REGISTERED NUMBER: SC166832 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BONSQUARE 508 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

Chartered Accountants' Report

6

DIRECTORS:

Mr D Flin

Mr G Truscott

SECRETARY:

Peterkins

REGISTERED OFFICE:

100 Union Street

ABERDEEN

AB10 1QR

REGISTERED NUMBER:

SC166832 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

Chartered Accountants

4 West Craibstone Street

Bon-Accord Square

ABERDEEN

AB11 6YL

FIXED ASSETS

Tangible assets

4

1,319,732

1,325,647

CURRENT ASSETS

Stocks

14,624

12,156

Debtors

5

10,665

15,922

Cash at bank and in hand

13,565

25,362

38,854

53,440

CREDITORS

Amounts falling due within one year

6

288,029

1,091,574

NET CURRENT LIABILITIES

(249,175

)

(1,038,134

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,070,557

287,513

CREDITORS

Amounts falling due after more than one year

7

776,278

-

NET ASSETS

294,279

287,513

CAPITAL AND RESERVES

Called up share capital

140,000

140,000

Non-distributable reserves

208,706

214,621

Retained earnings

(54,427

)

(67,108

)

SHAREHOLDERS' FUNDS

294,279

287,513

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 30 December 2025 and were signed on its behalf by:

Mr D Flin - Director

1.	STATUTORY INFORMATION

Bonsquare 508 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the rendering of services.

Rendering of Services

Revenue is recognised in the accounting period in which the services are rendered when the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 cost or valuation of assets less their residual values over their estimated useful lives on the following bases:

Land

Nil

Buildings

2% straight line

Furnishings and equipment

15% reducing balance

No depreciation has been charged for freehold property in the year as the directors are of the opinion that residual value is not materially lower than cost.

Stocks

Stocks have been valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

1,286,227

264,212

1,550,439

DEPRECIATION

At 1 January 2024

-

224,792

224,792

Charge for year

-

5,915

5,915

At 31 December 2024

-

230,707

230,707

NET BOOK VALUE

At 31 December 2024

1,286,227

33,505

1,319,732

At 31 December 2023

1,286,227

39,420

1,325,647

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2012

585,517

(90,886

)

494,631

Valuation in 2018

(550,000

)

-

(550,000

)

Cost

1,250,710

355,098

1,605,808

1,286,227

264,212

1,550,439

Land and buildings were valued on an open market basis on 31 December 2024 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

6,728

11,963

Other debtors

3,937

3,959

10,665

15,922

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

30,915

826,213

Trade creditors

41,521

43,051

Taxation and social security

31,398

33,490

Other creditors

184,195

188,820

288,029

1,091,574

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

776,278

-

2024

2023

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

621,742

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

807,193

826,213

The bank loan is secured by standard security over 239 Great Western Road, Aberdeen and a bond and floating charge over the assets of the company.

9.	OTHER FINANCIAL COMMITMENTS

Amounts outstanding at the year end relating to defined contribution pension schemes totalled £632 (2023: £806) and these are included within Other creditors.

10.	RELATED PARTY DISCLOSURES

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bonsquare 508 Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Bonsquare 508 Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bonsquare 508 Limited and state those matters that we have agreed to state to the Board of Directors of Bonsquare 508 Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bonsquare 508 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bonsquare 508 Limited. You consider that Bonsquare 508 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 financial statements of Bonsquare 508 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 financial statements.

Bain Henry Reid

Chartered Accountants

4 West Craibstone Street

Bon-Accord Square

ABERDEEN

AB11 6YL

30 December 2025