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REGISTERED NUMBER: 08393552 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

RAINHAM COACH CO LTD

RAINHAM COACH CO LTD (REGISTERED NUMBER: 08393552)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAINHAM COACH CO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: D J Graham
C M Graham
J C Harrington
R D Graham





REGISTERED OFFICE: 1a Springfield Road
Gillingham
Kent
ME7 1YJ





REGISTERED NUMBER: 08393552 (England and Wales)





ACCOUNTANTS: Williams Giles Professional Services Ltd
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

RAINHAM COACH CO LTD (REGISTERED NUMBER: 08393552)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 370,736 487,987
370,736 487,987

CURRENT ASSETS
Debtors 6 47,634 132,990
Cash at bank and in hand 210,624 93,580
258,258 226,570
CREDITORS
Amounts falling due within one year 7 132,353 125,797
NET CURRENT ASSETS 125,905 100,773
TOTAL ASSETS LESS CURRENT
LIABILITIES

496,641

588,760

CREDITORS
Amounts falling due after more than one
year

8

(349,148

)

(409,804

)

PROVISIONS FOR LIABILITIES (90,414 ) (82,457 )
NET ASSETS 57,079 96,499

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 56,979 96,399
SHAREHOLDERS' FUNDS 57,079 96,499

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

RAINHAM COACH CO LTD (REGISTERED NUMBER: 08393552)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 30 August 2023 and were signed on its behalf by:





D J Graham - Director


RAINHAM COACH CO LTD (REGISTERED NUMBER: 08393552)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Rainham Coach Co 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
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/or from the rendering of services.

Turnover from the rendering of coach hire services is recognised by reference to the date of hire, and whether or not the hire was subsequently completed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five 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 the cost less estimated residual value of 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 - 25% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities - trade creditors and other creditors are measured initially at fair value through the Income Statement and are measured subsequently at amortised cost.

Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash.

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.


RAINHAM COACH CO LTD (REGISTERED NUMBER: 08393552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 22 (2022 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 150,000
AMORTISATION
At 1 April 2022
and 31 March 2023 150,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

RAINHAM COACH CO LTD (REGISTERED NUMBER: 08393552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 2,290 4,378 996,008 3,340 1,006,016
Disposals - - (119,113 ) - (119,113 )
At 31 March 2023 2,290 4,378 876,895 3,340 886,903
DEPRECIATION
At 1 April 2022 1,849 2,974 511,053 2,153 518,029
Charge for year 110 351 68,683 297 69,441
Eliminated on disposal - - (71,303 ) - (71,303 )
At 31 March 2023 1,959 3,325 508,433 2,450 516,167
NET BOOK VALUE
At 31 March 2023 331 1,053 368,462 890 370,736
At 31 March 2022 441 1,404 484,955 1,187 487,987

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 717,269
Transfer to ownership (129,914 )
At 31 March 2023 587,355
DEPRECIATION
At 1 April 2022 331,876
Charge for year 50,553
Transfer to ownership (81,540 )
At 31 March 2023 300,889
NET BOOK VALUE
At 31 March 2023 286,466
At 31 March 2022 385,393

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 38,429 110,176
Other debtors 9,205 22,814
47,634 132,990

RAINHAM COACH CO LTD (REGISTERED NUMBER: 08393552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,982 1,934
Hire purchase contracts 58,674 72,305
Taxation and social security 13,548 6,321
Other creditors 58,149 45,237
132,353 125,797

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 4,822 6,804
Hire purchase contracts 64,326 123,000
Other creditors 280,000 280,000
349,148 409,804

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase - 10,189

9. SECURED DEBTS

Natwest Plc have a fixed and floating charge over all assets of the company.

10. RELATED PARTY DISCLOSURES

Included in long term creditors to finance the business is a joint unsecured loan from D J Graham and C M Graham of £280,000 (2022 - £280,000) on which interest is payable at 6% per annum however the interest charge has been waived this year.

In addition, D J Graham and C J Graham charged the company a market rent of £6,000 for the use of land and buildings.