Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2022-11-01falseMini bus hire22true 04570121 2022-11-01 2023-10-31 04570121 2021-11-01 2022-10-31 04570121 2023-10-31 04570121 2022-10-31 04570121 c:Director1 2022-11-01 2023-10-31 04570121 d:MotorVehicles 2022-11-01 2023-10-31 04570121 d:MotorVehicles 2023-10-31 04570121 d:MotorVehicles 2022-10-31 04570121 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04570121 d:FurnitureFittings 2022-11-01 2023-10-31 04570121 d:FurnitureFittings 2023-10-31 04570121 d:FurnitureFittings 2022-10-31 04570121 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04570121 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 04570121 d:Goodwill 2023-10-31 04570121 d:Goodwill 2022-10-31 04570121 d:CurrentFinancialInstruments 2023-10-31 04570121 d:CurrentFinancialInstruments 2022-10-31 04570121 d:Non-currentFinancialInstruments 2023-10-31 04570121 d:Non-currentFinancialInstruments 2022-10-31 04570121 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 04570121 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 04570121 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 04570121 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 04570121 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 04570121 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 04570121 d:ShareCapital 2023-10-31 04570121 d:ShareCapital 2022-10-31 04570121 d:RetainedEarningsAccumulatedLosses 2023-10-31 04570121 d:RetainedEarningsAccumulatedLosses 2022-10-31 04570121 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-10-31 04570121 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-10-31 04570121 c:FRS102 2022-11-01 2023-10-31 04570121 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 04570121 c:FullAccounts 2022-11-01 2023-10-31 04570121 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04570121 2 2022-11-01 2023-10-31 04570121 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-10-31 04570121 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-10-31 04570121 d:LeasedAssetsHeldAsLessee 2023-10-31 04570121 d:LeasedAssetsHeldAsLessee 2022-10-31 04570121 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 04570121









ARROWLINE MINIBUSES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
ARROWLINE MINIBUSES LIMITED
REGISTERED NUMBER: 04570121

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
14,313
17,840

  
14,313
17,840

Current assets
  

Debtors: amounts falling due within one year
 6 
38,934
4,371

Cash at bank and in hand
 7 
5,655
28,551

  
44,589
32,922

Creditors: amounts falling due within one year
 8 
(24,740)
(14,703)

Net current assets
  
 
 
19,849
 
 
18,219

Total assets less current liabilities
  
34,162
36,059

Creditors: amounts falling due after more than one year
 9 
(8,821)
(14,556)

  

Net assets
  
25,341
21,503


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
25,241
21,403

  
25,341
21,503


Page 1

 
ARROWLINE MINIBUSES LIMITED
REGISTERED NUMBER: 04570121
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 April 2024.




................................................
Mr D N Lowe
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ARROWLINE MINIBUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The Company is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of minibus hire. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ARROWLINE MINIBUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
20% reducing balance
Fixtures and fittings
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
ARROWLINE MINIBUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
ARROWLINE MINIBUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 November 2022
7,500



At 31 October 2023

7,500



Amortisation


At 1 November 2022
7,500



At 31 October 2023

7,500



Net book value



At 31 October 2023
-



At 31 October 2022
-



Page 6

 
ARROWLINE MINIBUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 November 2022
63,674
5,258
68,932



At 31 October 2023

63,674
5,258
68,932



Depreciation


At 1 November 2022
46,650
4,442
51,092


Charge for the year on owned assets
3,404
123
3,527



At 31 October 2023

50,054
4,565
54,619



Net book value



At 31 October 2023
13,620
693
14,313



At 31 October 2022
17,024
816
17,840

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
7,226
9,032

7,226
9,032

Page 7

 
ARROWLINE MINIBUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
2,902

Other debtors
38,550
1,172

Prepayments and accrued income
384
297

38,934
4,371


Included within other debtors due within one year is a loan to D N Lowe, the director, amounting to £27,970 (2022 - £Nil).




7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
5,655
28,551

5,655
28,551



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,006
5,400

Trade creditors
1,843
384

Corporation tax
12,105
2,936

Obligations under finance lease and hire purchase contracts
-
977

Other creditors
2,921
3,691

Accruals and deferred income
1,865
1,315

24,740
14,703


Page 8

 
ARROWLINE MINIBUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
8,821
14,556

8,821
14,556



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,006
5,400

Amounts falling due 1-2 years

Bank loans
8,821
14,556



14,827
19,956



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
5,655
28,551




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand. 


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £204 (2022 - £141) . Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
ARROWLINE MINIBUSES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

13.


Controlling party

The Company is controlled by the director, D N Lowe, by virtue of his shareholding as described in the Director's report.

 
Page 10