Registered number
01244878
Steve Bushell Limited
Filleted Accounts
31 March 2024
Steve Bushell Limited
Registered number: 01244878
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 60,978 61,365
Current assets
Debtors 4 44,455 79,070
Cash at bank and in hand 429 41
44,884 79,111
Creditors: amounts falling due within one year 5 (71,696) (66,932)
Net current (liabilities)/assets (26,812) 12,179
Total assets less current liabilities 34,166 73,544
Provisions for liabilities (10) (13)
Net assets 34,156 73,531
Capital and reserves
Called up share capital 100 100
Profit and loss account 34,056 73,431
Shareholders' funds 34,156 73,531
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Bushell
Director
Approved by the board on 1 August 2024
Steve Bushell Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold land and buildings Not depreciated
Freehold land and buildings - impprovements 25% reducing balance
Plant and machinery etc 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 67,641 18,598 86,239
At 31 March 2024 67,641 18,598 86,239
Depreciation
At 1 April 2023 6,346 18,528 24,874
Charge for the year 370 17 387
At 31 March 2024 6,716 18,545 25,261
Net book value
At 31 March 2024 60,925 53 60,978
At 31 March 2023 61,295 70 61,365
4 Debtors 2024 2023
£ £
Trade debtors 44,455 77,590
Other debtors - 1,480
44,455 79,070
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 40 116
Taxation and social security costs 5,635 5,312
Other creditors 66,021 61,504
71,696 66,932
6 Related party transactions
During the year the directors, Mr S and Mrs L Bushell had a loan to the company. The loan is interest free and repayable on demand. At the balance sheet date the amount due to Mr S and Mrs L Bushell amounted to £61875 (2023 £58858). During the year the company paid a dividend of £3900 to the directors.
During the year the director, Mr M Bushell had a loan to the company. The loan is interest free and repayable on demand. At the balance sheet date the amount due to Mr M Bushell amounted to £975 (2023 Nil).
During the year the director, Ms V Matthewsl had a loan to the company. The loan is interest free and repayable on demand. At the balance sheet date the amount due to Ms V Matthewsl amounted to £975 (2023 £402).
7 Controlling party
The company is under the control of Mr S Bushell.
8 Other information
Steve Bushell Limited is a private company limited by shares and incorporated in England. Its registered office is:
5a Bath Place
Taunton
Somerset
TA1 4ER
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