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REGISTERED NUMBER: 10021904 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

BON ASSOCIATES LTD

BON ASSOCIATES LTD (REGISTERED NUMBER: 10021904)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


BON ASSOCIATES LTD (REGISTERED NUMBER: 10021904)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 118 188

CURRENT ASSETS
Debtors 5 15,255 5,930
Cash at bank 43,903 57,110
59,158 63,040
CREDITORS
Amounts falling due within one year 6 28,448 26,817
NET CURRENT ASSETS 30,710 36,223
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,828

36,411

CREDITORS
Amounts falling due after more than one
year

7

(15,000

)

(21,000

)

PROVISIONS FOR LIABILITIES (22 ) (36 )
NET ASSETS 15,806 15,375

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 15,805 15,374
SHAREHOLDERS' FUNDS 15,806 15,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BON ASSOCIATES LTD (REGISTERED NUMBER: 10021904)

BALANCE SHEET - continued
28 FEBRUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 1 October 2023 and were signed by:





Mr Y Van Velzen - Director


BON ASSOCIATES LTD (REGISTERED NUMBER: 10021904)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. Statutory information

Bon Associates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10021904

Registered office: 47 Rose Terrace
Horsforth
Leeds
LS18 4QA

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 50% on reducing balance and 33% on reducing balance

Government grants
Revenue based government grants are recognised in profit and loss on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

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
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.

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.

BON ASSOCIATES LTD (REGISTERED NUMBER: 10021904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

4. Property, plant and equipment
Plant and
machinery
etc
£   
Cost
At 1 March 2022
and 28 February 2023 671
Depreciation
At 1 March 2022 483
Charge for year 70
At 28 February 2023 553
Net book value
At 28 February 2023 118
At 28 February 2022 188

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 13,350 4,140
Other debtors 1,905 1,790
15,255 5,930

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 6,000 6,000
Taxation and social security 20,055 16,618
Other creditors 2,393 4,199
28,448 26,817

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 15,000 21,000

BON ASSOCIATES LTD (REGISTERED NUMBER: 10021904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Mr Y Van Velzen
Balance outstanding at start of year - -
Amounts advanced 63,996 57,496
Amounts repaid (63,996 ) (57,496 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest was charged on the above loan at the official rate set by HM Revenue & Customs.

9. Related party disclosures

During the year, the company paid £185 (2022: £212) to Mr Y Van Velzen, a director, as rent for the use of his home office.