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REGISTERED NUMBER: 01146917 (England and Wales)















B. A. BUSH (TYRES) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






B. A. BUSH (TYRES) LIMITED (REGISTERED NUMBER: 01146917)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6

Accountants' Report 7

B. A. BUSH (TYRES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: T A Bush
B C Bush





SECRETARY: B C Bush





REGISTERED OFFICE: Bush Tyres
Station Yard
Horncastle
Lincolnshire
LN9 5AQ





REGISTERED NUMBER: 01146917 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

B. A. BUSH (TYRES) LIMITED (REGISTERED NUMBER: 01146917)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 78,382 82,692
Investment property 5 500,000 546,504
578,382 629,196

CURRENT ASSETS
Stocks 203,087 174,908
Debtors 6 331,856 600,654
Cash at bank and in hand 480,787 32,915
1,015,730 808,477
CREDITORS
Amounts falling due within one year 7 625,467 222,527
NET CURRENT ASSETS 390,263 585,950
TOTAL ASSETS LESS CURRENT LIABILITIES 968,645 1,215,146

CREDITORS
Amounts falling due after more than one year 8 - (241,686 )

PROVISIONS FOR LIABILITIES (17,021 ) (15,081 )
NET ASSETS 951,624 958,379

CAPITAL AND RESERVES
Called up share capital 11 300 300
Retained earnings 951,324 958,079
SHAREHOLDERS' FUNDS 951,624 958,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

B. A. BUSH (TYRES) LIMITED (REGISTERED NUMBER: 01146917)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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 20 September 2024 and were signed on its behalf by:





T A Bush - Director


B. A. BUSH (TYRES) LIMITED (REGISTERED NUMBER: 01146917)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

B. A. Bush (Tyres) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and at varying rates on cost

Tangible fixed assets are held at cost less depreciation.

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowance for slow and obsolete 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 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.

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.

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 the profit and loss account in the period to which they relate.

B. A. BUSH (TYRES) LIMITED (REGISTERED NUMBER: 01146917)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 287,667
Disposals (65,166 )
At 31 December 2023 222,501
DEPRECIATION
At 1 January 2023 204,975
Charge for year 11,801
Eliminated on disposal (72,657 )
At 31 December 2023 144,119
NET BOOK VALUE
At 31 December 2023 78,382
At 31 December 2022 82,692

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 546,504
Revaluations (46,504 )
At 31 December 2023 500,000
NET BOOK VALUE
At 31 December 2023 500,000
At 31 December 2022 546,504

The Directors feel that this is the fair value of the property at the financial reporting date.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2024 (46,504 )
Cost 546,504
500,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 322,684 319,526
Other debtors 9,172 281,128
331,856 600,654

B. A. BUSH (TYRES) LIMITED (REGISTERED NUMBER: 01146917)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 32,186
Trade creditors 278,538 171,289
Amounts owed to group undertakings 323,617 -
Taxation and social security 15,904 14,644
Other creditors 7,408 4,408
625,467 222,527

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 241,686

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 30,000 30,000
Between one and five years 95,000 120,000
In more than five years - 5,000
125,000 155,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 273,872

The loan with NatWest Bank was taken out on 28 September 2015 and is secured by way of legal mortgage on 124-134 Springbank, Kingston Upon Hull, HU13 1QL.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300 Ordinary £1 300 300

12. CONTINGENT LIABILITIES

The company has given an unlimited guarantee in favour of B A Bush & Son Limited.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
B. A. BUSH (TYRES) LIMITED

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 Statement of Financial Position. 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 B. A. Bush (Tyres) Limited for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of B. A. Bush (Tyres) 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 B. A. Bush (Tyres) Limited and state those matters that we have agreed to state to the Board of Directors of B. A. Bush (Tyres) Limited, as a body, in this report. 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 B. A. Bush (Tyres) 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 loss of B. A. Bush (Tyres) Limited. You consider that B. A. Bush (Tyres) 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 B. A. Bush (Tyres) 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.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


23 September 2024