Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-05-01falseNo description of principal activity33falsetrue 08546759 2023-05-01 2024-04-30 08546759 2022-05-01 2023-04-30 08546759 2024-04-30 08546759 2023-04-30 08546759 2022-05-01 08546759 c:Director1 2023-05-01 2024-04-30 08546759 c:Director2 2023-05-01 2024-04-30 08546759 c:Director3 2023-05-01 2024-04-30 08546759 c:RegisteredOffice 2023-05-01 2024-04-30 08546759 c:Agent1 2023-05-01 2024-04-30 08546759 d:CurrentFinancialInstruments 2023-05-01 2024-04-30 08546759 d:CurrentFinancialInstruments 2024-04-30 08546759 d:CurrentFinancialInstruments 2023-04-30 08546759 d:Non-currentFinancialInstruments 2023-05-01 2024-04-30 08546759 d:Non-currentFinancialInstruments 2024-04-30 08546759 d:Non-currentFinancialInstruments 2023-04-30 08546759 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 08546759 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 08546759 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 08546759 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 08546759 d:ShareCapital 2024-04-30 08546759 d:ShareCapital 2023-04-30 08546759 d:RetainedEarningsAccumulatedLosses 2024-04-30 08546759 d:RetainedEarningsAccumulatedLosses 2023-04-30 08546759 c:OrdinaryShareClass1 2023-05-01 2024-04-30 08546759 c:OrdinaryShareClass1 2024-04-30 08546759 c:OrdinaryShareClass1 2023-04-30 08546759 c:OrdinaryShareClass2 2023-05-01 2024-04-30 08546759 c:OrdinaryShareClass2 2024-04-30 08546759 c:OrdinaryShareClass2 2023-04-30 08546759 c:OrdinaryShareClass3 2023-05-01 2024-04-30 08546759 c:OrdinaryShareClass3 2024-04-30 08546759 c:OrdinaryShareClass3 2023-04-30 08546759 c:OrdinaryShareClass4 2023-05-01 2024-04-30 08546759 c:OrdinaryShareClass4 2024-04-30 08546759 c:OrdinaryShareClass4 2023-04-30 08546759 c:OrdinaryShareClass5 2023-05-01 2024-04-30 08546759 c:OrdinaryShareClass5 2024-04-30 08546759 c:OrdinaryShareClass5 2023-04-30 08546759 c:FRS102 2023-05-01 2024-04-30 08546759 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08546759 c:FullAccounts 2023-05-01 2024-04-30 08546759 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08546759 d:EntityControlledByKeyManagementPersonnel1 2023-05-01 2024-04-30 08546759 d:EntityControlledByKeyManagementPersonnel1 2024-04-30 08546759 d:EntityControlledByKeyManagementPersonnel1 2023-04-30 08546759 d:RetirementBenefitObligationsDeferredTax 2024-04-30 08546759 d:RetirementBenefitObligationsDeferredTax 2023-04-30 08546759 d:OtherDeferredTax 2024-04-30 08546759 d:OtherDeferredTax 2023-04-30 08546759 1 2023-05-01 2024-04-30 08546759 6 2023-05-01 2024-04-30 08546759 2 2024-04-30 08546759 2 2023-04-30 08546759 f:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08546759









BONARIE INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
BONARIE INVESTMENTS LIMITED
 
 
COMPANY INFORMATION


Directors
MDC Davies 
DA Davies 
DMC Davies 




Registered number
08546759



Registered office
Little Birks Farm Ballam Road
Lytham St Annes

Lancashire

FY8 4NL




Accountants
Grant Thornton UK LLP
Chartered Accountants

Landmark, St Peter's Square

1 Oxford Street

Manchester

M1 4PB




Investment manager
Brown Shipley
3 Hardman Street

Manchester

M3 3HF





 
BONARIE INVESTMENTS LIMITED
 

CONTENTS



Page
Accountant's report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 9


  
  img3164.png
Report to the directors on the preparation of the unaudited statutory financial statements of Bonarie Investments Limited for the year ended 30 April 2024 

We have compiled the accompanying financial statements of Bonarie Investments Limited (the ‘company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of Bonarie Investments Limited as at 30 April 2024, and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com.

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors, as a body,  in accordance with the terms of our engagement letter dated 17 December 2024Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's directors, as a body,  in this report in accordance with our engagement letter dated 17 December 2024. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors, as a body,  for our work or for this report.




Grant Thornton UK LLP
Chartered Accountants
Manchester

27 January 2025
Page 1

 
BONARIE INVESTMENTS LIMITED
REGISTERED NUMBER:08546759

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Investments
 4 
10,955,844
10,964,732

Current assets
  

Debtors
 5 
-
16,286

Cash at bank and in hand
  
49,587
68,711

  
49,587
84,997

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(1,935,734)
(1,951,361)

Net current liabilities
  
 
 
(1,886,147)
 
 
(1,866,364)

Total assets less current liabilities
  
9,069,697
9,098,368

Creditors: amounts falling due after more than one year
 7 
(3,232,059)
(4,564,520)

Provisions for liabilities
  

Deferred tax
 8 
(730,349)
(565,224)

  
 
 
(730,349)
 
 
(565,224)

Net assets
  
5,107,289
3,968,624


Capital and reserves
  

Called up share capital 
 9 
112
112

Profit and loss account
  
5,107,177
3,968,512

  
5,107,289
3,968,624


Page 2

 
BONARIE INVESTMENTS LIMITED
REGISTERED NUMBER:08546759
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




MDC Davies
Director

Date: 22 January 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
BONARIE INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

This company is a private company limited by shares and is registered in England and Wales.
Registered number: 08546759.
Registered office: Little Birks Farm, Ballam Road, Lytham St Annes, Lancashire, FY8 4NL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In terms of the investments held by the company, there are inevitably inherent uncertainties in the foreseeable future and there can be no certainty in relation to investments made by the company.  Accordingly, the directors believe that the company's financial statements should be prepared on the going concern basis.

 
2.3

Borrowing costs

All borrowing costs are recognised in  profit or loss  in the year in which they are incurred.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
BONARIE INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments held as fixed assets are valued at their closing bid price at 30 April 2024. Gains and losses on remeasurement are recognised in profit or loss for the period.

  
2.6

Other operating income

Other operating income represents dividends receivable and fixed interest income from investments and is recognised on a received basis. This also represents profits and losses on the sale of investments and the change in market value of investments.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the
Page 5

 
BONARIE INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees



The company has no employees (2023: Nil) other than the directors, who did not receive any remuneration (2023 - £Nil).

Page 6

 
BONARIE INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Fixed asset investments





Listed investments

£



Valuation


At 1 May 2023
10,964,732


Additions
2,710,172


Disposals
(3,994,720)


Revaluations
1,275,660



At 30 April 2024

10,955,844






Net book value



At 30 April 2024
10,955,844



At 30 April 2023
10,964,732

The historical cost of the listed investments had they not been revalued is £7,801,194 (2023: £9,135,356).


5.


Debtors

2024
2023
£
£


Other debtors
-
16,286


Page 7

 
BONARIE INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,619,664
-

Other loans
-
1,628,776

Director's loan account
300,000
300,000

Accruals and deferred income
16,070
22,585

1,935,734
1,951,361


The other loans were refinanced on 17 November 2023. These were repaid from the current accounts and are disclosed above as bank overdrafts. Interest is being charged at 1.25% (2023:1.25%) per annum above bank base rate and are secured on a first legal charge over the investment portfolio.
The director's loan account is unsecured and non-interest bearing.
 


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Director's loan account
3,232,059
4,564,520


The director's loan account is unsecured and non-interest bearing.
Of the director's loan account, £1,732,062 (2023: £3,364,523) is falling due after more than 5 years.


8.


Deferred taxation




2024
2023


£

£






At beginning of year
(565,224)
(612,508)


Charged to profit or loss
(165,125)
47,284



At end of year
(730,349)
(565,224)

Page 8

 
BONARIE INVESTMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Losses and other deductions
39,413
6,990

Capital gains
(769,762)
(572,214)

(730,349)
(565,224)


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023: 1,000) 'A' Ordinary shares of £0.10 each
100
100
10 (2023: 10) 'B' Ordinary shares of £0.10 each
1
1
10 (2023: 10) 'C' Ordinary shares of £0.10 each
1
1
10 (2023: 10) 'D' Ordinary shares of £0.10 each
1
1
90 (2023: 90) 'E' Ordinary shares of £0.10 each
9
9

112

112


10.


Related party transactions

As at 30 April 2024, an amount of £3,532,059 (2023: £4,864,520) is due to a director of the company.

Page 9