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REGISTERED NUMBER: 05346791 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30th June 2023

for

London Mini Coaches Limited

London Mini Coaches Limited (Registered number: 05346791)






Contents of the Financial Statements
for the Year Ended 30th June 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


London Mini Coaches Limited (Registered number: 05346791)

Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 472,047 527,736

CURRENT ASSETS
Debtors 6 706,440 1,011,786
Cash in hand 245 71
706,685 1,011,857
CREDITORS
Amounts falling due within one year 7 319,814 782,342
NET CURRENT ASSETS 386,871 229,515
TOTAL ASSETS LESS CURRENT
LIABILITIES

858,918

757,251

CREDITORS
Amounts falling due after more than one
year

8

(528,204

)

(500,907

)

PROVISIONS FOR LIABILITIES (118,012 ) (78,251 )
NET ASSETS 212,702 178,093

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 212,602 177,993
SHAREHOLDERS' FUNDS 212,702 178,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

London Mini Coaches Limited (Registered number: 05346791)

Balance Sheet - continued
30th June 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 28th March 2024 and were signed by:





Mr M S Anderson - Director


London Mini Coaches Limited (Registered number: 05346791)

Notes to the Financial Statements
for the Year Ended 30th June 2023

1. STATUTORY INFORMATION

London Mini Coaches Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05346791

Registered office: 9 Carlton Road
New Malden
Surrey
KT3 3AJ

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.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.
Coaches - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

London Mini Coaches Limited (Registered number: 05346791)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

3. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies 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. Financial liabilities classified as payable within one year are not amortised.

Financial instruments
The company only enters into basic financial instrument 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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.

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.

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.

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.

London Mini Coaches Limited (Registered number: 05346791)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

3. ACCOUNTING POLICIES - continued

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.

Amounts owed by group undertakings
The amounts included within 'Group undertakings' are intercompanies loans. The repayment of these loans are expected to due after one year. These loans have reflected using discounted value using rate 0.5% per year.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 12 ) .

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
Coaches machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st July 2022
and 30th June 2023 753,705 38,995 18,650 12,338 823,688
DEPRECIATION
At 1st July 2022 241,358 25,346 17,568 11,680 295,952
Charge for year 51,347 3,413 271 658 55,689
At 30th June 2023 292,705 28,759 17,839 12,338 351,641
NET BOOK VALUE
At 30th June 2023 461,000 10,236 811 - 472,047
At 30th June 2022 512,347 13,649 1,082 658 527,736

London Mini Coaches Limited (Registered number: 05346791)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Coaches
£   
COST
At 1st July 2022
and 30th June 2023 742,000
DEPRECIATION
At 1st July 2022 229,777
Charge for year 51,223
At 30th June 2023 281,000
NET BOOK VALUE
At 30th June 2023 461,000
At 30th June 2022 512,223

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 93,015 508,117
VAT 30,161 18,249
Prepayments 39,279 40,429
162,455 566,795

Amounts falling due after more than one year:
Trade debtors 516,448 417,454
Amounts owed by group undertakings 27,537 27,537
543,985 444,991

Aggregate amounts 706,440 1,011,786

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 91,962 99,966
Hire purchase contracts (see note 9) 99,491 100,481
Trade creditors 101,000 550,733
Tax 736 -
Social security and other taxes 18,633 23,236
Other creditors 1,342 4,426
Accruals and deferred income 6,650 3,500
319,814 782,342

London Mini Coaches Limited (Registered number: 05346791)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 11,250 10,000
Bank loans - 2-5 years 11,250 25,001
Hire purchase contracts (see note 9) 34,261 131,023
Trade creditors 471,443 334,883
528,204 500,907

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 99,491 100,481
Between one and five years 34,261 131,023
133,752 231,504

10. SECURED DEBTS

The assets secured on finance agreements are as stated in the fixed asset note.

The company has an overdraft facility secured via a debenture dated 7 April 2005 which incorporates a fixed and floating charge over the company assets.

11. RELATED PARTY DISCLOSURES

The amount of £471,443 (2022: £334,883) included within creditors due after more than one year relates to amounts due to Anderson Tours Ltd.The director, Mr M S Anderson is also a director of Anderson Tours Ltd.

The amount of £516,448 (2022: £417,454) included within debtors due after more than one year relates to amount due from Anderson Travel Limited. The director, Mr M S Anderson is also a director of
Anderson Travel Limited.

The amount of £27,537 (2022: creditor £27,537) included within debtors due after more than one year relates to amount due from Anderson Travel Limited. The director, Mr M S Anderson is also a director of Anderson Travel Limited.

During the year, the company was under the control of the parent company, London Mini Coaches Holdings Limited.