Surf AccountsProduction v1.0.0 v1.0.0 2022-02-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is passenger transport by luxury coaches. 26 September 2023 NI641688 2023-01-31 NI641688 2022-01-31 NI641688 2021-01-31 NI641688 2022-02-01 2023-01-31 NI641688 2021-02-01 2022-01-31 NI641688 uk-bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 NI641688 uk-curr:PoundSterling 2022-02-01 2023-01-31 NI641688 uk-bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 NI641688 uk-bus:FullAccounts 2022-02-01 2023-01-31 NI641688 uk-bus:Director1 2022-02-01 2023-01-31 NI641688 uk-bus:RegisteredOffice 2022-02-01 2023-01-31 NI641688 uk-bus:Agent1 2022-02-01 2023-01-31 NI641688 uk-core:ShareCapital 2023-01-31 NI641688 uk-core:ShareCapital 2022-01-31 NI641688 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI641688 uk-core:RetainedEarningsAccumulatedLosses 2022-01-31 NI641688 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI641688 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-01-31 NI641688 uk-bus:FRS102 2022-02-01 2023-01-31 NI641688 uk-core:Goodwill 2022-02-01 2023-01-31 NI641688 uk-core:PlantMachinery 2022-02-01 2023-01-31 NI641688 uk-core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 NI641688 uk-core:MotorVehicles 2022-02-01 2023-01-31 NI641688 uk-bus:Audited 2022-02-01 2023-01-31 NI641688 uk-core:Goodwill 2022-01-31 NI641688 uk-core:Goodwill 2023-01-31 NI641688 uk-core:CurrentFinancialInstruments 2023-01-31 NI641688 uk-core:CurrentFinancialInstruments 2022-01-31 NI641688 uk-core:CurrentFinancialInstruments 2023-01-31 NI641688 uk-core:CurrentFinancialInstruments 2022-01-31 NI641688 uk-core:WithinOneYear 2023-01-31 NI641688 uk-core:WithinOneYear 2022-01-31 NI641688 uk-core:WithinOneYear 2023-01-31 NI641688 uk-core:WithinOneYear 2022-01-31 NI641688 uk-core:AfterOneYear 2023-01-31 NI641688 uk-core:AfterOneYear 2022-01-31 NI641688 uk-core:BetweenOneFiveYears 2023-01-31 NI641688 uk-core:BetweenOneFiveYears 2022-01-31 NI641688 uk-core:EmployeeBenefits 2022-01-31 NI641688 uk-core:EmployeeBenefits 2022-02-01 2023-01-31 NI641688 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-01-31 NI641688 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-01-31 NI641688 uk-core:OtherDeferredTax 2023-01-31 NI641688 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-01-31 NI641688 uk-core:EmployeeBenefits 2023-01-31 NI641688 uk-core:ParentEntities 2022-02-01 2023-01-31 NI641688 2022-02-01 2023-01-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Hannon Coach Hire Ltd
 
Financial Statements
 
for the financial year ended 31 January 2023
Hannon Coach Hire Ltd
DIRECTOR AND OTHER INFORMATION

 
Director Mr. Aodh Hannon
 
 
Company Registration Number NI641688
 
 
Registered Office and Business Address 21 Brankinstown Road
Aghalee
Lurgan
Co. Armagh
BT67 0DF
Northern Ireland
 
 
Independent Auditors MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
Northern Ireland
 
 
Bankers HSBC
  1 Grand Canal Square
  Grand Canal Harbour
  Dublin 2
  Ireland
 
   
Solicitors Tughans
  Marlborough House
  30 Victoria Street
  Belfast
  Co. Antrim
  BT1 3GG
  United Kingdom



Hannon Coach Hire Ltd
Company Registration Number: NI641688
BALANCE SHEET
as at 31 January 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 7 489,478 773,262
───────── ─────────
 
Current Assets
Debtors 8 152,071 182,252
Cash and cash equivalents 154,256 45,891
───────── ─────────
306,327 228,143
───────── ─────────
Creditors: amounts falling due within one year 9 (370,222) (452,055)
───────── ─────────
Net Current Liabilities (63,895) (223,912)
───────── ─────────
Total Assets less Current Liabilities 425,583 549,350
 
Creditors:
amounts falling due after more than one year 10 (373,544) (671,966)
 
Provisions for liabilities 13 (26,778) (18,681)
───────── ─────────
Net Assets/(Liabilities) 25,261 (141,297)
═════════ ═════════
 
Capital and Reserves
Called up share capital 30,000 30,000
Retained earnings (4,739) (171,297)
───────── ─────────
Equity attributable to owners of the company 25,261 (141,297)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
Approved by the Director and authorised for issue on 26 September 2023
           
           
________________________________          
Mr. Aodh Hannon          
Director          
           



Hannon Coach Hire Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 January 2023

   
1. General Information
 
Hannon Coach Hire Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 21 Brankinstown Road, Aghalee, Lurgan, Co. Armagh, BT67 0DF, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is passenger transport by luxury coaches. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the period ended 31 January 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the value of sales of services in the normal course of business (excluding Value Added Tax). Turnover relates to the amounts derived from the sales of services to customers from coach operations during the period at invoiced amounts (excluding Value Added Tax). Revenue is recognised on departure for tours and on return for all other coach operations.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 5 years, which is estimated to be the period during which benefits are expected to arise.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 20% Reducing Balance
  Motor vehicles - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Government grants
Revenue grants are credited to the Profit and Loss Account when receivable.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
 
Exceptional item
Exceptional items are those that the director‘s views are required to be separately disclosed by virtue of their size or incidence to enable a full understanding of the company‘s financial performance.

The exceptional item credited to profit and loss in the prior year represents the write back of an intercompany debt with a fellow subsidiary, Hannon Transport Ltd.
   
3. Significant accounting judgements and key sources of estimation uncertainty
 
In the application of the company‘s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates provided by the director relate to the estimated economic life of the coach fleet and the related depreciation. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
   
4. INFORMATION RELATING TO THE AUDITOR'S REPORT
 
The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.
 
The financial statements were audited by MG accountants.
The Auditor's Report was signed by Martin Grimley (Senior Statutory Auditor) for and on behalf of MG accountants on 26th September 2023.
 
       
5. Employees
 
The average monthly number of employees, including director, during the financial year was 10, (2022 - 7).
 
  2023 2022
  Number Number
 
Director 1 1
Employees 9 6
  ───────── ─────────
  10 7
  ═════════ ═════════
     
6. Intangible assets
   
  Goodwill
  £
Cost
At 1 February 2022 306,000
Disposals (306,000)
  ─────────
At 31 January 2023 -
  ─────────
Amortisation
At 1 February 2022 306,000
On disposals (306,000)
  ─────────
At 31 January 2023 -
  ─────────
Net book value
At 31 January 2023 -
  ═════════
           
7. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 February 2022 1,934,421 8,720 19,737 1,962,878
Disposals (472,310) - - (472,310)
  ───────── ───────── ───────── ─────────
At 31 January 2023 1,462,111 8,720 19,737 1,490,568
  ───────── ───────── ───────── ─────────
Depreciation
At 1 February 2022 1,173,120 4,927 11,569 1,189,616
Charge for the financial year 119,976 756 1,632 122,364
On disposals (310,890) - - (310,890)
  ───────── ───────── ───────── ─────────
At 31 January 2023 982,206 5,683 13,201 1,001,090
  ───────── ───────── ───────── ─────────
Net book value
At 31 January 2023 479,905 3,037 6,536 489,478
  ═════════ ═════════ ═════════ ═════════
At 31 January 2022 761,301 3,793 8,168 773,262
  ═════════ ═════════ ═════════ ═════════
       
8. Debtors 2023 2022
  £ £
 
Trade debtors 22,012 59,580
Amounts owed by group undertakings 85,279 4,126
Amounts owed by related parties 280 -
Other debtors 23,786 89,729
Taxation  (Note 11) - 2,538
Prepayments and accrued income 20,714 26,279
  ───────── ─────────
  152,071 182,252
  ═════════ ═════════
       
9. Creditors 2023 2022
Amounts falling due within one year £ £
 
Net obligations under finance leases
and hire purchase contracts 230,929 329,617
Trade creditors 36,701 67,901
Amounts owed to group undertakings 6,502 -
Taxation  (Note 11) 13,175 13,719
Director's current account 190 190
Other creditors 70,107 36,089
Accruals 12,618 4,539
  ───────── ─────────
  370,222 452,055
  ═════════ ═════════
       
10. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Finance leases and hire purchase contracts 373,544 671,966
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 230,929 329,617
Repayable between one and five years 373,544 671,966
  ───────── ─────────
  604,473 1,001,583
  ═════════ ═════════
       
11. Taxation 2023 2022
  £ £
 
Debtors:
VAT - 2,538
  ═════════ ═════════
Creditors:
VAT 703 -
PAYE / NI 12,472 13,719
  ───────── ─────────
  13,175 13,719
  ═════════ ═════════
       
12. Details of creditors
 
Security given in respect of creditors
HSBC UK hold a debenture in respect of any borrowings represented by a Fixed and Floating Charge over all assets and undertakings both present and future dated 22 January 2021.
         
13. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start 18,681 18,681 24,281
Charged to profit and loss 8,097 8,097 (5,600)
  ───────── ───────── ─────────
At financial year end 26,778 26,778 18,681
  ═════════ ═════════ ═════════
       
14. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 January 2023.
   
15. Parent company
 
At 31 January 2023 the company‘s ultimate parent undertaking is Hannon Holdings Limited.
 
   
16. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.