Busch Properties Limited
Busch Properties Limited
Registered number: 10078420
Financial Statements
For The Year Ended
31 March 2020
Busch Properties Limited
Financial Statements
For The Year Ended
31 March 2020
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Busch Properties Limited
Balance Sheet
As at
31 March 2020
Balance Sheet
Registered number:
10078420
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 178,956 | 117,859 | |||
Page 1
Busch Properties Limited
Balance Sheet (continued)
As at
31 March 2020
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their 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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Busch Properties Limited
Notes to the Financial Statements
For The Year Ended
31 March 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises rent received.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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1.4.
Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties are included at thevlower of cost and market value.
1.5.
Taxation
Corporation tax expense represents the the tax currently payable.
There is no provision for deferred tax.
2.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2019: 2)
3.
Tangible Assets
| Investment Properties | |
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| £ | |
| Cost | |
| As at
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| As at
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| Net Book Value | |
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4.
Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
5.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Corporation tax |
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| Creditors and accruals |
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| Directors' loan accounts |
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| Amounts owed to parent undertaking |
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| Amounts owed to associates |
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Page 3
Busch Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
6.
Share Capital
| 2020 | 2019 | ||
|---|---|---|---|
| Allotted, Called up and fully paid |
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7.
Directors Advances, Credits and Guarantees
The Directors' loan account represents amounts due to the Directors and their close family and is unsecured, interest free and repayable on demand.
8.
Ultimate Controlling Party
The company's ultimate controlling party is Mr Charles New by virtue of his and his close family's ownership of 100% of the issued share capital in Schuss Property Limited which owns 75% of the issued share capital in Busch Properties Limited
9.
General Information
Busch Properties Limited
Registered number
10078420
is a limited by shares company incorporated in England & Wales. The Registered Office is Buckshaw Farm, Holwell, Sherborne, DT9 5JZ.
Page 4