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REGISTERED NUMBER: 01488352 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Bushybay Limited

Bushybay Limited (Registered number: 01488352)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Bushybay Limited (Registered number: 01488352)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,978,403 1,993,503

CURRENT ASSETS
Debtors 5 309,943 316,298
Cash at bank 54,761 49,698
364,704 365,996
CREDITORS
Amounts falling due within one year 6 44,806 30,958
NET CURRENT ASSETS 319,898 335,038
TOTAL ASSETS LESS CURRENT LIABILITIES 2,298,301 2,328,541

PROVISIONS FOR LIABILITIES 291,422 304,074
NET ASSETS 2,006,879 2,024,467

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 7 1,328,014 1,318,571
Retained earnings 678,862 705,893
SHAREHOLDERS' FUNDS 2,006,879 2,024,467

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





Mrs D A Bird - Director


Bushybay Limited (Registered number: 01488352)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Bushybay Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01488352

Registered office: Gorst Barn Farm
Brandhill
Nr Craven Arms
Shropshire
SY7 0PG

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.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Rental income
All rental income received or receivable in respect of investment properties is credited to revenue on an accruals basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Bushybay Limited (Registered number: 01488352)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,993,503
Additions 15,720
Disposals (35,100 )
Revaluations 4,280
At 31 March 2024 1,978,403
NET BOOK VALUE
At 31 March 2024 1,978,403
At 31 March 2023 1,993,503

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 1,619,436
Valuation in 2024 4,280
Cost 354,687
1,978,403

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 354,687 346,413

Investment property was valued on open market basis on 31 March 2024 by the directors .

In the opinion of the directors, the fair value of the properties held at 31 March 2024 had not changed materially from the previous valuation.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,184 3,639
Amounts owed by group undertakings 297,975 305,846
Other debtors 6,784 6,813
309,943 316,298

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 11,034 3,963
Amounts owed to associates 1,665 236
Taxation and social security 20,512 15,350
Other creditors 11,595 11,409
44,806 30,958

Bushybay Limited (Registered number: 01488352)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. RESERVES
Revaluation
reserve
£   
At 1 April 2023 1,318,571
Transfer of revaluation 9,443

At 31 March 2024 1,328,014

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
£    £   
B M Ball
Balance outstanding at start of year - 24,000
Amounts repaid - (24,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr P A Mellor
Balance outstanding at start of year - 12,000
Amounts repaid - (12,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -