Caseware UK (AP4) 2025.0.111 2025.0.111 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 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 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 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; the requirements of Section 33 Related Party Disclosures paragraph 33.7.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. 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.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.true true true true true 2025-01-01 false 0 0 true false false 04416864 2025-01-01 2025-12-31 04416864 2024-01-01 2024-12-31 04416864 2025-12-31 04416864 2024-12-31 04416864 2024-01-01 04416864 1 2025-01-01 2025-12-31 04416864 d:Director1 2025-01-01 2025-12-31 04416864 d:Director2 2025-01-01 2025-12-31 04416864 d:RegisteredOffice 2025-01-01 2025-12-31 04416864 d:Agent1 2025-01-01 2025-12-31 04416864 c:CurrentFinancialInstruments 2025-12-31 04416864 c:CurrentFinancialInstruments 2024-12-31 04416864 c:ShareCapital 2025-12-31 04416864 c:ShareCapital 2024-12-31 04416864 c:ShareCapital 2024-01-01 04416864 c:OtherMiscellaneousReserve 2025-01-01 2025-12-31 04416864 c:OtherMiscellaneousReserve 2025-12-31 04416864 c:OtherMiscellaneousReserve 2024-12-31 04416864 c:OtherMiscellaneousReserve 2024-01-01 04416864 c:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 04416864 c:RetainedEarningsAccumulatedLosses 2025-12-31 04416864 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 04416864 c:RetainedEarningsAccumulatedLosses 2024-12-31 04416864 c:RetainedEarningsAccumulatedLosses 2024-01-01 04416864 d:EntityNoLongerTradingButTradedInPast 2025-01-01 2025-12-31 04416864 d:FRS102 2025-01-01 2025-12-31 04416864 d:Audited 2025-01-01 2025-12-31 04416864 d:FullAccounts 2025-01-01 2025-12-31 04416864 d:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 04416864 e:PoundSterling 2025-01-01 2025-12-31 iso4217:GBP xbrli:pure

Financial Statements Bonus Limited For the year ended 31 December 2025 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
Directors' report | 1
Directors' responsibilities statement | 2
Independent auditor's report | 3 - 6
Profit and loss account | 7
Statement of financial position | 8
Statement of changes in equity | 9
Notes to the financial statements | 10 - 14
Bonus Limited
Directors' report For the year ended 31 December 2025 The directors present their report and the financial statements for the year ended 31 December 2025.
Principal activity
The Company did not trade throughout the financial year.
Directors
The directors who served during the year were:
Frank Joseph Salmon
Tom Burke
Disclosure of information to auditor
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Small companies note
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
Auditor
The auditor, Grant Thornton, continues in office in accordance with section 485 of the Companies Act 2006. This report was approved by the board and signed on its behalf.
Tom Burke Director
Date: 30 June 2026
Page 1
Bonus Limited
Directors' responsibilities statement For the year ended 31 December 2025 The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the board: Tom Burke Director Date: 30 June 2026 Page 2
Independent auditor's report to the members of Bonus Limited
Opinion
We have audited the financial statements of Bonus Limited which comprise the Profit and loss account, the Statement of financial position, the Statement of changes in equity for the year ended 31 December 2025, and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in the preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion, Bonus Limited's financial statements: ∙give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 31 December 2025 and of its financial performance for the year then ended; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) ('ISAs (UK)') and applicable law. Our responsibilities under those standards are further described in the 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. We have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue. Our responsibilities, and the responsibilities of the directors, with respect to going concern are described in the relevant sections of this report. Page 3
Independent auditor's report to the members of Bonus Limited (continued)
Other information
Other information comprises the information included in the annual report, other than the financial statements and our Auditor's report thereon, including the Directors' report. The directors are responsible for the other information. Our opinion on the financial statements does not cover the information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Directors' report for the year for which the financial statements are prepared is consistent with the financial statements, and ∙the Directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit; or ∙the directors were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a strategic report or in preparing the Directors' report. Page 4
Independent auditor's report to the members of Bonus Limited (continued)
Responsibilities of management and those charged with governance for the financial statements
Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Company's financial reporting process.
Responsibilities of the auditor for the audit of the financial statements
The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes their opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of an auditor's responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below: Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with data protection requirements in the jurisdictions in which the Company operates and holds data, non-compliance related to employment regulation in the UK and other environment regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and local tax legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off or unusual transactions. We apply professional scepticism through the audit to consider potential deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statement. Page 5
Independent auditor's report to the members of Bonus Limited (continued) Responsibilities of the auditor for the audit of the financial statements (continued) In response to these principal risks, our audit procedures included but were not limited to: ∙inquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud; ∙inspection of the Company’s legal correspondence and review of minutes of board meetings during the year to corroborate inquiries made; ∙gaining an understanding of the internal controls established to mitigate risk related to fraud; ∙discussion amongst the engagement team in relation to the identified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audit; ∙identifying and testing journal entries to address the risk of inappropriate journals and management override of controls; ∙designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing; ∙challenging assumptions and judgements made by management in their significant accounting estimates, including recoverability of debtors; and ∙review of the financial statement disclosures to underlying supporting documentation and inquiries of management. The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.
The purpose of our audit work and to whom we owe our responsibilities
This report is made solely to the Company’s members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s members as a body, for our audit work, for this report, or for the opinions we have formed. Cathal Kelly (Senior statutory auditor) for and on behalf of Grant Thornton Chartered Accountants & Statutory Auditors Dublin 2 Date: 30 June 2026 Page 6
Bonus Limited
Profit and loss account For the year ended 31 December 2025
| 2025 | 2024
Note | £ | £
Cost of sales |  | - | (7,955)
Gross profit/(loss) |  | - | (7,955)
Administrative expenses |  | (220) | (3,142)
Operating loss |  | (220) | (11,097)
Interest receivable and similar income |  | 13,506 | -
Profit/(loss) before tax |  | 13,286 | (11,097)
Tax on profit/(loss) |  | - | -
Profit/(loss) for the financial year |  | 13,286 | (11,097)
All amounts relate to continuing operations. There was no other comprehensive income for 2025 (2024: £Nil). The notes on pages 10 to 14 form part of these financial statements.
Page 7
Bonus Limited Registered number:04416864
Statement of financial position As at 31 December 2025
| 2025 | 2024
Note | £ | £
Current assets |  |  |
Debtors: amounts falling due within one year | 4 | 5,040,722 | 5,032,209
Cash at bank and in hand | 5 | 81 | 2,030
|  | 5,040,803 | 5,034,239
Current liabilities |  |  |
Creditors: amounts falling due within one year | 6 | (54,670) | (61,392)
Net assets |  | 4,986,133 | 4,972,847
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Other reserves | 7 | 216,192 | 216,192
Profit and loss account | 7 | 4,769,940 | 4,756,654
|  | 4,986,133 | 4,972,847
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 were approved and authorised for issue by the board and were signed on its behalf by:
Tom Burke | Frank Joseph Salmon
Director | Director
Date: 30 June 2026 |
The notes on pages 10 to 14 form part of these financial statements. Page 8
Bonus Limited
Statement of changes in equity For the year ended 31 December 2025
| Called up share capital | Other reserves | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2024 | 1 | 216,192 | 4,767,751 | 4,983,944
Loss for the year | - | - | (11,097) | (11,097)
At 1 January 2025 | 1 | 216,192 | 4,756,654 | 4,972,847
Profit for the year | - | - | 13,286 | 13,286
At 31 December 2025 | 1 | 216,192 | 4,769,940 | 4,986,133
| The notes on pages 10 to 14 form part of these financial statements.
Page 9
Bonus Limited
Notes to the financial statements For the year ended 31 December 2025
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 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 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 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙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 2025 and these financial statements may be obtained from 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. Page 10
Bonus Limited
Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 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. 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 Profit and loss account 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. Page 11
Bonus Limited
Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 2.7 | 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.
| 2.8 | 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.
| 2.9 | 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 12
Bonus Limited
Notes to the financial statements For the year ended 31 December 2025
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. | Debtors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 5,040,722 | 5,032,209
| An impairment loss of £Nil (2024: £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.
5. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 81 | 2,030
Page 13
Bonus Limited
Notes to the financial statements For the year ended 31 December 2025
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 24,047 | 24,047
| Corporation tax | - | 13,363
| Other taxation and social security | 12,312 | 11,582
| Other creditors | 18,311 | 12,400
|  | 54,670 | 61,392
| Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
7. | 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.
8. | 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.
9. | 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.
10. | 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.
Page 14