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No description of principal activity
2023-06-01
Sage Accounts Production Advanced 2023 - FRS102_2023
2,515,000
2,515,000
2,515,000
xbrli:pure
xbrli:shares
iso4217:GBP
05124889
2023-06-01
2024-05-31
05124889
2024-05-31
05124889
2023-05-31
05124889
2022-06-01
2023-05-31
05124889
2023-05-31
05124889
2022-05-31
05124889
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2023-06-01
2024-05-31
05124889
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2024-05-31
05124889
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2023-05-31
05124889
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2024-05-31
05124889
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2023-05-31
05124889
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2024-05-31
05124889
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2023-05-31
05124889
core:RevaluationReserve
2024-05-31
05124889
core:RevaluationReserve
2023-05-31
05124889
core:RetainedEarningsAccumulatedLosses
2024-05-31
05124889
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2023-05-31
05124889
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2024-05-31
05124889
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2024-05-31
05124889
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2023-05-31
05124889
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2024-05-31
05124889
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2024-05-31
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2023-06-01
2024-05-31
05124889
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2024-05-31
05124889
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2023-06-01
2024-05-31
COMPANY REGISTRATION NUMBER:
05124889
BONBY INVESTMENTS LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
BONBY INVESTMENTS LIMITED |
|
STATEMENT OF FINANCIAL POSITION |
|
31 May 2024
Fixed assets
Investments |
5 |
|
2,515,000 |
2,515,000 |
|
|
|
|
|
Current assets
Debtors |
6 |
3,844 |
|
6,046 |
Cash at bank and in hand |
7,112 |
|
5,364 |
|
--------- |
|
--------- |
|
10,956 |
|
11,410 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
1,522,146) |
|
(
1,513,315) |
|
------------- |
|
------------- |
Net current liabilities |
|
(
1,511,190) |
(
1,501,905) |
|
|
------------- |
------------- |
Total assets less current liabilities |
|
1,003,810 |
1,013,095 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
(
60,373) |
(
136,099) |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
(
27,322) |
(
27,322) |
|
|
------------- |
------------- |
Net assets |
|
916,115 |
849,674 |
|
|
------------- |
------------- |
|
|
|
|
BONBY INVESTMENTS LIMITED |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 May 2024
Capital and reserves
Called up share capital |
|
100 |
100 |
Revaluation reserve |
|
400,202 |
400,202 |
Profit and loss account |
|
515,813 |
449,372 |
|
|
---------- |
---------- |
Shareholder funds |
|
916,115 |
849,674 |
|
|
---------- |
---------- |
|
|
|
|
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
23 January 2025
, and are signed on behalf of the board by:
Company registration number:
05124889
BONBY INVESTMENTS LIMITED |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MAY 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Main Street, Horkstow, North Lincs, DN18 6BG.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. - Significant judgements No judgements (apart from those involving estimations) were made in the process of applying the entity's accounting policies which would have a significant effect on the amounts recognised in the financial statements. - Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: (i) Investment property valuation Investment property is held at fair value in accordance with FRS 102. The valuation is based upon the director's estimate of fair value at the balance sheet date.
Revenue recognition
The turnover shown in the profit and loss account represents the value of all rents and consultancy fees receivable during the period, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material 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.
Investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued by the directors to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
Investments
|
Investment properties |
|
£ |
Cost |
|
At 1 June 2023 and 31 May 2024 |
2,515,000 |
|
------------- |
Impairment |
|
At 1 June 2023 and 31 May 2024 |
– |
|
------------- |
|
|
Carrying amount |
|
At 31 May 2024 |
2,515,000 |
|
------------- |
At 31 May 2023 |
2,515,000 |
|
------------- |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
2,844 |
4,546 |
Other debtors |
1,000 |
1,500 |
|
------- |
------- |
|
3,844 |
6,046 |
|
------- |
------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
6,585 |
20,899 |
Trade creditors |
1,544 |
19,255 |
Corporation tax |
18,942 |
21,232 |
Social security and other taxes |
2,838 |
2,750 |
Other creditors |
1,492,237 |
1,449,179 |
|
------------- |
------------- |
|
1,522,146 |
1,513,315 |
|
------------- |
------------- |
|
|
|
Bank loans are secured by fixed charges over the properties to which they relate.
Included within creditors is a balance of £1,485,887 (2023: £1,443,079) which is owed to the director.
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
60,373 |
136,099 |
|
--------- |
---------- |
|
|
|
Bank loans are secured by fixed charges over the properties to which they relate.
Included within creditors: amounts falling due after more than one year is an amount of £34,029 (2023: £64,174) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Creditors falling due after more than 5 years from the reporting date are repayable monthly at a market rate of interest.
9.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss |
2,515,000 |
2,515,000 |
|
------------- |
------------- |
|
|
|