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REGISTERED NUMBER: 07498521 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

BISON PRODUCTS LIMITED

BISON PRODUCTS LIMITED (REGISTERED NUMBER: 07498521)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BISON PRODUCTS LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: J F Haworth
R M Hart





REGISTERED OFFICE: Unit 87 Bison Place
Moss Side
Leyland
Lancashire
PR26 7QR





REGISTERED NUMBER: 07498521 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

BISON PRODUCTS LIMITED (REGISTERED NUMBER: 07498521)

STATEMENT OF FINANCIAL POSITION
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,663 4,439
Tangible assets 5 239 551
5,902 4,990

CURRENT ASSETS
Stocks 84,654 78,596
Debtors 6 17,830 15,078
Cash at bank and in hand 44,350 45,722
146,834 139,396
CREDITORS
Amounts falling due within one year 7 192,068 209,141
NET CURRENT LIABILITIES (45,234 ) (69,745 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(39,332

)

(64,755

)

CREDITORS
Amounts falling due after more than one
year

8

14,167

24,167
NET LIABILITIES (53,499 ) (88,922 )

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (53,519 ) (88,942 )
SHAREHOLDERS' FUNDS (53,499 ) (88,922 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

BISON PRODUCTS LIMITED (REGISTERED NUMBER: 07498521)

STATEMENT OF FINANCIAL POSITION - continued
31 January 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





J F Haworth - Director


BISON PRODUCTS LIMITED (REGISTERED NUMBER: 07498521)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Bison Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

These financial statements have been prepared on the basis that the company continues to be a going concern.

The company is dependent upon the continued financial support of its directors' and taking into account recent management accounts and projections, the directors anticipate continuing profitability and therefore the accounts have been produced on a going concern basis.

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

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.

Development costs are being amortised evenly over their estimated useful life of five 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.
Plant and machinery etc - 33% on cost

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

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

BISON PRODUCTS LIMITED (REGISTERED NUMBER: 07498521)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 February 2023 10,808
Additions 2,220
At 31 January 2024 13,028
AMORTISATION
At 1 February 2023 6,369
Amortisation for year 996
At 31 January 2024 7,365
NET BOOK VALUE
At 31 January 2024 5,663
At 31 January 2023 4,439

BISON PRODUCTS LIMITED (REGISTERED NUMBER: 07498521)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 6,933
DEPRECIATION
At 1 February 2023 6,382
Charge for year 312
At 31 January 2024 6,694
NET BOOK VALUE
At 31 January 2024 239
At 31 January 2023 551

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,830 15,078

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 11,156
Trade creditors 11,588 7,781
Social security and other taxes 2,499 4,665
Other creditors 166,481 184,039
Accrued expenses 1,500 1,500
192,068 209,141

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 14,167 24,167

9. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments amounting to £10,068 (2023: £9,599).

10. RELATED PARTY DISCLOSURES

Included in Other Creditors are amounts due to related undertakings of £124,953 (2023: £131,351).