Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Brian McLeod 13/04/2022 Irene McLeod 13/04/2022 28 January 2025 The principal activity of the company is that of support activities for petroleum natural gas extraction. SC729446 2024-04-30 SC729446 bus:Director1 2024-04-30 SC729446 bus:Director2 2024-04-30 SC729446 2023-04-30 SC729446 core:CurrentFinancialInstruments 2024-04-30 SC729446 core:CurrentFinancialInstruments 2023-04-30 SC729446 core:ShareCapital 2024-04-30 SC729446 core:ShareCapital 2023-04-30 SC729446 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC729446 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC729446 core:OfficeEquipment 2023-04-30 SC729446 core:OfficeEquipment 2024-04-30 SC729446 bus:OrdinaryShareClass1 2024-04-30 SC729446 2023-05-01 2024-04-30 SC729446 bus:FilletedAccounts 2023-05-01 2024-04-30 SC729446 bus:SmallEntities 2023-05-01 2024-04-30 SC729446 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC729446 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC729446 bus:Director1 2023-05-01 2024-04-30 SC729446 bus:Director2 2023-05-01 2024-04-30 SC729446 core:OfficeEquipment core:TopRangeValue 2023-05-01 2024-04-30 SC729446 2022-05-01 2023-04-30 SC729446 core:OfficeEquipment 2023-05-01 2024-04-30 SC729446 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC729446 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC729446 (Scotland)

BDON LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

BDON LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

BDON LIMITED

BALANCE SHEET

As at 30 April 2024
BDON LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,108 308
2,108 308
Current assets
Debtors 4 83,497 118,508
Cash at bank and in hand 109,232 106,817
192,729 225,325
Creditors: amounts falling due within one year 5 ( 144,799) ( 151,487)
Net current assets 47,930 73,838
Total assets less current liabilities 50,038 74,146
Net assets 50,038 74,146
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 50,036 74,144
Total shareholders' funds 50,038 74,146

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of BDON Limited (registered number: SC729446) were approved and authorised for issue by the Board of Directors on 28 January 2025. They were signed on its behalf by:

Brian McLeod
Director
BDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
BDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

BDON Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the company's registered office is 11 Broaddykes View Kingswells, Aberdeen, AB15 8UG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least twelve months from the date of signing the financial statements. Thus the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 May 2023 323 323
Additions 2,140 2,140
At 30 April 2024 2,463 2,463
Accumulated depreciation
At 01 May 2023 15 15
Charge for the financial year 340 340
At 30 April 2024 355 355
Net book value
At 30 April 2024 2,108 2,108
At 30 April 2023 308 308

4. Debtors

2024 2023
£ £
Trade debtors 66,154 91,506
Other debtors 17,343 27,002
83,497 118,508

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 720
Corporation tax 17,706 33,366
Other taxation and social security 17,417 26,018
Other creditors 109,676 91,383
144,799 151,487

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

7. Related party transactions

Transactions with the entity's directors

At 30 April 2024 the company was due the directors' £108,231 (2023 £90,197). These loans are interest free with no set repayment terms.