REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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BONNINGTON BLOOMSBURY LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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BONNINGTON BLOOMSBURY LIMITED |
BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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BONNINGTON BLOOMSBURY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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DIRECTORS: |
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SECRETARIES: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
Railview Lofts |
19c Commercial Road |
Eastbourne |
East Sussex |
BN21 3XE |
BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214) |
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BALANCE SHEET |
31 DECEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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. |
BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214) |
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BALANCE SHEET - continued |
31 DECEMBER 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Bonnington Bloomsbury Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions for "Small |
Entities" under Section 1A Financial Reporting Standard 102 "The Financial Reporting Standard |
applicable in the UK and republic of Ireland" and the Companies Act 2006. The financial statements |
have been prepared under the historical cost convention. |
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During the year, the company received rent and insurance recharges equal to rent and insurance |
payable. Thus the overheads created a small annual loss. Since the year end the tenancy producing |
the rental income and insurance recharges ceased but there remains an ongoing liability to rental & |
insurance costs. Though the company will generate an annual loss for the foreseeable future, |
Bonnington Group Ltd has confirmed that it will provide ongoing support from other profitable |
operations & resources within the UK group of companies. What is not known is the impact of the |
Coronavirus outbreak on the company's ability to replace the tenant. However given the ongoing |
support from Bonnington Group Ltd, the directors believe it remains appropriate for the financial |
statements to be prepared on a going concern basis. |
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The financial statements have been prepared on the basis that the company will continue to |
undertake activity for the foreseeable future. |
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Turnover |
Turnover represents rental income and insurance recharges net of value added tax receivable under |
an operating lease and is recognised in the period to which the rental income relates. |
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Tangible fixed assets |
Land and buildings have been fully depreciated as the assets have no value in use and are not |
believed to have a resale value. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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Functional currency |
The company's functional currency as defined by section 30 Financial Reporting Standard 102 is |
sterling. |
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Financial instruments |
The company's principal financial instruments comprise bank balances, trade debtors, trade |
creditors, and loans to/ from other group companies. The main purpose of these instruments is to |
finance the company's operations. |
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Due to the nature of the financial instruments used by the group there is no exposure to price risk. |
The group's approach to managing other risks applicable to the financial instruments concerned is |
shown below. |
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Trade debtors are managed in respect of credit and cash flow risk by policies determining the credit |
offered to customers and the regular monitoring of amounts outstanding for both time and credit |
limits. |
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In respect of loans between group companies, these are interest free and have no fixed repayment |
terms. The directors are aware of each group company's required finance and have determined that |
these will only be repaid, in whole or in part, when funding is available. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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4. | TANGIBLE FIXED ASSETS |
Short |
leasehold |
£ |
COST |
At 1 January 2019 |
and 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
and 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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BONNINGTON BLOOMSBURY LIMITED (REGISTERED NUMBER: 05888214) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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7. | LEASING AGREEMENTS - continued |
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The above lease is guaranteed by the parent company Bonnington Group Limited. The lease ends on |
the 6th September 2031. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary shares | £1 | 1 | 1 |
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9. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under paragraph 33.1A of Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to |
disclose related party transactions between two or more members of a group as any subsidiary |
party to related party transactions are wholly owned by such member. |
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The company is a wholly owned subsidiary of Bonnington Group Ltd. |
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10. | ULTIMATE CONTROLLING PARTY |
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The company's ultimate controlling party is the company's director J J McGettigan by virtue of his majority shareholding in the company's ultimate parent company. |
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11. | CONSOLIDATED FINANCIAL STATEMENTS |
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The company is a wholly owned subsidiary of Bonnington Group Limited and of its ultimate parent, |
McGettigan Ltd. Bonnington Group Ltd is exempt by virtue of section 399 of the Companies Act |
2006 from the requirement to prepare consolidated financial statements. Copies of the financial |
statements for Bonnington Group Limited can be obtained from Companies House in the United |
Kingdom and for McGettigan Ltd from Companies Registration Office in Ireland. |