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REGISTERED NUMBER: 08513050 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

BONEFISH CAPITAL LTD

BONEFISH CAPITAL LTD (REGISTERED NUMBER: 08513050)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Balance sheet 1

Notes to the financial statements 2


BONEFISH CAPITAL LTD (REGISTERED NUMBER: 08513050)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investment property 4 2,000,000 1,773,591

Current assets
Debtors 5 3,457 6,774
Cash at bank 3,640 50,140
7,097 56,914
Creditors
Amounts falling due within one year 6 1,074,635 1,125,693
Net current liabilities (1,067,538 ) (1,068,779 )
Total assets less current liabilities 932,462 704,812

Creditors
Amounts falling due after more than one year 7 (461,599 ) (485,609 )

Provisions for liabilities 9 (56,602 ) -
Net assets 414,261 219,203

Capital and reserves
Called up share capital 10 1 1
Fair value reserve 11 169,807 -
Retained earnings 244,453 219,202
Shareholders' funds 414,261 219,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:



Mr N A Holtby - Director


BONEFISH CAPITAL LTD (REGISTERED NUMBER: 08513050)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. Statutory information

Bonefish Capital Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08513050. The registered office address is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and the business address is Culeaze House, Bere Regis, Wareham, Dorset, BH20 7NR.

2. Accounting policies

Basis of preparing the financial statements
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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable. Rental income is recognised on a straight line basis over the term of the lease.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Gains are recognised in the statement of comprehensive income. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

BONEFISH CAPITAL LTD (REGISTERED NUMBER: 08513050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. Investment property
Total
£   
Fair value
At 1 June 2023 1,773,591
Fair value increase 226,409
At 31 May 2024 2,000,000
Net book value
At 31 May 2024 2,000,000
At 31 May 2023 1,773,591

Investment property was valued by the directors on an open market basis on 31 May 2024.

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 3,457 6,774

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 24,340 24,000
Trade creditors 3,438 3,123
Amounts owed to group undertakings 45,000 44,000
Tax 6,158 11,609
Directors' current accounts 992,561 1,039,943
Accruals and deferred income 3,138 3,018
1,074,635 1,125,693

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 26,340 26,000
Bank loans - 2-5 years 91,019 90,000
Bank loans - over 5 years 344,240 369,609
461,599 485,609

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - over 5 years 344,240 369,609

BONEFISH CAPITAL LTD (REGISTERED NUMBER: 08513050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 485,939 509,609

The bank loan is secured by way of a fixed and floating charge in favour of The Royal Bank of Scotland, over the company assets and legal charges over the freehold of St Thomas Vicarage, 21 Bolton Road, Salford.

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax 56,602 -

Deferred
tax
£   
Charge to Income statement during year 56,602
Balance at 31 May 2024 56,602

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. Reserves
Fair
value
reserve
£   
Investment property fair value
increase 226,409
Deferred tax on fair value
increase (56,602 )

At 31 May 2024 169,807

12. Ultimate controlling party

The company is controlled by its directors who between them own 100% of the voting share capital in the ultimate parent company, Bonefish Capital Holdings Limited.