Company Registration No. 06643919 (England and Wales)
Busby & Busby Limited
Unaudited accounts
for the year ended 31 July 2020
Busby & Busby Limited
Unaudited accounts
Contents
Busby & Busby Limited
Company Information
for the year ended 31 July 2020
Company Number
06643919 (England and Wales)
Registered Office
The Old Hemp Store
North Mills
Bridport
Dorset
DT6 3BE
Accountants
Simon John Christopher Ltd
1st Floor Suite, Drapers House
Market Place
Sturminster Newton
Dorset
DT10 1AS
Busby & Busby Limited
Statement of financial position
as at
31 July 2020
Tangible assets
3,486,307
3,528,595
Cash at bank and in hand
180,809
54,415
Creditors: amounts falling due within one year
(202,442)
(183,803)
Net current assets/(liabilities)
18,118
(111,214)
Total assets less current liabilities
3,504,425
3,417,381
Creditors: amounts falling due after more than one year
(3,283,830)
(3,310,482)
Provisions for liabilities
Deferred tax
(6,983)
(78)
Net assets
213,612
106,821
Called up share capital
1
1
Profit and loss account
213,611
106,820
Shareholders' funds
213,612
106,821
For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 December 2020 and were signed on its behalf by
Mr H B J Busby
Director
Company Registration No. 06643919
Busby & Busby Limited
Notes to the Accounts
for the year ended 31 July 2020
Busby & Busby Limited is a private company, limited by shares, registered in England and Wales, registration number 06643919. The registered office is The Old Hemp Store, North Mills, Bridport, Dorset, DT6 3BE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
The rate of 2% - on cost
Plant & machinery
The rate of 25% per annum - reducing balance basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Busby & Busby Limited
Notes to the Accounts
for the year ended 31 July 2020
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 August 2019
3,655,981
10,912
3,666,893
Additions
-
43,071
43,071
At 31 July 2020
3,655,981
53,983
3,709,964
At 1 August 2019
133,317
4,981
138,298
Charge for the year
73,108
12,251
85,359
At 31 July 2020
206,425
17,232
223,657
At 31 July 2020
3,449,556
36,751
3,486,307
At 31 July 2019
3,522,664
5,931
3,528,595
Trade debtors
23,084
7,229
Accrued income and prepayments
16,667
10,745
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
93,006
139,945
Trade creditors
29,287
19,510
Taxes and social security
56,143
26,300
Other creditors
21,178
25,356
Loans from directors
2,828
(27,308)
8
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
3,283,830
3,310,482
9
Average number of employees
During the year the average number of employees was 2 (2019: 3).