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REGISTERED NUMBER: 03709608 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BONNINGTON GROUP LIMITED

BONNINGTON GROUP LIMITED (REGISTERED NUMBER: 03709608)






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 GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J J McGettigan
P A McGettigan
B D McGettigan





SECRETARY: P A McGettigan





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





REGISTERED NUMBER: 03709608 (England and Wales)





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

BONNINGTON GROUP LIMITED (REGISTERED NUMBER: 03709608)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
as restated
(Unaudited)
Notes £    £    £    £   
FIXED ASSETS
Investments 4 155,101 155,101

CURRENT ASSETS
Debtors 5 634,657 -

CREDITORS
Amounts falling due within one year 6 4,482,035 3,756,850
NET CURRENT LIABILITIES (3,847,378 ) (3,756,850 )
TOTAL ASSETS LESS CURRENT LIABILITIES (3,692,277 ) (3,601,749 )

CAPITAL AND RESERVES
Called up share capital 8 50,000 50,000
Retained earnings (3,742,277 ) (3,651,749 )
SHAREHOLDERS' FUNDS (3,692,277 ) (3,601,749 )

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 GROUP LIMITED (REGISTERED NUMBER: 03709608)

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

1. STATUTORY INFORMATION

Bonnington Group 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 the provisions for "Small Entities" under Section 1A Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Material Uncertainty Related to Going Concern
The company is reliant on financial support from its immediate and ultimate parent companies. As at the balance sheet date, debts of £4,315,470 (2022 - £3,504,812) were owed to the parent companies with no structured repayment terms.

The directors have obtained assurance of the continued financial support from the group members and therefore believe that it is appropriate to continue to prepare the accounts on a going concern basis.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

BONNINGTON GROUP LIMITED (REGISTERED NUMBER: 03709608)

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

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.

Financial instruments
The company's principal financial instruments comprise 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 3 (2022 - 3 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 155,102
PROVISIONS
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 155,101
At 31 December 2022 155,101

BONNINGTON GROUP LIMITED (REGISTERED NUMBER: 03709608)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
(Unaudited)
£    £   
Amounts owed by group undertakings 632,480 -
Other debtors 2,177 -
634,657 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
(Unaudited)
£    £   
Amounts owed to group undertakings 4,470,470 3,659,812
Other creditors 11,565 97,038
4,482,035 3,756,850

7. SECURED DEBTS

The company has provided a guarantee for the rents payable under a property lease entered into by Bonnington Bloomsbury Ltd (a subsidiary company). At the balance sheet date the future rental liabilities under the lease amounted to £1,625,163. However, the lease was reassigned in September 2024 releasing Bonnington Bloomsbury Ltd obligations. The guarantee of Bonnington Group Ltd was not called upon.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 "A" Ordinary shares £1 1,000 1,000
49,000 "B" Ordinary shares £1 49,000 49,000
50,000 50,000

Both classes of shares rank pari passu in all respects save that the holders of "B"ordinary shares are not entitled to receive notice of or attend or vote at general meetings of the Company.

BONNINGTON GROUP LIMITED (REGISTERED NUMBER: 03709608)

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

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 in the financial statements, which indicates that the company is reliant on financial support from other group companies. As stated in note 2, this indicates that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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.

12. CONSOLIDATED FINANCIAL STATEMENTS

The company is a subsidiary of parent company Regan Development Holdings Ltd (a company 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 the subsidiaries of Bonnington Group Limited registered in England & Wales can be obtained from Companies House in the United Kingdom and for Regan Development Holdings Ltd from Companies Registration Office in Ireland.