Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Barbara Rogers 01/11/2005 Peter William Rogers 13/10/2005 12 March 2025 The principal activity of the Company during the financial year was that of property development and consulting. 05569687 2024-03-31 05569687 bus:Director1 2024-03-31 05569687 bus:Director2 2024-03-31 05569687 2023-03-31 05569687 core:CurrentFinancialInstruments 2024-03-31 05569687 core:CurrentFinancialInstruments 2023-03-31 05569687 core:ShareCapital 2024-03-31 05569687 core:ShareCapital 2023-03-31 05569687 core:RetainedEarningsAccumulatedLosses 2024-03-31 05569687 core:RetainedEarningsAccumulatedLosses 2023-03-31 05569687 core:OtherPropertyPlantEquipment 2023-03-31 05569687 core:OtherPropertyPlantEquipment 2024-03-31 05569687 core:CostValuation 2023-03-31 05569687 core:AdditionsToInvestments 2024-03-31 05569687 core:DisposalsRepaymentsInvestments 2024-03-31 05569687 core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 05569687 core:FurtherSpecificIncreaseDecreaseInInvestments2ComponentTotalChangeInInvestments 2024-03-31 05569687 core:CostValuation 2024-03-31 05569687 core:OtherMembersGroupNotDefinedElsewhere core:CurrentFinancialInstruments 2024-03-31 05569687 core:OtherMembersGroupNotDefinedElsewhere core:CurrentFinancialInstruments 2023-03-31 05569687 core:DeferredTaxation 2023-03-31 05569687 core:DeferredTaxation 2024-03-31 05569687 core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 05569687 core:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05569687 bus:OrdinaryShareClass1 2024-03-31 05569687 2023-04-01 2024-03-31 05569687 bus:FilletedAccounts 2023-04-01 2024-03-31 05569687 bus:SmallEntities 2023-04-01 2024-03-31 05569687 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05569687 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05569687 bus:Director1 2023-04-01 2024-03-31 05569687 bus:Director2 2023-04-01 2024-03-31 05569687 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 05569687 2022-04-01 2023-03-31 05569687 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 05569687 core:DeferredTaxation 2023-04-01 2024-03-31 05569687 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05569687 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05569687 (England and Wales)

BONAFIED LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BONAFIED LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BONAFIED LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
BONAFIED LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Barbara Rogers
Peter William Rogers
REGISTERED OFFICE 1 Poultry C/O Praxis
London
EC2R 8EJ
United Kingdom
COMPANY NUMBER 05569687 (England and Wales)
ACCOUNTANT Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
BONAFIED LIMITED

BALANCE SHEET

As at 31 March 2024
BONAFIED LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 0 685
Investments 4 641,089 725,381
641,089 726,066
Current assets
Debtors 5 24,600 0
Cash at bank and in hand 6 476,398 200,890
500,998 200,890
Creditors: amounts falling due within one year 7 ( 69,954) ( 11,010)
Net current assets 431,044 189,880
Total assets less current liabilities 1,072,133 915,946
Provision for liabilities 8 0 ( 171)
Net assets 1,072,133 915,775
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 1,072,033 915,675
Total shareholders' funds 1,072,133 915,775

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Bonafied Limited (registered number: 05569687) were approved and authorised for issue by the Board of Directors on 12 March 2025. They were signed on its behalf by:

Peter William Rogers
Director
BONAFIED LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BONAFIED LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Bonafied Limited (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 1 Poultry C/O Praxis, London, EC2R 8EJ, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

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 basis over its expected useful life, as follows:

Plant and machinery etc. 3 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 Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 2,243 2,243
At 31 March 2024 2,243 2,243
Accumulated depreciation
At 01 April 2023 1,558 1,558
Charge for the financial year 685 685
At 31 March 2024 2,243 2,243
Net book value
At 31 March 2024 0 0
At 31 March 2023 685 685

4. Fixed asset investments

Listed investments Investments in associates Total
£ £ £
Cost or valuation before impairment
At 01 April 2023 406,204 319,177 725,381
Additions 5,436 0 5,436
Disposals 0 ( 377,525) ( 377,525)
Movement in fair value 63,139 0 63,139
Share of associate profit/(loss) 0 224,658 224,658
At 31 March 2024 474,779 166,310 641,089
Carrying value at 31 March 2024 474,779 166,310 641,089
Carrying value at 31 March 2023 406,204 319,177 725,381

5. Debtors

2024 2023
£ £
Amounts owed by connected persons 21,600 0
Accrued income 3,000 0
24,600 0

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 476,398 200,890

7. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 64,981 0
Other creditors 4,973 11,010
69,954 11,010

8. Provision for liabilities

2024 2023
£ £
Deferred tax 0 171
Deferred taxation Total
£ £
At 01 April 2023 171 171
Credited to the Statement of Income and Retained Earnings ( 171) ( 171)
At 31 March 2024 0 0

Deferred tax

2024 2023
£ £
Accelerated capital allowances 0 171
Provision for deferred tax 0 171

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Other related party transactions

2024 2023
£ £
Loan to a company in which a Director has significant influence 21,600 0