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REGISTERED NUMBER: 04718775 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st March 2023

for

KENT COACH TRAVEL LIMITED

KENT COACH TRAVEL LIMITED (REGISTERED NUMBER: 04718775)

Contents of the Financial Statements
for the year ended 31st March 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


KENT COACH TRAVEL LIMITED

Company Information
for the year ended 31st March 2023







DIRECTOR: Mr T Lambkin





SECRETARY: Barrons Limited





REGISTERED OFFICE: Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN





REGISTERED NUMBER: 04718775 (England and Wales)





ACCOUNTANTS: Barrons Limited
Chartered Accountants
Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Kent Coach Travel Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kent Coach Travel Limited for the year ended 31st March 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Kent Coach Travel Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kent Coach Travel Limited and state those matters that we have agreed to state to the director of Kent Coach Travel Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kent Coach Travel Limited and its director for our work or for this report.

It is your duty to ensure that Kent Coach Travel 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 profit of Kent Coach Travel Limited. You consider that Kent Coach Travel Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kent Coach Travel Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Barrons Limited
Chartered Accountants
Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN


23rd November 2023

KENT COACH TRAVEL LIMITED (REGISTERED NUMBER: 04718775)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,265,663 2,362,325

CURRENT ASSETS
Stocks 13,256 33,496
Debtors 5 944,047 834,737
Cash at bank and in hand 190,808 3,699
1,148,111 871,932
CREDITORS
Amounts falling due within one year 6 803,797 695,787
NET CURRENT ASSETS 344,314 176,145
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,609,977

2,538,470

CREDITORS
Amounts falling due after more than one
year

7

(218,874

)

(280,625

)

PROVISIONS FOR LIABILITIES (524,280 ) (369,256 )
NET ASSETS 1,866,823 1,888,589

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 50,633 50,633
Retained earnings 1,816,090 1,837,856
SHAREHOLDERS' FUNDS 1,866,823 1,888,589

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

KENT COACH TRAVEL LIMITED (REGISTERED NUMBER: 04718775)

Balance Sheet - continued
31st 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd November 2023 and were signed by:





Mr T Lambkin - Director


KENT COACH TRAVEL LIMITED (REGISTERED NUMBER: 04718775)

Notes to the Financial Statements
for the year ended 31st March 2023


1. STATUTORY INFORMATION

Kent Coach Travel 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 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 as modified by the revaluation of certain assets.

Turnover
The turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before the revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Land and buildings- 20% on cost
Plant and machinery etc- 15%, 20% and 33% on cost less residual values
Motor vehicles- Over the operating life of the asset

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

KENT COACH TRAVEL LIMITED (REGISTERED NUMBER: 04718775)

Notes to the Financial Statements - continued
for the year ended 31st March 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If Stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies
Assets in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the operating life of the asset.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

KENT COACH TRAVEL LIMITED (REGISTERED NUMBER: 04718775)

Notes to the Financial Statements - continued
for the year ended 31st March 2023


2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Government grants are received in relation to the purchase of ticket machines, and are recognised in the profit and loss account over the estimated useful life of the assets they were granted to purchase.

Financial instruments
The Company only enters into basic financial instruments 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.

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 profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 36 ) .

KENT COACH TRAVEL LIMITED (REGISTERED NUMBER: 04718775)

Notes to the Financial Statements - continued
for the year ended 31st March 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st April 2022 25,985 4,520,053 4,546,038
Additions - 298,976 298,976
Disposals - (343,345 ) (343,345 )
At 31st March 2023 25,985 4,475,684 4,501,669
DEPRECIATION
At 1st April 2022 25,227 2,158,486 2,183,713
Charge for year 700 275,788 276,488
Eliminated on disposal - (224,195 ) (224,195 )
At 31st March 2023 25,927 2,210,079 2,236,006
NET BOOK VALUE
At 31st March 2023 58 2,265,605 2,265,663
At 31st March 2022 758 2,361,567 2,362,325

Cost or valuation at 31st March 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 - 9,850 9,850
Cost 25,985 4,465,834 4,491,819
25,985 4,475,684 4,501,669

If motor vehicles had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 3,695,440 3,739,809
Aggregate depreciation 1,390,852 1,415,139

Motor vehicles were valued on an open market basis on 31st March 2023 by the company's director .


KENT COACH TRAVEL LIMITED (REGISTERED NUMBER: 04718775)

Notes to the Financial Statements - continued
for the year ended 31st March 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 138,075 80,936
Amounts owed by group undertakings 1,904 -
Other debtors 804,068 753,801
944,047 834,737

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 36,732
Hire purchase contracts (see note 8) 219,146 261,818
Trade creditors 435,526 286,854
Taxation and social security 26,085 11,986
Other creditors 123,040 98,397
803,797 695,787

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 218,874 280,625

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 219,146 261,818
Between one and five years 218,874 280,625
438,020 542,443

Non-cancellable operating leases
2023 2022
£    £   
Within one year 84,586 89,361
Between one and five years 180,000 48,587
264,586 137,948

KENT COACH TRAVEL LIMITED (REGISTERED NUMBER: 04718775)

Notes to the Financial Statements - continued
for the year ended 31st March 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 36,732
Hire purchase contracts 438,020 542,443
438,020 579,175

The bank overdraft is secured by a first legal charge from the holding company over freehold property at Unit F Dorset Road Industrial Estate, an all moneys guarantee from a subsidiary and the holding company, an all moneys guarantee from the director for a principle amount of £90,000 plus interest and an unlimited debenture from Kent Coach Limited.

The hire purchase creditor is secured against the assets to which the liability relates.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

As at the balance sheet date there were directors' current account balances totalling £4,123 (2022: £22,208).