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REGISTERED NUMBER: 05688656 (England and Wales)









Financial Statements

for the Year Ended 31 March 2024

for

Bushbay Limited

Bushbay Limited (Registered number: 05688656)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Bushbay Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J Lyle





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 05688656 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Bushbay Limited (Registered number: 05688656)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 2 2
Property, plant and equipment 5 228,839 248,707
228,841 248,709

CURRENT ASSETS
Inventories 229,013 434,473
Debtors 6 1,178,359 1,860,244
Cash at bank and in hand 53,686 22,256
1,461,058 2,316,973
CREDITORS
Amounts falling due within one year 7 (951,822 ) (1,729,010 )
NET CURRENT ASSETS 509,236 587,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

738,077

836,672

CREDITORS
Amounts falling due after more than one
year

8

(66,666

)

(112,500

)

PROVISIONS FOR LIABILITIES (56,877 ) (62,095 )
NET ASSETS 614,534 662,077

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 613,534 661,077
SHAREHOLDERS' FUNDS 614,534 662,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Bushbay Limited (Registered number: 05688656)

Statement of Financial Position - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2025 and were signed by:





J Lyle - Director


Bushbay Limited (Registered number: 05688656)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Bushbay Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 5 years

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Bushbay Limited (Registered number: 05688656)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Government grants
Government grants are recognised as income when the grant proceeds are received or receivable.The grant proceeds are recognised gross as other operating income within the financial statements, with the related costs in the period in which they are intended to compensate being presented in the appropriate expense category.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 41,647
AMORTISATION
At 1 April 2023
and 31 March 2024 41,645
NET BOOK VALUE
At 31 March 2024 2
At 31 March 2023 2

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023 574,546
Additions 117,550
At 31 March 2024 692,096
DEPRECIATION
At 1 April 2023 325,839
Charge for year 137,418
At 31 March 2024 463,257
NET BOOK VALUE
At 31 March 2024 228,839
At 31 March 2023 248,707

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 115,743 602,005
Amounts owed by group undertakings 1,045,337 1,220,119
Other debtors 17,279 38,120
1,178,359 1,860,244

Bushbay Limited (Registered number: 05688656)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 82,981 480,984
Amounts owed to group undertakings 695,019 963,983
Taxation and social security 99,840 182,736
Other creditors 23,982 51,307
951,822 1,729,010

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 66,666 112,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 116,666 162,500

The bank loan is secured by a fixed and floating charge over the company's assets.