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REGISTERED NUMBER: 06936678 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Durham Bus and Coach Limited

Durham Bus and Coach Limited (Registered number: 06936678)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Durham Bus and Coach Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Spencer
Mrs L Spencer





REGISTERED OFFICE: Central Workshop
Dean and Chapter Industrial Estate
Ferryhill
Co. Durham
DL17 8LH





REGISTERED NUMBER: 06936678 (England and Wales)





ACCOUNTANTS: KING HOPE
CHARTERED ACCOUNTANTS
18 Scarborough Street
Hartlepool
TS24 7DA

Durham Bus and Coach Limited (Registered number: 06936678)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,000 6,000
Tangible assets 5 64,391 32,812
69,391 38,812

CURRENT ASSETS
Stocks 500 500
Debtors 6 34,160 38,038
Cash at bank and in hand 8 20,534
34,668 59,072
CREDITORS
Amounts falling due within one year 7 58,715 56,140
NET CURRENT (LIABILITIES)/ASSETS (24,047 ) 2,932
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,344

41,744

CREDITORS
Amounts falling due after more than one
year

8

(13,795

)

-

PROVISIONS FOR LIABILITIES (12,234 ) (6,234 )
NET ASSETS 19,315 35,510

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 19,314 35,509
SHAREHOLDERS' FUNDS 19,315 35,510

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Durham Bus and Coach Limited (Registered number: 06936678)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





P Spencer - Director


Durham Bus and Coach Limited (Registered number: 06936678)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Durham Bus and Coach 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 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 2009, is being amortised evenly over its estimated useful life of twenty 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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Durham Bus and Coach Limited (Registered number: 06936678)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023 14,000
Charge for year 1,000
At 31 March 2024 15,000
NET BOOK VALUE
At 31 March 2024 5,000
At 31 March 2023 6,000

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 61,880 45,730 107,610
Additions 6,614 61,017 67,631
Disposals (1,331 ) (33,620 ) (34,951 )
At 31 March 2024 67,163 73,127 140,290
DEPRECIATION
At 1 April 2023 44,002 30,796 74,798
Charge for year 5,983 15,482 21,465
Eliminated on disposal (769 ) (19,595 ) (20,364 )
At 31 March 2024 49,216 26,683 75,899
NET BOOK VALUE
At 31 March 2024 17,947 46,444 64,391
At 31 March 2023 17,878 14,934 32,812

Durham Bus and Coach Limited (Registered number: 06936678)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 27,048 36,305
Other debtors 7,112 1,733
34,160 38,038

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 11,904 -
Hire purchase contracts 15,353 -
Trade creditors 17,069 35,168
Taxation and social security 10,503 18,933
Other creditors 3,886 2,039
58,715 56,140

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 13,795 -

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £18,000 (2023 - £40,200) were paid to the directors .