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Company No: 02847296 (England and Wales)

ALANSWAY COACHES LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

ALANSWAY COACHES LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

ALANSWAY COACHES LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
ALANSWAY COACHES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTORS Mrs A L Ellison
Mr K I French (Appointed 18 July 2023)
Mr Y Pain
Mr R L Scant (Appointed 18 July 2023)
SECRETARY Mrs J D Tucker
REGISTERED OFFICE King Charles Business Park Old Newton Road
Heathfield
Newton Abbot
TQ12 6UT
England
United Kingdom
COMPANY NUMBER 02847296 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
ALANSWAY COACHES LIMITED

BALANCE SHEET

As at 31 October 2023
ALANSWAY COACHES LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,761,858 1,625,220
1,761,858 1,625,220
Current assets
Stocks 11,000 11,000
Debtors 4 110,250 55,088
Cash at bank and in hand 303,664 290,973
424,914 357,061
Creditors: amounts falling due within one year 5 ( 424,974) ( 401,643)
Net current liabilities (60) (44,582)
Total assets less current liabilities 1,761,798 1,580,638
Creditors: amounts falling due after more than one year 6 ( 393,997) ( 438,449)
Provision for liabilities ( 289,909) ( 262,731)
Net assets 1,077,892 879,458
Capital and reserves
Called-up share capital 7 20,000 20,000
Profit and loss account 1,057,892 859,458
Total shareholders' funds 1,077,892 879,458

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Alansway Coaches Limited (registered number: 02847296) were approved and authorised for issue by the Board of Directors on 16 April 2024. They were signed on its behalf by:

Mrs A L Ellison
Director
ALANSWAY COACHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
ALANSWAY COACHES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alansway Coaches Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England & Wales. The address of the Company's registered office is King Charles Business Park, Old Newton Road, Heathfield, Newton Abbot, TQ12 6UT.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when services are provided.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 6 - 7 years straight line
Vehicles 4 - 13 years straight line
Office equipment 6 - 7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 60 51

3. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 November 2022 515,636 244,266 1,959,722 98,584 2,818,208
Additions 0 21,150 373,623 950 395,723
Disposals 0 0 ( 256,111) 0 ( 256,111)
At 31 October 2023 515,636 265,416 2,077,234 99,534 2,957,820
Accumulated depreciation
At 01 November 2022 85,710 216,561 797,714 93,003 1,192,988
Charge for the financial year 5,473 8,723 191,292 5,724 211,212
Disposals 0 0 ( 208,238) 0 ( 208,238)
At 31 October 2023 91,183 225,284 780,768 98,727 1,195,962
Net book value
At 31 October 2023 424,453 40,132 1,296,466 807 1,761,858
At 31 October 2022 429,926 27,705 1,162,008 5,581 1,625,220

Included within the net book value of land and buildings above is £424,453 (2022 - £429,926) in respect of freehold land and buildings.

4. Debtors

2023 2022
£ £
Trade debtors 54,988 29,274
Corporation tax 0 1,470
Other debtors 55,262 24,344
110,250 55,088

5. Creditors: amounts falling due within one year

2023 2022
£ £
Accruals 52,083 68,881
Taxation and social security 102,141 26,184
Obligations under finance leases and hire purchase contracts 270,750 288,221
Other creditors 0 18,357
424,974 401,643

Hire Purchase borrowings are secured on the individual assets taken out on purchase.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts 393,997 438,449

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2,000 C ordinary shares of £ 1.00 each 2,000 2,000
2,000 D ordinary shares of £ 1.00 each 2,000 2,000
10,200 A ordinary shares of £ 1.00 each 10,200 10,200
4,800 B ordinary shares of £ 1.00 each (2022: 5,300 shares of £ 1.00 each) 4,800 5,300
250 E ordinary shares of £ 1.00 each (2022: 500 shares of £ 1.00 each) 250 500
250 F ordinary shares of £ 1.00 each (2022: nil shares) 250 0
250 G ordinary shares of £ 1.00 each (2022: nil shares) 250 0
250 H ordinary shares of £ 1.00 each (2022: nil shares) 250 0
20,000 20,000

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Advances to directors b/fwd 0 0
Add : Advances made during the year 16,176 0
Less : Repayments during the year (2,000) 0
Balance carried forward 14,176 0

Other related party transactions

2023 2022
£ £
Management charges received from associated companies. 40,061 23,624