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Company Registration No. 4521530 (England and Wales)
Blakes Coaches Limited Annual report and financial accounts for the year ended 31 December 2023
Blakes Coaches Limited Annual report and financial accounts Contents
Page
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Blakes Coaches Limited Company Information for the year ended 31 December 2023
Directors
D Blake J Blake
Company Number
4521530 (England and Wales)
Registered Office
Orchard House East Anstey Tiverton Devon EX16 9JJ
Accountants
JD Accountants (South West) Ltd Suite 2, Riverside Court Castle Street Barnstaple Devon EX31 1DR
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Blakes Coaches Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,430,794 
2,466,654 
Current assets
Inventories
82,728 
81,117 
Debtors
157,357 
172,470 
Cash at bank and in hand
144,631 
42,603 
384,716 
296,190 
Creditors: amounts falling due within one year
(746,498)
(682,785)
Net current liabilities
(361,782)
(386,595)
Total assets less current liabilities
2,069,012 
2,080,059 
Creditors: amounts falling due after more than one year
(388,962)
(803,585)
Provisions for liabilities
Deferred tax
(384,106)
(369,638)
Net assets
1,295,944 
906,836 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
1,295,942 
906,834 
Shareholders' funds
1,295,944 
906,836 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by
D Blake Director Company Registration No. 4521530
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Blakes Coaches Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Blakes Coaches Limited is a private company, limited by shares, registered in England and Wales, registration number 4521530. The registered office is Orchard House, East Anstey, Tiverton, Devon, EX16 9JJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Business Review
The directors of the company confirm that the company has encountered a challenging period as a result of the Covid-19 pandemic. To ensure the financial stability of the company the directors have secured all government support measures available to them, negotiated finance repayment holidays, strived to reduce costs wherever possible, and put in place plans to reduce the size of the fleet. Having won five additional local authority school contracts in the year and with the benefit of a strong team, the directors believe that the company is well placed to take full advantage of the improvement in it's trade, that will occur.
Going concern
The company's accounts have been prepared on a going concern basis. Having reviewed the financial position for the company the directors therefore believe that preparation of the accounts on a going concern basis to be appropriate.
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Blakes Coaches Limited Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2023
30,000 
At 31 December 2023
30,000 
Amortisation
At 1 January 2023
30,000 
At 31 December 2023
30,000 
Net book value
At 31 December 2023
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
197,986 
3,022,380 
3,220,366 
Additions
11,870 
69,464 
81,334 
At 31 December 2023
209,856 
3,091,844 
3,301,700 
Depreciation
At 1 January 2023
- 
753,712 
753,712 
Charge for the year
- 
117,194 
117,194 
At 31 December 2023
- 
870,906 
870,906 
Net book value
At 31 December 2023
209,856 
2,220,938 
2,430,794 
At 31 December 2022
197,986 
2,268,668 
2,466,654 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
60,842 
88,189 
Accrued income and prepayments
63,458 
61,376 
Other debtors
33,057 
22,905 
157,357 
172,470 
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Blakes Coaches Limited Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
117,905 
158,911 
Obligations under finance leases and hire purchase contracts
335,823 
322,199 
Trade creditors
125,726 
121,158 
Taxes and social security
22,439 
19,122 
Loans from directors
51,322 
59,185 
Accruals
93,283 
2,210 
746,498 
682,785 
The directors have provided personal guarantees as security for the bank loans and HP agreements.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
173,391 
393,165 
Obligations under finance leases and hire purchase contracts
215,571 
410,420 
388,962 
803,585 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Average number of employees
During the year the average number of employees was 19 (2022: 19).
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