Bond Housing Group (Lincoln) Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10132214

BOND HOUSING GROUP (LINCOLN) LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

5 April 2025

BOND HOUSING GROUP (LINCOLN) LTD

STATEMENT OF FINANCIAL POSITION

5 April 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	279	349
Investments	6	4,939,400	2,995,851
		-------------	-------------
		4,939,679	2,996,200

Current assets

Debtors	7	336,166	785,898
Cash at bank and in hand		348,621	658,917
		----------	-------------
		684,787	1,444,815

Creditors: amounts falling due within one year	8	54,568	57,553
		----------	-------------
Net current assets		630,219	1,387,262
		-------------	-------------
Total assets less current liabilities		5,569,898	4,383,462

Creditors: amounts falling due after more than one year	9	4,919,679	4,793,756

Provisions	283,263	54,658
	-------------	-------------
Net assets/(liabilities)	366,956	( 464,952)
	-------------	-------------

BOND HOUSING GROUP (LINCOLN) LTD

STATEMENT OF FINANCIAL POSITION (continued)

5 April 2025

	2025	2024
Note	£	£

Capital and reserves

Called up share capital	100	1
Profit and loss account	366,856	( 464,953)
	----------	----------
Shareholder funds/(deficit)	366,956	( 464,952)
	----------	----------

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 comprehensive income has not been delivered.

For the year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 31 October 2025 , and are signed on behalf of the board by:

R S Hunter
Director

Company registration number: 10132214

BOND HOUSING GROUP (LINCOLN) LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 5 APRIL 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Place Homes Lincoln, Sparkhouse Studios, Ropewalk, Lincoln, Lincolnshire, LN6 7DQ, England.

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 and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made or other conditions arise. Significant judgements: No judgements have been made which would have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty: Investment property valuations - investment properties are revalued each year end by the director at open market value.

Revenue recognition

Turnover represents gross rental income, net of value added tax where applicable, and is recognised on an accruals basis.

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.

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.

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:

Motor vehicles	-	33% straight line
Equipment	-	20% reducing balance

Investments

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued by the director to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

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. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are recognised at fair value, with any subsequent changes to fair value recognised in profit or loss.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 6 April 2024 and 5 April 2025	19,530	388	19,918
	---------	----	---------
Depreciation
At 6 April 2024	19,530	39	19,569
Charge for the year	–	70	70
	---------	----	---------
At 5 April 2025	19,530	109	19,639
	---------	----	---------
Carrying amount
At 5 April 2025	–	279	279
	---------	----	---------
At 5 April 2024	–	349	349
	---------	----	---------

6. Investments

	Shares in group undertakings	Investment property	Total
	£	£	£
Cost
At 6 April 2024	100	2,995,751	2,995,851
Additions	300	989,963	990,263
Revaluations	–	953,286	953,286
	----	-------------	-------------
At 5 April 2025	400	4,939,000	4,939,400
	----	-------------	-------------
Impairment
At 6 April 2024 and 5 April 2025	–	–	–
	----	-------------	-------------

Carrying amount
At 5 April 2025	400	4,939,000	4,939,400
	----	-------------	-------------
At 5 April 2024	100	2,995,751	2,995,851
	----	-------------	-------------

Investment properties are revalued each year by the director at open market value. At 5 April 2025 the historical cost of investment properties was £3,707,167 (2024: £2,717,204).

7. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	822	687
Other debtors	335,344	785,211
	----------	----------
	336,166	785,898
	----------	----------

Included within Other Debtors are amounts loaned to Third Party property investors, these amounts total £262,320 (2024: £461,000). There are set repayment terms and interest is charged.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	15,546	10,000
Trade creditors	26,423	26,636
Social security and other taxes	–	1,496
Other creditors	12,599	19,421
	---------	---------
	54,568	57,553
	---------	---------

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

	2025	2024
	£	£
Bank loans and overdrafts	1,434,596	1,717,229
Other creditors	3,485,083	3,076,527
	-------------	-------------
	4,919,679	4,793,756
	-------------	-------------

Bank loans totalling £1,407,223 (2024: £1,682,623) are secured on the investment property portfolio.

Other creditors due in more than one year comprise interest-free director's loans.

10. Related party transactions

Included within other debtors is an amount of £28,943 (2024: £295,052), and included within other creditors is an amount of £Nil (2024: £108,225) owed to and from companies under common control. No other transactions with related parties were undertaken such as are required to be disclosed under FRS102 (section 1A).

11. Controlling party

The company was under the control of R S Hunter throughout the current and previous year.