REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2025 |
FOR |
BONE BROS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2025 |
FOR |
BONE BROS LIMITED |
BONE BROS LIMITED (REGISTERED NUMBER: 02401216) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BONE BROS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2025 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BONE BROS LIMITED (REGISTERED NUMBER: 02401216) |
BALANCE SHEET |
31 JANUARY 2025 |
31.1.25 | 31.1.24 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
BONE BROS LIMITED (REGISTERED NUMBER: 02401216) |
BALANCE SHEET - continued |
31 JANUARY 2025 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BONE BROS LIMITED (REGISTERED NUMBER: 02401216) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2025 |
1. | STATUTORY INFORMATION |
Bone Bros Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02401216 and the registered office is Victoria House, 26 Queen Victoria Street, Reading, RG1 1TG. |
The principal activity of the company is the year under review was that of commercial property lettings and management. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in Pound Sterling (£), which is also the functional currency of the company. |
Significant judgements and estimates |
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The accounting estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The accounting estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods. |
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are considered to be the valuation of investment property. As described in the notes to the accounts, investment property is stated at fair value based on the valuation performed by independent professional valuers with experience in the location and category of property valued. The valuers have used observable market prices adjusted as necessary for any difference in the future and condition of the property. |
Turnover |
Revenue (described as Turnover) is measured at the fair value of consideration receivable. Revenue from property rental and related service charges is recognised as it becomes receivable under leasehold agreements. |
BONE BROS LIMITED (REGISTERED NUMBER: 02401216) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2025 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible assets are stated at cost less accumulated depreciation and any accumulated impairment losses.Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - 25% reducing balance basis |
Motor vehicles | - 25% reducing balance basis |
At each reporting date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication of impairment. Any impairment is charged to profit or loss. |
Investment property |
The investment property has been included in the accounts at market value. This is considered on an annual basis by the directors. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties. |
Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at transaction price. |
Taxation |
Tax on profit represents the sum of the tax currently payable and deferred tax. |
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior |
years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively |
enacted by the period end. |
Deferred tax arises from timing differences that are differences between taxable profits and total |
comprehensive income as stated in the financial statements. These 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 recognised on all timing differences at the reporting date. Unrelieved tax losses and |
other deferred tax assets are only recognised when 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 tax rates and laws that have been enacted or substantively enacted by |
the period end and that are expected to apply to the reversal of the timing difference. |
BONE BROS LIMITED (REGISTERED NUMBER: 02401216) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2025 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The obligation for contributions to defined contribution schemes are recognised as an expense as incurred. Pension scheme assets of are held separately from the company in independent administered funds. |
Going concern |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 February 2024 |
Additions |
At 31 January 2025 |
DEPRECIATION |
At 1 February 2024 |
Charge for year |
At 31 January 2025 |
NET BOOK VALUE |
At 31 January 2025 |
At 31 January 2024 |
BONE BROS LIMITED (REGISTERED NUMBER: 02401216) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2025 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2024 |
and 31 January 2025 |
NET BOOK VALUE |
At 31 January 2025 |
At 31 January 2024 |
Investment property was valued at £2,100,000 on an open market basis on 3 August 2022 by Quinton Edwards, Chartered Surveyors. The directors consider the fair value of investment property is an appropriate estimation of the open market value as at 31 January 2025. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.25 | 31.1.24 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |