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REGISTERED NUMBER: 00345221 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th September 2023

for

Wright Bro's Coaches Limited

Wright Bro's Coaches Limited (Registered number: 00345221)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wright Bro's Coaches Limited

Company Information
for the Year Ended 30th September 2023







DIRECTORS: J G Wright
C I Wright





SECRETARY: J G Wright





REGISTERED OFFICE: Central Garage
Nenthead
Alston
Cumbria
CA9 3NP





REGISTERED NUMBER: 00345221 (England and Wales)





ACCOUNTANTS: Noble Accountants ltd
Tarn Villa
Culgaith
Penrith
Cumbria
CA10 1QL

Wright Bro's Coaches Limited (Registered number: 00345221)

Balance Sheet
30th September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 286,674 245,699

CURRENT ASSETS
Stocks 4,943 4,500
Debtors 5 61,206 106,871
Cash at bank and in hand 115,594 115,665
181,743 227,036
CREDITORS
Amounts falling due within one year 6 97,597 115,640
NET CURRENT ASSETS 84,146 111,396
TOTAL ASSETS LESS CURRENT
LIABILITIES

370,820

357,095

CREDITORS
Amounts falling due after more than one
year

7

(119,167

)

(90,567

)

PROVISIONS FOR LIABILITIES (7,916 ) -
NET ASSETS 243,737 266,528

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Other Reserves 63,372 63,372
Retained earnings 179,365 202,156
SHAREHOLDERS' FUNDS 243,737 266,528

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

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

Wright Bro's Coaches Limited (Registered number: 00345221)

Balance Sheet - continued
30th September 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 Board of Directors and authorised for issue on 3rd April 2024 and were signed on its behalf by:




J G Wright - Director



C I Wright - Director


Wright Bro's Coaches Limited (Registered number: 00345221)

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

1. STATUTORY INFORMATION

Wright Bro's 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.

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.

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.
Freehold property - 2% on cost
Short leasehold - in accordance with the lease
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance

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.

Wright Bro's Coaches Limited (Registered number: 00345221)

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

2. 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.

Investment properties
Land and buildings include investment properties. Investment properties are valued in the financial statements at their current market value. No depreciation is provided in respect of freehold investment properties or leasehold investment properties which have more than 20 years of the lease to run.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1st October 2022 140,464 1,525 56,305 835,293 1,033,587
Additions - - - 102,695 102,695
Disposals - - - (120,000 ) (120,000 )
At 30th September 2023 140,464 1,525 56,305 817,988 1,016,282
DEPRECIATION
At 1st October 2022 44,298 1,525 52,855 689,210 787,888
Charge for year 689 - 518 47,065 48,272
Eliminated on disposal - - - (106,552 ) (106,552 )
At 30th September 2023 44,987 1,525 53,373 629,723 729,608
NET BOOK VALUE
At 30th September 2023 95,477 - 2,932 188,265 286,674
At 30th September 2022 96,166 - 3,450 146,083 245,699

Included in motor vehicles are assets held on hire purchase contracts with a net book value of £151,777
(2022: £88,221). The depreciation charge in the year arising on these assets is £37,944 (2022 £22,055).

Wright Bro's Coaches Limited (Registered number: 00345221)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,308 95,226
Other debtors 26,898 11,645
61,206 106,871

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,000 12,000
Hire purchase contracts 43,400 25,400
Trade creditors 38,842 37,996
Taxation and social security 2,090 19,129
Other creditors 1,265 21,115
97,597 115,640

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,000 32,000
Hire purchase contracts 99,167 58,567
119,167 90,567

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 142,567 83,967