Company registration number 02417457 (England and Wales)
THE BUSH CONSULTANCY LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
THE BUSH CONSULTANCY LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
THE BUSH CONSULTANCY LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
30 April 2024
30 June 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,871
26,672
Current assets
Debtors
4
333,550
549,649
Cash at bank and in hand
129,598
15,682
463,148
565,331
Creditors: amounts falling due within one year
5
(383,920)
(374,435)
Net current assets
79,228
190,896
Total assets less current liabilities
88,099
217,568
Creditors: amounts falling due after more than one year
6
(9,463)
(50,388)
Provisions for liabilities
-
0
(6,668)
Net assets
78,636
160,512
Capital and reserves
Called up share capital
7
36,666
36,666
Capital redemption reserve
18,334
18,334
Profit and loss reserves
23,636
105,512
Total equity
78,636
160,512

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Mr M R Thompson
Director
Company Registration No. 02417457
THE BUSH CONSULTANCY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2024
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2022
36,666
18,334
317,793
372,793
Year ended 30 June 2023:
Loss and total comprehensive income for the year
-
-
(92,281)
(92,281)
Dividends
-
-
(120,000)
(120,000)
Balance at 30 June 2023
36,666
18,334
105,512
160,512
Period ended 30 April 2024:
Loss and total comprehensive income for the period
-
-
(11,876)
(11,876)
Dividends
-
-
(70,000)
(70,000)
Balance at 30 April 2024
36,666
18,334
23,636
78,636
THE BUSH CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

The Bush Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5.20 Paintworks, Bath Road, Bristol, BS4 3EH.

1.1
Reporting period

The reporting period was shortened to 30 April 2024 to bring the year-end in line with the parent company. The comparative amounts in the financial statements cover the period 1 July 2022 to 30 June 2023 and therefore the comparatives and related notes are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The parent company, Ryder Architecture Limited, has confirmed that they will support the company financially if required. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover represents revenue earned under a variety of contracts to provide professional services. Revenue is recognised when earned when, and to the extend that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding discounts, rebates, value added tax and other sales taxes.

 

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed.

 

Fee income that is contingent on events outside control of the firm is recognised when the contingent event occurs.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
15% on cost
Fixtures and fittings
15% on cost
Computers
25% on cost
THE BUSH CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

THE BUSH CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

THE BUSH CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -
1.13

Related party exemption

The company has taken advantage of exemption, under the provisions of section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
13
21
3
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 July 2023 and 30 April 2024
14,097
1,232
70,015
85,344
Depreciation and impairment
At 1 July 2023
14,097
1,186
43,389
58,672
Depreciation charged in the period
-
0
46
17,755
17,801
At 30 April 2024
14,097
1,232
61,144
76,473
Carrying amount
At 30 April 2024
-
0
-
0
8,871
8,871
At 30 June 2023
-
0
46
26,626
26,672
4
Debtors
30 April 2024
30 June 2023
Amounts falling due within one year:
£
£
Trade debtors
286,421
336,657
Gross amounts owed by contract customers
-
0
49,712
Other debtors
306
19,213
Prepayments and accrued income
46,823
144,067
333,550
549,649
THE BUSH CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 7 -
5
Creditors: amounts falling due within one year
30 April 2024
30 June 2023
£
£
Bank loans
-
0
14,780
Obligations under finance leases
27,353
-
0
Trade creditors
6,307
189,082
Gross amounts owed to contract customers
4,758
-
0
Amounts owed to group undertakings
196,704
-
0
Taxation and social security
125,285
111,617
Other creditors
9,508
55,843
Accruals and deferred income
14,005
3,113
383,920
374,435
6
Creditors: amounts falling due after more than one year
30 April 2024
30 June 2023
Notes
£
£
Bank loans and overdrafts
-
0
50,388
Obligations under finance leases
9,463
-
0
9,463
50,388

The bank loan was secured to NatWest by a fixed and floating charge over the trade and assets of the company.

Amounts included above which fall due after five years are as follows:
Payable by instalments
-
9,569
7
Called up share capital
2024
2023
30 April 2024
30 June 2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
36,666
36,666
36,666
36,666
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Joanne Regan FCA
Statutory Auditor:
Azets Audit Services
THE BUSH CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 8 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
2,336
5,256
10
Parent company

Following acquisition on 31 January 2024, the company is a wholly owned subsidiary of Ryder Architecture Limited, a company incorporated in England. Ryder Architecture Limited is the immediate controlling party. The registered office of Ryder Architecture Limited is Cooper's Studio, 14-18 Westgate Road, Newcastle upon Tyne, NE1 3NN.

 

There is no ultimate controlling party.

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