Company Registration No. 05367430 (England and Wales)
BUSHE DEVELOPMENTS (UK) LIMITED
Unaudited accounts
for the period from 1 March 2023 to 28 February 2024
BUSHE DEVELOPMENTS (UK) LIMITED
Unaudited accounts
Contents
BUSHE DEVELOPMENTS (UK) LIMITED
Company Information
for the period from 1 March 2023 to 28 February 2024
Directors
Mrs. Nicole Suki Milner
Mr. James Michael Bushe
Mr. Brendan Bushe
Company Number
05367430 (England and Wales)
Registered Office
4 Baird Road
Enfield
London
EN1 1SJ
United Kingdom
Accountants
Stoke Newington Accountants & Tax Consultants Ltd
4 Baird Road
Enfield
Middlesex
EN1 1SJ
BUSHE DEVELOPMENTS (UK) LIMITED
Statement of financial position
as at 28 February 2024
Tangible assets
514,170
514,578
Inventories
85,650
194,250
Debtors
4,083,282
3,218,986
Cash at bank and in hand
907,301
1,191,446
Creditors: amounts falling due within one year
(5,008,493)
(4,633,308)
Net current assets/(liabilities)
67,740
(28,626)
Net assets
581,910
485,952
Called up share capital
100
100
Profit and loss account
581,810
485,852
Shareholders' funds
581,910
485,952
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by
Mr. Brendan Bushe
Director
Company Registration No. 05367430
BUSHE DEVELOPMENTS (UK) LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
BUSHE DEVELOPMENTS (UK) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05367430. The registered office is 4 Baird Road, Enfield, London, EN1 1SJ, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No Depreciation
Plant & machinery
20% Reducing Bal Method
Motor vehicles
25% Reducing Bal Method
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Investments in shares are included at fair value.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
BUSHE DEVELOPMENTS (UK) LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
509,899
49,253
12,099
571,251
At 28 February 2024
509,899
49,920
12,099
571,918
At 1 March 2023
-
44,698
11,975
56,673
Charge for the period
-
1,044
31
1,075
At 28 February 2024
-
45,742
12,006
57,748
At 28 February 2024
509,899
4,178
93
514,170
At 28 February 2023
509,899
4,555
124
514,578
Amounts falling due within one year
Trade debtors
63,152
38,086
Amounts due from group undertakings etc.
2,920,900
2,660,900
Other debtors
1,099,230
520,000
BUSHE DEVELOPMENTS (UK) LIMITED
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
30,748
77,422
Taxes and social security
50,778
41,492
Other creditors
345,203
345,203
Loans from directors
4,569,752
4,155,472
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Transactions with related parties
At the balance sheet date, where the director held controlling interests, the company was due from Bluehills Developments Company Ltd £775,000, Cruz Developments Ltd £1,300,000, Kingsdown Retirement Village Ltd £320,000, Hooks Hill Development Ltd £525,800 and Windleigh Developments Ltd £100.
At the balance sheet date, where the director held controlling interest, the company owed the director £4,569,752.
The company's ultimate controlling party is that of Mr. Brendon Bushe as he holds the majority of the issued share capital of the company.
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Average number of employees
During the period the average number of employees was 3 (2023: 3).