERED NUMBER: 01994113)

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

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2022 - - (144,068 )
Cost 280,443 64,344 2,249,023
280,443 64,344 2,104,955

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,537,000
NET BOOK VALUE
At 31 December 2023 1,537,000
At 31 December 2022 1,537,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2008 26,570
Valuation in 2001 38,330
Valuation in 2011 236,207
Valuation in 2012 15,000
Valuation in 2018 150,000
Valuation in 2022 64,375
Cost 1,006,518
1,537,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,006,518 1,006,518

Investment property was valued on an open market basis on 31 December 2023 by the Directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 506 -
Other debtors 13,569 11,100
Prepayments 14,884 14,884
28,959 25,984

BONNERS LIMITED (REGISTERED NUMBER: 01994113)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 70,000 70,000
Hire purchase contracts 3,605 3,276
Trade creditors 872,880 673,637
Tax 201,979 132,934
Social security and other taxes 10,509 8,533
VAT 110,169 137,788
Other creditors 223,170 254,367
Directors' current accounts 87 17
Accrued expenses 180 150
1,492,579 1,280,702

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 70,000 70,000
Bank loans - 2-5 years 1,045,500 1,115,500
Hire purchase contracts 1,884 5,533
1,117,384 1,191,033

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,185,500 1,255,500

The debts are secured by fixed charge over freehold and investment property.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £5 250 250
50 Ordinary C £1 50 50
50 Ordinary D £5 250 250
600 600