6 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 8,000 8,000 8,000 xbrli:pure xbrli:shares iso4217:GBP 03896080 2022-10-01 2023-09-30 03896080 2023-09-30 03896080 2022-09-30 03896080 2021-10-01 2022-09-30 03896080 2022-09-30 03896080 2021-09-30 03896080 core:FurnitureFittings 2022-10-01 2023-09-30 03896080 core:MotorVehicles 2022-10-01 2023-09-30 03896080 bus:Director1 2022-10-01 2023-09-30 03896080 core:FurnitureFittings 2022-09-30 03896080 core:MotorVehicles 2022-09-30 03896080 core:FurnitureFittings 2023-09-30 03896080 core:MotorVehicles 2023-09-30 03896080 core:WithinOneYear 2023-09-30 03896080 core:WithinOneYear 2022-09-30 03896080 core:AfterOneYear 2023-09-30 03896080 core:AfterOneYear 2022-09-30 03896080 core:ShareCapital 2023-09-30 03896080 core:ShareCapital 2022-09-30 03896080 core:RetainedEarningsAccumulatedLosses 2023-09-30 03896080 core:RetainedEarningsAccumulatedLosses 2022-09-30 03896080 core:NetGoodwill 2023-09-30 03896080 core:NetGoodwill 2022-09-30 03896080 core:FurnitureFittings 2022-09-30 03896080 core:MotorVehicles 2022-09-30 03896080 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-09-30 03896080 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2022-09-30 03896080 bus:SmallEntities 2022-10-01 2023-09-30 03896080 bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 03896080 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 03896080 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 03896080 bus:FullAccounts 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 03896080
JONES EXECUTIVE COACHES LIMITED
Filleted Unaudited Financial Statements
30 September 2023
JONES EXECUTIVE COACHES LIMITED
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
8,000
8,000
Tangible assets
6
117,578
183,597
---------
---------
125,578
191,597
Current assets
Debtors
7
54,562
59,390
Cash at bank and in hand
90,328
84,790
---------
---------
144,890
144,180
Creditors: amounts falling due within one year
8
120,160
114,026
---------
---------
Net current assets
24,730
30,154
---------
---------
Total assets less current liabilities
150,308
221,751
Creditors: amounts falling due after more than one year
9
115,716
185,596
Provisions
Taxation including deferred tax
22,340
34,883
---------
---------
Net assets
12,252
1,272
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
11,252
272
--------
-------
Shareholders funds
12,252
1,272
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
JONES EXECUTIVE COACHES LIMITED
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 6 March 2024 , and are signed on behalf of the board by:
Mr. S. Jones
Director
Company registration number: 03896080
JONES EXECUTIVE COACHES LIMITED
Notes to the Financial Statements
Year ended 30th September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 260/268 Chapel Street, Salford, Manchester, M3 5JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
10% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis 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 and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 5 ).
5. Intangible assets
Goodwill
£
Cost
At 1st October 2022 and 30th September 2023
8,000
-------
Amortisation
At 1st October 2022 and 30th September 2023
-------
Carrying amount
At 30th September 2023
8,000
-------
At 30th September 2022
8,000
-------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1st October 2022
17,544
878,060
895,604
Disposals
( 70,000)
( 70,000)
--------
---------
---------
At 30th September 2023
17,544
808,060
825,604
--------
---------
---------
Depreciation
At 1st October 2022
15,300
696,707
712,007
Charge for the year
224
41,570
41,794
Disposals
( 45,775)
( 45,775)
--------
---------
---------
At 30th September 2023
15,524
692,502
708,026
--------
---------
---------
Carrying amount
At 30th September 2023
2,020
115,558
117,578
--------
---------
---------
At 30th September 2022
2,244
181,353
183,597
--------
---------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30th September 2023
53,789
--------
At 30th September 2022
71,718
--------
7. Debtors
2023
2022
£
£
Trade debtors
44,988
47,787
Other debtors
9,574
11,603
--------
--------
54,562
59,390
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
49,411
45,984
Trade creditors
13,770
9,267
Social security and other taxes
28,458
35,595
Other creditors
28,521
23,180
---------
---------
120,160
114,026
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
83,290
132,690
Other creditors
32,426
52,906
---------
---------
115,716
185,596
---------
---------
10. Director's advances, credits and guarantees
Included within other creditors above is a balance of £4,971 owed to the director. In the previous year included within other debtors was an amount of £4,553 owed by its director.
11. Related party transactions
The company was under the control of Mr S. Jones throughout the current and previous period. Mr S. Jones is the managing director.