Registration number:
Bollardscan Limited
for the Year Ended 31 December 2024
Bollardscan Limited
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
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iXBRL Detailed Profit and Loss Account |
Bollardscan Limited
Company Information
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Directors |
Willem Johannes van Hoorn Gerardus Marcus Lodewijk Cleophas |
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Registered office |
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Accountants |
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Bollardscan Limited
Directors' Report for the Year Ended 31 December 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is the provision of technical testing services.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bollardscan Limited
for the Year Ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bollardscan Limited for the year ended 31 December 2024 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Bollardscan Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bollardscan Limited and state those matters that we have agreed to state to the Board of Directors of Bollardscan Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bollardscan Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Bollardscan Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bollardscan Limited. You consider that Bollardscan Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Bollardscan Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Yarm
Teeside
North Yorkshire
TS15 9XE
Bollardscan Limited
Profit and Loss Account for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
292,322 |
258,496 |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
( |
( |
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(10,643) |
(8,395) |
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Profit before tax |
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Tax on profit |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Bollardscan Limited
(Registration number: 10092019)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10 |
10 |
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Retained earnings |
577,891 |
365,954 |
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Shareholders' funds |
577,901 |
365,964 |
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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Bollardscan Limited
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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Profit for the year |
- |
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At 31 December 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2023 |
- |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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New share capital subscribed |
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- |
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At 31 December 2023 |
10 |
365,954 |
365,964 |
Bollardscan Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
The principal place of business is:
Unit 1 Washington Business Centre
2 Turbine Way
Sunderland
Tyne & Wear
SR5 3NZ
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Bollardscan Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of fixed assets over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Office equipment |
33% reducing balance |
Development costs
The company is developing the application of non-destructive testing methods to port bollards and the development costs incurred are capitalised and will be amortised over the expected useful life of the developed technology, to commence when such technology is first put to commercial use.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business, recognised at the transaction price.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers, recognised at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Bollardscan Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Profit before tax |
Arrived at after charging/(crediting)
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2024 |
2023 |
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Depreciation expense |
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Amortisation expense |
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Bollardscan Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Intangible assets |
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Development costs |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Amortisation |
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At 1 January 2024 |
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Amortisation charge |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Tangible assets |
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Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Stocks |
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2024 |
2023 |
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Other inventories |
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Bollardscan Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Debtors |
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Current |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Bollardscan Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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8 |
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8 |
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2 |
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2 |
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Bollardscan Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Dividends |
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2024 |
2023 |
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£ |
£ |
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Recommended final dividends paid and not recognised in the accounts
The directors are recommending the following final dividends:
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£- per each |
These dividends have not been accrued in the balance sheet.
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Related party transactions |
Loans to directors are repayable on demand are chargeable to interest of between 2% and 5% per year calculated on a daily basis.
Bollardscan Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Directors' remuneration
The directors' remuneration for the year was as follows:
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2024 |
2023 |
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Remuneration |
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Loans from related parties
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2024 |
Key management |
Total |
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At start of period |
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At end of period |
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2023 |
Key management |
Total |
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At start of period |
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At end of period |
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Terms of loans from related parties
Bollardscan Limited
iXBRL Detailed Profit and Loss Account for the Year Ended 31 December 2024
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2024 |
2023 |
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Turnover/revenue |
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Cost of sales |
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Opening raw materials |
- |
( |
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Purchase of raw materials and consumables |
( |
( |
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Closing raw materials |
- |
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Freight and haulage costs |
( |
( |
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Subcontractor costs |
( |
( |
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Gross profit |
612,434 |
513,589 |
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Distribution costs |
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Administrative expenses |
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Audit and accountancy other services |
( |
( |
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Advertising, promotions and marketing costs |
( |
( |
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Client entertaining costs |
( |
( |
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Rent, rates and services costs |
( |
( |
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Other repairs and maintenance costs |
( |
( |
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Depreciation of Fixed assets |
( |
( |
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Amortisation of intangible assets |
( |
( |
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Wages and salaries excluding directors |
( |
( |
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Salaries and fees, directors |
( |
( |
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Travel and subsistence |
( |
( |
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Legal and professional costs |
( |
( |
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Bad debts and impairment losses |
( |
- |
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Bank charges |
( |
( |
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Insurance costs |
( |
( |
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Subscriptions |
( |
( |
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Other costs |
( |
( |
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Other operating income |
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Other items |
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Profit on ordinary activities before finance charges and interest |
292,322 |
258,496 |
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Bank interest and similar income receivable |
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Foreign exchange loss included in finance income |
( |
( |
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Interest expense on bank overdraft, bank loans and similar borrowings |
( |
( |
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Profit on ordinary activities before taxation |
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Tax on profit or loss on ordinary activities |
( |
( |
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Profit for the financial year |
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