COMPANY REGISTRATION NUMBER:
16123876
|
BONINGALE DEVELOPMENTS LIMITED |
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
|
BONINGALE DEVELOPMENTS LIMITED |
|
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STATEMENT OF FINANCIAL POSITION |
|
30 November 2025
CURRENT ASSETS
|
Stocks |
4 |
1,517,420 |
|
|
Debtors |
5 |
253,355 |
|
|
------------ |
|
|
1,770,775 |
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
6 |
2,450,859 |
|
|
------------ |
|
|
NET CURRENT LIABILITIES |
|
680,084 |
|
|
--------- |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
|
(
680,084) |
|
|
--------- |
|
NET LIABILITIES |
|
(
680,084) |
|
|
--------- |
|
|
|
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CAPITAL AND RESERVES
|
Called up share capital |
|
1 |
|
Profit and loss account |
|
(
680,085) |
|
|
--------- |
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SHAREHOLDERS DEFICIT |
|
(
680,084) |
|
|
--------- |
|
|
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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 period ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their 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
13 August 2026
, and are signed on behalf of the board by:
Company registration number:
16123876
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BONINGALE DEVELOPMENTS LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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Period from 9 December 2024 to 30 November 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 Longhouse Office, 56 High Street, Albrighton, Wolverhampton, WV7 3JH.
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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress Housing work in progress is stated at the lower of direct cost and net realisable value. Direct costs include direct materials, labour costs, site overheads, associated professional charges and other attributable overheads. Net realisable value is assessed by estimating selling prices and costs, including sales and marketing expenses, taking into account current market conditions. Work in progress also includes professional costs in relation to speculative sites where the Company promotes other landowners' land through the planning process, for ultimate sale to residential property developers, under commercial contracts. The activity of the business is such that the individual projects are long term in nature. Work in progress in relation to these speculative sites has been accounted for using the policy described above. However it is uncertain that the net realisable values are equivalent to the carrying values reflecting within work in progress. Realisation of the values reflected in the financial statements is largely dependent upon obtaining planning consent and being able to sell the enhanced site to developers. Given this, there is some uncertainty as to the net realisable value of each site. However, the Directors consider that the planning processes are currently progressing well, and each site is in a more positive state from a planning viewpoint than when the Company acquired its interests, and they are optimistic that the enhanced planning consents will eventually be obtained. Any failure or material adverse change in the ability to achieve planning permission on an individual site would result in substantial write downs to the carry values of the Company's work in progress, and this is assessed on a case-by-case basis by Management. At each reporting date, stocks are assessed for impairment. If stock is impaired, a write down is applied based on planning probability and contractual status. The impairment loss is recognised immediately in profit or loss.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contractual arrangement that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
STOCKS
|
30 Nov 25 |
|
£ |
|
Work in progress |
1,517,420 |
|
------------ |
|
|
5.
DEBTORS
|
30 Nov 25 |
|
£ |
|
Other debtors |
253,355 |
|
--------- |
|
|
6.
CREDITORS:
amounts falling due within one year
|
30 Nov 25 |
|
£ |
|
Trade creditors |
108,652 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
2,340,207 |
|
Other creditors |
2,000 |
|
------------ |
|
2,450,859 |
|
------------ |
|
|
7.
RELATED PARTY TRANSACTIONS
The company trades out of premises owned by the directors for which no rent is charged
.
8.
GOING CONCERN
The company is part of a larger group that is well funded and the accounts are prepared on the going concern basis.