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REGISTERED NUMBER: 07234893 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

RELIANCE COACH SERVICES LIMITED

RELIANCE COACH SERVICES LIMITED (REGISTERED NUMBER: 07234893)






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


RELIANCE COACH SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: S Embury





REGISTERED OFFICE: 3rd Floor
Lawford House
Albert Place
London
N3 1QA





REGISTERED NUMBER: 07234893 (England and Wales)





ACCOUNTANTS: Sterlings Ltd
Chartered Accountants
Lawford House
Albert Place
London
N3 1QA

RELIANCE COACH SERVICES LIMITED (REGISTERED NUMBER: 07234893)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 121,651 84,413

CURRENT ASSETS
Debtors 5 27,581 28,763
Cash at bank and in hand 16,364 30,858
43,945 59,621
CREDITORS
Amounts falling due within one year 6 (45,410 ) (59,208 )
NET CURRENT (LIABILITIES)/ASSETS (1,465 ) 413
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,186

84,826

CREDITORS
Amounts falling due after more than one
year

7

(21,281

)

(40,295

)

PROVISIONS FOR LIABILITIES (23,113 ) (16,038 )
NET ASSETS 75,792 28,493

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 75,692 28,393
SHAREHOLDERS' FUNDS 75,792 28,493

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 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.

RELIANCE COACH SERVICES LIMITED (REGISTERED NUMBER: 07234893)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2023 and were signed by:





S Embury - Director


RELIANCE COACH SERVICES LIMITED (REGISTERED NUMBER: 07234893)

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

1. STATUTORY INFORMATION

Reliance Coach Services Limited 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 the provisions of Section 1A 'Small Entities' of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents fees and services invoiced, net of vat.

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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets or liabilities like debtors, other debtors,creditors and other creditors, loans from banks or third parties and loans to/from related parties.

Debt instruments like bank loans are initially measured at present value of future payments and subsequently at amortised cost using the effective interest method. Debt instruments which are payable or receivable within one year, such as rent debtors or rent creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be received.

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 profit and loss account.

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.


RELIANCE COACH SERVICES LIMITED (REGISTERED NUMBER: 07234893)

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.

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.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

RELIANCE COACH SERVICES LIMITED (REGISTERED NUMBER: 07234893)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 362,454
Additions 88,000
Disposals (76,500 )
At 31 March 2023 373,954
DEPRECIATION
At 1 April 2022 278,041
Charge for year 40,550
Eliminated on disposal (66,288 )
At 31 March 2023 252,303
NET BOOK VALUE
At 31 March 2023 121,651
At 31 March 2022 84,413

Commercial motor vehicles purchased under HP agreements are included in the above.


2023 2022
£ £

Original cost 282,694 282,694


Written down value 55,324 73,766

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,868 25,603
Other debtors 3,713 3,160
27,581 28,763

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts 11,250 28,835
Trade creditors 1,071 894
Taxation and social security 2,364 10,971
Other creditors 22,725 10,508
45,410 59,208

RELIANCE COACH SERVICES LIMITED (REGISTERED NUMBER: 07234893)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,884 25,648
Hire purchase contracts 3,397 14,647
21,281 40,295

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 14,647 43,482

9. RELATED PARTY DISCLOSURES

As at the balance sheet date, the company owed its Director, S Embury, the sum of £18,914 (2022 - £3,007).

This balance is repayable on demand and is interest free at this time.