Registration number:
for the
Year Ended 31 May 2024
Bushell & Meadows Limited
Contents
Company Information |
|
Strategic Report |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Profit and Loss Account |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
Bushell & Meadows Limited
Company Information
Directors |
C R Desoutter G C Desoutter W P Desoutter A R Wansbrough |
Company secretary |
R Whittingham |
Registered office |
|
Bankers |
Barclays Bank Plc |
Auditors |
|
Bushell & Meadows Limited
Strategic Report
for the Year Ended 31 May 2024
The directors present their strategic report for the year ended 31 May 2024.
Principal activity
The principal activity of the Company is the manufacture of mechanical components for the medical industry.
Fair review of the business
The directors are satisfied with the results shown in the accompanying financial statements and aim to continue improving trade in the future.
Principal risks and uncertainties
The management of the business and the execution of the company’s strategy are subject to a number of risks. The key business risks affecting the company are considered to relate to currency exchange fluctuations, the effect of legislation and other regulations and government policies. The key customer of the company is its immediate parent undertaking and the impact of these key risks are more fully explained in their financial statements. Otherwise the business seeks to mitigate exposure to all forms of risk where applicable.
Key performance indicators
The directors consider turnover and operating profit margin to be key performance indicators of the business.
Future developments
The worldwide market for medical devices will continue to grow and the directors believe the company is well placed to support the group in taking advantage of this growth.
Non-financial and sustainability information
Approved by the
Director
Bushell & Meadows Limited
Directors' Report
for the Year Ended 31 May 2024
The Directors present their report and the financial statements for the year ended 31 May 2024.
Directors of the company
The Directors who held office during the year were as follows:
Going concern
In accordance with Financial Reporting Council's 'Going Concern and Liquidity Risk: Guidance for Directors of UK Companies 2006' the directors of all companies are now required to provide disclosures regarding the adoption of the going concern basis of accounting.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Matters covered in the Strategic Report
Information on the future developments of the business and financial risk management is shown in the Strategic Report.
Disclosure of information to the auditors
Each Director has taken steps that they ought to have taken as a Director in order to make themselves aware of any relevant audit information and to establish that the Company's auditors are aware of that information. The Directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
The auditors Hazlewoods LLP are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved by the
Director
Bushell & Meadows Limited
Statement of Directors' Responsibilities
The Directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the Company for that period. In preparing these financial statements, the Directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | state whether applicable UK Accounting Standards has been followed, subject to any material departures disclosed and explained in the financial statements; and |
• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. |
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Bushell & Meadows Limited
Independent Auditor's Report to the Members of Bushell & Meadows Limited
Opinion
We have audited the financial statements of Bushell & Meadows Limited (the 'company') for the year ended 31 May 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
Bushell & Meadows Limited
Independent Auditor's Report to the Members of Bushell & Meadows Limited
• |
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• |
the financial statements are not in agreement with the accounting records and returns; or |
• |
certain disclosures of directors' remuneration specified by law are not made; or |
• |
we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We considered the nature of the company’s industry and its control environment and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.
We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
• |
reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
• |
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud; |
• |
enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and |
• |
reading minutes of meetings of those charged with governance. |
Bushell & Meadows Limited
Independent Auditor's Report to the Members of Bushell & Meadows Limited
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
Staverton Court
Gloucestershire
GL51 0UX
Bushell & Meadows Limited
Profit and Loss Account
for the Year Ended 31 May 2024
Note |
2024 |
2023 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Operating profit |
1,341,887 |
1,614,448 |
|
Other interest receivable and similar income |
|
|
|
Profit before tax |
|
|
|
Tax on profit |
( |
( |
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no other comprehensive income for the year.
Bushell & Meadows Limited
(Registration number: 00742695)
Balance Sheet as at 31 May 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
5,833 |
5,833 |
|
Share premium reserve |
9,999 |
9,999 |
|
Capital redemption reserve |
5,278 |
5,278 |
|
Retained earnings |
10,620,038 |
10,611,628 |
|
Shareholders' funds |
10,641,148 |
10,632,738 |
Approved and authorised by the
.........................................
G C Desoutter
Director
Bushell & Meadows Limited
Statement of Changes in Equity
for the Year Ended 31 May 2024
Share capital |
Share premium |
Capital redemption reserve |
Retained earnings |
Total |
|
At 1 June 2022 |
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
Dividends |
- |
- |
- |
( |
( |
At 31 May 2023 |
5,833 |
9,999 |
5,278 |
10,611,628 |
10,632,738 |
Share capital |
Share premium |
Capital redemption reserve |
Retained earnings |
Total |
|
At 1 June 2023 |
|
|
|
|
|
Profit for the year |
- |
- |
- |
|
|
Dividends |
- |
- |
- |
( |
( |
At 31 May 2024 |
|
|
|
|
|
Bushell & Meadows Limited
Notes to the Financial Statements
for the Year Ended 31 May 2024
General information |
The entity is a private limited company, limited by shares, incorporated in England and Wales.
The address of its registered office is:
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Summary of disclosure exemptions
The Company is considered to be a qualifying entity and has applied exemptions available under FRS 102 in respect of the following disclosures:
- Cash Flow Statement and related notes;
- Key Management Personnel compensation; and
- Transactions and balances between Group entities.
Name of parent of group
These financial statements are consolidated in the financial statements of Descram Holdings Limited.
The financial statements of Descram Holdings Limited may be obtained from the Company's registered office.
Going concern
In assessing whether the going concern basis is appropriate, the directors take into account all available information about the future, which is at least, but not limited to, 12 months from the date of signing these financial statements.
The financial statements have been prepared on the going concern basis, which the directors believe to be appropriate. The directors continue to monitor the business’ requirements and have made plans which underpin the going concern basis for the business.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Bushell & Meadows Limited
Notes to the Financial Statements
for the Year Ended 31 May 2024
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The Company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the Company's activities.
Foreign currency transactions and balances
Tax
The tax expense for the period comprises corporation tax and deferred tax. Tax is recognised in the profit and loss account, 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 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.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and assets in the course construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and equipment |
10% - 15% of cost per annum |
Motor vehicles |
20% of cost per annum |
Freehold land and buildings |
Land - nil / Buildings - over 40 years |
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.
Bushell & Meadows Limited
Notes to the Financial Statements
for the Year Ended 31 May 2024
Trade debtors
Trade debtors are amounts due from customers for goods sold in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost, 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 debt.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average purchase cost method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss account.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
A non-financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
Bushell & Meadows Limited
Notes to the Financial Statements
for the Year Ended 31 May 2024
Turnover |
The analysis of the company's Turnover for the year, all of which was derived from the United Kingdom, is as follows:
2024 |
2023 |
|
Sale of goods |
|
|
Other revenue |
|
|
|
|
Operating profit |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
|
Foreign exchange (gains)/losses |
( |
|
Operating lease expense - property |
|
- |
Profit on disposal of property, plant and equipment |
( |
( |
Auditors' remuneration |
2024 |
2023 |
|
Audit of the financial statements |
|
|
Other fees to auditors |
||
All other non-audit services |
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration and key management remuneration) were as follows:
2024 |
2023 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Pension costs, defined contribution scheme |
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
2024 |
2023 |
|
Directors |
|
|
Administration and production |
|
|
|
|
Bushell & Meadows Limited
Notes to the Financial Statements
for the Year Ended 31 May 2024
Directors' remuneration |
The directors' remuneration for the year was as follows:
2024 |
2023 |
|
Remuneration |
|
|
Taxation |
Tax charged/(credited) in the profit and loss account
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
|
- |
UK corporation tax adjustment to prior periods |
- |
( |
81,281 |
(339) |
|
Deferred taxation |
||
Arising from origination and reversal of timing differences |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
2024 |
2023 |
|
Profit before tax |
|
|
Corporation tax at standard rate |
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
- |
Deferred tax expense relating to changes in tax rates or laws |
- |
|
Deferred tax credit from unrecognised temporary difference from a prior period |
( |
- |
Decrease in UK and foreign current tax from adjustments for prior periods |
- |
( |
Fixed asset differences on ineligible costs |
|
( |
Total tax charge |
|
|
Bushell & Meadows Limited
Notes to the Financial Statements
for the Year Ended 31 May 2024
Deferred tax
Deferred tax assets and liabilities:
2024 |
Liability |
Fixed asset timing differences |
|
Losses and other deductions |
( |
|
2023 |
Liability |
Fixed asset timing differences |
|
Losses and other deductions |
( |
|
Tangible assets |
Freehold land and buildings |
Plant and machinery |
Motor vehicles |
Total |
|
Cost |
||||
At 1 June 2023 |
|
|
|
|
Additions |
- |
|
- |
|
Disposals |
- |
( |
- |
( |
At 31 May 2024 |
|
|
|
|
Depreciation |
||||
At 1 June 2023 |
|
|
|
|
Charge for the year |
|
|
|
|
Eliminated on disposal |
- |
( |
- |
( |
At 31 May 2024 |
|
|
|
|
Carrying amount |
||||
At 31 May 2024 |
|
|
|
|
At 31 May 2023 |
|
|
|
|
Included within the net book value of land and buildings above is £2,332,987 (2023 - £2,415,272) in respect of freehold buildings.
Bushell & Meadows Limited
Notes to the Financial Statements
for the Year Ended 31 May 2024
Stocks |
2024 |
2023 |
|
Raw materials |
|
|
Work in progress |
|
|
Finished goods |
|
|
|
|
Debtors |
2024 |
2023 |
|
Amounts owed by related parties |
|
|
Other debtors |
|
|
Prepayments |
|
|
|
|
Creditors |
2024 |
2023 |
|
Due within one year |
||
Trade creditors |
|
|
Social security and other taxes |
|
|
Accruals |
|
|
|
|
Reserves |
Share premium reserve
The share premium reserve includes any premiums received on issues of share capital. Any transaction costs associated with the issuing of shares are deducted from the share premium.
Capital redemption reserve
The capital redemption reserve include any shares which have been redeemed or purchased wholly or partly out of distributable profits.
Profit and loss account
The profit and loss account includes all current and prior year retained profits and losses.
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
5,833 |
|
5,833 |
Bushell & Meadows Limited
Notes to the Financial Statements
for the Year Ended 31 May 2024
Dividends |
2024 |
2023 |
|
Dividends paid |
1,000,000 |
400,000 |
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
|
Not later than one year |
|
- |
Later than one year and not later than five years |
|
- |
|
- |
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
Pension schemes |
The Company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Company to the scheme and amounted to £
Commitments |
The total amount of capital commitments contracted for but not provided in the financial statements was £378,312 (2023 - £524,020).
Related party transactions |
The Company has taken advantage of the exemption from disclosing transactions with other members of the Group.
Parent and ultimate parent undertaking |
The company's immediate and ultimate parent company is
1 Halton Brook Business Park
Weston Road
Aston Clinton
Aylesbury
Bucks
HP22 5WF