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Company No: 01027955 (England and Wales)

BONDCLIFF LIMITED

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

BONDCLIFF LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

BONDCLIFF LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
BONDCLIFF LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTORS C R Ringham
J Ringham (Appointed 01 August 2024)
S J Ringham
SECRETARY S J Ringham
REGISTERED OFFICE The Old Vicarage
Main Street
Farnsfield
NG22 8EA
United Kingdom
COMPANY NUMBER 01027955 (England and Wales)
ACCOUNTANT Duncan & Toplis Limited
14 London Road
Newark
NG24 1TW
United Kingdom
BONDCLIFF LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
BONDCLIFF LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 20,325 25,348
Investment property 4 7,480,000 7,480,000
7,500,325 7,505,348
Current assets
Debtors 5 19,891 44,083
Cash at bank and in hand 3,214,494 2,961,491
3,234,385 3,005,574
Creditors: amounts falling due within one year 6 ( 186,009) ( 208,028)
Net current assets 3,048,376 2,797,546
Total assets less current liabilities 10,548,701 10,302,894
Provision for liabilities ( 281,000) ( 281,000)
Net assets 10,267,701 10,021,894
Capital and reserves
Called-up share capital 7 65 65
Share premium account 29,985 29,985
Fair value reserve 1,201,117 1,201,117
Profit and loss account 9,036,534 8,790,727
Total shareholders' funds 10,267,701 10,021,894

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

Directors' responsibilities:

The financial statements of Bondcliff Limited (registered number: 01027955) were approved and authorised for issue by the Board of Directors on 12 June 2025. They were signed on its behalf by:

J Ringham
Director
BONDCLIFF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
BONDCLIFF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 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

Bondcliff 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 The Old Vicarage, Main Street, Farnsfield, NG22 8EA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover represents the rents payable to the company in respect of the accounting period, excluding value added tax.

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 Statement of Financial Position 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 or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 10 - 20 % reducing balance

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 63,020 63,020
At 31 October 2024 63,020 63,020
Accumulated depreciation
At 01 November 2023 37,672 37,672
Charge for the financial year 5,023 5,023
At 31 October 2024 42,695 42,695
Net book value
At 31 October 2024 20,325 20,325
At 31 October 2023 25,348 25,348

4. Investment property

Investment property
£
Valuation
As at 01 November 2023 7,480,000
As at 31 October 2024 7,480,000

Valuation

The fair value is determined annually by the directors, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 5,997,881 5,997,881

5. Debtors

2024 2023
£ £
Trade debtors 0 500
Prepayments and accrued income 19,891 43,583
19,891 44,083

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 3,607
Amounts owed to directors 13,938 20,286
Accruals 71,348 65,825
Taxation and social security 98,787 118,310
Other creditors 1,936 0
186,009 208,028

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
65 Ordinary shares of £ 1.00 each 65 65