Bond - Kernow Limited 05230375 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 05230375 2023-05-01 2024-04-30 05230375 2024-04-30 05230375 core:CurrentFinancialInstruments 2024-04-30 05230375 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 05230375 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 05230375 bus:SmallEntities 2023-05-01 2024-04-30 05230375 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05230375 bus:FilletedAccounts 2023-05-01 2024-04-30 05230375 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05230375 bus:RegisteredOffice 2023-05-01 2024-04-30 05230375 bus:Director3 2023-05-01 2024-04-30 05230375 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05230375 core:PlantMachinery 2023-05-01 2024-04-30 05230375 countries:EnglandWales 2023-05-01 2024-04-30 05230375 2023-04-30 05230375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 05230375 2022-05-01 2023-04-30 05230375 2023-04-30 05230375 core:CurrentFinancialInstruments 2023-04-30 05230375 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 05230375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 05230375

Bond - Kernow Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Bond - Kernow Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Bond - Kernow Limited

(Registration number: 05230375)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

252,150

252,150

Current assets

 

Stocks

50,000

54,500

Debtors

5

379

2,650

Cash at bank and in hand

 

10,286

11,530

 

60,665

68,680

Creditors: Amounts falling due within one year

6

(356,083)

(365,246)

Net current liabilities

 

(295,418)

(296,566)

Net liabilities

 

(43,268)

(44,416)

Capital and reserves

 

Called up share capital

3

3

Profit and loss account

(43,271)

(44,419)

Shareholders' deficit

 

(43,268)

(44,416)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 16 February 2025 and signed on its behalf by:
 


A M Bond
Director

 

Bond - Kernow Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Trerule Farm
Trerulefoot
Saltash
Cornwall
PL12 5BL

Principal activity

The principal activity of the company is the letting and operating of own or leased real estate.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

 

Bond - Kernow Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Asset class

Depreciation method and rate

Plant and machinery

15% Reducing balance

 

Bond - Kernow Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Bond - Kernow Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 May 2023

252,150

252,150

At 30 April 2024

252,150

252,150

Depreciation

Carrying amount

At 30 April 2024

252,150

252,150

At 30 April 2023

252,150

252,150

5

Debtors

2024
£

2023
£

Other debtors

-

1,638

Prepayments

379

1,012

379

2,650

 

Bond - Kernow Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

344,770

361,412

Taxation and social security

 

382

2,984

Accruals and deferred income

 

930

850

Other creditors

 

10,001

-

 

356,083

365,246

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.