Unaudited Financial Statements for the Year Ended 30 April 2018

for

AAA Coaches Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J T Renton

Mrs A V Renton

REGISTERED OFFICE:

2 Melville Street

Falkirk

FK1 1HZ

REGISTERED NUMBER:

SC182581 (Scotland)

ACCOUNTANTS:

Ian Macfarlane & Co.

Chartered Accountants

2 Melville Street

Falkirk

FK1 1HZ

FIXED ASSETS

Tangible assets

4

4,993,574

5,040,897

CURRENT ASSETS

Stocks

7,300

7,300

Debtors

5

877,177

1,167,679

Cash at bank and in hand

110,684

57,611

995,161

1,232,590

CREDITORS

Amounts falling due within one year

6

862,284

910,081

NET CURRENT ASSETS

132,877

322,509

TOTAL ASSETS LESS CURRENT LIABILITIES

5,126,451

5,363,406

CREDITORS

Amounts falling due after more than one year

7

(1,054,953

)

(1,514,780

)

PROVISIONS FOR LIABILITIES

(348,898

)

(359,873

)

NET ASSETS

3,722,600

3,488,753

CAPITAL AND RESERVES

Called up share capital

9

2

2

Revaluation reserve

10

21,128

21,128

Retained earnings

3,701,470

3,467,623

SHAREHOLDERS' FUNDS

3,722,600

3,488,753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 September 2018 and were signed on its behalf by:

J T Renton - Director

1.	STATUTORY INFORMATION

AAA Coaches Limited is a private company, limited by shares , registered in Scotland. The company's registered

number and registered office address can be found on the Company Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on reducing balance and 20% on reducing balance

The directors have chosen not to depreciate heritable property and believe this decision will have no material

effect on the accounts.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or 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. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2017 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2017

1,101,634

5,771,635

6,873,269

Additions

-

1,757,109

1,757,109

Disposals

-

(1,609,981

)

(1,609,981

)

At 30 April 2018

1,101,634

5,918,763

7,020,397

DEPRECIATION

At 1 May 2017

26,257

1,806,115

1,832,372

Charge for year

-

697,246

697,246

Eliminated on disposal

-

(502,795

)

(502,795

)

At 30 April 2018

26,257

2,000,566

2,026,823

NET BOOK VALUE

At 30 April 2018

1,075,377

3,918,197

4,993,574

At 30 April 2017

1,075,377

3,965,520

5,040,897

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 May 2017

2,728,615

Additions

795,000

Disposals

(762,000

)

Transfer to ownership

(347,615

)

At 30 April 2018

2,414,000

DEPRECIATION

At 1 May 2017

489,944

Charge for year

285,136

Eliminated on disposal

(146,213

)

Transfer to ownership

(17,908

)

At 30 April 2018

610,959

NET BOOK VALUE

At 30 April 2018

1,803,041

At 30 April 2017

2,238,671

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

357,176

461,031

Other debtors

520,001

706,648

877,177

1,167,679

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Bank loans and overdrafts

200,824

157,496

Hire purchase contracts

369,654

409,491

Trade creditors

75,775

94,979

Taxation and social security

146,122

154,228

Other creditors

69,909

93,887

862,284

910,081

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.18

30.4.17

£

£

Hire purchase contracts

1,049,660

1,331,958

Other creditors

5,293

182,822

1,054,953

1,514,780

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.18

30.4.17

£

£

Bank overdrafts

200,824

157,496

The company's bank overdraft is secured with a standard security over the company's freehold property and with

a bond and floating charge over the assets of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.18

30.4.17

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Revaluation

reserve

£

At 1 May 2017

and 30 April 2018

21,128

11.	RELATED PARTY DISCLOSURES

The company was under the control of it's two directors and shareholders Mr J. Renton and Mrs A. Renton

during the year.

The company was due Mr and Mrs Renton £6,.984 (2017 - £82,844) at the year end.

Mr and Mrs Renton are also directors in AAA Estates (Edinburgh) Ltd and A Johnston Properties Ltd. The

company is due £487,610 (2017 - £483,396) and £12,273 (2017 - £201,555) respectively from these related

companies at the year end.

During the year, the company sold goods and services amounting to £127,900 (2017 - £251,491) to LA Travel

during the year and purchased goods and services amounting to £61,667 (2017 - £459,705) from LA Travel.

LA Travel is a business owned and operated by Mrs L Sutherland a daughter of the directors. At the year end the

business was owed £5,293 (2017 - £182,822) by LA Travel. £5,293 (2017 - £182,822) of which will be due

after more than one year as disclosed under Other Creditors in Notes 7 & 8.

The company was due £5,500 from LA Travel (Edinburgh) Ltd, a company owned and controlled by Mrs L

Sutherland.