| REGISTERED NUMBER: |
| ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 |
| FOR |
| BUSSEY & ARMSTRONG PROJECTS LIMITED |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| BANKERS: |
| 2nd Floor |
| Lakeside House |
| Kingfisher Way |
| Stockton-on-Tees |
| TS18 3NB |
| SOLICITORS: |
| 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 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks and work in progress |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the director and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery etc | - |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 February 2024 |
| and 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 February 2024 |
| and 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 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 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Other loans |
| 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 |
| 9. | OTHER FINANCIAL COMMITMENTS |
| The company has future operating lease commitments of £38,500 (2024: £60,500). |