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REGISTERED NUMBER: 05399807 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2018

for

Nefyn Coaches Limited

Nefyn Coaches Limited (Registered number: 05399807)






Contents of the Financial Statements
for the Year Ended 31 March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Nefyn Coaches Limited

Company Information
for the Year Ended 31 March 2018







DIRECTORS: R G Owen
Mrs M A Owen
A G Owen





SECRETARY: Mrs M A Owen





REGISTERED OFFICE: 1 Thomas Buildings
New Street
Pwllheli
Gwynedd
LL53 5HH





REGISTERED NUMBER: 05399807 (England and Wales)





ACCOUNTANTS: Gwyn Thomas and Co Limited
1 Thomas Buildings
New Street
Pwllheli
Gwynedd
LL53 5HH

Nefyn Coaches Limited (Registered number: 05399807)

Balance Sheet
31 March 2018

31.3.18 31.3.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 130,000 155,000
Tangible assets 5 355,222 396,626
Investment property 6 240,000 244,551
725,222 796,177

CURRENT ASSETS
Stocks 3,346 3,500
Debtors 7 63,085 107,292
Cash at bank 908,303 657,372
974,734 768,164
CREDITORS
Amounts falling due within one year 8 142,203 134,804
NET CURRENT ASSETS 832,531 633,360
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,557,753

1,429,537

PROVISIONS FOR LIABILITIES 23,148 31,434
NET ASSETS 1,534,605 1,398,103

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 1,534,455 1,397,953
SHAREHOLDERS' FUNDS 1,534,605 1,398,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Nefyn Coaches Limited (Registered number: 05399807)

Balance Sheet - continued
31 March 2018


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 12 November 2018 and were signed on its behalf
by:





R G Owen - Director


Nefyn Coaches Limited (Registered number: 05399807)

Notes to the Financial Statements
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

Nefyn Coaches 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 as modified by the revaluation of certain assets.

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 2009, 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 - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

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.

Nefyn Coaches Limited (Registered number: 05399807)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2017 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2017
and 31 March 2018 250,000
AMORTISATION
At 1 April 2017 95,000
Charge for year 25,000
At 31 March 2018 120,000
NET BOOK VALUE
At 31 March 2018 130,000
At 31 March 2017 155,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2017 247,700 609,632 857,332
Additions - 12,600 12,600
Disposals - (62,000 ) (62,000 )
At 31 March 2018 247,700 560,232 807,932
DEPRECIATION
At 1 April 2017 8,194 452,512 460,706
Charge for year 5,511 40,217 45,728
Eliminated on disposal - (53,724 ) (53,724 )
At 31 March 2018 13,705 439,005 452,710
NET BOOK VALUE
At 31 March 2018 233,995 121,227 355,222
At 31 March 2017 239,506 157,120 396,626

Nefyn Coaches Limited (Registered number: 05399807)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2017 244,551
Revaluations (4,551 )
At 31 March 2018 240,000
NET BOOK VALUE
At 31 March 2018 240,000
At 31 March 2017 244,551

Fair value at 31 March 2018 is represented by:

£   
Valuation in 2018 (4,551 )
Cost 244,551
240,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.3.18 31.3.17
£    £   
Cost 244,551 -

The investment property was valued on an open market basis on 31 March 2018 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 63,085 105,517
Other debtors - 1,775
63,085 107,292

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Bank loans and overdrafts 5,858 7,380
Trade creditors 42,901 31,160
Taxation and social security 72,177 66,875
Other creditors 21,267 29,389
142,203 134,804

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £81,000 were paid to the directors .

The company operates from premises owned by Mr A.G.Owen. No rent is charged for the use of the premises.