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COMPANY REGISTRATION NUMBER: 08434500
UK Coach Operators Association Limited
Company Limited by Guarantee
Unaudited Financial Statements
28 February 2023
UK Coach Operators Association Limited
Company Limited by Guarantee
Financial Statements
Year ended 28 February 2023
Contents
Page
Directors' report
1
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
3
Statement of income and retained earnings
4
Statement of financial position
5
Notes to the financial statements
6
UK Coach Operators Association Limited
Company Limited by Guarantee
Directors' Report
Year ended 28 February 2023
The directors present their report and the unaudited financial statements of the company for the year ended 28 February 2023 .
Directors
The directors who served the company during the year were as follows:
Mr S R Telling
Mr M S Anderson
Mr P J Bradley
Mr A Palmer
Mr P Rice
Mr R Whelan
Mr A Marett
Mr K Wilde
Mr J James
Mr S Spiller
Mr D C Edwards
(Appointed 8 March 2022)
Mr K C Mayne
(Appointed 8 March 2022)
Ms J A Dale
(Resigned 8 March 2022)
Mr N Pegg
(Resigned 8 March 2022)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 10 October 2023 and signed on behalf of the board by:
Mr P Rice
Director
Registered office:
Little Owl Farm
Halebourne Lane
CHOBHAM
Surrey
GU24 8SL
UK Coach Operators Association Limited
Company Limited by Guarantee
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of UK Coach Operators Association Limited
Year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of UK Coach Operators Association Limited for the year ended 28 February 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of UK Coach Operators Association Limited, as a body, in accordance with the terms of my engagement letter dated 1 November 2016. My work has been undertaken solely to prepare for your approval the financial statements of UK Coach Operators Association Limited and state those matters that I have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than UK Coach Operators Association Limited and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that UK Coach Operators Association Limited 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 loss of UK Coach Operators Association Limited. You consider that UK Coach Operators Association Limited is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of UK Coach Operators Association Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
SWANGUARD LTD T/AS B J TAYLOR CHARTERED ACCOUNTANT Chartered accountants
Chichester PO20 7AA
10 October 2023
UK Coach Operators Association Limited
Company Limited by Guarantee
Statement of Income and Retained Earnings
Year ended 28 February 2023
2023
2022
Note
£
£
Turnover
54,072
51,612
Cost of sales
3,528
641
--------
--------
Gross profit
50,544
50,971
Administrative expenses
50,723
41,367
--------
--------
Operating (loss)/profit
( 179)
9,604
--------
--------
(Loss)/profit before taxation
6
( 179)
9,604
Tax on (loss)/profit
( 55)
55
----
-------
(Loss)/profit for the financial year and total comprehensive income
( 124)
9,549
----
-------
Retained earnings at the start of the year
23,481
13,932
--------
--------
Retained earnings at the end of the year
23,357
23,481
--------
--------
All the activities of the company are from continuing operations.
UK Coach Operators Association Limited
Company Limited by Guarantee
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
7
223
446
Current assets
Debtors
8
12,265
2,627
Cash at bank and in hand
21,791
27,531
--------
--------
34,056
30,158
Creditors: amounts falling due within one year
9
10,922
7,123
--------
--------
Net current assets
23,134
23,035
--------
--------
Total assets less current liabilities
23,357
23,481
--------
--------
Net assets
23,357
23,481
--------
--------
Capital and reserves
Profit and loss account
23,357
23,481
--------
--------
Members funds
23,357
23,481
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 October 2023 , and are signed on behalf of the board by:
Mr P Rice
Director
Company registration number: 08434500
UK Coach Operators Association Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Little Owl Farm, Halebourne Lane, CHOBHAM, Surrey, GU24 8SL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Company has survived the difficulties derived from Covid 19 and related lockdowns. Its membership portfolio has remained largely intact and as such the directors consider the Company continues as a Going Concern. The accounts have, therefore, been prepared on this basis.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102 (part 1a). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) Disclosures in respect of share-based payments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
33% straight line
4. Company limited by guarantee
The company has no share capital as it is a company limited by guarantee. Each member has a liability to contribute a sum not exceeding £1 in the event of the company being wound up.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
6. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
223
223
----
----
7. Tangible assets
Equipment
Total
£
£
Cost
At 1 March 2022 and 28 February 2023
669
669
----
----
Depreciation
At 1 March 2022
223
223
Charge for the year
223
223
----
----
At 28 February 2023
446
446
----
----
Carrying amount
At 28 February 2023
223
223
----
----
At 28 February 2022
446
446
----
----
8. Debtors
2023
2022
£
£
Trade debtors
6,271
2,546
Other debtors
5,994
81
--------
-------
12,265
2,627
--------
-------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,821
736
Corporation tax
140
Social security and other taxes
862
Other creditors
2,216
6,247
Receipts in advance
6,023
--------
-------
10,922
7,123
--------
-------
10. Related party transactions
The company was under the control of all directors throughout the current and previous year. There were no related party transactions to report according to the provisions Section 1A of FRS102