Year Ended
Registration number:
Bonhay & Eagle Property Company Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Bonhay & Eagle Property Company Limited
Balance Sheet
31 July 2024
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2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Investments |
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Other financial assets |
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1 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Capital redemption reserve |
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Profit and loss account |
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Shareholders' funds |
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Bonhay & Eagle Property Company Limited
Balance Sheet
31 July 2024
For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 00228967
Bonhay & Eagle Property Company Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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 Section 1A and the Companies Act 2006. There are no material departures from FRS 102.
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 functional currency of Bonhay and Eagle Property Company Limited is considered to be pounds sterling as it is the primary economic environment in which the entity operates.
Going concern
The financial statements have been prepared on a going concern basis. The directors have considered the future funding requirements of the business, and based on management forecasts have concluded that the Company will have sufficient funds to ensure that it can meet its financial liabilities as and when they fall due, for a period of at least 12 months from the date of approval of these financial statements.
Revenue recognition
Turnover comprises the invoiced value of property rentals receivable, exclusive of VAT. Turnover is recognised on a straight line basis over the term of the lease.
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 corporation 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.
Bonhay & Eagle Property Company Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2024
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet 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.
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:
Asset class |
Depreciation method and rate |
Freehold land & buildings |
2% straight line |
Plant & machinery |
10% reducing balance |
Investment property
Investments
Investments are stated at historical cost less provision for any diminuation in value.
Bonhay & Eagle Property Company Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2024
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Bonhay & Eagle Property Company Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2024
Tangible assets |
Freehold land and buildings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 August 2023 |
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At 31 July 2024 |
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Depreciation |
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At 1 August 2023 |
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Charge for the year |
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At 31 July 2024 |
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Carrying amount |
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At 31 July 2024 |
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At 31 July 2023 |
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Investment properties |
2024 |
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At 1 August |
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Additions |
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Disposals |
( |
At 31 July |
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The directors have determined the fair value of investment properties using current market data for comparable real estate based on observable market prices and yields, adjusted where necessary for any differences in nature, location or condition.
Bonhay & Eagle Property Company Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2024
Investments |
2024 |
2023 |
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Investments in joint ventures |
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Joint ventures |
£ |
Cost |
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At 1 August 2023 |
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At 31 July 2024 |
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Carrying amount |
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At 31 July 2024 |
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At 31 July 2023 |
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Details of undertakings
The principal activity of Unitbuild (SW) LLP is property development. |
Bonhay & Eagle Property Company Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2024
Other fixed asset investments |
2024 |
2023 |
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Non-current financial assets |
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Financial assets at fair value through profit and loss |
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Financial assets at fair value through profit and loss |
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Cost |
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At 1 August 2023 |
1 |
At 31 July 2024 |
1 |
Impairment |
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At 31 July 2024 |
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Carrying amount |
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At 31 July 2024 |
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At 31 July 2023 |
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The company holds 2,883 Ordinary shares in Silver Bullet Data Services Group PLC (previously: Silver Bullet Data Services Group Limited) a company registered in the UK. This company re-registered from a private company as a public company on 10/06/2021. The shares have an original cost of £24,996.
Debtors |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Bonhay & Eagle Property Company Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Other creditors |
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Loans and borrowings |
2024 |
2023 |
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Loans and borrowings due after one year |
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Bank borrowings |
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Other borrowings |
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Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Bank borrowings are secured by way of a legal charge over certain investment properties and a debenture over all the assets of the company.
Bonhay & Eagle Property Company Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2024
Related party transactions |
Key management personnel
An entity under the control of a member of key management provides the company with property management services. During the year the amount charged was £110,000 (2023: £94,054). The amount owed to the entity at the year end was £nil (2023: £nil).
Obligations under leases and hire purchase contracts |
Operating leases - lessor
The total of future minimum lease payments is as follows:
2024 |
2023 |
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Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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- |
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Total rents recognised as income in the period are £962,839 (2023: £957,978).
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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152,889 |
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152,889 |
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81,610 |
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81,610 |
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