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REGISTERED NUMBER: 00151276 (England and Wales)















BONEHAM & TURNER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 9


BONEHAM & TURNER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: C E Boneham
P G Boneham





SECRETARY: P G Boneham





REGISTERED OFFICE: Oddicroft Industrial Estate
Oddicroft Lane
Sutton in Ashfield
Nottinghamshire
NG17 5FS





REGISTERED NUMBER: 00151276 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,916,062 1,992,803
Investments 5 58,252 58,252
Investment property 6 663,241 662,107
2,637,555 2,713,162

CURRENT ASSETS
Inventories 987,464 1,158,004
Debtors 7 663,401 827,982
Cash at bank and in hand 818,054 497,447
2,468,919 2,483,433
CREDITORS
Amounts falling due within one year 8 1,156,794 1,043,664
NET CURRENT ASSETS 1,312,125 1,439,769
TOTAL ASSETS LESS CURRENT LIABILITIES 3,949,680 4,152,931

CREDITORS
Amounts falling due after more than one year 9 (891,546 ) (1,063,474 )

PROVISIONS FOR LIABILITIES (257,376 ) (265,563 )

PENSION LIABILITY (42,220 ) (174,237 )
NET ASSETS 2,758,538 2,649,657

CAPITAL AND RESERVES
Called up share capital 13 16,000 16,000
Fair value reserve 14 141,371 140,237
Capital redemption reserve 42,500 42,500
Retained earnings 2,558,667 2,450,920
SHAREHOLDERS' FUNDS 2,758,538 2,649,657

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





P G Boneham - Director


BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

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

1. STATUTORY INFORMATION

Boneham & Turner Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Preparation of consolidated financial statements
The financial statements contain information about Boneham & Turner Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost and 10% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Investment property
Investment property is valued at its market value on an annual basis. Any aggregate surplus or deficit arising from changes in market value is transferred to a fair value reserve.

Inventories
Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of future payments is treated as a liability.

Pension costs and other post-retirement benefits
For defined benefit schemes the amounts charged to operating profit are the current service costs and gains and losses on settlements and curtailments. They are included as part of staff costs. Past service costs are recognised immediately in the income statement if the benefits have vested. If the benefits have not vested the costs are recognised over the period until vesting occurs. The interest cost and expected return on assets are shown as a net amount of other finance cost or credits adjacent to interest. Actuarial gains and losses are recognised immediately in other comprehensive income.

Defined benefit schemes are funded, with the assets of the scheme held separately from those of the company, in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate to the equivalent current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The resulting asset or liability, net of the related deferred tax, is presented separately after other net assets on the face of the statement of financial position.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 40 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 1,251,380 3,046,328 4,297,708
Additions - 142,427 142,427
At 31 July 2024 1,251,380 3,188,755 4,440,135
DEPRECIATION
At 1 August 2023 344,960 1,959,945 2,304,905
Charge for year 25,027 194,141 219,168
At 31 July 2024 369,987 2,154,086 2,524,073
NET BOOK VALUE
At 31 July 2024 881,393 1,034,669 1,916,062
At 31 July 2023 906,420 1,086,383 1,992,803



BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

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

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 400 57,852 58,252
NET BOOK VALUE
At 31 July 2024 400 57,852 58,252
At 31 July 2023 400 57,852 58,252

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 662,107
Revaluations 1,134
At 31 July 2024 663,241
NET BOOK VALUE
At 31 July 2024 663,241
At 31 July 2023 662,107

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2016 122,411
Valuation in 2017 1,840
Valuation in 2018 1,277
Valuation in 2019 52,683
Valuation in 2020 (45,151 )
Valuation in 2021 (44,878 )
Valuation in 2022 91,643
Valuation in 2023 (39,589 )
Valuation in 2024 1,134
Cost 521,871
663,241

The directors revalued the investment property with regard to market based evidence for similar properties sold in the local area.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 418,676 556,762
Amounts owed by group undertakings 140,421 211,536
Other debtors 104,304 59,684
663,401 827,982

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts (see note 10) 32,892 66,866
Hire purchase contracts (see note 11) 217,240 188,988
Trade creditors 340,201 305,755
Taxation and social security 228,212 160,524
Other creditors 338,249 321,531
1,156,794 1,043,664

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans (see note 10) 675,855 703,328
Hire purchase contracts (see note 11) 174,191 318,646
Other creditors 41,500 41,500
891,546 1,063,474

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 41,500 41,500

Repayable by instalments
Bank loans more than 5 years 541,712 -

10. LOANS

An analysis of the maturity of loans is given below:

31.7.24 31.7.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 32,892 66,866

Amounts falling due between one and two years:
Bank loans - 1-2 years 33,147 646,661

Amounts falling due between two and five years:
Bank loans - 2-5 years 100,996 56,667

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Preference shares 41,500 41,500

Repayable by instalments
Bank loans more than 5 years 541,712 -

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

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

10. LOANS - continued

PREFERENCE SHARES

NumberNominal 31.7.2431.7.23
value:£   £   
41,500£141,50041,500
These shares are non-voting.

11. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
31.7.24 31.7.23
£    £   
Net obligations repayable:
Within one year 217,240 188,988
Between one and five years 174,191 318,646
391,431 507,634

There are minimum lease payments under non-cancellable operating leases due totalling £134,149 (2023 - £46,933).

12. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 708,747 770,194
Hire purchase contracts 391,431 507,634
1,100,178 1,277,828

The bank loan is secured against the freehold property and the hire purchase contracts are secured against the assets to which they relate.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
16,000 Ordinary shares £1 16,000 16,000

14. RESERVES
Fair
value
reserve
£   
At 1 August 2023 140,237
Property revaluation 1,134

At 31 July 2024 141,371

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable fair value reserve in order to assist with the identification of profits available for distribution.

BONEHAM & TURNER LIMITED (REGISTERED NUMBER: 00151276)

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

15. PENSION COMMITMENTS

The company had pensions commitments due as follows;

2024 2023
£ £
Within one year 82,400 82,400
Between one and two years 82,400 82,400
Between two and five years 247,200 247,200
After five years 494,400 576,800
906,400 988,800