Bonefish Capital Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08513050 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2018

FOR

BONEFISH CAPITAL LTD

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Investment property

4

1,773,591

1,773,591

Current assets

Debtors

5

11,124

7,732

Cash at bank

102,420

296,937

113,544

304,669

Creditors

Amounts falling due within one year

6

1,071,609

1,274,027

Net current liabilities

(958,065

)

(969,358

)

Total assets less current liabilities

815,526

804,233

Creditors

Amounts falling due after more than one year

7

615,092

648,905

Net assets

200,434

155,328

Capital and reserves

Called up share capital

9

1

1

Retained earnings

200,433

155,327

Shareholders' funds

200,434

155,328

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 28 February 2019 and were signed on its behalf by:

Mr N A Holtby - Director

Mrs J Holtby - Director

1.	Statutory information

Bonefish Capital Limited is a private company, limited by shares, registered in England and Wales. The company's registered

number is 08513050. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is

Culeaze House, Bere Regis, Wareham, Dorset, BH20 7NR.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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.

Turnover

Turnover represents rents receivable. Rental income is recognised on a straight line basis over the term of the lease.

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.

Gains are recognised in the statement of comprehensive income. Deferred taxation is provided on these gains at the rate

expected to apply when the property is sold.

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 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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the

contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract

that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any

losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The

company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions

provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3.	Employees and directors

The average number of employees during the year was 2 (2017 - 2 ) .

4.	Investment property

Total

£

Fair value

At 1 June 2017

and 31 May 2018

1,773,591

Net book value

At 31 May 2018

1,773,591

At 31 May 2017

1,773,591

5.

Debtors: amounts falling due within one year

2018

2017

£

£

Trade debtors

11,124

7,732

6.

Creditors: amounts falling due within one year

2018

2017

£

£

Bank loans and overdrafts

34,030

34,030

Trade creditors

3,479

2,790

Amounts owed to group undertakings

24,000

20,000

Tax

21,934

10,415

Directors' current accounts

985,346

1,204,492

Accrued expenses

2,820

2,300

1,071,609

1,274,027

7.

Creditors: amounts falling due after more than one year

2018

2017

£

£

Bank loans - 1-5 years

615,092

648,905

8.	Secured debts

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

649,122

682,935

The bank loan is secured by way of a fixed and floating charge in favour of The Royal Bank of Scotland, over the company

assets and legal charges over the freehold of St Thomas Vicarage, 21 Bolton Road, Salford.

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1

Ordinary

£1

1

1

10.	Ultimate controlling party

The company is controlled by its directors who between them own 100% of the voting share capital in the ultimate parent

company, Bonefish Capital Holdings Limited.