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Registered number: 13477976









BNF RESOURCES (UK) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BNF RESOURCES (UK) LIMITED
REGISTERED NUMBER: 13477976

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
186,574,359
101,025,641

Current assets
  

Cash at bank and in hand
  
15,034,328
20,041,623

Creditors: amounts falling due within one year
 5 
(15,423,901)
(60,410,000)

Net current liabilities
  
 
 
(389,573)
 
 
(40,368,377)

Total assets less current liabilities
  
186,184,786
60,657,264

  

Net assets
  
186,184,786
60,657,264


Capital and reserves
  

Called up share capital 
  
100,000,000
40,000,000

Profit and loss account
  
86,184,786
20,657,264

  
186,184,786
60,657,264


Page 1

 
BNF RESOURCES (UK) LIMITED
REGISTERED NUMBER: 13477976
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Nicholas James Fallows
Director

Date: 15 July 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
BNF RESOURCES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

BNF Resources (UK) Limited ('the Company') is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 13477976). The registered office address is 26 St James’s Square, London, SW1Y 4JH. The principal activity of the Company is to to preserve and grow the assets under management on behalf of the shareholders.
The Company's functional and presentational currency is GBP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
BNF RESOURCES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2024
101,025,641


Additions
20,000,000


Revaluations
65,548,718



At 31 December 2024
186,574,359





5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
15,410,000
60,410,000

Corporation tax
13,901
-

15,423,901
60,410,000


Amounts owed to group undertakings comprise of shareholder loans. The loans are interest free and repayable on demand.

Page 4

 
BNF RESOURCES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Controlling party

The immediate parent undertaking is BNF Resources Limited, a company registered in Guernsey. The parent's registered office is St Julian's Court, St Julian's Avenue, St Peter Port, GY1 4NA. The parent company does not prepare consolidated financial statements and the single entity accounts it does prepare are not available to the public.
The directors do not consider there to be an ultimate controlling party.

Page 5