T Bush (Billingsgate) Limited
Unaudited Financial Statements
For the year ended 30 June 2024
Pages for Filing with Registrar
Company Registration No. 00586728 (England and Wales)
T Bush (Billingsgate) Limited
Company Information
Directors
J. J. Suett
R. M. Suett
Company number
00586728
Registered office
Office 44 Billingsgate Market
Trafalgar Way
London
E14 5ST
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
T Bush (Billingsgate) Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
T Bush (Billingsgate) Limited
Balance Sheet
As at 30 June 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,838
7,742
Investments
4
526,263
482,814
532,101
490,556
Current assets
Stock
800
800
Debtors
5
674,374
705,406
Cash at bank and in hand
109,804
54,081
784,978
760,287
Creditors: amounts falling due within one year
6
(170,141)
(129,381)
Net current assets
614,837
630,906
Total assets less current liabilities
1,146,938
1,121,462
Provisions for liabilities
(199)
(594)
Net assets
1,146,739
1,120,868
Capital and reserves
Called up share capital
8
1,666
1,666
Profit and loss reserves
1,145,073
1,119,202
Total equity
1,146,739
1,120,868
T Bush (Billingsgate) Limited
Balance Sheet (Continued)
As at 30 June 2024
Page 2
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 September 2024 and are signed on its behalf by:
J. J. Suett
R. M. Suett
Director
Director
Company Registration No. 00586728
T Bush (Billingsgate) Limited
Statement of Changes in Equity
For the year ended 30 June 2024
Page 3
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2022
2,500
2,010,509
2,013,009
Year ended 30 June 2023:
Profit and total comprehensive income for the year
-
387,086
387,086
Dividends
-
(380,000)
(380,000)
Reduction of shares
8
(834)
(898,393)
(899,227)
Balance at 30 June 2023
1,666
1,119,202
1,120,868
Year ended 30 June 2024:
Profit and total comprehensive income for the year
-
395,871
395,871
Dividends
-
(370,000)
(370,000)
Balance at 30 June 2024
1,666
1,145,073
1,146,739
T Bush (Billingsgate) Limited
Notes to the Financial Statements
For the year ended 30 June 2024
Page 4
1
Accounting policies
Company information
T Bush (Billingsgate) Limited is a private company limited by shares incorporated in England and Wales. The registered office and business address is Office 44 Billingsgate Market, Trafalgar Way, London, E14 5ST.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the wholesale and retail selling of wet fish.
1.3
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:
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
1.4
Investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed to profit or loss as incurred. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously recognised in profit or loss, or a loss exceeds the accumulated gains recognised in equity; such gains and loss are recognised in profit or loss.
1.5
Stock
Stocks are stated at the lower of cost and net realisable value. £800 is an estimate of the purchase value of wet fish, purchased on the last day of the financial year but unsold.
1.6
Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.
1.7
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
T Bush (Billingsgate) Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
Page 5
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
1.9
Pension scheme arrangements
The company makes contributions to a money purchase contribution scheme, the assets of the scheme being held separately from the assets of the company. During the year 4 directors were members of the scheme.
1.10
Leasing
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 11 (2023: 10).
T Bush (Billingsgate) Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 6
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 and 30 June 2024
96,765
Depreciation and impairment
At 1 July 2023
89,023
Depreciation charged in the year
1,904
At 30 June 2024
90,927
Carrying amount
At 30 June 2024
5,838
At 30 June 2023
7,742
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
526,263
482,814
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 July 2023
482,814
Additions
491,823
Cash movements
16,843
Unrealised losses
(62,617)
Realised gain
104,275
Disposals
(506,875)
At 30 June 2024
526,263
Carrying amount
At 30 June 2024
526,263
At 30 June 2023
482,814
T Bush (Billingsgate) Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 7
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
512,508
545,094
Other debtors
156,319
155,000
Prepayments and accrued income
5,547
5,312
674,374
705,406
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
127,376
89,739
Other taxation and social security
4,538
1,597
Other creditors
2,580
2,700
Accruals and deferred income
35,647
35,345
170,141
129,381
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
199
594
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,666
1,666
1,666
1,666
T Bush (Billingsgate) Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 8
9
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Within one year
15,101
12,584
10
Related party transactions
Included in other debtors is an amount of £155,000 (2023: £155,000) owed by Oyster Mutual Properties Limited, a company controlled by the directors of T Bush (Billingsgate) Limited.
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