Registered number
03686188
Bonnefare Limited
Unaudited Filleted Accounts
31 December 2023
Bonnefare Limited
Registered number: 03686188
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 720,337 724,886
Grant received 4 (105,000) (105,000)
615,337 619,886
Current assets
Debtors 5 740 707
Cash at bank and in hand 28,248 6,519
28,988 7,226
Creditors: amounts falling due within one year 6 (126,254) (95,192)
Net current liabilities (97,266) (87,966)
Total assets less current liabilities 518,071 531,920
Creditors: amounts falling due after more than one year 7 (214,270) (246,325)
Provisions for liabilities (188) (251)
Net assets 303,613 285,344
Capital and reserves
Called up share capital 100 100
Profit and loss account 303,513 285,244
Shareholder's funds 303,613 285,344
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S.Yendell
Director
Approved by the board on 10 September 2024
Bonnefare Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from rents receivable during the year.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Plant and machinery 25% on written down value
Motor vehicle 25% on written down value
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 706,690 21,962 30,000 758,652
At 31 December 2023 706,690 21,962 30,000 758,652
Depreciation
At 1 January 2023 - 20,641 13,125 33,766
Charge for the year - 330 4,219 4,549
At 31 December 2023 - 20,971 17,344 38,315
Net book value
At 31 December 2023 706,690 991 12,656 720,337
At 31 December 2022 706,690 1,321 16,875 724,886
4 Grant received
Other
investments
£
Cost
At 1 January 2023 (105,000)
At 31 December 2023 (105,000)
5 Debtors 2023 2022
£ £
Other debtors 740 707
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,377 5,079
Trade creditors 53,034 50,839
Taxation and social security costs 35,565 34,476
Other creditors 32,278 4,798
126,254 95,192
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 214,270 246,325
8 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 205,072 231,103
Secured bank loans 205,072 231,103
The commercial mortgages are secured by a fixed charge over the freehold properties.
9 Controlling party
The controlling party is S.Yendell by virtue of her ownership of 100% of the issued Ordinary share capital of the company.
10 Other information
Bonnefare Limited is a private company limited by shares and incorporated in England. Its registered office is:
Stirling House, Sunderland Quay,
Culpeper Close,
Rochester,
Kent,
ME2 4HN.
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