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REGISTERED NUMBER: 06767923 (England and Wales)













THE GREEN BUS COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023






THE GREEN BUS COMPANY LIMITED (REGISTERED NUMBER: 06767923)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


THE GREEN BUS COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTOR: I A G Mack





REGISTERED OFFICE: 177-179 New Town Row
Birmingham
West Midlands
B6 4QZ





REGISTERED NUMBER: 06767923 (England and Wales)





ACCOUNTANTS: CUTTER & CO LTD
CHARTERED ACCOUNTANTS
3 Lyttleton Court
Birmingham Street
Halesowen
West Midlands
B63 3HN

THE GREEN BUS COMPANY LIMITED (REGISTERED NUMBER: 06767923)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 16,079 3,823
16,079 3,823

CURRENT ASSETS
Debtors 6 1,045,488 1,300,416
Cash at bank 123,388 44,366
1,168,876 1,344,782
CREDITORS
Amounts falling due within one year 7 884,586 1,041,168
NET CURRENT ASSETS 284,290 303,614
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,369

307,437

CREDITORS
Amounts falling due after more than one
year

8

(22,500

)

(33,206

)

PROVISIONS FOR LIABILITIES (319 ) -
NET ASSETS 277,550 274,231

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 277,450 274,131
277,550 274,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE GREEN BUS COMPANY LIMITED (REGISTERED NUMBER: 06767923)

BALANCE SHEET - continued
31ST JULY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th July 2024 and were signed by:





I A G Mack - Director


THE GREEN BUS COMPANY LIMITED (REGISTERED NUMBER: 06767923)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

The Green Bus Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and has been amortised on a systematic basis over its expected life.

Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website 3 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on cost
Computer and office equipment - 33% on cost


THE GREEN BUS COMPANY LIMITED (REGISTERED NUMBER: 06767923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

THE GREEN BUS COMPANY LIMITED (REGISTERED NUMBER: 06767923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st August 2022
and 31st July 2023 245,864 86,711 332,575
AMORTISATION
At 1st August 2022
and 31st July 2023 245,864 86,711 332,575
NET BOOK VALUE
At 31st July 2023 - - -
At 31st July 2022 - - -

5. TANGIBLE FIXED ASSETS
Computer
Improvements Fixtures and
to Plant and and office
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st August 2022 - 28,425 9,887 6,793 45,105
Additions 4,300 22,438 - - 26,738
Disposals - (6,801 ) - - (6,801 )
At 31st July 2023 4,300 44,062 9,887 6,793 65,042
DEPRECIATION
At 1st August 2022 - 24,978 9,887 6,417 41,282
Charge for year 208 11,112 - 334 11,654
Eliminated on disposal - (3,973 ) - - (3,973 )
At 31st July 2023 208 32,117 9,887 6,751 48,963
NET BOOK VALUE
At 31st July 2023 4,092 11,945 - 42 16,079
At 31st July 2022 - 3,447 - 376 3,823

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 129,641 589,041
Amounts owed by group undertakings 457,262 662,570
Other debtors 458,585 48,805
1,045,488 1,300,416

THE GREEN BUS COMPANY LIMITED (REGISTERED NUMBER: 06767923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 55,520
Hire purchase contracts - 27,826
Trade creditors 106,166 105,286
Amounts owed to group undertakings 102,073 680,026
Taxation and social security 13,713 943
Other creditors 652,634 171,567
884,586 1,041,168

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,500 33,206

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase - 27,826

Hire purchase contracts are secured against the assets to which they relate.

10. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £200,000 (2022: £nil).

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £119,085 (2022 - £110,000) were paid to the director .

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Birmingham Busworks Limited is controlled by the director of The Green Bus Company Limited.

Services, goods and assets were purchased from Birmingham Busworks Limited to the value of £363,000 (2022: £nil). At the year end £Nil (2022: £Nil) was owed to The Green Bus Company Ltd for these purchases.

Services were sold to Birmingham Busworks Limited to the value of £647,500 (2022: £363,000). At the year end £Nil (2022: £Nil) was owed from Birmingham Busworks Limited for these sales.

During the year and the previous year, funds were loaned to Birmingham Busworks Limited and at the year end the company still owed £422,786 (2022: £25,484). No interest is being charged on the loan and no set repayment terms have been placed on it.

THE GREEN BUS COMPANY LIMITED (REGISTERED NUMBER: 06767923)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I A G Mack.

The ultimate parent company is Birmingham City Transport Limited, a company registered in England and Wales.