REGISTERED NUMBER: SC236144 (Scotland)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 September 2018

for

A & I Coaches Ltd.

Page

Company Information

1

Report of the Directors

2

Income Statement

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 2018.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2017 to the date of this

report.

D Sedge

J Leal

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

companies.

ON BEHALF OF THE BOARD:

D Sedge - Director

6 December 2018

TURNOVER

752,448

717,722

Cost of sales

205,070

179,460

GROSS PROFIT

547,378

538,262

Administrative expenses

518,054

492,187

OPERATING PROFIT

4

29,324

46,075

Interest receivable and similar income

7

-

29,331

46,075

Interest payable and similar expenses

6,613

7,026

PROFIT BEFORE TAXATION

22,718

39,049

Tax on profit

9,583

9,429

PROFIT FOR THE FINANCIAL YEAR

13,135

29,620

FIXED ASSETS

Intangible assets

5

36,000

45,000

Tangible assets

6

63,657

86,602

99,657

131,602

CURRENT ASSETS

Stocks

1,635

1,980

Debtors

7

157,572

147,424

Cash in hand

25

-

159,232

149,404

CREDITORS

Amounts falling due within one year

8

151,437

160,806

NET CURRENT ASSETS/(LIABILITIES)

7,795

(11,402

)

TOTAL ASSETS LESS CURRENT LIABILITIES

107,452

120,200

CREDITORS

Amounts falling due after more than one year

9

12,724

28,607

NET ASSETS

94,728

91,593

CAPITAL AND RESERVES

Called up share capital

90,000

90,000

Retained earnings

4,728

1,593

SHAREHOLDERS' FUNDS

94,728

91,593

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

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

The financial statements were approved by the Board of Directors on 6 December 2018 and were signed on its behalf by:

D Sedge - Director

1.	STATUTORY INFORMATION

A & I Coaches Ltd. 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 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.

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

-

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.

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.

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 10 (2017 - 10 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.9.18

30.9.17

£

£

Depreciation - owned assets

45,679

51,162

Goodwill amortisation

9,000

9,000

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2017

and 30 September 2018

117,000

AMORTISATION

At 1 October 2017

72,000

Charge for year

9,000

At 30 September 2018

81,000

NET BOOK VALUE

At 30 September 2018

36,000

At 30 September 2017

45,000

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 October 2017

32,316

318,761

351,077

Additions

3,334

19,400

22,734

At 30 September 2018

35,650

338,161

373,811

DEPRECIATION

At 1 October 2017

25,650

238,825

264,475

Charge for year

3,730

41,949

45,679

At 30 September 2018

29,380

280,774

310,154

NET BOOK VALUE

At 30 September 2018

6,270

57,387

63,657

At 30 September 2017

6,666

79,936

86,602

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Trade debtors

95,284

81,726

Other debtors

62,288

65,698

157,572

147,424

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Bank loans and overdrafts

53,201

57,328

Hire purchase contracts

35,214

41,521

Trade creditors

26,128

28,693

Taxation and social security

34,939

31,306

Other creditors

1,955

1,958

151,437

160,806

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.18

30.9.17

£

£

Hire purchase contracts

12,724

28,607