Busysky (Kendall) Ltd 13873731 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the letting and operating of the company's own investment property. Digita Accounts Production Advanced 6.30.9574.0 true true 13873731 2023-02-01 2024-01-31 13873731 2024-01-31 13873731 bus:OrdinaryShareClass1 2024-01-31 13873731 core:CurrentFinancialInstruments 2024-01-31 13873731 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13873731 bus:SmallEntities 2023-02-01 2024-01-31 13873731 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13873731 bus:FilletedAccounts 2023-02-01 2024-01-31 13873731 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13873731 bus:RegisteredOffice 2023-02-01 2024-01-31 13873731 bus:Director1 2023-02-01 2024-01-31 13873731 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 13873731 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13873731 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-02-01 2024-01-31 13873731 countries:EnglandWales 2023-02-01 2024-01-31 13873731 2023-01-31 13873731 2022-01-26 2023-01-31 13873731 2023-01-31 13873731 bus:OrdinaryShareClass1 2023-01-31 13873731 core:CurrentFinancialInstruments 2023-01-31 13873731 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13873731

Busysky (Kendall) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Busysky (Kendall) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Busysky (Kendall) Ltd

Company Information

Director

J J P Priestley

Registered office

Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD

Accountants

CHF Accountancy Limited
Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD

 

Busysky (Kendall) Ltd

(Registration number: 13873731)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

725,000

725,000

Current assets

 

Debtors

5

429,313

59,609

Cash at bank and in hand

 

398

80

 

429,711

59,689

Creditors: Amounts falling due within one year

6

(403,267)

(36,210)

Net current assets

 

26,444

23,479

Net assets

 

751,444

748,479

Capital and reserves

 

Called up share capital

7

725,000

725,000

Retained earnings

26,444

23,479

Shareholders' funds

 

751,444

748,479

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 February 2025
 

.........................................
J J P Priestley
Director

 

Busysky (Kendall) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Courtwood House
Silver Street Head
Sheffield
South Yorkshire
S1 2DD
United Kingdom

These financial statements were authorised for issue by the director on 3 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents rent received from operating leases, which is recognised on a straight line basis over the period of the lease.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Busysky (Kendall) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Busysky (Kendall) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 February

725,000

At 31 January

725,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 January 2024 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5

Debtors

Current

2024
£

2023
£

Trade debtors

21,250

16,250

Prepayments

716

447

Other debtors

407,347

42,912

 

429,313

59,609

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

355,000

-

Trade creditors

 

5,310

226

Taxation and social security

 

6,203

9,205

Accruals and deferred income

 

35,478

26,779

Other creditors

 

1,276

-

 

403,267

36,210

 

Busysky (Kendall) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

725,000

725,000

725,000

725,000

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

355,000

-

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

The company's investment property was transferred to Busysky (Kendall) Ltd at market value during the year ended 31 January 2023 from Busysky Holdings Limited, a company under common control,

During the year, BusySky Limited, a company under common control, collected rental income and paid expenses on behalf of Busysky (Kendall) Ltd. A balance of £405,458 (2023 : £42,912) was owed to Busysky (Kendall) Ltd at 31 January 2024 and is included in other debtors.