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REGISTERED NUMBER: SC293378 (Scotland)











Unaudited Financial Statements for the Year Ended 30th November 2023

for

McCall's Coaches Limited

McCall's Coaches Limited (Registered number: SC293378)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


McCall's Coaches Limited

Company Information
for the Year Ended 30th November 2023







DIRECTORS: A G McCall
Mrs K Stannus





SECRETARY: Mrs K Stannus





REGISTERED OFFICE: 26 The Barras
Lochmaben
DG11 1QD





REGISTERED NUMBER: SC293378 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

McCall's Coaches Limited (Registered number: SC293378)

Balance Sheet
30th November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 279,403 302,274
279,403 302,274

CURRENT ASSETS
Debtors 6 35,412 75,995
Cash at bank and in hand 117,164 58,796
152,576 134,791
CREDITORS
Amounts falling due within one year 7 (170,812 ) (233,393 )
NET CURRENT LIABILITIES (18,236 ) (98,602 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,167

203,672

CREDITORS
Amounts falling due after more than one year 8 (87,388 ) (92,946 )
NET ASSETS 173,779 110,726

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 173,677 110,624
173,779 110,726

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th May 2024 and were signed on its behalf by:





Mrs K Stannus - Director


McCall's Coaches Limited (Registered number: SC293378)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

McCall's Coaches Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

McCall's Coaches Limited (Registered number: SC293378)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non 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 transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 25 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st December 2022
and 30th November 2023 14,000
AMORTISATION
At 1st December 2022
and 30th November 2023 14,000
NET BOOK VALUE
At 30th November 2023 -
At 30th November 2022 -

McCall's Coaches Limited (Registered number: SC293378)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st December 2022 53,858 58,870 656,137 768,865
Additions - 1,724 39,565 41,289
Disposals - - (4,000 ) (4,000 )
At 30th November 2023 53,858 60,594 691,702 806,154
DEPRECIATION
At 1st December 2022 - 29,779 436,812 466,591
Charge for year - 4,445 59,715 64,160
Eliminated on disposal - - (4,000 ) (4,000 )
At 30th November 2023 - 34,224 492,527 526,751
NET BOOK VALUE
At 30th November 2023 53,858 26,370 199,175 279,403
At 30th November 2022 53,858 29,091 219,325 302,274

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 35,412 75,995

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 18,642 11,847
Trade creditors 80,084 141,064
Tax 5,533 -
Social security and other taxes 48,053 31,546
Directors' current accounts 17,000 47,436
Accrued expenses 1,500 1,500
170,812 233,393

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - Less than 1 yr 20,000 20,000
Bank loans - 1-5 years 39,584 53,705
Hire purchase contracts 27,804 19,241
87,388 92,946