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COMPANY REGISTRATION NUMBER: 06145911
Ellenvale Coach Company Limited
Filleted Unaudited Financial Statements
31 March 2023
Ellenvale Coach Company Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
202,063
236,490
Current assets
Stocks
40,000
50,000
Debtors
6
105,822
162,433
Cash at bank and in hand
155,236
144,272
---------
---------
301,058
356,705
Creditors: amounts falling due within one year
7
178,557
213,613
---------
---------
Net current assets
122,501
143,092
---------
---------
Total assets less current liabilities
324,564
379,582
Creditors: amounts falling due after more than one year
8
119,088
166,493
Provisions
Taxation including deferred tax
38,392
44,933
---------
---------
Net assets
167,084
168,156
---------
---------
Capital and reserves
Called up share capital
8
8
Profit and loss account
167,076
168,148
---------
---------
Shareholders funds
167,084
168,156
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ellenvale Coach Company Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 11 March 2024 , and are signed on behalf of the board by:
Mr S J Berwick
Mr S J Berwick
Director
Director
Miss V Berwick
Director
Company registration number: 06145911
Ellenvale Coach Company Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Sheila Fell Close, Aspatria, Wigton, Cumbria, CA7 3DA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2022: 23 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2022
1,463
381,071
382,534
Additions
88,920
88,920
Disposals
( 80,108)
( 80,108)
-------
---------
---------
At 31 March 2023
1,463
389,883
391,346
-------
---------
---------
Depreciation
At 1 April 2022
1,256
144,788
146,044
Charge for the year
52
67,303
67,355
Disposals
( 24,116)
( 24,116)
-------
---------
---------
At 31 March 2023
1,308
187,975
189,283
-------
---------
---------
Carrying amount
At 31 March 2023
155
201,908
202,063
-------
---------
---------
At 31 March 2022
207
236,283
236,490
-------
---------
---------
6. Debtors
2023
2022
£
£
Trade debtors
105,822
71,267
Other debtors
91,166
---------
---------
105,822
162,433
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,000
8,000
Trade creditors
79,812
39,482
Corporation tax
15,105
Social security and other taxes
5,624
5,499
Other creditors
70,016
160,632
---------
---------
178,557
213,613
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
24,000
32,000
Other creditors
95,088
134,493
---------
---------
119,088
166,493
---------
---------
9. Related party transactions
The company was under the control of Mr S J Berwick , Mrs J Berwick, Miss V Berwick & Mr S J Berwick Jnr throughout the current and previous year. During the year dividends of £ 50,976 (2022 - £50,976) were paid to Messrs Berwick. On the balance sheet date the company owed Messrs Berwick £ 23,970 (2022 - £103,067) and this is included in Other creditors.