Company Registration No. SC305945 (Scotland)
BINAP LTD
Unaudited accounts
for the year ended 31 December 2023
BINAP LTD
Unaudited accounts
Contents
BINAP LTD
Company Information
for the year ended 31 December 2023
Directors
John Linklater
Scott Caseby
Company Number
SC305945 (Scotland)
Registered Office
Suite 2b, 2nd Floor Stuart House
Eskmills
Musselburgh
EH21 7PQ
Scotland
Accountants
DC Accountancy Services (Edinburgh) Ltd
105 Forrest Place
Armadale
West Lothian
EH48 2GZ
BINAP LTD
Statement of financial position
as at 31 December 2023
Tangible assets
24,525
27,520
Cash at bank and in hand
7,229
3,319
Creditors: amounts falling due within one year
(134,847)
(136,616)
Net current assets
26,487
17,593
Total assets less current liabilities
51,012
45,113
Creditors: amounts falling due after more than one year
(31,758)
(36,758)
Provisions for liabilities
Deferred tax
(6,131)
(5,228)
Called up share capital
100
100
Profit and loss account
13,023
3,027
Shareholders' funds
13,123
3,127
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 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 29 October 2024 and were signed on its behalf by
John Linklater
Director
Company Registration No. SC305945
BINAP LTD
Notes to the Accounts
for the year ended 31 December 2023
BINAP LTD is a private company, limited by shares, registered in Scotland, registration number SC305945. The registered office is Suite 2b, 2nd Floor Stuart House, Eskmills, Musselburgh, EH21 7PQ, Scotland.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
20% Straight Line Basis
Motor vehicles
25% Straight Line Basis
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
BINAP LTD
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2023
60,845
56,459
117,304
Additions
2,086
7,750
9,836
Disposals
-
(22,825)
(22,825)
At 31 December 2023
62,931
41,384
104,315
At 1 January 2023
54,676
35,108
89,784
Charge for the year
2,485
10,346
12,831
On disposals
-
(22,825)
(22,825)
At 31 December 2023
57,161
22,629
79,790
At 31 December 2023
5,770
18,755
24,525
At 31 December 2022
6,169
21,351
27,520
Amounts falling due within one year
Trade debtors
120,836
125,732
Other debtors
31,269
23,158
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,000
5,000
Obligations under finance leases and hire purchase contracts
-
357
Taxes and social security
57,682
47,162
Other creditors
2,291
7,530
Loans from directors
10,396
5,425
7
Creditors: amounts falling due after more than one year
2023
2022
BINAP LTD
Notes to the Accounts
for the year ended 31 December 2023
8
Operating lease commitments
2023
2022
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
7,800
7,800
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
23,158
31,269
23,158
31,269
17,733
31,269
28,129
20,873
10
Average number of employees
During the year the average number of employees was 18 (2022: 19).