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Company No: 08970430 (England and Wales)

BONDSTONES (1990) LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

BONDSTONES (1990) LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

BONDSTONES (1990) LTD

COMPANY INFORMATION

For the financial year ended 30 April 2024
BONDSTONES (1990) LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTOR Ian Michael Firth
REGISTERED OFFICE Hestercombe House Hestercombe
Cheddon Fitzpaine
Taunton
TA2 8LG
United Kingdom
COMPANY NUMBER 08970430 (England and Wales)
ACCOUNTANT Old Mill Accountancy Limited
Maltravers House
Petters Way
Yeovil
Somerset
BA20 1SH
BONDSTONES (1990) LTD

BALANCE SHEET

As at 30 April 2024
BONDSTONES (1990) LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,601 6,179
3,601 6,179
Current assets
Stocks 3,592 3,592
Debtors 4 28,792 25,311
Cash at bank and in hand 6,281 510
38,665 29,413
Creditors: amounts falling due within one year 5 ( 36,066) ( 40,059)
Net current assets/(liabilities) 2,599 (10,646)
Total assets less current liabilities 6,200 (4,467)
Creditors: amounts falling due after more than one year 6 ( 4,218) ( 8,357)
Provision for liabilities ( 685) ( 1,174)
Net assets/(liabilities) 1,297 ( 13,998)
Capital and reserves
Called-up share capital 798 798
Capital redemption reserve 201 201
Profit and loss account 298 ( 14,997 )
Total shareholders' funds/(deficit) 1,297 ( 13,998)

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.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Bondstones (1990) Ltd (registered number: 08970430) were approved and authorised for issue by the Director on 20 January 2025. They were signed on its behalf by:

Ian Michael Firth
Director
BONDSTONES (1990) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
BONDSTONES (1990) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bondstones (1990) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hestercombe House Hestercombe, Cheddon Fitzpaine, Taunton, TA2 8LG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 7 7

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 May 2023 5,069 22,469 27,538
Additions 0 886 886
At 30 April 2024 5,069 23,355 28,424
Accumulated depreciation
At 01 May 2023 2,767 18,592 21,359
Charge for the financial year 576 2,888 3,464
At 30 April 2024 3,343 21,480 24,823
Net book value
At 30 April 2024 1,726 1,875 3,601
At 30 April 2023 2,302 3,877 6,179

4. Debtors

2024 2023
£ £
Trade debtors 7,710 24,466
Other debtors 21,082 845
28,792 25,311

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 3,417 3,000
Trade creditors 13,579 18,508
Other taxation and social security 5,159 5,231
Other creditors 13,911 13,320
36,066 40,059

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,218 8,357

The bank loans are secured by fixed and floating charges over the companies assets and a partial guarantee has been provided by the Secretary of State as part of the Business Interruption Payment relief provided to companies during the pandemic.

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Directors' Loan Account (10,667) 341

During the year a Director maintained a Directors' Loan Account with the company. Advances of £2,635 and repayments of £13,643 were made on this loan. The loan is interest free and repayable on demand. At the balance sheet date the company owed the director £10,667.

The Planning Objection Company Ltd (company number 09011392) is a related party by virtue of the fact that the director, Mr Ian Firth is a shareholder and director of this business. During the year Bondstones provided telecommunication services amounting to £324 (2022: £324).