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REGISTERED NUMBER: SC394463 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HUNTERS EXECUTIVE COACHES LIMITED

HUNTERS EXECUTIVE COACHES LIMITED (REGISTERED NUMBER: SC394463)






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


HUNTERS EXECUTIVE COACHES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: Mrs J Jack
Mr J Hunter





SECRETARY: Mr P Jack





REGISTERED OFFICE: Dumyat Business Park
Bond Street
Tullibody
Clackmannanshire
FK10 2PB





REGISTERED NUMBER: SC394463 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

HUNTERS EXECUTIVE COACHES LIMITED (REGISTERED NUMBER: SC394463)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,178,883 3,387,308
3,178,883 3,387,308

CURRENT ASSETS
Debtors 6 459,420 445,388
Cash at bank and in hand 391,831 523,287
851,251 968,675
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR

7

704,226

808,263
NET CURRENT ASSETS 147,025 160,412
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,325,908

3,547,720

CREDITORS: AMOUNTS FALLING
DUE AFTER MORE THAN ONE YEAR

8

(976,556

)

(1,277,387

)

PROVISIONS FOR LIABILITIES 9 (649,897 ) (685,777 )
NET ASSETS 1,699,455 1,584,556

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,699,355 1,584,456
SHAREHOLDERS' FUNDS 1,699,455 1,584,556

HUNTERS EXECUTIVE COACHES LIMITED (REGISTERED NUMBER: SC394463)

BALANCE SHEET - continued
31 March 2023


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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 July 2023 and were signed on its behalf by:





Mrs J Jack - Director


HUNTERS EXECUTIVE COACHES LIMITED (REGISTERED NUMBER: SC394463)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Hunters Executive Coaches Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
The turnover shown in the profit and loss account represents amounts invoiced during the year in respect of coach hire exclusive of Value Added Tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, has been amortised evenly over its estimated useful life of five years.

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.
Land and property - 4% on cost
Coaches and machinery - 10% - 33% on cost
Office equipment - 50% on cost
Motor vehicles - 25% per annum reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

HUNTERS EXECUTIVE COACHES LIMITED (REGISTERED NUMBER: SC394463)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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.

HUNTERS EXECUTIVE COACHES LIMITED (REGISTERED NUMBER: SC394463)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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 57 (2022 - 53 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 190,744
AMORTISATION
At 1 April 2022
and 31 March 2023 190,744
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

HUNTERS EXECUTIVE COACHES LIMITED (REGISTERED NUMBER: SC394463)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Coaches
Land and Tenant's and
property Improvements machinery
£    £    £   
COST
At 1 April 2022 670,619 73,000 3,671,426
Additions 1,068 - 766,367
Disposals - - (1,024,608 )
At 31 March 2023 671,687 73,000 3,413,185
DEPRECIATION
At 1 April 2022 80,122 730 964,231
Charge for year 18,569 2,920 348,423
Eliminated on disposal - - (425,762 )
At 31 March 2023 98,691 3,650 886,892
NET BOOK VALUE
At 31 March 2023 572,996 69,350 2,526,293
At 31 March 2022 590,497 72,270 2,707,195

Office Motor
equipment vehicles Totals
£    £    £   
COST
At 1 April 2022 38,379 18,246 4,471,670
Additions - - 767,435
Disposals - - (1,024,608 )
At 31 March 2023 38,379 18,246 4,214,497
DEPRECIATION
At 1 April 2022 34,148 5,131 1,084,362
Charge for year 3,823 3,279 377,014
Eliminated on disposal - - (425,762 )
At 31 March 2023 37,971 8,410 1,035,614
NET BOOK VALUE
At 31 March 2023 408 9,836 3,178,883
At 31 March 2022 4,231 13,115 3,387,308

HUNTERS EXECUTIVE COACHES LIMITED (REGISTERED NUMBER: SC394463)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Coaches
and
machinery
£   
COST
At 1 April 2022 2,321,600
Additions 201,425
Disposals (662,275 )
Transfer to ownership (223,000 )
At 31 March 2023 1,637,750
DEPRECIATION
At 1 April 2022 589,469
Charge for year 192,354
Eliminated on disposal (291,322 )
Transfer to ownership (137,751 )
At 31 March 2023 352,750
NET BOOK VALUE
At 31 March 2023 1,285,000
At 31 March 2022 1,732,131

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 353,635 331,668
Other debtors 105,785 113,720
459,420 445,388

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 121,253 106,641
Hire purchase contracts 253,485 374,804
Trade creditors 149,900 238,961
Taxation and social security 125,179 27,524
Other creditors 54,409 60,333
704,226 808,263

HUNTERS EXECUTIVE COACHES LIMITED (REGISTERED NUMBER: SC394463)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 245,486 366,738
Hire purchase contracts 731,070 910,649
976,556 1,277,387

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 8,303 138,143

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 649,897 685,777

Deferred
tax
£   
Balance at 1 April 2022 685,777
Credit to Statement of Income and Retained Earnings during year (35,880 )
Movement in year
Balance at 31 March 2023 649,897

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr J Hunter
Balance outstanding at start of year 722 (118 )
Amounts advanced 78,876 72,651
Amounts repaid (65,280 ) (71,811 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,318 722

Mrs J Jack
Balance outstanding at start of year (11,815 ) (11,084 )
Amounts advanced 62,876 62,841
Amounts repaid (62,720 ) (63,572 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,659 ) (11,815 )