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Company No: 03831534 (England and Wales)

BUSY CORPORATION LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BUSY CORPORATION LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BUSY CORPORATION LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
BUSY CORPORATION LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS Nina Bosheva Stoyanova
Dimitar Stoyanov
SECRETARY Nina Bosheva Stoyanova
REGISTERED OFFICE Unit 8 30-32 Knowsley Street
Manchester
M8 8HQ
United Kingdom
COMPANY NUMBER 03831534 (England and Wales)
ACCOUNTANT Jones & Co of York Limited
Wellington House
Aviator Court
York
YO30 4UZ
United Kingdom
BUSY CORPORATION LIMITED

BALANCE SHEET

As at 31 December 2024
BUSY CORPORATION LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 319,194 319,720
319,194 319,720
Current assets
Stocks 4 64,642 51,225
Cash at bank and in hand 5 252 2,322
64,894 53,547
Creditors: amounts falling due within one year 6 ( 219,702) ( 191,103)
Net current liabilities (154,808) (137,556)
Total assets less current liabilities 164,386 182,164
Creditors: amounts falling due after more than one year 7 ( 65,254) ( 79,807)
Net assets 99,132 102,357
Capital and reserves
Called-up share capital 8 10,000 10,000
Profit and loss account 89,132 92,357
Total shareholders' funds 99,132 102,357

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

Directors' responsibilities:

The financial statements of Busy Corporation Limited (registered number: 03831534) were approved and authorised for issue by the Board of Directors on 31 July 2025. They were signed on its behalf by:

Nina Bosheva Stoyanova
Director
BUSY CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BUSY CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Busy Corporation Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 8 30-32 Knowsley Street, Manchester, M8 8HQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Land and buildings Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 January 2024 319,194 10,121 2,417 331,732
At 31 December 2024 319,194 10,121 2,417 331,732
Accumulated depreciation
At 01 January 2024 0 10,121 1,891 12,012
Charge for the financial year 0 0 526 526
At 31 December 2024 0 10,121 2,417 12,538
Net book value
At 31 December 2024 319,194 0 0 319,194
At 31 December 2023 319,194 0 526 319,720

4. Stocks

2024 2023
£ £
Stocks 64,642 51,225

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 252 2,322
Less: Bank overdrafts ( 24,955) ( 24,051)
(24,703) (21,729)

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 49,174 46,577
Amounts owed to directors 146,563 119,004
Other loans 5,411 4,164
Accruals 2,630 2,445
Other taxation and social security 7,372 8,985
Other creditors 8,552 9,928
219,702 191,103

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 65,254 79,807

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000

9. Contingencies

Contingent liabilities

Barclays bank currently hold a legal charge on the commercial property owned by the limited company.