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REGISTERED NUMBER: 00883368 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

BONUT ENGINEERING LIMITED

BONUT ENGINEERING LIMITED (REGISTERED NUMBER: 00883368)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


BONUT ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr B T Travis
Mrs A Ditchfield





SECRETARY: Mrs A Ditchfield





REGISTERED OFFICE: Unit 12, Latham Close
Bredbury Park Industrial Estate
Bredbury
Stockport
Cheshire
SK6 2SD





REGISTERED NUMBER: 00883368 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

BONUT ENGINEERING LIMITED (REGISTERED NUMBER: 00883368)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,428 1,673
Tangible assets 5 260,263 249,315
261,691 250,988

CURRENT ASSETS
Stocks 238,720 220,056
Debtors 6 225,505 238,212
Cash at bank and in hand 316,318 280,523
780,543 738,791
CREDITORS
Amounts falling due within one year 7 243,382 221,966
NET CURRENT ASSETS 537,161 516,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

798,852

767,813

CREDITORS
Amounts falling due after more than one
year

8

(542,507

)

(566,486

)

PROVISIONS FOR LIABILITIES 10 (64,659 ) (61,832 )
NET ASSETS 191,686 139,495

CAPITAL AND RESERVES
Called up share capital 11 2,452 2,452
Share premium 590 590
Retained earnings 188,644 136,453
SHAREHOLDERS' FUNDS 191,686 139,495

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

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

BONUT ENGINEERING LIMITED (REGISTERED NUMBER: 00883368)

BALANCE SHEET - continued
31ST MARCH 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 8th August 2024 and were signed on its behalf by:





Mr B T Travis - Director


BONUT ENGINEERING LIMITED (REGISTERED NUMBER: 00883368)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Bonut Engineering 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.

Going concern
The directors have reviewed the company's financial position to ensure that it has adequate resources to continue in operational existence for the foreseeable future. As an essential part of this review, the directors have considered the trading results of the company subsequent to the year end by preparing formal projections covering in excess of twelve months after the date of approval of these financial statements.

Taking the projected profitability into account, along with the continued support of the company's parent undertaking and also the ultimate controlling party, the directors consider it to be appropriate to adopt the going concern basis in preparing the financial statements.

The accounts do not therefore reflect any adjustments that would be required should the existing financing arrangements be withdrawn, not be sufficient at current levels or at future trading levels being significantly different to that projected by the directors.

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

Revenue from the sale of goods is recognised when the goods have been delivered and legal title has passed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on reducing balance, 15% on reducing balance and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BONUT ENGINEERING LIMITED (REGISTERED NUMBER: 00883368)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

BONUT ENGINEERING LIMITED (REGISTERED NUMBER: 00883368)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 75,714
AMORTISATION
At 1st April 2023 74,041
Charge for year 245
At 31st March 2024 74,286
NET BOOK VALUE
At 31st March 2024 1,428
At 31st March 2023 1,673

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 424,995
Additions 38,230
At 31st March 2024 463,225
DEPRECIATION
At 1st April 2023 175,680
Charge for year 27,282
At 31st March 2024 202,962
NET BOOK VALUE
At 31st March 2024 260,263
At 31st March 2023 249,315

BONUT ENGINEERING LIMITED (REGISTERED NUMBER: 00883368)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 46,220
DEPRECIATION
At 1st April 2023 4,237
Charge for year 4,198
At 31st March 2024 8,435
NET BOOK VALUE
At 31st March 2024 37,785
At 31st March 2023 41,983

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 222,288 229,723
Other debtors 3,217 8,489
225,505 238,212

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 14,569 13,709
Trade creditors 93,986 112,122
Taxation and social security 105,903 68,184
Other creditors 28,924 27,951
243,382 221,966

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 2,515 17,084
Amounts owed to group undertakings 539,992 549,402
542,507 566,486

BONUT ENGINEERING LIMITED (REGISTERED NUMBER: 00883368)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 17,084 30,793

The hire purchase liabilities are secured against the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 64,659 61,832

Deferred
tax
£   
Balance at 1st April 2023 61,832
Provided during year 2,827
Balance at 31st March 2024 64,659

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,452 Ordinary £1 2,452 2,452

12. RELATED PARTY DISCLOSURES

During the year, the company was charged rent of £18,000 (2023: £18,000) by Arbour Holdings Limited, the parent company. At the year end, the company owed Arbour Holdings Limited £539,992 (2023: £549,402).

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Arbour Holdings Limited.