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REGISTERED NUMBER: SC277625 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2022 TO 31 JULY 2023

FOR

BRUCE COACHES LTD

BRUCE COACHES LTD (REGISTERED NUMBER: SC277625)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2022 TO 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRUCE COACHES LTD

COMPANY INFORMATION
FOR THE PERIOD 1 MAY 2022 TO 31 JULY 2023







DIRECTORS: J Bruce
J Bruce Jnr





REGISTERED OFFICE: 40 Main Street
Salsburgh
ML7 4LW





REGISTERED NUMBER: SC277625 (Scotland)

BRUCE COACHES LTD (REGISTERED NUMBER: SC277625)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 653,120
Investments 6 - 2,160,000
- 2,813,120

CURRENT ASSETS
Stocks - 24,250
Debtors 7 1,044 539,021
Cash at bank 2,500 673,177
3,544 1,236,448
CREDITORS
Amounts falling due within one year 8 4,025 1,729,030
NET CURRENT LIABILITIES (481 ) (492,582 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(481

)

2,320,538

CREDITORS
Amounts falling due after more than
one year

9

-

(180,598

)

PROVISIONS FOR LIABILITIES 10 - (13,006 )
NET (LIABILITIES)/ASSETS (481 ) 2,126,934

BRUCE COACHES LTD (REGISTERED NUMBER: SC277625)

BALANCE SHEET - continued
31 JULY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (1,481 ) 2,125,934
SHAREHOLDERS' FUNDS (481 ) 2,126,934

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





J Bruce - Director


BRUCE COACHES LTD (REGISTERED NUMBER: SC277625)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2022 TO 31 JULY 2023

1. STATUTORY INFORMATION

Bruce Coaches Ltd 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten 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.
Tools & equipment - 20% on reducing balance
Motor Vehicles - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Coaches - 25% on cost and 10% on reducing balance

Tangible assets are initially recognised at cost which is the purchase price plus any directly attributable costs. Subsequently tangible assets are measured at cost less accumulated depreciation and impairment losses

Government grants
Government grants are recognised in the profit and loss account on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Government grants that are received in respect of expenses or losses already incurred by the company and are recognised in the profit and loss account in the period when the grant becomes receivable.

Government grants received on a capital basis are recognised in profit and loss account on a systematic basis over the useful economic life of the asset.

Grants relating to an asset which are deferred are recognised as a liability in deferred income and are not deducted from the carrying value of an asset.

BRUCE COACHES LTD (REGISTERED NUMBER: SC277625)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2022 TO 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments such as debtors, cash and bank are recorded at the proceeds received net of transaction costs.

Taxation
Taxation for the period 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.

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 period 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 period was 55 (2022 - 50 ) .

BRUCE COACHES LTD (REGISTERED NUMBER: SC277625)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2022 TO 31 JULY 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 31 July 2023 360,000
AMORTISATION
At 1 May 2022
and 31 July 2023 360,000
NET BOOK VALUE
At 31 July 2023 -
At 30 April 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Tools & Motor and
equipment Vehicles fittings Coaches Totals
£    £    £    £    £   
COST
At 1 May 2022 144,742 102,018 129,354 2,068,832 2,444,946
Disposals (144,742 ) (102,018 ) (129,354 ) (2,068,832 ) (2,444,946 )
At 31 July 2023 - - - - -
DEPRECIATION
At 1 May 2022 120,117 75,280 112,184 1,484,245 1,791,826
Eliminated on disposal (120,117 ) (75,280 ) (112,184 ) (1,484,245 ) (1,791,826 )
At 31 July 2023 - - - - -
NET BOOK VALUE
At 31 July 2023 - - - - -
At 30 April 2022 24,625 26,738 17,170 584,587 653,120

BRUCE COACHES LTD (REGISTERED NUMBER: SC277625)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2022 TO 31 JULY 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Tools & Motor
equipment Vehicles Coaches Totals
£    £    £    £   
COST
At 1 May 2022 25,300 53,000 1,873,988 1,952,288
Disposals (25,300 ) (53,000 ) (1,873,988 ) (1,952,288 )
At 31 July 2023 - - - -
DEPRECIATION
At 1 May 2022 13,795 38,094 1,435,371 1,487,260
Eliminated on disposal (13,795 ) (38,094 ) (1,435,371 ) (1,487,260 )
At 31 July 2023 - - - -
NET BOOK VALUE
At 31 July 2023 - - - -
At 30 April 2022 11,505 14,906 438,617 465,028

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2022 2,160,000
Disposals (2,160,000 )
At 31 July 2023 -
NET BOOK VALUE
At 31 July 2023 -
At 30 April 2022 2,160,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 443,580
Sundry debtors - 1,898
VAT debtor 1,044 76,297
Prepayments - 17,246
1,044 539,021

BRUCE COACHES LTD (REGISTERED NUMBER: SC277625)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2022 TO 31 JULY 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts and finance leases - 42,516
Trade creditors 2,348 164,686
Amounts owed to associates - 9,836
Social security and other taxes - 32,539
Other creditors 41 4,732
Directors' current accounts - 1,350,000
Accrued expenses 1,636 124,721
4,025 1,729,030

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts and finance leases - 180,598

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 13,006

Deferred
tax
£   
Balance at 1 May 2022 13,006
Credit to Income Statement during period (13,006 )
Balance at 31 July 2023 -

The deferred taxation provision relates to capital allowances in advance of depreciation and potential tax liability on gift of assets to the company.