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REGISTERED NUMBER: SC192592 (Scotland)















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: Mr I A Akhundov
Mr R P Moult



REGISTERED OFFICE: Suite 2, Ground Floor
Orchard Brae House
30 Queensferry Road
Edinburgh
EH4 2HS



REGISTERED NUMBER: SC192592 (Scotland)



SENIOR STATUTORY AUDITOR: Ronnie Birnie



AUDITORS: SBP
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 17,585 22,720
Tangible assets 5 52,182 72,815
69,767 95,535

CURRENT ASSETS
Stocks 6 9,185 19,275
Debtors 7 706,676 515,462
Cash at bank and in hand 1,784,505 1,736,606
2,500,366 2,271,343
CREDITORS
Amounts falling due within one year 8 835,830 745,080
NET CURRENT ASSETS 1,664,536 1,526,263
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,734,303

1,621,798

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 1,734,301 1,621,796
SHAREHOLDERS' FUNDS 1,734,303 1,621,798

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr I A Akhundov - Director


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 private company, limited by shares , registered in Scotland. 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.

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.

Website development & licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 25,672
AMORTISATION
At 1 January 2023 2,952
Charge for year 5,135
At 31 December 2023 8,087
NET BOOK VALUE
At 31 December 2023 17,585
At 31 December 2022 22,720

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 5,204 6,133 144,771 34,172 190,280
Additions - 1,642 - 2,481 4,123
Disposals - (1,612 ) (56,075 ) (1,534 ) (59,221 )
At 31 December 2023 5,204 6,163 88,696 35,119 135,182
DEPRECIATION
At 1 January 2023 5,204 5,925 85,981 20,355 117,465
Charge for year - 217 16,639 7,899 24,755
Eliminated on disposal - (1,612 ) (56,074 ) (1,534 ) (59,220 )
At 31 December 2023 5,204 4,530 46,546 26,720 83,000
NET BOOK VALUE
At 31 December 2023 - 1,633 42,150 8,399 52,182
At 31 December 2022 - 208 58,790 13,817 72,815

6. STOCKS
31.12.23 31.12.22
£    £   
Stock & Goods in Transit 9,185 19,275

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 404,389 329,291
Other debtors 211,926 38,584
Tax advance payments 3,463 -
VAT 73,348 122,028
Accrued income - 11,861
Prepayments 13,550 13,698
706,676 515,462

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 293,432 528,585
Tax 29,861 134,859
Social security and other taxes 21,729 9,011
Other creditors 468,638 -
Accrued expenses 22,170 72,625
835,830 745,080

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: £    £   
2 Ordinary £1 2 2

10. RESERVES
Retained
earnings
£   

At 1 January 2023 1,621,796
Profit for the year 112,505
At 31 December 2023 1,734,301

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ronnie Birnie (Senior Statutory Auditor)
for and on behalf of SBP

12. RELATED PARTY DISCLOSURES

There were no transactions with related parties during the financial year.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr I A Akhundov.

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.