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REGISTERED NUMBER: 03840217 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

BUSSEY & ARMSTRONG PROJECTS LIMITED

BUSSEY & ARMSTRONG PROJECTS LIMITED (REGISTERED NUMBER: 03840217)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BUSSEY & ARMSTRONG PROJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTOR: Mr A J Cooper



SECRETARY: Mrs A E Cooper



REGISTERED OFFICE: 147 Brinkburn Road
Darlington
Co. Durham
DL3 9LA



REGISTERED NUMBER: 03840217 (England and Wales)



BANKERS: Handelsbanken
2nd Floor
Lakeside House
Kingfisher Way
Stockton-on-Tees
TS18 3NB



SOLICITORS: BHP Law
Westgate House
Faverdale
Darlington
County Durham
DL3 OPZ

BUSSEY & ARMSTRONG PROJECTS LIMITED (REGISTERED NUMBER: 03840217)

ABRIDGED BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 3,248 3,821
Investment property 5 2,160,000 2,160,000
2,163,248 2,163,821

CURRENT ASSETS
Stocks and work in progress 7,341,750 11,544,203
Debtors 6 9,452,928 8,995,544
Cash at bank 5,088,220 2,827
21,882,898 20,542,574
CREDITORS
Amounts falling due within one year 1,636,007 920,223
NET CURRENT ASSETS 20,246,891 19,622,351
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,410,139

21,786,172

CREDITORS
Amounts falling due after more than one
year

(3,938,699

)

(3,704,168

)

PROVISIONS FOR LIABILITIES (68,312 ) (68,455 )
NET ASSETS 18,403,128 18,013,549

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 8 202,500 202,500
Retained earnings 18,190,628 17,801,049
SHAREHOLDERS' FUNDS 18,403,128 18,013,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

BUSSEY & ARMSTRONG PROJECTS LIMITED (REGISTERED NUMBER: 03840217)

ABRIDGED BALANCE SHEET - continued
31 JANUARY 2025


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 28 May 2025 and were signed by:





Mr A J Cooper - Director


BUSSEY & ARMSTRONG PROJECTS LIMITED (REGISTERED NUMBER: 03840217)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025


1. STATUTORY INFORMATION

Bussey & Armstrong Projects 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of properties sold less discounts given and including part exchange properties. Revenue is recognised at the point of legal completion of the sale.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. In the case of houses, this is on completion of the transaction. In the case of rental income that is when the rent is due. An adjustment is made at the end of the year to defer the proportion of rental income that relates to the period after the year end into the following year.

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 - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks and work in progress
The balance sheet figure reflects the cost of land held, development costs, overheads and where considered appropriate, interest costs, less amounts transferred to cost of sales.

Where properties are retained by the company as investment property, the transfer from stock to investment property is made at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


BUSSEY & ARMSTRONG PROJECTS LIMITED (REGISTERED NUMBER: 03840217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 February 2024
and 31 January 2025 4,495
DEPRECIATION
At 1 February 2024 674
Charge for year 573
At 31 January 2025 1,247
NET BOOK VALUE
At 31 January 2025 3,248
At 31 January 2024 3,821

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 February 2024
and 31 January 2025 2,160,000
NET BOOK VALUE
At 31 January 2025 2,160,000
At 31 January 2024 2,160,000

BUSSEY & ARMSTRONG PROJECTS LIMITED (REGISTERED NUMBER: 03840217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


5. INVESTMENT PROPERTY - continued

The above total represents freehold investment property, which was valued on an open market basis by a valuer who is a member of the Royal Institute of Chartered Surveyors (RICS) in November 2018. In the opinion of the director, the value of the properties have not increased since that date. If the freehold investment property had not been revalued it would have been included at a historical cost of £1,890,000 (2023: £1,890,000).

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£ £
Other debtors 9,445,933 8,973,661

7. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£ £
Other loans 2,441,742 2,083,023

The loan is secured by a Legal Charge over land at West Park, Faverdale, Darlington.

8. RESERVES
Fair value
reserve
£
At 1 February 2024
and 31 January 2025 202,500

9. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £38,500 (2024: £60,500).