REGISTERED NUMBER: 08815361 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2025

for

Kenneth Bush Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Intangible assets

5

33,437

66,874

Tangible assets

6

25,065

22,965

58,502

89,839

Current assets

Debtors

7

559,242

732,658

Investments

8

3,175

3,175

Cash at bank and in hand

60,757

9,591

623,174

745,424

Creditors

Amounts falling due within one year

9

(572,773

)

(791,939

)

Net current assets/(liabilities)

50,401

(46,515

)

Total assets less current liabilities

108,903

43,324

Provisions for liabilities

(14,600

)

(22,500

)

Net assets

94,303

20,824

Capital and reserves

Called up share capital

700

700

Retained earnings

12

93,603

20,124

94,303

20,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

Mr P A J Croker - Director

1.	Statutory information

Kenneth Bush Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08815361

Registered office:

11 New Conduit Street

King's Lynn

Norfolk

PE30

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

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant effect upon the figures reported in the financial statements are in respect of the rates applied for amortisation and depreciation, as described below.

Turnover

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

Revenue arising from service contracts is accounted for under the "stage of completion" method. If the ultimate profitability of the contract can be assessed with reasonable certainty, having made a prudent allowance for future costs etc, profit is recognised in proportion to the contract work completed at the balance sheet date. Immediate provision is made for foreseeable losses.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten 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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

20% p.a. reducing balance

Computer equipment

-

25% p.a. reducing balance

Tangible fixed assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 balance sheet date.

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

De-recognition of client money

Client money and amounts due to clients are excluded from these accounts. Client money held at 30 April 2025 amounted to £10,113,639 (2024: £7,987,827).

4.	Employees and directors

The average number of employees during the year was 49 (2024 - 48 ) .

5.	Intangible fixed assets

Computer

Goodwill

software

Totals

£

£

£

Cost

At 1 May 2024

and 30 April 2025

1,250,000

167,184

1,417,184

Amortisation

At 1 May 2024

1,250,000

100,310

1,350,310

Amortisation for year

-

33,437

33,437

At 30 April 2025

1,250,000

133,747

1,383,747

Net book value

At 30 April 2025

-

33,437

33,437

At 30 April 2024

-

66,874

66,874

6.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 May 2024

31,894

73,303

105,197

Additions

6,936

2,553

9,489

At 30 April 2025

38,830

75,856

114,686

Depreciation

At 1 May 2024

24,402

57,830

82,232

Charge for year

2,887

4,502

7,389

At 30 April 2025

27,289

62,332

89,621

Net book value

At 30 April 2025

11,541

13,524

25,065

At 30 April 2024

7,492

15,473

22,965

7.

Debtors: amounts falling due within one year

30.4.25

30.4.24

£

£

Trade debtors

443,130

603,585

Other debtors

116,112

129,073

559,242

732,658

8.	Current asset investments

30.4.25

30.4.24

£

£

Other

3,175

3,175

9.

Creditors: amounts falling due within one year

30.4.25

30.4.24

£

£

Bank loans and overdrafts

224,685

403,776

Finance leases (see note 10)

-

61,301

Trade creditors

7,296

19,232

Taxation and social security

184,948

146,619

Other creditors

155,844

161,011

572,773

791,939

10.	Leasing agreements

Minimum lease payments fall due as follows:

Finance leases

30.4.25

30.4.24

£

£

Net obligations repayable:

Within one year

-

61,301

Non-cancellable

operating leases

30.4.25

30.4.24

£

£

Within one year

95,000

99,766

Between one and five years

380,000

380,000

In more than five years

882,917

977,917

1,357,917

1,457,683

11.	Secured debts

The following secured debts are included within creditors:

30.4.25

30.4.24

£

£

Bank overdrafts

167,936

332,660

Bank overdrafts falling due within one year are secured via a debenture on the bank's standard form, together with a charge over property jointly owned by certain of the directors.

12.

Reserves

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.