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REGISTERED NUMBER: 05736753 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PIKES COACHES LIMITED

PIKES COACHES LIMITED (REGISTERED NUMBER: 05736753)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PIKES COACHES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr J S Pike
Mrs J A Pike
Mr R S Pike
Mr C J Pike





SECRETARY: Southern Corporate Services Limited





REGISTERED OFFICE: Kingsgate House
North Wing, Ground Floor
Newbury Road
Andover
Hampshire
SP10 4DU





BUSINESS ADDRESS: 77a Scott Close
Walworth Industrial Estate
Andover
Hampshire
SP10 5NU





REGISTERED NUMBER: 05736753 (England and Wales)






PIKES COACHES LIMITED (REGISTERED NUMBER: 05736753)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 993,421 926,587

CURRENT ASSETS
Stocks 15,841 16,546
Debtors 6 243,703 254,966
Cash at bank 1,114,322 1,004,068
1,373,866 1,275,580
CREDITORS
Amounts falling due within one year 7 537,666 506,152
NET CURRENT ASSETS 836,200 769,428
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,829,621

1,696,015

PROVISIONS FOR LIABILITIES 148,070 135,059
NET ASSETS 1,681,551 1,560,956

CAPITAL AND RESERVES
Called up share capital 8 8,100 8,100
Retained earnings 1,673,451 1,552,856
SHAREHOLDERS' FUNDS 1,681,551 1,560,956

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:





Mr J S Pike - Director


PIKES COACHES LIMITED (REGISTERED NUMBER: 05736753)

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


1. STATUTORY INFORMATION

Pikes Coaches 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Plant and Equipment - 15% on reducing balance

All fixed assets are initially recorded at cost.

Depreciation is not charged on leasehold property as it is deemed to be immaterial and the directors believe the property to be free from impairment. The useful economic life of the leasehold property is expected to be in excess of 50 years.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

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

Taxation
Taxation for the year 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 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.

PIKES COACHES LIMITED (REGISTERED NUMBER: 05736753)

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


3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities 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.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes. Contributions payable to the pension schemes are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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 the profit or loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

5. TANGIBLE FIXED ASSETS
Long Office Motor Plant and
leasehold equipment vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 195,000 8,651 1,768,798 35,928 2,008,377
Additions - - 205,000 1,565 206,565
Disposals - - (38,250 ) - (38,250 )
At 31 March 2023 195,000 8,651 1,935,548 37,493 2,176,692
DEPRECIATION
At 1 April 2022 - 4,427 1,059,853 17,510 1,081,790
Charge for year - 633 119,154 2,861 122,648
Eliminated on disposal - - (21,167 ) - (21,167 )
At 31 March 2023 - 5,060 1,157,840 20,371 1,183,271
NET BOOK VALUE
At 31 March 2023 195,000 3,591 777,708 17,122 993,421
At 31 March 2022 195,000 4,224 708,945 18,418 926,587

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 196,002 178,256
Other debtors 47,701 76,710
243,703 254,966

PIKES COACHES LIMITED (REGISTERED NUMBER: 05736753)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in other debtors is £6,401 (2022: £21,720) in relation to prepayments and accrued income.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 56,765 61,079
Taxation and social security 46,939 66,344
Other creditors 433,962 378,729
537,666 506,152

Included in other creditors is £7,733 (2022: £5,177) in relation to accruals and deferred income.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
8,100 Ordinary £1 8,100 8,100

9. OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £14,820 (2022: £34,580).

This amount is in relation to operating lease commitments which are payable over the next year (2022: 1 to 2 years).