Company registration number 12464153 (England and Wales)
Bonanza Technology Limited
Unaudited financial statements
For the year ended 28 February 2024
Bonanza Technology Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Bonanza Technology Limited
Statement of financial position
As at 28 February 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
10,169
-
0
Cash at bank and in hand
21,371
47,065
31,540
47,065
Creditors: amounts falling due within one year
5
(11,622)
(13,885)
Net current assets
19,918
33,180
Creditors: amounts falling due after more than one year
6
(19,752)
(29,233)
Net assets
166
3,947
Capital and reserves
Called up share capital
100
100
Share premium account
24,995
24,995
Profit and loss reserves
(24,929)
(21,148)
Total equity
166
3,947

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 27 November 2024
Mr N D Sansby
Director
Company registration number 12464153 (England and Wales)
Bonanza Technology Limited
Notes to the financial statements
For the year ended 28 February 2024
- 2 -
1
Accounting policies
Company information

Bonanza Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Glades, Festival Way, Festival Park, Stoke on Trent, Staffordshire, ST1 5SQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
Nil

Software costs have been impaired in full.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank only.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Bonanza Technology Limited
Notes to the financial statements (continued)
For the year ended 28 February 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
Bonanza Technology Limited
Notes to the financial statements (continued)
For the year ended 28 February 2024
- 4 -
3
Intangible fixed assets
Software
£
Cost
At 1 March 2023 and 28 February 2024
11,703
Amortisation and impairment
At 1 March 2023 and 28 February 2024
11,703
Carrying amount
At 28 February 2024
-
0
At 28 February 2023
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
10,169
-
0

Included within other debtors is a balance of £4,000 (2023: £Nil) that is due to a related company under common control.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,481
9,481
Trade creditors
950
950
Taxation and social security
-
0
400
Other creditors
1,191
3,054
11,622
13,885
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
19,752
29,233
2024-02-282023-03-01false27 November 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr N D Sansbyfalsefalse124641532023-03-012024-02-28124641532024-02-28124641532023-02-2812464153core:CurrentFinancialInstrumentscore:WithinOneYear2024-02-2812464153core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2812464153core:Non-currentFinancialInstrumentscore:AfterOneYear2024-02-2812464153core:Non-currentFinancialInstrumentscore:AfterOneYear2023-02-2812464153core:CurrentFinancialInstruments2024-02-2812464153core:CurrentFinancialInstruments2023-02-2812464153core:ShareCapital2024-02-2812464153core:ShareCapital2023-02-2812464153core:SharePremium2024-02-2812464153core:SharePremium2023-02-2812464153core:RetainedEarningsAccumulatedLosses2024-02-2812464153core:RetainedEarningsAccumulatedLosses2023-02-2812464153bus:Director12023-03-012024-02-2812464153core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2812464153core:ComputerSoftware2023-03-012024-02-28124641532022-03-012023-02-2812464153core:ComputerSoftware2023-02-2812464153core:ComputerSoftware2024-02-2812464153core:ComputerSoftware2023-02-2812464153core:WithinOneYear2024-02-2812464153core:WithinOneYear2023-02-2812464153core:Non-currentFinancialInstruments2024-02-2812464153core:Non-currentFinancialInstruments2023-02-2812464153bus:PrivateLimitedCompanyLtd2023-03-012024-02-2812464153bus:SmallCompaniesRegimeForAccounts2023-03-012024-02-2812464153bus:FRS1022023-03-012024-02-2812464153bus:AuditExemptWithAccountantsReport2023-03-012024-02-2812464153bus:FullAccounts2023-03-012024-02-28xbrli:purexbrli:sharesiso4217:GBP