Abbey Coaches (Midlands) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05327000 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2017

for

ABBEY COACHES (MIDLANDS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Malkiat Ram

SECRETARY:

Mrs Satya Kumari

REGISTERED OFFICE:

86 Antrobus Road

Handsworth

Birmingham

West Midlands

B21 9NY

REGISTERED NUMBER:

05327000 (England and Wales)

ACCOUNTANTS:

Brindleys Limited

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

69,390

86,036

69,390

86,036

CURRENT ASSETS

Debtors

6

18,775

24,285

Cash in hand

9,800

8,104

28,575

32,389

CREDITORS

Amounts falling due within one year

7

78,737

64,143

NET CURRENT LIABILITIES

(50,162

)

(31,754

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

19,228

54,282

CREDITORS

Amounts falling due after more than
one year

8

7,673

35,611

NET ASSETS

11,555

18,671

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

11,553

18,669

SHAREHOLDERS' FUNDS

11,555

18,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 20 November 2017 and were signed by:

Mr Malkiat Ram - Director

1.	STATUTORY INFORMATION

Abbey Coaches (Midlands) 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2016

and 28 February 2017

20,000

AMORTISATION

At 1 March 2016

and 28 February 2017

20,000

NET BOOK VALUE

At 28 February 2017

-

At 29 February 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 March 2016

6,149

119,000

125,149

Additions

-

7,500

Disposals

-

(14,000

)

(14,000

)

At 28 February 2017

6,149

112,500

118,649

DEPRECIATION

At 1 March 2016

1,343

37,770

39,113

Charge for year

721

11,525

12,246

Eliminated on disposal

-

(2,100

)

(2,100

)

At 28 February 2017

2,064

47,195

49,259

NET BOOK VALUE

At 28 February 2017

4,085

65,305

69,390

At 29 February 2016

4,806

81,230

86,036

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

6,742

14,285

Other debtors

10,900

10,000

VAT

1,133

-

18,775

24,285

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Bank loans and overdrafts

23,404

26,428

Hire purchase contracts

22,291

22,986

Trade creditors

6,818

9,301

Tax

3,799

2,380

Social security and other taxes

1,402

173

VAT

-

40

Directors' current accounts

18,024

833

Accrued expenses

2,999

2,002

78,737

64,143

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2017

2016

£

Hire purchase contracts

7,673

35,611

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the following transactions took place with the director:

Remuneration of £8,300 (2016: £7,800) was paid to Mr Malkiat Ram.

Dividends of £20,000 (2016: £20,000) were paid to the shareholders in which the director is

also shareholder of the company.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Malkiat Ram.