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REGISTERED NUMBER: 04375479 (England and Wales)















REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

BELUSHI LIMITED

BELUSHI LIMITED (REGISTERED NUMBER: 04375479)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5


BELUSHI LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTOR: R A G White





REGISTERED OFFICE: 4 Compton Park
Wildmere Road
Banbury
Oxfordshire
OX16 3LU





REGISTERED NUMBER: 04375479 (England and Wales)





ACCOUNTANTS: J A Muncey FCCA
31 Astrop Road
Middleton Cheney
Banbury
Oxfordshire
OX17 2PQ

BELUSHI LIMITED (REGISTERED NUMBER: 04375479)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 29TH FEBRUARY 2024

The director presents his report with the financial statements of the company for the year ended 29th February 2024.

REVIEW OF BUSINESS
The director presents the financial statements for the financial year and is pleased to report that the company has increased turnover for the year and maintained the previous level of gross profit. There has been a necessary increase in overheads to ensure that the company continues to thrive and compete in the market. The major increase has occurred in payroll costs to improve processes and systems which will enable the company to be well placed to maintain and expand the business going forward.The company moved premises during the year to a unit more suited to its needs. The lease on the previous unit has now concluded but for the year under review the running costs were still payable leading to an increase in establishment costs. The 2025 year will see a reduction on those costs.

DIRECTOR
R A G White held office during the whole of the period from 1st March 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





R A G White - Director


19th September 2024

BELUSHI LIMITED (REGISTERED NUMBER: 04375479)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 133,994 76,757
Tangible assets 6 135,772 62,809
269,766 139,566

CURRENT ASSETS
Stocks 556,261 431,836
Debtors 7 1,528,060 1,951,066
Cash at bank and in hand 154,795 104,092
2,239,116 2,486,994
CREDITORS
Amounts falling due within one year 8 1,756,963 1,914,438
NET CURRENT ASSETS 482,153 572,556
TOTAL ASSETS LESS CURRENT LIABILITIES 751,919 712,122

PROVISIONS FOR LIABILITIES 15,103 10,073
NET ASSETS 736,816 702,049

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 736,716 701,949
SHAREHOLDERS' FUNDS 736,816 702,049

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BELUSHI LIMITED (REGISTERED NUMBER: 04375479)

BALANCE SHEET - continued
29TH FEBRUARY 2024


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 director and authorised for issue on 19th September 2024 and were signed by:





R A G White - Director


BELUSHI LIMITED (REGISTERED NUMBER: 04375479)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Belushi 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
The company sells goods via its website and other on line platforms. for delivery to the customer.Revenue is recognised when the risks and rewards of the goods is passed to the customer on acceptance by the customer. Turnover represents the invoiced value of the goods supplied by the company net of Value Added Tax after taking into account fees,credits and returns.

Intangible assets
Development expenditure is normally written off in the year of expenditure, however, expenditure incurred on specific projects is capitalized and is amortized over the term expected to benefit from the expenditure and is reviewed annually..

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

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 26 ) .

BELUSHI LIMITED (REGISTERED NUMBER: 04375479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st March 2023 107,395
Additions 65,108
Disposals (30,638 )
At 29th February 2024 141,865
AMORTISATION
At 1st March 2023 30,638
Charge for year 7,871
Eliminated on disposal (30,638 )
At 29th February 2024 7,871
NET BOOK VALUE
At 29th February 2024 133,994
At 28th February 2023 76,757

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st March 2023 14,146 124,406 138,552
Additions 31,444 58,837 90,281
Disposals - (5,542 ) (5,542 )
At 29th February 2024 45,590 177,701 223,291
DEPRECIATION
At 1st March 2023 4,351 71,392 75,743
Charge for year 4,941 9,119 14,060
Eliminated on disposal - (2,284 ) (2,284 )
At 29th February 2024 9,292 78,227 87,519
NET BOOK VALUE
At 29th February 2024 36,298 99,474 135,772
At 28th February 2023 9,795 53,014 62,809

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 531,911 452,502
Other debtors 996,149 1,498,564
1,528,060 1,951,066

BELUSHI LIMITED (REGISTERED NUMBER: 04375479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,568,197 1,828,233
Taxation and social security 124,437 76,685
Other creditors 64,329 9,520
1,756,963 1,914,438

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 3,600 -
Between one and five years 239,046 237,600
242,646 237,600

On 23rd February 2023 a formal lease was signed on a new commercial unit. The total minimum rental payments due are included in the above figure.

10. RELATED PARTY DISCLOSURES

A loan of £915,000 was owed to the company by a building development company in which RAG White is a director and shareholder.

RAG White and D White are regarded as joint ultimate controlling party by virtue of their shareholding.