The Bush Consultancy Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02417457 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2023

for

THE BUSH CONSULTANCY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R A Davis

M J Kendall

T Hussain

T Partridge

J James

SECRETARY:

M J Kendall

REGISTERED OFFICE:

5:20 Paintworks

Bath Road

Arnos Vale

Bristol

BS4 3EH

REGISTERED NUMBER:

02417457 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

26,672

46,008

CURRENT ASSETS

Work in progress

5

49,712

121,435

Debtors

6

499,937

570,928

Cash at bank and in hand

15,682

42,582

565,331

734,945

CREDITORS

Amounts falling due within one year

7

(374,435

)

(333,894

)

NET CURRENT ASSETS

190,896

401,051

TOTAL ASSETS LESS CURRENT LIABILITIES

217,568

447,059

CREDITORS

Amounts falling due after more than one year

8

(50,388

)

(65,524

)

PROVISIONS FOR LIABILITIES

(6,668

)

(8,742

)

NET ASSETS

160,512

372,793

CAPITAL AND RESERVES

Called up share capital

36,666

36,666

Capital redemption reserve

18,334

18,334

Retained earnings

105,512

317,793

SHAREHOLDERS' FUNDS

160,512

372,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 22 December 2023 and were signed on its behalf by:

R A Davis - Director

M J Kendall - Director

1.	COMPANY INFORMATION

The Bush Consultancy 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.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

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

-

15% - 33% on cost

Work in progress

Work in progress is valued at the lower of cost and net realisable value.

Turnover on long-term contracts is recognised by reference to the stage of completion. The stage of completion of a contract is determined by reference to the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs relating to a discrete stage of that contract. An estimate of the profit attributable to work completed is recognised once the outcome of the contract can be assessed with reasonable certainty.

Cash and cash equivalents

Cash and cash equivalents 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 current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from related undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to related undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. The assets of the scheme are held separately from those of the company in an independently administered fund.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 July 2022

83,247

Additions

2,097

At 30 June 2023

85,344

DEPRECIATION

At 1 July 2022

37,239

Charge for year

21,433

At 30 June 2023

58,672

NET BOOK VALUE

At 30 June 2023

26,672

At 30 June 2022

46,008

5.	WORK IN PROGRESS

2023

2022

£

£

Work-in-progress

49,712

121,435

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

336,657

322,458

Other debtors

19,213

19,122

Tax

-

53,258

Prepayments and accrued income

144,067

176,090

499,937

570,928

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

14,780

27,355

Trade creditors

189,082

186,121

Social security and other taxes

111,617

103,101

Other creditors

54,797

13,197

Directors' current accounts

1,046

720

Accruals and deferred income

3,113

3,400

374,435

333,894

Included in others creditors is a balance of £3,204 (2022 - £3,604) that had been deducted from salaries but not paid over to the pension fund administrators. This was paid shortly after the year-end.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - 1-2 years

15,219

14,780

Bank loans - 2-5 years

25,600

35,319

Bank loans - > 5 years

9,569

15,425

50,388

65,524

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - > 5 years

9,569

15,425

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank overdraft

-

13,008

Bank loans

65,168

79,871

65,168

92,879

NatWest bank hold fixed and floating charges over the trade and assets of the company.

10.	RELATED PARTY DISCLOSURES

At the year end date the company was owed £18,248 (2022 - £18,222) by Canopy Projects Limited. No interest is being charged on this loan.

During the year the company paid rent charges of £51,150 (2022 - £48,500) to Canopy Projects

Limited, a company of which R A Davis and M J Kendall are also directors.

During the year services charges in the sum of £7,136 (2022 - £8,433) were recharged to the company by Canopy Projects Limited.