Caseware UK (AP4) 2023.0.135 2023.0.135 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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": the requirements of Section 7 Statement of Cash Flows; the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.48; 11.48(a)(iii), 11.48 (a)(iv), 11.48(b), 11.48 (c) the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29; and the requirements of Section 33 Related Party Disclosures paragraph 33.7.2025-05-21Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.When preparing the financial statements, management undertakes a number of judgments, estimates and assumptions about the recognition and measurement of assets, liabilities, income and expenses. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The following are significant management judgments in applying the accounting policies of the Company that have the most significant effect on the financial statements. Judgments In the process of applying the Company’s accounting policies, management has made the following judgments, apart from those involving estimations, which have the most significant effect on the amounts recognised in the financial statements: Estimation uncertainties Information about estimates and assumptions that have the most significant effect on recognition and measurement of assets, liabilities, income and expenses is provided below. Actual results may be substantially different.2025-05-21The principal activity of the Company during the year was the distribution of computer products, solutions and services specifically focused upon data storage products, networking, enterprise software and consumer technology0true2024-01-01false0truetruefalse 04416864 2024-01-01 2024-12-31 04416864 2023-01-01 2023-12-31 04416864 2024-12-31 04416864 2023-12-31 04416864 2023-01-01 04416864 1 2024-01-01 2024-12-31 04416864 d:Director1 2024-01-01 2024-12-31 04416864 d:Director4 2024-01-01 2024-12-31 04416864 d:RegisteredOffice 2024-01-01 2024-12-31 04416864 d:Agent1 2024-01-01 2024-12-31 04416864 c:CurrentFinancialInstruments 2024-01-01 2024-12-31 04416864 c:CurrentFinancialInstruments 2024-12-31 04416864 c:CurrentFinancialInstruments 2023-12-31 04416864 c:ShareCapital 2024-12-31 04416864 c:ShareCapital 2023-12-31 04416864 c:ShareCapital 2023-01-01 04416864 c:OtherMiscellaneousReserve 2024-01-01 2024-12-31 04416864 c:OtherMiscellaneousReserve 2024-12-31 04416864 c:OtherMiscellaneousReserve 2023-12-31 04416864 c:OtherMiscellaneousReserve 2023-01-01 04416864 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 04416864 c:RetainedEarningsAccumulatedLosses 2024-12-31 04416864 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04416864 c:RetainedEarningsAccumulatedLosses 2023-12-31 04416864 c:RetainedEarningsAccumulatedLosses 2023-01-01 04416864 d:FRS102 2024-01-01 2024-12-31 04416864 d:Audited 2024-01-01 2024-12-31 04416864 d:FullAccounts 2024-01-01 2024-12-31 04416864 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04416864 d:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04416864 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

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Financial Statements
Bonus Limited
For the year ended 31 December 2024





































Registered number: 04416864
 
Bonus Limited
 

Company Information


Directors
Frank Joseph Salmon 
Tom Burke 




Registered number
04416864



Registered office
15 Worship Street
London

EC2A 2DT

England




Independent auditor
Grant Thornton
Chartered Accountants & Statutory Auditors

13-18 City Quay

Dublin 2




Bankers
Barclays Bank plc
119 Waterloo

London

United Kingdom

SE1 8UL




Solicitors
Squire Patton Boggs (UK) LLP
7 Devonshire Square

Cutlers Gardens

London

EC2M 4YH




 
Bonus Limited
 

Contents



Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8

 
Bonus Limited
Registered number:04416864

Statement of financial position
As at 31 December 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
5,032,209
5,000,946

Cash at bank and in hand
 6 
2,030
32,361

  
5,034,239
5,033,307

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(61,392)
(49,363)

Net assets
  
4,972,847
4,983,944


Capital and reserves
  

Called up share capital 
  
1
1

Other reserves
 8 
216,192
216,192

Profit and loss account
 8 
4,756,654
4,767,751

  
4,972,847
4,983,944


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 comprehensive income 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: 




Tom Burke
Director

Date: 21 May 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 1
 
Bonus Limited
 

Statement of changes in equity
For the year ended 31 December 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
1
216,192
4,752,073
4,968,266



Profit for the year
-
-
15,678
15,678



At 1 January 2024
1
216,192
4,767,751
4,983,944



Loss for the year
-
-
(11,097)
(11,097)


At 31 December 2024
1
216,192
4,756,654
4,972,847


The notes on pages 3 to 8 form part of these financial statements.

Page 2
 
Bonus Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

1.


General information

Bonus Limited ("the Company") is a private company limited by shares and incorporated in the United Kingdom. The Company's registered office is 2nd Floor, 15 Worship Street, London, United Kingdom, EC2A 2DT. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared with applicable accounting standards including Financial Reporting Standard 102 - the Financial Reporting Standard applicable in the UK and the Republic of Ireland ('FRS102') and with legislation including the Companies Act 2006. 

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

  
2.2

Financial reporting standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

−the requirements of Section 7 Statement of Cash Flows;
−the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
−the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.48; 11.48(a)(iii), 11.48 (a)(iv), 11.48(b), 11.48 (c)
−the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29; and
−the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Storit Limited as at 31 December 2024 and these financial statements may be obtained from the Companies Registration Office in Ireland.

 
2.3

Going concern

Given the Company is not trading and the relationships with its Group the directors assess that the monies on hand are ample to satisfy the projected needs of the Company for the foreseeable term. CMS Distribution Limited will not demand collection of amounts owed which amounted to £24,047 until the Company has the financial capacity to settle its obligations and will also provide the financial support necessary to enable the Company to meet their liabilities as they fall due to the extent the Company has insufficient resources to meet its liabilities.

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
Page 3
 
Bonus Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.4
Foreign currency translation (continued)


At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
 
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

 Taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

 Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4
 
Bonus Limited
 

Notes to the financial statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.8

 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.

 
2.9

 Creditors

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

 
2.10

 Financial instruments

The Company only enters into basic financial instrument 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, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5
 
Bonus Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

When preparing the financial statements, management undertakes a number of judgments, estimates and assumptions about the recognition and measurement of assets, liabilities, income and expenses. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The following are significant management judgments in applying the accounting policies of the Company that have the most significant effect on the financial statements.

Judgments
In the process of applying the Company’s accounting policies, management has made the following judgments, apart from those involving estimations, which have the most significant effect on the amounts recognised in the financial statements:

Classifying the Company's financial instruments
The Company classifies a financial instrument, or its component parts, on initial recognition as a financial asset, a financial liability or an equity instrument in accordance with the substance of the contractual agreement and the definitions of a financial asset, a financial liability or an equity instrument. The substance of a financial instrument, rather than its legal form, governs its classification in the financial statements.
 
Estimation uncertainties
Information about estimates and assumptions that have the most significant effect on recognition and measurement of assets, liabilities, income and expenses is provided below. Actual results may be substantially different.

Recoverability of debtors
The Company has made judgments when assessing the impairment of its debtors. Outstanding balances have been grouped on the basis of similar risk characteristics such as past-due status, and impairment has been reviewed with reference to historical loss experience updated for current conditions.


4.


Employees


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


Page 6
 
Bonus Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

5.


Debtors: Amounts falling due within one year

2024
2023
£
£


Amounts owed by group undertakings
5,032,209
4,717,278

Other debtors
-
14,433

Tax recoverable
-
269,235

5,032,209
5,000,946


An impairment loss of £Nil (2023: £Nil) was recognised against trade debtors.

Amounts due by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,030
32,361



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
24,047
23,419

Corporation tax
13,363
-

Other taxation and social security
11,582
16,013

Other creditors
12,400
9,853

Accruals
-
78

61,392
49,363


Trade creditors are payable at various dates in the next three months in accordance with the supplier's usual customary credit terms.
Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

Page 7
 
Bonus Limited
 
 
Notes to the financial statements
For the year ended 31 December 2024

8.


Reserves

Other reserves

Other reserves includes reserves relating to the business combination.

Profit and loss account

Profit and loss account includes all current and prior period retained profits and losses.


9.


Related party transactions

The Company has availed of the exemption in FRS102 Section 33, Paragraph 33.1A which allows non-disclosure of transactions between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.


10.


Post balance sheet events

There have been no significant post balance sheet events affecting the financial position of the Company which would require adjustment to or additional disclosures in the financial statements.


11.


Controlling party

The Company's immediate controlling party and parent undertaking is CMS Distribution Limited, a company registered in the Republic of Ireland.

The largest and smallest consolidated accounts to include the results of the Company are prepared by Storit Limited, the ultimate parent company and are publicly available at the Companies Registration Office, Dublin 1.

The Company's ultimate controlling party is Mr. Frank Salmon, a director and majority shareholder of the ultimate parent company, Storit Limited.


12.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 21 May 2025 by Cathal Kelly (Senior statutory auditor) on behalf of Grant Thornton.

Page 8