1 January 2023 false No description of principal activity Taxfiler 2024.6 SC305945business:PrivateLimitedCompanyLtd2023-01-012023-12-31 SC3059452022-12-31 SC3059452023-01-012023-12-31 SC305945business:AuditExemptWithAccountantsReport2023-01-012023-12-31 SC305945business:FilletedAccounts2023-01-012023-12-31 SC3059452023-12-31 SC305945business:Director12023-01-012023-12-31 SC305945business:Director22023-01-012023-12-31 SC305945business:CompanySecretary12023-01-012023-12-31 SC305945business:RegisteredOffice2023-01-012023-12-31 SC3059452022-12-31 SC305945core:WithinOneYear2023-12-31 SC305945core:WithinOneYear2022-12-31 SC305945core:AfterOneYear2023-12-31 SC305945core:AfterOneYear2022-12-31 SC305945core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 SC305945core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 SC305945core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 SC305945core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 SC305945core:PreviouslyStatedAmount2023-12-31 SC305945core:PreviouslyStatedAmount2022-12-31 SC305945business:SmallEntities2023-01-012023-12-31 SC305945countries:Scotland2023-01-012023-12-31 SC305945core:PlantMachinery2023-01-012023-12-31 SC305945core:MotorVehicles2023-01-012023-12-31 SC305945core:PlantMachinery2022-12-31 SC305945core:MotorVehicles2022-12-31 SC305945core:PlantMachinery2023-12-31 SC305945core:MotorVehicles2023-12-31 SC305945core:BetweenOneFiveYears2023-12-31 SC305945core:BetweenOneFiveYears2022-12-31 SC305945business:Director122022-12-31 SC305945business:Director122023-01-012023-12-31 SC305945business:Director122023-12-31 SC305945business:Director212022-12-31 SC305945business:Director212023-01-012023-12-31 SC305945business:Director212023-12-31 SC3059452022-01-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. SC305945 (Scotland)
BINAP LTD Unaudited accounts for the year ended 31 December 2023
BINAP LTD Unaudited accounts Contents
Page
- 2 -
BINAP LTD Company Information for the year ended 31 December 2023
Directors
John Linklater Scott Caseby
Secretary
John Linklater
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
- 3 -
BINAP LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
24,525 
27,520 
Current assets
Inventories
2,000 
2,000 
Debtors
152,105 
148,890 
Cash at bank and in hand
7,229 
3,319 
161,334 
154,209 
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)
Net assets
13,123 
3,127 
Capital and reserves
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
- 4 -
BINAP LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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 taxation
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.
Leased assets
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.
- 5 -
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 
Depreciation
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 
Net book value
At 31 December 2023
5,770 
18,755 
24,525 
At 31 December 2022
6,169 
21,351 
27,520 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
120,836 
125,732 
Other debtors
31,269 
23,158 
152,105 
148,890 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,000 
5,000 
VAT
56,563 
67,989 
Obligations under finance leases and hire purchase contracts
- 
357 
Trade creditors
786 
1,126 
Taxes and social security
57,682 
47,162 
Other creditors
2,291 
7,530 
Loans from directors
10,396 
5,425 
Accruals
2,129 
2,027 
134,847 
136,616 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
31,758 
36,758 
- 6 -
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 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
John Linklater
(5,425)
- 
4,971 
(10,396)
Scott Caseby
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).
- 7 -