Registered number
05430234
Crest Coaches Limited
Filleted Accounts
30 April 2022
Crest Coaches Limited
Registered number: 05430234
Balance Sheet
as at 30 April 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 13,200 14,400
Tangible assets 4 247,953 331,875
261,153 346,275
Current assets
Debtors 5 10,051 36,901
Cash at bank and in hand 91,238 112,280
101,289 149,181
Creditors: amounts falling due within one year 6 (144,455) (148,035)
Net current (liabilities)/assets (43,166) 1,146
Total assets less current liabilities 217,987 347,421
Creditors: amounts falling due after more than one year 7 (116,055) (220,709)
Net assets 101,932 126,712
Capital and reserves
Called up share capital 100 100
Profit and loss account 101,832 126,612
Shareholders' funds 101,932 126,712
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J D Obrien
Director
Approved by the board on 1 September 2022
Crest Coaches Limited
Notes to the Accounts
for the year ended 30 April 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery on 25% Reducing balance
Fixtures, fittings, tools and equipment on 25% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 8 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2021 30,000
At 30 April 2022 30,000
Amortisation
At 1 May 2021 15,600
Provided during the year 1,200
At 30 April 2022 16,800
Net book value
At 30 April 2022 13,200
At 30 April 2021 14,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2021 652,624
At 30 April 2022 652,624
Depreciation
At 1 May 2021 320,749
Charge for the year 83,922
At 30 April 2022 404,671
Net book value
At 30 April 2022 247,953
At 30 April 2021 331,875
5 Debtors 2022 2021
£ £
Trade debtors 4,150 -
Other debtors 5,901 36,901
10,051 36,901
6 Creditors: amounts falling due within one year 2022 2021
£ £
Obligations under finance lease and hire purchase contracts 97,201 94,594
Other taxes and social security costs 2,803 2,895
Other creditors 44,451 50,546
144,455 148,035
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans - 123,000
Obligations under finance lease and hire purchase contracts 116,055 97,709
116,055 220,709
8 Related party transactions
There was no related party transaction apart from salary and dividend paid to the directors.
9 Other information
Crest Coaches Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Dalys Road
Rochford
Essex
SS4 1RA
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