IRIS Accounts Production v24.3.0.553 05888214 Board of Directors 1.1.23 31.12.23 31.12.23 10.1.25 false false false false true true true true true false Auditors Opinion Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh058882142022-12-31058882142023-12-31058882142023-01-012023-12-31058882142021-12-31058882142022-01-012022-12-31058882142022-12-3105888214ns15:EnglandWales2023-01-012023-12-3105888214ns14:PoundSterling2023-01-012023-12-3105888214ns10:Director12023-01-012023-12-3105888214ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105888214ns10:SmallEntities2023-01-012023-12-3105888214ns10:Audited2023-01-012023-12-3105888214ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105888214ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105888214ns10:FullAccounts2023-01-012023-12-3105888214ns10:OrdinaryShareClass12023-01-012023-12-3105888214ns10:Director22023-01-012023-12-3105888214ns10:CompanySecretary12023-01-012023-12-3105888214ns10:CompanySecretary22023-01-012023-12-3105888214ns10:RegisteredOffice2023-01-012023-12-3105888214ns5:CurrentFinancialInstruments2023-12-3105888214ns5:CurrentFinancialInstruments2022-12-3105888214ns5:ShareCapital2023-12-3105888214ns5:ShareCapital2022-12-3105888214ns5:RetainedEarningsAccumulatedLosses2023-12-3105888214ns5:RetainedEarningsAccumulatedLosses2022-12-3105888214ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3105888214ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3105888214ns5:ShortLeaseholdAssetsns5:LandBuildings2023-12-3105888214ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3105888214ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105888214ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3105888214ns5:WithinOneYear2023-12-3105888214ns5:WithinOneYear2022-12-3105888214ns5:BetweenOneFiveYears2023-12-3105888214ns5:BetweenOneFiveYears2022-12-3105888214ns5:MoreThanFiveYears2023-12-3105888214ns5:MoreThanFiveYears2022-12-3105888214ns5:AllPeriods2023-12-3105888214ns5:AllPeriods2022-12-3105888214ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 05888214 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BONNINGTON BLOOMSBURY LIMITED

BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BONNINGTON BLOOMSBURY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J J McGettigan
B D McGettigan





SECRETARIES: P A McGettigan
B D McGettigan





REGISTERED OFFICE: Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE





REGISTERED NUMBER: 05888214 (England and Wales)





AUDITORS: LMDB Limited
t/a LMDB Accountants
Statutory Auditors
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE

BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
(Unaudited)
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -

CURRENT ASSETS
Tangible assets 67,180 -
Debtors 5 827,538 61,733
Cash at bank 6,711 12,049
901,429 73,782
CREDITORS
Amounts falling due within one year 6 3,026,383 2,121,081
NET CURRENT LIABILITIES (2,124,954 ) (2,047,299 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,124,954 ) (2,047,299 )

PROVISIONS FOR LIABILITIES 178,026 -
NET LIABILITIES (2,302,980 ) (2,047,299 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (2,302,981 ) (2,047,300 )
SHAREHOLDERS' FUNDS (2,302,980 ) (2,047,299 )

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 10 January 2025 and were signed on its behalf by:




J J McGettigan - Director


BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214)

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

1. STATUTORY INFORMATION

Bonnington Bloomsbury 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.

Preparation of financial statements on a basis other than that of a going concern
The company disposed of the leasehold property in September 2024. The directors have therefore prepared the financial statements on a basis other than that of a going concern.The leasehold property has been restated as a current asset at it's recoverable amount. A provision has been made for losses of the subsequent period including costs associated with liquidation.

The company is dependent on the continued support in the short term of its parent company, Bonnington Group Ltd, which is providing funding to the company.The company has been given assurance by the directors of Bonnington Group Ltd that it will not seek repayment of the existing inter group borrowing and will provide sufficient funds to meet future working capital requirements in the period to the dissolution of the company.

Tangible fixed assets
Leasehold land and buildings which had been fully depreciated have been reclassified as current tangible assets and restated at their recoverable amount.

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.


BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Functional currency
The company's functional currency as defined by section 30 Financial Reporting Standard 102 is sterling.

Financial instruments
The company's principal financial instruments comprise bank balances, trade debtors, trade creditors, and loans to/ from other group companies. The main purpose of these instruments is to finance the company's operations.

Due to the nature of the financial instruments used by the group there is no exposure to price risk. The group's approach to managing other risks applicable to the financial instruments concerned is shown below.

Trade debtors are managed in respect of credit and cash flow risk by policies determining the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

In respect of loans between group companies, these are interest free and have no fixed repayment terms. The directors are aware of each group company's required finance and have determined that these will only be repaid, in whole or in part, when funding is available.

3. EMPLOYEES AND DIRECTORS

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

BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214)

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

4. TANGIBLE FIXED ASSETS
Short
leasehold
£   
COST
At 1 January 2023 400,341
Transfer to current assets (400,341 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 400,341
Transfer to current assets (400,341 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

The company's leasehold property was reassigned after the balance sheet date. The property has therefore been reclassified as a current tangible asset at its recoverable amount of £67,180.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
(Unaudited)
£    £   
Other debtors 827,538 61,733

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
(Unaudited)
£    £   
Trade creditors 17,693 97,782
Amounts owed to group undertakings 2,935,225 2,013,906
Other creditors 73,465 9,393
3,026,383 2,121,081

BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214)

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

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
(Unaudited)
£    £   
Within one year - 185,733
Between one and five years - 742,932
In more than five years - 696,498
- 1,625,163

The above lease was guaranteed by the parent company Bonnington Group Limited. The lease was reassigned on 17 September 2024 with all payments due under the lease recognised in the current period.

8. CALLED UP SHARE CAPITAL

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

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Stuart Andrew Murray FCCA (Senior Statutory Auditor)
for and on behalf of LMDB Limited

We draw attention to Note 2 to the financial statements which explains that the company disposed of it's leasehold property in September 2024 and therefore the directors do not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than that of a going concern as described in Note 2.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under paragraph 1AC.35 of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions between two or more members of a group as any subsidiary party to related party transactions are wholly owned by such member.

11. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is the company's director J J McGettigan by virtue of his majority shareholding in the company's ultimate parent company.

BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214)

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

12. CONSOLIDATED FINANCIAL STATEMENTS

The company is a wholly owned subsidiary of Bonnington Group Limited (incorporated in England and Wales) and of its ultimate parent, Regan Development Holdings Ltd (incorporated in Ireland). Bonnington Group Ltd is exempt from the requirement to prepare consolidated financial statements by virtue of section 399 of the Companies Act 2006. Copies of the financial statements for Regan Development Holdings Ltd are available from Companies Registration Office in Ireland.