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REGISTERED NUMBER: SC460850 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Clarke's Coaches Ltd

Clarke's Coaches Ltd (Registered number: SC460850)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clarke's Coaches Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: James M Clarke





REGISTERED OFFICE: Kingarth
Cloch Road
Gourock
Renfrewshire
PA19 1AY





REGISTERED NUMBER: SC460850 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Clarke's Coaches Ltd (Registered number: SC460850)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 576,094 677,365

CURRENT ASSETS
Debtors 5 17,918 71,041
Cash at bank and in hand 89,715 66,918
107,633 137,959
CREDITORS
Amounts falling due within one year 6 222,561 275,475
NET CURRENT LIABILITIES (114,928 ) (137,516 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

461,166

539,849

CREDITORS
Amounts falling due after more than one
year

7

(243,155

)

(423,404

)

PROVISIONS FOR LIABILITIES 8 (109,458 ) (85,119 )
NET ASSETS 108,553 31,326

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 108,453 31,226
SHAREHOLDERS' FUNDS 108,553 31,326

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 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.

Clarke's Coaches Ltd (Registered number: SC460850)

Balance Sheet - continued
31 March 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 13 February 2024 and were signed by:





James M Clarke - Director


Clarke's Coaches Ltd (Registered number: SC460850)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Clarke's Coaches Ltd is a private company, limited by shares , registered in Scotland. 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. 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33.33% on cost

Financial instruments
Basic financial instruments, including 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 administrative expenses.

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.


Clarke's Coaches Ltd (Registered number: SC460850)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 18 ) .

Clarke's Coaches Ltd (Registered number: SC460850)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 2,925 970,760 4,271 977,956
Additions - - 499 499
At 31 March 2023 2,925 970,760 4,770 978,455
DEPRECIATION
At 1 April 2022 1,705 294,615 4,271 300,591
Charge for year 182 101,422 166 101,770
At 31 March 2023 1,887 396,037 4,437 402,361
NET BOOK VALUE
At 31 March 2023 1,038 574,723 333 576,094
At 31 March 2022 1,220 676,145 - 677,365

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 851,760
DEPRECIATION
At 1 April 2022 237,749
Charge for year 86,363
At 31 March 2023 324,112
NET BOOK VALUE
At 31 March 2023 527,648
At 31 March 2022 614,011

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,805 41,770
Other debtors 9,113 29,271
17,918 71,041

Clarke's Coaches Ltd (Registered number: SC460850)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 156,925 181,663
Trade creditors 5,732 2,673
Taxation and social security 9,225 1,786
Other creditors 40,679 79,353
222,561 275,475

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 21,631 31,631
Hire purchase contracts 221,524 391,773
243,155 423,404

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 109,458 85,119

Deferred
tax
£   
Balance at 1 April 2022 85,119
Provided during year 24,339
Balance at 31 March 2023 109,458

9. CALLED UP SHARE CAPITAL

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

10. ULTIMATE CONTROLLING PARTY

The controlling party is James M Clarke.