1 January 2022 false No description of principal activity Taxfiler 2023.9.1 SC388827business:PrivateLimitedCompanyLtd2022-01-012022-12-31 SC3888272021-12-31 SC3888272022-01-012022-12-31 SC388827business:AuditExempt-NoAccountantsReport2022-01-012022-12-31 SC388827business:FilletedAccounts2022-01-012022-12-31 SC3888272022-12-31 SC3888272021-12-31 SC388827core:WithinOneYear2022-12-31 SC388827core:WithinOneYear2021-12-31 SC388827core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 SC388827core:ShareCapitalcore:PreviouslyStatedAmount2021-12-31 SC388827core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 SC388827core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2021-12-31 SC388827core:PreviouslyStatedAmount2022-12-31 SC388827core:PreviouslyStatedAmount2021-12-31 SC388827business:SmallEntities2022-01-012022-12-31 SC388827business:Director22022-01-012022-12-31 SC388827countries:Scotland2022-01-012022-12-31 SC388827business:RegisteredOffice2022-01-012022-12-31 SC388827core:LandBuildings2022-01-012022-12-31 SC388827core:PlantMachinery2022-01-012022-12-31 SC388827core:MotorVehicles2022-01-012022-12-31 SC388827core:FurnitureFittings2022-01-012022-12-31 SC388827core:LandBuildings2021-12-31 SC388827core:PlantMachinery2021-12-31 SC388827core:MotorVehicles2021-12-31 SC388827core:FurnitureFittings2021-12-31 SC388827core:LandBuildings2022-12-31 SC388827core:PlantMachinery2022-12-31 SC388827core:MotorVehicles2022-12-31 SC388827core:FurnitureFittings2022-12-31 SC3888272021-01-012021-12-31 iso4217:GBP xbrli:pure
Company Registration No. SC388827 (Scotland)
The Bungo Ltd Unaudited accounts for the year ended 31 December 2022
The Bungo Ltd Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
50,345 
57,481 
Current assets
Inventories
8,704 
11,395 
Debtors
9,761 
- 
Cash at bank and in hand
35,494 
54,764 
53,959 
66,159 
Creditors: amounts falling due within one year
(103,833)
(99,118)
Net current liabilities
(49,874)
(32,959)
Net assets
471 
24,522 
Capital and reserves
Called up share capital
4 
4 
Profit and loss account
467 
24,518 
Shareholders' funds
471 
24,522 
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by
Catherine Hardy Director Company Registration No. SC388827
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The Bungo Ltd Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
The Bungo Ltd is a private company, limited by shares, registered in Scotland, registration number SC388827. The registered office is 44 BELMONT STREET, GLASGOW, G12 8EY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Presentation currency
The accounts are presented in £ sterling.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over the term of the lease
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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The Bungo Ltd Notes to the Accounts for the year ended 31 December 2022
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2022
138,837 
85,435 
5,750 
71,399 
301,421 
At 31 December 2022
138,837 
85,435 
5,750 
71,399 
301,421 
Depreciation
At 1 January 2022
90,613 
80,669 
5,175 
67,483 
243,940 
Charge for the year
4,822 
1,191 
144 
979 
7,136 
At 31 December 2022
95,435 
81,860 
5,319 
68,462 
251,076 
Net book value
At 31 December 2022
43,402 
3,575 
431 
2,937 
50,345 
At 31 December 2021
48,224 
4,766 
575 
3,916 
57,481 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
715 
- 
Other debtors
9,046 
- 
9,761 
- 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
- 
5,000 
Trade creditors
47,900 
42,972 
Taxes and social security
33,400 
45,405 
Other creditors
20,000 
- 
Loans from directors
- 
3,218 
Accruals
2,533 
2,523 
103,833 
99,118 
7
Transactions with related parties
Included within creditors is a loan of £20,000 (2021 £0) due to The Left Bank (Scotland) Limited. The directors of this company are also directors of The Left Bank (Scotland) Limited. The loan is interest-free and repayable on demand. Included within debtors is an amount of £9,046 due from the directors. The loan is interest-free and repayable on demand.
8
Average number of employees
During the year the average number of employees was 17 (2021: 18).
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