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REGISTERED NUMBER: 03018597 (England and Wales)















BONDLOC (UK) LIMITED

Unaudited Financial Statements for the Year Ended 31 January 2024






BONDLOC (UK) LIMITED (REGISTERED NUMBER: 03018597)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

BONDLOC (UK) LIMITED

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M Adams
W Wilkinson





SECRETARY: M Adams





REGISTERED OFFICE: Unit 2
Bewdley Business Park
Long Bank
Bewdley
Worcestershire
DY12 2TZ





REGISTERED NUMBER: 03018597 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

BONDLOC (UK) LIMITED (REGISTERED NUMBER: 03018597)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,179 70,930

CURRENT ASSETS
Stocks 597,974 631,378
Debtors 5 740,195 685,244
Cash at bank and in hand 271,852 38,574
1,610,021 1,355,196
CREDITORS
Amounts falling due within one year 6 449,392 318,508
NET CURRENT ASSETS 1,160,629 1,036,688
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,209,808

1,107,618

CREDITORS
Amounts falling due after more than one
year

7

(21,077

)

(27,078

)

PROVISIONS FOR LIABILITIES (9,203 ) (13,305 )
NET ASSETS 1,179,528 1,067,235

CAPITAL AND RESERVES
Called up share capital 8 102 102
Retained earnings 1,179,426 1,067,133
SHAREHOLDERS' FUNDS 1,179,528 1,067,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

BONDLOC (UK) LIMITED (REGISTERED NUMBER: 03018597)

Balance Sheet - continued
31 January 2024


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 22 May 2024 and were signed on its behalf by:





W Wilkinson - Director


BONDLOC (UK) LIMITED (REGISTERED NUMBER: 03018597)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Bondloc (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 10% on cost

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
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes 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 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.

BONDLOC (UK) LIMITED (REGISTERED NUMBER: 03018597)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
At the date of signing these accounts, the directors believe that the company has sufficient reserves to enable the business to continue for the foreseeable future, and therefore continues to prepare the accounts on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 29 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023 773,843 16,500 790,343
Additions 7,709 - 7,709
At 31 January 2024 781,552 16,500 798,052
DEPRECIATION
At 1 February 2023 702,913 16,500 719,413
Charge for year 29,460 - 29,460
At 31 January 2024 732,373 16,500 748,873
NET BOOK VALUE
At 31 January 2024 49,179 - 49,179
At 31 January 2023 70,930 - 70,930

BONDLOC (UK) LIMITED (REGISTERED NUMBER: 03018597)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 512,776 525,592
Other debtors 87,840 87,840
Directors' loan accounts 82,143 31,396
Tax 55,237 38,744
Prepayments 2,199 1,672
740,195 685,244

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 113,078 152,446
Social security and other taxes 305,046 116,955
Other creditors 3,090 9,926
Factoring account - 2,470
Accrued expenses 12,791 11,438
Deferred government grants 5,387 15,273
449,392 318,508

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans more 5 yrs non-inst 15,000 25,000
Deferred government grants 6,077 2,078
21,077 27,078

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 15,000 25,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
2 Ordinary £1 2 2
100 Ordinary B £1 100 100
102 102

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Bondloc (UK) Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bondloc (UK) Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bondloc (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bondloc (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Bondloc (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bondloc (UK) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bondloc (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bondloc (UK) Limited. You consider that Bondloc (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bondloc (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


22 May 2024