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Registered number: 07079672
Buon Apps Ltd.
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07079672
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 191,211 229,052
191,211 229,052
CURRENT ASSETS
Stocks 6 47,191 44,656
Debtors 7 336,091 361,340
Cash at bank and in hand 164,064 165,081
547,346 571,077
Creditors: Amounts Falling Due Within One Year 8 (219,784 ) (219,954 )
NET CURRENT ASSETS (LIABILITIES) 327,562 351,123
TOTAL ASSETS LESS CURRENT LIABILITIES 518,773 580,175
Creditors: Amounts Falling Due After More Than One Year 9 (20,899 ) (31,666 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (14,759 ) (21,688 )
NET ASSETS 483,115 526,821
CAPITAL AND RESERVES
Called up share capital 11 11 11
Profit and Loss Account 483,104 526,810
SHAREHOLDERS' FUNDS 483,115 526,821
Page 1
Page 2
For the year ending 31 December 2023 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alessandro Proietti Tocca
Director
16/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Buon Apps Ltd. Registered number 07079672 is a limited by shares company incorporated in England & Wales. The Registered Office is 50 Mill Way, Otley, LS21 1FE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It has been amortised to profit and loss account over its estimated economic life.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line
Plant & Machinery 20% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 20% Reducing balance
Computer Equipment 25% Reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6. Taxation
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 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 directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 45 (2022: 43)
45 43
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 18,000
As at 31 December 2023 18,000
Amortisation
As at 1 January 2023 18,000
As at 31 December 2023 18,000
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 31,198 139,451 9,879 309,732
Additions - 1,176 - 5,077
Disposals - - - (2,185 )
As at 31 December 2023 31,198 140,627 9,879 312,624
Depreciation
As at 1 January 2023 3,114 75,919 8,560 180,186
Provided during the period 3,120 12,844 330 25,938
As at 31 December 2023 6,234 88,763 8,890 206,124
Net Book Value
As at 31 December 2023 24,964 51,864 989 106,500
As at 1 January 2023 28,084 63,532 1,319 129,546
Computer Equipment Total
£ £
Cost
As at 1 January 2023 11,341 501,601
Additions 1,808 8,061
Disposals - (2,185 )
As at 31 December 2023 13,149 507,477
Depreciation
As at 1 January 2023 4,770 272,549
Provided during the period 1,485 43,717
As at 31 December 2023 6,255 316,266
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 December 2023 6,894 191,211
As at 1 January 2023 6,571 229,052
6. Stocks
2023 2022
£ £
Stock 47,191 44,656
7. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 4,528 6,559
Other debtors 47,730 354,781
52,258 361,340
Due after more than one year
Amounts owed by other participating interests 283,833 -
336,091 361,340
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 106,102 100,493
Bank loans and overdrafts 10,800 10,000
Corporation tax 41,763 53,872
Other taxes and social security 53,992 51,598
Other creditors 52 2,491
Accruals and deferred income 7,075 1,500
219,784 219,954
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 20,899 31,666
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 14,759 21,688
Page 5
Page 6
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 11 11
2023 2022
Allotted, called up and fully paid £ £
10 Ordinary A shares of £ 1.000 each 10 10
1 Ordinary B shares of £ 1.000 each 1 1
11 11
12. Directors Advances, Credits and Guarantees
At the balance sheet date the directors had a balance owing to the company of £29,088 (2020:£29,800).
13. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 156,942 135,320
14. Ultimate Controlling Party
The company is under the control of the directors who own and control the entire issued share capital of the company.
Page 6