Bonasystems Europe Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06767604

Bonasystems Europe Ltd

Filleted Unaudited Financial Statements

30 September 2024

Bonasystems Europe Ltd

Directors' Report

Year ended 30 September 2024

The directors present their report and the unaudited financial statements of the company for the year ended 30 September 2024 .

Directors

The directors who served the company during the year were as follows:

G Gordon
I Haddock
D Grayson

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 18 June 2025 and signed on behalf of the board by:

I Haddock

Director

Registered office:

Belasis Hall Technology Park

Coxwold Way

Bellingham

TS23 4EA

Bonasystems Europe Ltd

Statement of Financial Position

30 September 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		3,022	4,022

Current assets

Stocks		26,130	19,144
Debtors	7	54,284	94,336
Cash at bank and in hand		13,734	5,802
		--------	---------
		94,148	119,282

Creditors: amounts falling due within one year	8	269,590		252,809
		---------		---------
Net current liabilities			175,442	133,527
			---------	---------
Total assets less current liabilities			( 172,420)	( 129,505)

Creditors: amounts falling due after more than one year	9	24,003	28,449
		---------	---------
Net liabilities		( 196,423)	( 157,954)
		---------	---------

Capital and reserves

Called up share capital	691,160	691,160
Share premium account	159,840	159,840
Profit and loss account	( 1,047,423)	( 1,008,954)
	------------	------------
Shareholders deficit	( 196,423)	( 157,954)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Bonasystems Europe Ltd

Statement of Financial Position (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 18 June 2025 , and are signed on behalf of the board by:

I Haddock

Director

Company registration number: 06767604

Bonasystems Europe Ltd

Notes to the Financial Statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Belasis Hall Technology Park, Coxwold Way, Bellingham, TS23 4EA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities at fair value through profit or loss.

Invoice discounting

The company has entered into an invoice discounting agreement, wherby it receives a proportion of its sales invoices as an advance. The relevant sales invoices are included in trade debtors, but are assigned to the factors. Advances are disclosed in the balance sheet as current liabilities.

Going concern

The nature of the company's business is such that there can be unpredictable variation in the timing of cash inflows. In the directors' opinion the company, based upon financial information held, will trade for the forseeable future. On this basis, the directors considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of support from its creditors.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	over 10 years straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.

Stocks

Stocks are measured 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 the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 5 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 October 2023 and 30 September 2024	262,947
	---------
Amortisation
At 1 October 2023 and 30 September 2024	262,947
	---------
Carrying amount
At 30 September 2024	–
	---------
At 30 September 2023	–
	---------

6. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 October 2023 and 30 September 2024	13,974	13,974
	--------	--------
Depreciation
At 1 October 2023	9,952	9,952
Charge for the year	1,000	1,000
	--------	--------
At 30 September 2024	10,952	10,952
	--------	--------
Carrying amount
At 30 September 2024	3,022	3,022
	--------	--------
At 30 September 2023	4,022	4,022
	--------	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	46,406	62,116
Amounts owed by group undertakings and undertakings in which the company has a participating interest	844	2,000
Other debtors	7,034	30,220
	--------	--------
	54,284	94,336
	--------	--------

Trade debtors are financed through an invoice discounting facility.

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	99,473	97,891
Amounts owed to group undertakings and undertakings in which the company has a participating interest	86,500	18,561
Social security and other taxes	55,725	78,683
Other creditors	27,892	57,674
	---------	---------
	269,590	252,809
	---------	---------

Included within "other creditors" is an amount of £27,774 (2023:£52,736) owed to an invoice discounting house. This is secured by a fixed and floating charge on all of the company's assets.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	24,003	28,449
	--------	--------

10. Controlling party

The company was under the control of Mr M J Every throughout the current year and prior year.