REGISTERED NUMBER: 01994113 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BONNERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A J White

SECRETARY:

A J White

REGISTERED OFFICE:

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

01994113 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,248,964

1,300,853

Investment property

6

1,085,000

1,537,000

2,333,964

2,837,853

CURRENT ASSETS

Stocks

994,694

1,059,778

Debtors

7

821,434

28,959

Cash at bank and in hand

821,282

1,367,749

2,637,410

2,456,486

CREDITORS

Amounts falling due within one year

8

(1,286,906

)

(1,492,579

)

NET CURRENT ASSETS

1,350,504

963,907

TOTAL ASSETS LESS CURRENT LIABILITIES

3,684,468

3,801,760

CREDITORS

Amounts falling due after more than one year

9

(1,052,756

)

(1,117,384

)

PROVISIONS FOR LIABILITIES

(31,865

)

(111,139

)

NET ASSETS

2,599,847

2,573,237

CAPITAL AND RESERVES

Called up share capital

11

600

600

Non distributable reserves

107,910

485,385

Retained earnings

2,491,337

2,087,252

SHAREHOLDERS' FUNDS

2,599,847

2,573,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 May 2025 and were signed by:

A J White - Director

1.	STATUTORY INFORMATION

Bonners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of one years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

No provision for depreciation is made in respect of the freehold properties as the directors consider such a charge to be immaterial. Annual impairment reviews are conducted to support the carrying value with any diminution in value being recognised in the period in which it occurs.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from bank and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at the amortised cost using the effective interest method

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 profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is no intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

38,000

AMORTISATION

At 1 January 2024

and 31 December 2024

38,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2024

1,128,035

575,727

56,406

Additions

-

34,635

-

Disposals

-

-

-

At 31 December 2024

1,128,035

610,362

56,406

DEPRECIATION

At 1 January 2024

-

456,888

41,775

Charge for year

-

89,341

3,006

Eliminated on disposal

-

-

-

At 31 December 2024

-

546,229

44,781

NET BOOK VALUE

At 31 December 2024

1,128,035

64,133

11,625

At 31 December 2023

1,128,035

118,839

14,631

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2024

280,443

64,344

2,104,955

Additions

4,823

18,990

58,448

Disposals

-

(16,448

)

(16,448

)

At 31 December 2024

285,266

66,886

2,146,955

DEPRECIATION

At 1 January 2024

260,792

44,647

804,102

Charge for year

6,357

9,018

107,722

Eliminated on disposal

-

(13,833

)

(13,833

)

At 31 December 2024

267,149

39,832

897,991

NET BOOK VALUE

At 31 December 2024

18,117

27,054

1,248,964

At 31 December 2023

19,651

19,697

1,300,853

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

18,990

At 31 December 2024

18,990

DEPRECIATION

Charge for year

4,748

At 31 December 2024

4,748

NET BOOK VALUE

At 31 December 2024

14,242

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

1,537,000

Disposals

(452,000

)

At 31 December 2024

1,085,000

NET BOOK VALUE

At 31 December 2024

1,085,000

At 31 December 2023

1,537,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2011

109,823

Valuation in 2012

7,500

Valuation in 2018

75,000

Valuation in 2022

(66,441

)

Cost

959,118

1,085,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

959,118

1,006,518

Investment property was valued on an open market basis on 31 December 2024 by the Directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

185

506

Amounts owed by group undertakings

786,153

-

Other debtors

23,024

13,569

Prepayments

12,072

14,884

821,434

28,959

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

70,000

70,000

Hire purchase contracts

8,357

3,605

Trade creditors

846,746

872,880

Tax

103,347

201,979

Social security and other taxes

10,951

10,509

VAT

117,180

110,169

Other creditors

130,058

223,170

Directors' current accounts

87

87

Accrued expenses

180

180

1,286,906

1,492,579

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

70,000

70,000

Bank loans - 2-5 years

280,000

280,000

Bank loans more 5 yr by instal

695,500

765,500

Hire purchase contracts

7,256

1,884

1,052,756

1,117,384

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

695,500

765,500

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

1,115,500

1,185,500

The debts are secured by fixed charge over freehold and investment property.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

50

Ordinary A

£1

50

50

50

Ordinary B

£5

250

250

50

Ordinary C

£1

50

50

50

Ordinary D

£5

250

250

600

600

12.	ULTIMATE CONTROLLING PARTY

The controlling party is A J White.