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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
Page
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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
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BUSHE DEVELOPMENTS (UK) LIMITED Statement of financial position as at 28 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
514,170 
514,578 
Current assets
Inventories
85,650 
194,250 
Debtors
4,083,282 
3,218,986 
Cash at bank and in hand
907,301 
1,191,446 
5,076,233 
4,604,682 
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 
Capital and reserves
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
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BUSHE DEVELOPMENTS (UK) LIMITED Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
1
Statutory information
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.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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
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
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
Investments in shares are included at fair value.
Pension costs
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.
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BUSHE DEVELOPMENTS (UK) LIMITED Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
Foreign exchange
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 taxation
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4
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 
Additions
- 
667 
- 
667 
At 28 February 2024
509,899 
49,920 
12,099 
571,918 
Depreciation
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 
Net book value
At 28 February 2024
509,899 
4,178 
93 
514,170 
At 28 February 2023
509,899 
4,555 
124 
514,578 
5
Debtors
2024 
2023 
£ 
£ 
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 
4,083,282 
3,218,986 
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BUSHE DEVELOPMENTS (UK) LIMITED Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
9,858 
11,065 
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 
Accruals
2,154 
2,654 
5,008,493 
4,633,308 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
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.
9
Controlling party
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.
10
Average number of employees
During the period the average number of employees was 3 (2023: 3).
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