Registered number
08435541
Surrey Coach Hire Limited
Filleted Accounts
31 March 2024
Surrey Coach Hire Limited
Registered number: 08435541
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 44,833 46,405
Current assets
Debtors 4 30,979 25,369
Cash at bank and in hand 400,603 277,013
431,582 302,382
Creditors: amounts falling due within one year 5 (84,457) (73,175)
Net current assets 347,125 229,207
Total assets less current liabilities 391,958 275,612
Creditors: amounts falling due after more than one year 6 (15,756) (25,689)
Provisions for liabilities (1,053) (5,748)
Net assets 375,149 244,175
Capital and reserves
Called up share capital 1 1
Profit and loss account 375,148 244,174
Shareholders' funds 375,149 244,175
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs. A. Roots
Director
Approved by the board on 11 September 2024
Surrey Coach Hire Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over the useful lives of the assets
Motor vehicles 20% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 119,102 11,695 130,797
Additions 8,395 23,125 31,520
Disposals (26,829) (11,695) (38,524)
At 31 March 2024 100,668 23,125 123,793
Depreciation
At 1 April 2023 77,375 7,017 84,392
Charge for the year 25,032 3,296 28,328
On disposals (24,989) (8,771) (33,760)
At 31 March 2024 77,418 1,542 78,960
Net book value
At 31 March 2024 23,250 21,583 44,833
At 31 March 2023 41,727 4,678 46,405
4 Debtors 2024 2023
£ £
Trade debtors 25,129 19,419
Other debtors 5,850 5,950
30,979 25,369
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,500 7,500
Trade creditors 14,622 19,701
Taxation and social security costs 58,705 41,879
Other creditors 3,630 4,095
84,457 73,175
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,756 25,689
7 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 1 1 1
8 Controlling party
The company is controlled by the director.
9 Other information
Surrey Coach Hire Limited is a private company limited by shares and incorporated in England. Its registered office is:
PM House, Portsmouth Road,
Peasmarsh,
Guildford,
Surrey,
GU3 1LZ.
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