REGISTERED NUMBER: SC236144 (Scotland)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 September 2016

for

A & I Coaches Limited

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

D Sedge

J Leal

REGISTERED OFFICE:

Unit 19 Spurryhillock Industrial Estate

Broomhill Road

Stonehaven

AB39 2NH

REGISTERED NUMBER:

SC236144 (Scotland)

ACCOUNTANTS:

MacDonald Accountancy Services

12 Allardice Street

Stonehaven

Aberdeenshire

AB39 2BQ

The directors present their report with the financial statements of the company for the year ended 30 September 2016.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Coach hire, taxi hire and operating a taxi

repair centre.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2015 to the date of this

report.

D Sedge

J Leal

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

D Sedge - Director

19 December 2016

TURNOVER

779,089

698,686

Cost of sales

194,571

214,206

GROSS PROFIT

584,518

484,480

Administrative expenses

556,864

454,155

OPERATING PROFIT

2

27,654

30,325

Interest receivable and similar income

1

-

27,655

30,325

Interest payable and similar charges

6,350

4,775

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

21,305

25,550

Tax on profit on ordinary activities

3

-

-

PROFIT FOR THE FINANCIAL YEAR

21,305

25,550

FIXED ASSETS

Intangible assets

5

54,000

63,000

Tangible assets

6

138,598

143,586

192,598

206,586

CURRENT ASSETS

Stocks

3,212

2,855

Debtors

7

153,411

115,460

Cash in hand

20

97

156,643

118,412

CREDITORS

Amounts falling due within one year

8

186,083

127,032

NET CURRENT LIABILITIES

(29,440

)

(8,620

)

TOTAL ASSETS LESS CURRENT LIABILITIES

163,158

197,966

CREDITORS

Amounts falling due after more than one year

9

71,185

97,298

NET ASSETS

91,973

100,668

CAPITAL AND RESERVES

Called up share capital

10

90,000

90,000

Profit and loss account

11

1,973

10,668

SHAREHOLDERS' FUNDS

91,973

100,668

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 19 December 2016 and were signed on its behalf by:

D Sedge - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents fees invoiced to customers during the year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business is being amortised evenly

over its estimated life of 20 years.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account in the period to which they relate.

2.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.9.16

30.9.15

£

£

Depreciation - owned assets

48,884

27,027

Profit on disposal of fixed assets

-

(6,889

)

Goodwill amortisation

9,000

9,000

Pension costs

2,758

2,003

Directors' remuneration and other benefits etc

32,602

24,838

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 30 September 2016 nor for the

year ended 30 September 2015.

4.

DIVIDENDS

30.9.16

30.9.15

£

£

Ordinary shares of £1 each

Final

30,000

24,000

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2015

and 30 September 2016

117,000

AMORTISATION

At 1 October 2015

54,000

Charge for year

9,000

At 30 September 2016

63,000

NET BOOK VALUE

At 30 September 2016

54,000

At 30 September 2015

63,000

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 October 2015

29,570

341,125

370,695

Additions

2,746

41,150

43,896

Disposals

-

(10,987

)

(10,987

)

At 30 September 2016

32,316

371,288

403,604

DEPRECIATION

At 1 October 2015

19,052

208,057

227,109

Charge for year

3,093

45,791

48,884

Eliminated on disposal

-

(10,987

)

(10,987

)

At 30 September 2016

22,145

242,861

265,006

NET BOOK VALUE

At 30 September 2016

10,171

128,427

138,598

At 30 September 2015

10,518

133,068

143,586

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.16

30.9.15

£

£

Trade debtors

101,459

114,545

Other debtors

51,952

915

153,411

115,460

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.16

30.9.15

£

£

Bank loans and overdrafts

54,322

40,329

Hire purchase contracts

46,305

33,478

Trade creditors

28,642

22,442

Taxation and social security

27,698

13,832

Other creditors

29,116

16,951

186,083

127,032

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.16

30.9.15

£

£

Bank loans

1,057

9,356

Hire purchase contracts

70,128

87,942

71,185

97,298

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.16

30.9.15

value:

£

£

90,000

Ordinary

£1

90,000

90,000

11.

RESERVES

Profit

and loss

account

£

At 1 October 2015

10,668

Profit for the year

21,305

Dividends

(30,000

)

At 30 September 2016

1,973