REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Bon-Accord Engineering Supplies |
(Caspian) Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Bon-Accord Engineering Supplies |
(Caspian) Limited |
Bon-Accord Engineering Supplies |
(Caspian) Limited (Registered number: SC192592) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Bon-Accord Engineering Supplies |
(Caspian) Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Accountants and |
Registered Auditors |
42 Queens Road |
Aberdeen |
AB15 4YE |
Bon-Accord Engineering Supplies |
(Caspian) Limited (Registered number: SC192592) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bon-Accord Engineering Supplies |
(Caspian) Limited (Registered number: SC192592) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Bon-Accord Engineering Supplies (Caspian) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in UK £ sterling. |
Turnover |
Turnover represents amounts receivable for goods and services provided in the normal course of business, net of discounts and relevant VAT or equivalent. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates. |
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 |
Improvements to property | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Bon-Accord Engineering Supplies |
(Caspian) Limited (Registered number: SC192592) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
The main functional currency of the company is the Euro (€) but transactions are also undertaken in the AZN Manat, US dollars and UK sterling. The company is registered in Scotland and therefore the directors have opted to present the financial information in sterling (£). |
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Fixed Assets are valued at the historical rate of exchange. Transactions in currencies, other than the functional currency (€), which take place during the course of the financial year are translated at the rate of exchange ruling at the date of transaction. Any exchange differences arising during the financial year are reported through the Profit & Loss Account and are taken into account in arriving at the operating result.balance sheet |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Intangible assets comprises the company's website development cost and software operating licences. |
Bon-Accord Engineering Supplies |
(Caspian) Limited (Registered number: SC192592) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | STOCKS |
31.12.23 | 31.12.22 |
£ | £ |
Stock & Goods in Transit |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
Tax advance payments | 3,463 | - |
VAT |
Accrued income |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
Bon-Accord Engineering Supplies |
(Caspian) Limited (Registered number: SC192592) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 |
Profit for the year |
At 31 December 2023 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | RELATED PARTY DISCLOSURES |
There were no transactions with related parties during the financial year. |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
14. | PROVISION FOR DEFERRED TAX |
Following due consideration, it is considered that no provision for deferred tax is required. A deferred tax asset balance of £4,530 has been calculated as at the year end but as it is not probable that this asset will be realised, it has not been recognised in the financial statements. |