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REGISTERED NUMBER: 01191139 (England and Wales)


















Bonus Electrical Limited

Financial Statements for the Year Ended 30th June 2024






Bonus Electrical Limited (Registered number: 01191139)






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 Electrical Limited

Company Information
for the year ended 30th June 2024







DIRECTORS: S T E Boanas
D Madden



SECRETARY: J Henriksen



REGISTERED OFFICE: Unit 1 Kingswood Business Park
Connaught Road
Hull
HU7 3AP



REGISTERED NUMBER: 01191139 (England and Wales)



AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA



BANKERS: National Westminster Bank plc
3rd Floor
2 Whitehall Quay
Leeds
LS1 4HR



SOLICITORS: Rollits
Wilberforce Court
High Street
Hull
HU1 1YJ

Bonus Electrical Limited (Registered number: 01191139)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,542 -
Tangible assets 5 1,249,357 1,285,659
1,253,899 1,285,659

CURRENT ASSETS
Stocks 1,298,677 1,589,349
Debtors 6 797,954 1,377,705
Cash at bank 1,199,352 532,951
3,295,983 3,500,005
CREDITORS
Amounts falling due within one year 7 1,086,762 1,139,844
NET CURRENT ASSETS 2,209,221 2,360,161
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,463,120

3,645,820

CAPITAL AND RESERVES
Called up share capital 8 2,003 2,003
Retained earnings 3,461,117 3,643,817
SHAREHOLDERS' FUNDS 3,463,120 3,645,820

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 27th March 2025 and were signed on its behalf by:





S T E Boanas - Director


Bonus Electrical Limited (Registered number: 01191139)

Notes to the Financial Statements
for the year ended 30th June 2024

1. STATUTORY INFORMATION

Bonus Electrical 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.

The principle accounting policies have remained unchanged from the previous year and are set out below.

Turnover
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation and any provision for impairment. Depreciation is provided on cost in equal annual instalments over the estimated useful lives of the assets. The estimated useful lives are as follows:

Plant and equipment - 7 years
Motor vehicles - 4 years
Leasehold property - 100 years

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.


Bonus Electrical Limited (Registered number: 01191139)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs
The company operates a defined contribution pension scheme for certain employees. The pension cost represents the contribution payable to the pension schemes in respect of the accounting period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 4,599
At 30th June 2024 4,599
AMORTISATION
Charge for year 57
At 30th June 2024 57
NET BOOK VALUE
At 30th June 2024 4,542

Bonus Electrical Limited (Registered number: 01191139)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st July 2023 1,148,859 356,069 1,504,928
Additions - 12,349 12,349
Disposals - (20,000 ) (20,000 )
At 30th June 2024 1,148,859 348,418 1,497,277
DEPRECIATION
At 1st July 2023 - 219,269 219,269
Charge for year 13,648 30,420 44,068
Eliminated on disposal - (15,417 ) (15,417 )
At 30th June 2024 13,648 234,272 247,920
NET BOOK VALUE
At 30th June 2024 1,135,211 114,146 1,249,357
At 30th June 2023 1,148,859 136,800 1,285,659

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 692,100 959,254
Amounts owed by fellow subsidiaries 24,127 299,613
Other debtors 81,727 118,838
797,954 1,377,705

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 566,158 861,964
Amounts owed to fellow subsidiaries 182,929 -
Taxation and social security 204,062 160,369
Other creditors 133,613 117,511
1,086,762 1,139,844

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,003 Called up, allotted and fully
paid £1 2,003 2,003

Bonus Electrical Limited (Registered number: 01191139)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Bramall BSc FCA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

10. CONTINGENT LIABILITIES

The company has given unlimited guarantees in respect of the bank borrowings of fellow group companies. The amount outstanding under this guarantee at 30 June 2024 was £817,729 (2023 £2,865,970).

National Westminster Bank PLC hold a charge created on 27th June 1980. The charge consists of a fixed and floating charge over all assets. The floating charge covers all of the property or undertaking of the company. The charge contains a negative pledge.

11. RELATED PARTY DISCLOSURES

Included in other creditors are loans from the directors.These loans are unsecured, interest free, repayable on demand and amount to £95,121 (2023 £83,359).

Rent is paid from Bonus Electrical to the Directors Pension Turst scheme amounting to £61,869 (2023: £61,869).

12. 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.