Caldew Coaches Limited 03989508 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is specialist passenger transport. Digita Accounts Production Advanced 6.30.9574.0 true 03989508 2022-06-01 2023-05-31 03989508 2023-05-31 03989508 core:RetainedEarningsAccumulatedLosses 2023-05-31 03989508 core:ShareCapital 2023-05-31 03989508 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-05-31 03989508 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-05-31 03989508 core:CurrentFinancialInstruments 2023-05-31 03989508 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 03989508 core:Non-currentFinancialInstruments 2023-05-31 03989508 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 03989508 core:ConstructionInProgressAssetsUnderConstruction 2023-05-31 03989508 core:FurnitureFittingsToolsEquipment 2023-05-31 03989508 core:LandBuildings 2023-05-31 03989508 core:MotorVehicles 2023-05-31 03989508 core:OtherPropertyPlantEquipment 2023-05-31 03989508 bus:SmallEntities 2022-06-01 2023-05-31 03989508 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 03989508 bus:FullAccounts 2022-06-01 2023-05-31 03989508 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 03989508 bus:RegisteredOffice 2022-06-01 2023-05-31 03989508 bus:CompanySecretaryDirector1 2022-06-01 2023-05-31 03989508 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 03989508 core:ConstructionInProgressAssetsUnderConstruction 2022-06-01 2023-05-31 03989508 core:FurnitureFittings 2022-06-01 2023-05-31 03989508 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 03989508 core:LandBuildings 2022-06-01 2023-05-31 03989508 core:MotorVehicles 2022-06-01 2023-05-31 03989508 core:OfficeEquipment 2022-06-01 2023-05-31 03989508 core:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 03989508 core:PlantMachinery 2022-06-01 2023-05-31 03989508 countries:EnglandWales 2022-06-01 2023-05-31 03989508 2022-05-31 03989508 core:ConstructionInProgressAssetsUnderConstruction 2022-05-31 03989508 core:FurnitureFittingsToolsEquipment 2022-05-31 03989508 core:LandBuildings 2022-05-31 03989508 core:MotorVehicles 2022-05-31 03989508 core:OtherPropertyPlantEquipment 2022-05-31 03989508 2021-06-01 2022-05-31 03989508 2022-05-31 03989508 core:RetainedEarningsAccumulatedLosses 2022-05-31 03989508 core:ShareCapital 2022-05-31 03989508 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-05-31 03989508 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-05-31 03989508 core:CurrentFinancialInstruments 2022-05-31 03989508 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 03989508 core:Non-currentFinancialInstruments 2022-05-31 03989508 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 03989508 core:ConstructionInProgressAssetsUnderConstruction 2022-05-31 03989508 core:FurnitureFittingsToolsEquipment 2022-05-31 03989508 core:LandBuildings 2022-05-31 03989508 core:MotorVehicles 2022-05-31 03989508 core:OtherPropertyPlantEquipment 2022-05-31 iso4217:GBP xbrli:pure

Company Registration number: 03989508

Caldew Coaches Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended 31 May 2023

 

Caldew Coaches Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 9

 

Caldew Coaches Limited

Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

429,152

462,969

Current assets

 

Debtors

5

34,281

100,498

Cash at bank and in hand

 

48,148

100,754

 

82,429

201,252

Creditors: Amounts falling due within one year

6

(228,588)

(259,019)

Net current liabilities

 

(146,159)

(57,767)

Total assets less current liabilities

 

282,993

405,202

Creditors: Amounts falling due after more than one year

6

(167,576)

(257,007)

Provisions for liabilities

(81,539)

(59,666)

Net assets

 

33,878

88,529

Capital and reserves

 

Called up share capital

1,300

1,300

Retained earnings

32,578

87,229

Shareholders' funds

 

33,878

88,529

 

Caldew Coaches Limited

Balance Sheet as at 31 May 2023 (continued)

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 03989508

Approved and authorised by the Board on 24 January 2024 and signed on its behalf by:
 

.........................................
Mr H B McKerrell
Company secretary and director

 

Caldew Coaches Limited

Notes to the financial statements for the Year Ended 31 May 2023

1

GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:

6 Caldew Drive
Dalston
Carlisle
CA5 7NS
 

These financial statements were authorised for issue by the Board on 24 January 2024.

2

ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

 

Caldew Coaches Limited

Notes to the financial statements for the Year Ended 31 May 2023 (continued)

2

ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, 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 specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Caldew Coaches Limited

Notes to the financial statements for the Year Ended 31 May 2023 (continued)

2

ACCOUNTING POLICIES (continued)

Asset class

Depreciation method and rate

Improvements to property

10% Straight line

Plant and machinery

20% Reducing balance

Fixtures and fittings

15% Reducing balance

Motor vehicles

10% Reducing balance

Office equipment

20% Reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Finance leases and hire purchase contracts

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of their fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Caldew Coaches Limited

Notes to the financial statements for the Year Ended 31 May 2023 (continued)

2

ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 18 (2022 - 18).

 

Caldew Coaches Limited

Notes to the financial statements for the Year Ended 31 May 2023 (continued)

4

TANGIBLE ASSETS

Improvements to property
£

Fixtures and fittings
£

Motor vehicles
 £

Office equipment
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2022

54,205

2,938

761,849

3,532

2,429

824,953

Additions

-

-

13,995

-

-

13,995

At 31 May 2023

54,205

2,938

775,844

3,532

2,429

838,948

Depreciation

At 1 June 2022

54,205

2,938

300,033

2,379

2,429

361,984

Charge for the year

-

-

47,581

231

-

47,812

At 31 May 2023

54,205

2,938

347,614

2,610

2,429

409,796

Carrying amount

At 31 May 2023

-

-

428,230

922

-

429,152

At 31 May 2022

-

-

461,816

1,153

-

462,969

5

DEBTORS

Current

2023
£

2022
£

Trade debtors

27,654

52,097

Other debtors

6,627

48,401

 

34,281

100,498

 

Caldew Coaches Limited

Notes to the financial statements for the Year Ended 31 May 2023 (continued)

6

CREDITORS

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

87,197

85,135

Trade creditors

 

6,292

11,774

Taxation and social security

 

5,900

3,226

Accruals and deferred income

 

4,940

4,721

Other creditors

 

124,259

154,163

 

228,588

259,019


Creditors include net obligations under hire purchase contracts which are secured of £77,197 (2022 - £75,390).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

167,576

257,007


Creditors include net obligations under hire purchase contracts which are secured of £147,003 (2022 - £226,476).

 

Caldew Coaches Limited

Notes to the financial statements for the Year Ended 31 May 2023 (continued)

7

LOANS AND BORROWINGS

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

20,573

30,531

Hire purchase contracts

147,003

226,476

167,576

257,007

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

9,745

Hire purchase contracts

77,197

75,390

87,197

85,135