REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2024 |
for |
Bonaprene Products Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2024 |
for |
Bonaprene Products Limited |
Bonaprene Products Limited (Registered number: 01461678) |
Contents of the Financial Statements |
for the Year Ended 30 November 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Bonaprene Products Limited |
Company Information |
for the Year Ended 30 November 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
114-120 Northgate Street |
Chester |
CH1 2HT |
Bonaprene Products Limited (Registered number: 01461678) |
Statement of Financial Position |
30 November 2024 |
30/11/24 | 30/11/23 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 7 |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Retained earnings |
Shareholders' funds |
Bonaprene Products Limited (Registered number: 01461678) |
Statement of Financial Position - continued |
30 November 2024 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bonaprene Products Limited (Registered number: 01461678) |
Notes to the Financial Statements |
for the Year Ended 30 November 2024 |
1. | Statutory information |
Bonaprene Products Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
Tangible fixed assets |
Land & buildings freehold | - |
Plant and machinery | - |
Fixtures, fittings & equipment | - |
Motor vehicles | - |
No depreciation is provided on freehold land. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
Bonaprene Products Limited (Registered number: 01461678) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Operating leases |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
Bonaprene Products Limited (Registered number: 01461678) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
4. | Tangible fixed assets |
Land & | Fixtures, |
buildings | Plant and | fittings | Motor |
freehold | machinery | & equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 December 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 November 2024 |
Depreciation |
At 1 December 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2024 |
Net book value |
At 30 November 2024 |
At 30 November 2023 |
5. | Debtors: amounts falling due within one year |
30/11/24 | 30/11/23 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
30/11/24 | 30/11/23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Other creditors includes 90,000 'A' Preference shares of £1 each. |
7. | Provisions for liabilities |
30/11/24 | 30/11/23 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Bonaprene Products Limited (Registered number: 01461678) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
7. | Provisions for liabilities - continued |
Deferred |
tax |
£ |
Balance at 1 December 2023 |
Charge to Statement of Income and Retained Earnings during year |
Balance at 30 November 2024 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30/11/24 | 30/11/23 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
90,000 "A" Preference shares of £1 each have been classified as financial liabilities and are included in the accounts under creditors: amounts falling due within one year. |
9. | Related party disclosures |
Certain directors have made loans to the company. The balance on these loans at 30 November 2024 was £116,775 (2023: £12,407). The loans are interest free, unsecured and repayable on demand. |
10. | Lease commitments |
At 30 November 2024 the company had commitments under non-cancellable operating leases over the remaining life of these leases of £324,242 (2023: £397,500). The amount payable within one year in respect of these leases was £94,900 (2023: £90,000). |