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REGISTERED NUMBER: SC442741















BONNAR ACCIDENT LAW LTD.

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






BONNAR ACCIDENT LAW LTD. (REGISTERED NUMBER: SC442741)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


BONNAR ACCIDENT LAW LTD. (REGISTERED NUMBER: SC442741)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 852,500 937,750
Tangible assets 5 764 8,455
853,264 946,205

CURRENT ASSETS
Debtors 6 165,060 190,057
Cash at bank and in hand 200,998 132,416
366,058 322,473
CREDITORS
Amounts falling due within one year 7 429,514 400,906
NET CURRENT LIABILITIES (63,456 ) (78,433 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

789,808

867,772

CREDITORS
Amounts falling due after more than one
year

8

428,146

572,500
NET ASSETS 361,662 295,272

CAPITAL AND RESERVES
Called up share capital 102 102
Profit and loss account 361,560 295,170
SHAREHOLDERS' FUNDS 361,662 295,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

BONNAR ACCIDENT LAW LTD. (REGISTERED NUMBER: SC442741)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2023 and were signed by:





V McManus - Director


BONNAR ACCIDENT LAW LTD. (REGISTERED NUMBER: SC442741)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Bonnar Accident Law Ltd. is a private company, limited by shares, registered in Scotland. The registered office is 83 Graham Street, Airdrie, Lanarkshire, ML6 6DE.

The financial statements are presented in Sterling (£).

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. There were no material departures from that standard.

Going concern
The financial statements have been prepared on a going concern basis. The validity of this is dependent on the continued support of the director, who considers that it is appropriate to prepare the financial statements on a going concern basis.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The director considers there are no such significant judgements.

Turnover
Turnover represents amounts charged to clients for professional services, excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance under each contract.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Goodwill, being the difference between the amount paid for the business and the aggregate value of its separable net assets, is being written off over the term of its expected useful economic life of 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - written off over the term of the lease
Plant and machinery etc - 33.3% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

BONNAR ACCIDENT LAW LTD. (REGISTERED NUMBER: SC442741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Government grants
Government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loan from banks and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

BONNAR ACCIDENT LAW LTD. (REGISTERED NUMBER: SC442741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 1,705,000
AMORTISATION
At 1 April 2022 767,250
Charge for year 85,250
At 31 March 2023 852,500
NET BOOK VALUE
At 31 March 2023 852,500
At 31 March 2022 937,750

Goodwill arises on the acquisition of a business in 2013 and is being amortised evenly over its estimated useful life of 20 years.

BONNAR ACCIDENT LAW LTD. (REGISTERED NUMBER: SC442741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 95,942 26,188 122,130
Disposals - (12,044 ) (12,044 )
At 31 March 2023 95,942 14,144 110,086
DEPRECIATION
At 1 April 2022 95,942 17,733 113,675
Charge for year - 3,258 3,258
Eliminated on disposal - (7,611 ) (7,611 )
At 31 March 2023 95,942 13,380 109,322
NET BOOK VALUE
At 31 March 2023 - 764 764
At 31 March 2022 - 8,455 8,455

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 165,060 190,057

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,932 10,000
Taxation and social security 77,738 48,778
Other creditors 341,844 342,128
429,514 400,906

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,295 32,500
Other creditors 404,851 540,000
428,146 572,500

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 833

BONNAR ACCIDENT LAW LTD. (REGISTERED NUMBER: SC442741)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the director £503,950 (2022: £616,099). The balance is interest free, unsecured with no fixed repayment terms. The director has confirmed they will not seek repayment of £404,851 of the balance within 12 months of the balance sheet date.

During the year, the total rent payable to a company controlled by the director was £20,000 (2022: £nil).