Year Ended
Registration number:
A B Coaches Limited
Contents
|
Balance Sheet |
|
|
Notes to the Financial Statements |
A B Coaches Limited
Balance Sheet
31 March 2018
|
Note |
2018 |
2017 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Profit and loss account |
|
|
|
|
Total equity |
|
|
|
Page 1 |
A B Coaches Limited
Balance Sheet
31 March 2018
For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
|
......................................... |
......................................... |
Company Registration Number: 03303158
|
Page 2 |
A B Coaches Limited
Notes to the Financial Statements
Year Ended 31 March 2018
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Wills road
Totnes Industrial Estate
Totnes
Devon
TQ9 5XN
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that, as disclosed in the accounting policies, certain items are shown at fair value.
Revenue recognition
Turnover represents the value of services provided during the period, net of vat and trade discounts.
Turnover is recognised when the service has been provided.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
|
Page 3 |
A B Coaches Limited
Notes to the Financial Statements
Year Ended 31 March 2018
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated at cost, less any subsequent accumulated depreciation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Office equipment |
25% straight line |
|
Motor vehicles |
25% reducing balance |
|
Tools and equipment |
15% reducing balance |
Stocks
Stocks are stated at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
|
Page 4 |
A B Coaches Limited
Notes to the Financial Statements
Year Ended 31 March 2018
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Hire purchase and finance leases; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
|
Intangible assets |
|
Goodwill |
|
|
Cost or valuation |
|
|
At 1 April 2017 |
|
|
At 31 March 2018 |
|
|
Amortisation |
|
|
At 1 April 2017 |
|
|
At 31 March 2018 |
|
|
Carrying amount |
|
|
At 31 March 2018 |
- |
|
Page 5 |
A B Coaches Limited
Notes to the Financial Statements
Year Ended 31 March 2018
|
Tangible assets |
|
Office equipment |
Motor vehicles |
Tools and equipment |
Total |
|
|
Cost or valuation |
||||
|
At 1 April 2017 |
|
|
|
|
|
Additions |
|
|
- |
|
|
Disposals |
( |
( |
- |
( |
|
At 31 March 2018 |
|
|
|
|
|
Depreciation |
||||
|
At 1 April 2017 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
( |
( |
- |
( |
|
At 31 March 2018 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 March 2018 |
|
|
|
|
|
At 31 March 2017 |
|
|
|
|
|
Stocks |
|
2018 |
2017 |
|
|
Other inventories |
|
|
|
Debtors |
|
Note |
2018 |
2017 |
|
|
Trade debtors |
|
|
|
|
Amounts due from group undertakings |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments |
- |
|
|
|
|
|
|
Page 6 |
A B Coaches Limited
Notes to the Financial Statements
Year Ended 31 March 2018
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2018 |
2017 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Corporation tax |
- |
14,812 |
|
|
Social security and other taxes |
|
|
|
|
Outstanding defined contribution pension costs |
|
- |
|
|
Accrued expenses |
|
|
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Loans and borrowings |
|
2018 |
2017 |
|
|
Loans and borrowings due after one year |
||
|
Hire purchase and finance lease liabilities |
|
|
|
2018 |
2017 |
|
|
Current loans and borrowings |
||
|
Bank overdrafts |
|
|
|
Hire purchase and finance lease liabilities |
|
|
|
|
|
|
Other borrowings
Hire purchase and finance lease creditors are secured on the assets to which they relate.
|
Page 7 |
A B Coaches Limited
Notes to the Financial Statements
Year Ended 31 March 2018
|
Share capital |
Allotted, called up and fully paid shares
|
2018 |
2017 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100 |
|
100 |
|
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
|
Related party transactions |
Summary of transactions with parent
|
Parent and ultimate parent undertaking |
The ultimate controlling party is
|
Page 8 |