REGISTERED NUMBER: |
Bonus Securities Limited |
Financial Statements for the Year Ended 30th June 2024 |
REGISTERED NUMBER: |
Bonus Securities Limited |
Financial Statements for the Year Ended 30th June 2024 |
Bonus Securities Limited (Registered number: 04470081) |
Contents of the Financial Statements |
for the year ended 30th June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Bonus Securities Limited |
Company Information |
for the year ended 30th June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
BANKERS: |
3rd Floor |
2 Whitehall Quay |
Leeds |
LS1 4HR |
SOLICITORS: |
Wilberforce Court |
High Street |
Hull |
HU1 1YJ |
Bonus Securities Limited (Registered number: 04470081) |
Balance Sheet |
30th June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bonus Securities Limited (Registered number: 04470081) |
Notes to the Financial Statements |
for the year ended 30th June 2024 |
1. | STATUTORY INFORMATION |
Bonus Securities Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in starling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
Turnover |
In each accounting year, turnover and profit are wholly attributable to the principal activity of that year and originate in the United Kingdom. Turnover is stated net of VAT. Turnover is recognised on the provision of services. |
Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation net if depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties 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 equipment - 15% |
Freehold property - 50 years |
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 taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Bonus Securities Limited (Registered number: 04470081) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st July 2023 |
and 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
Cost or valuation at 30th June 2024 is represented by: |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
Valuation in 2017 | (1,599,799 | ) | - | (1,599,799 | ) |
Cost | 2,399,799 | 54,075 | 2,453,874 |
800,000 | 54,075 | 854,075 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Directors' loan accounts | 335,014 | - |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to parent company |
VAT | 752 | - |
Other creditors |
Accruals and deferred income |
Bonus Securities Limited (Registered number: 04470081) |
Notes to the Financial Statements - continued |
for the year ended 30th June 2024 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank overdrafts |
The bank overdraft is secured by fixed and floating charges on the undertaking and all property and assets present and future including goodwill and book debts of the parent company Bonus Electrical Group Limited, and of the fellow subsidiary companies Bonus Electrical Limited, Motorcycle Electrical Services Limited, Bonus Control Systems Limited, Electricalstock.com Limited, Project Furnishings Limited and Bonus Accessories Limited. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | CONTINGENT LIABILITIES |
The company has given unlimited guarantees in respect of bank borrowings of fellow group companies. The amount outstanding under this guarantee at 30 June 2024 was £nil (2023 £1,517,692). Any amount arising under this guarantee is secured by fixed and floating charges over the assets of the company both present and future. |
10. | RELATED PARTY DISCLOSURES |
During the year the company entered into transactions with related parties in the ordinary course of business. |
As at 30 June 2024 the company was owed £335,014 (2023: £320,385) by its directors. This balance is included within other debtors. |
As at 30 June 2024 the company was owed £nil (2023: £212,115) by close family members of directors. This balance is included within other debtors. |
The above loans are repayable on demand and accrue no interest. |
11. | ULTIMATE CONTROLLING PARTY |
In the opinion of the director, the company's immediate and ultimate parent company is Bonus Electrical Group Limited, a company registered in England. Copies of the group financial statements of Bonus Electrical Group Limited can be obtained from The Registrar of Companies, Companies House, Crown Way, Cardiff CF14 3UZ. |