Two years ago we went to Blackpool EGNH on a nice clear day, 10knt winds so not too bumpy. For a half hour flight in a PA28, I taxied to runway 25 and waited for a 150/172 to do a touch-n-go on runway 28, I took off and headed out to sea, turning right (northish), my children and better half were in the back enjoying the view. We turned again to the right the instructor showed me how to slow the plane down and let me do it. He radioed the tower and we cleared to land, we were just about to turn onto final when I looked to my left I looked at a 737!!! I told the instructor what I saw just as the tower told the 737 to go around my instructor took control banked hard right and away radioing the tower telling them what he he'd done. The 737 landed, I then took control did a 360 turn to wait for the turbulance to go the tower told us we were number one for landing, I turned on to final lining up with the runway, just going through 1000ft a plane appears in front and below us, lands, gets a b#ll#cking from the tower, takes off, then I landed for the first time, the instructor did the rudder work!!! I forgot (only the third time up) Wendy and the kids didn't know about the 737 until me and the instructor were talking about it on the to the club house.
Sorry it's so long but I thought you might like it!
Remind me not to go near Blackpool any time soon. 
It can be used as a mild expletive (oh b******s) or a substitute for nonsense - as in a load of of b******s. In the context Zeberdee used it in this thread it means a telling off. I'm sure you're delighted I explained that. 