Clydach Mini Travel Limited 09411930 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is provision of transport services for the local councils of Somerset and South Wales. Digita Accounts Production Advanced 6.30.9574.0 true true 09411930 2023-02-01 2024-01-31 09411930 2024-01-31 09411930 core:CurrentFinancialInstruments 2024-01-31 09411930 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 09411930 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 09411930 core:MotorVehicles 2024-01-31 09411930 core:PlantMachinery 2024-01-31 09411930 bus:SmallEntities 2023-02-01 2024-01-31 09411930 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09411930 bus:FilletedAccounts 2023-02-01 2024-01-31 09411930 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09411930 bus:RegisteredOffice 2023-02-01 2024-01-31 09411930 bus:Director1 2023-02-01 2024-01-31 09411930 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09411930 core:MotorVehicles 2023-02-01 2024-01-31 09411930 core:PlantMachinery 2023-02-01 2024-01-31 09411930 countries:AllCountries 2023-02-01 2024-01-31 09411930 2023-01-31 09411930 core:MotorVehicles 2023-01-31 09411930 core:PlantMachinery 2023-01-31 09411930 2022-02-01 2023-01-31 09411930 2023-01-31 09411930 core:CurrentFinancialInstruments 2023-01-31 09411930 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 09411930 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 09411930 core:MotorVehicles 2023-01-31 09411930 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 09411930

Clydach Mini Travel Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Clydach Mini Travel Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Clydach Mini Travel Limited

(Registration number: 09411930)
Statement of Financial Position as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

750,591

601,187

Current assets

 

Debtors

5

149,204

197,635

Cash at bank and in hand

 

14,076

52,307

 

163,280

249,942

Creditors: Amounts falling due within one year

6

(546,686)

(301,268)

Net current liabilities

 

(383,406)

(51,326)

Total assets less current liabilities

 

367,185

549,861

Creditors: Amounts falling due after more than one year

6

(467,813)

(551,076)

Net liabilities

 

(100,628)

(1,215)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(100,728)

(1,315)

Shareholders' deficit

 

(100,628)

(1,215)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 


Mr Brian Griffiths
Director

 

Clydach Mini Travel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Westcotts (SW) LLP
80 Oxford Street
Burnham on Sea
Somerset
TA8 1EF
England and Wales

Principal activity

The principal activity of the company is provision of transport services for the local councils of Somerset and South Wales.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Clydach Mini Travel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Clydach Mini Travel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

7,613

820,565

828,178

Additions

4,852

338,199

343,051

Disposals

-

(139,583)

(139,583)

At 31 January 2024

12,465

1,019,181

1,031,646

Depreciation

At 1 February 2023

4,010

222,981

226,991

Charge for the year

1,137

126,170

127,307

Eliminated on disposal

-

(73,243)

(73,243)

At 31 January 2024

5,147

275,908

281,055

Carrying amount

At 31 January 2024

7,318

743,273

750,591

At 31 January 2023

3,603

597,584

601,187

5

Debtors

2024
£

2023
£

Trade debtors

148,537

133,716

Prepayments

667

63,919

149,204

197,635

 

Clydach Mini Travel Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

240,732

177,881

Trade creditors

 

63,334

6,464

Taxation and social security

 

181,620

60,141

Accruals and deferred income

 

13,500

13,500

Other creditors

 

47,500

43,282

 

546,686

301,268

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

467,813

551,076

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.