REGISTERED NUMBER: 04671323 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PARK LANE MINI BUSES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTOR:

M A Tighe

SECRETARY:

M A Tighe

REGISTERED OFFICE:

72 Wilshaw Lane

Ashton-under-Lyne

Lancashire

OL7 9QX

REGISTERED NUMBER:

04671323 (England and Wales)

ACCOUNTANTS:

Hanley & Co

Chartered Accountants

Suite 204 Ashton Old Baths

Stamford Street West

Ashton-under-Lyne

Lancashire

OL6 7FW

FIXED ASSETS

Property, plant and equipment

4

306,898

279,621

CURRENT ASSETS

Debtors

154,778

55,347

Prepayments and accrued income

25,420

14,500

Cash at bank

22,246

21,428

202,444

91,275

CREDITORS

Amounts falling due within one year

149,242

126,542

NET CURRENT ASSETS/(LIABILITIES)

53,202

(35,267

)

TOTAL ASSETS LESS CURRENT LIABILITIES

360,100

244,354

CREDITORS

Amounts falling due after more than one year

(139,489

)

(127,453

)

PROVISIONS FOR LIABILITIES

(58,311

)

(52,111

)

NET ASSETS

162,300

64,790

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

162,200

64,690

162,300

64,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 May 2023 and were signed by:

M A Tighe - Director

1.	STATUTORY INFORMATION

Park Lane Mini Buses Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 18 (2022 - 12 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1 March 2022

492,257

Additions

132,997

Disposals

(483

)

At 28 February 2023

624,771

DEPRECIATION

At 1 March 2022

212,636

Charge for year

105,358

Eliminated on disposal

(121

)

At 28 February 2023

317,873

NET BOOK VALUE

At 28 February 2023

306,898

At 28 February 2022

279,621

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 March 2022

234,269

Additions

127,866

Transfer to ownership

(75,000

)

At 28 February 2023

287,135

DEPRECIATION

At 1 March 2022

53,486

Charge for year

49,174

Transfer to ownership

(22,500

)

At 28 February 2023

80,160

NET BOOK VALUE

At 28 February 2023

206,975

At 28 February 2022

180,783

5.	RELATED PARTY DISCLOSURES

Creditors: amounts falling due within one year - includes interest free directors loan of £1,146 (2022 £39,133)

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Park Lane Mini Buses Ltd for the year ended 28 February 2023 which comprise the Abridged Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Park Lane Mini Buses Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Park Lane Mini Buses Ltd and state those matters that we have agreed to state to the director of Park Lane Mini Buses Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Park Lane Mini Buses Ltd and its director for our work or for this report.

It is your duty to ensure that Park Lane Mini Buses Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Park Lane Mini Buses Ltd. You consider that Park Lane Mini Buses Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Park Lane Mini Buses Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hanley & Co

Chartered Accountants

Suite 204 Ashton Old Baths

Stamford Street West

Ashton-under-Lyne

Lancashire

OL6 7FW

31 May 2023