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
Blakes Coaches Limited
Company Information
for the year ended 31 December 2023
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
Blakes Coaches Limited
Statement of financial position
as at 31 December 2023
Tangible assets
2,430,794
2,466,654
Cash at bank and in hand
144,631
42,603
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
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
Blakes Coaches Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
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.
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.
Blakes Coaches Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill
At 31 December 2023
30,000
At 31 December 2023
30,000
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
At 1 January 2023
-
753,712
753,712
Charge for the year
-
117,194
117,194
At 31 December 2023
-
870,906
870,906
At 31 December 2023
209,856
2,220,938
2,430,794
At 31 December 2022
197,986
2,268,668
2,466,654
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
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
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
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).