REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
BONNINGTON BLOOMSBURY LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARIES: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Transfer to current assets | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Transfer to current assets | ( |
) |
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 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
(Unaudited) |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
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 |
Between one and five years |
In more than five years |
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: | £ | £ |
Ordinary shares | £1 | 1 | 1 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |