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REGISTERED NUMBER: 08439005 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Ffoshelig Coaches Limited

Ffoshelig Coaches Limited (Registered number: 08439005)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Ffoshelig Coaches Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: C Davies
A K Davies





REGISTERED OFFICE: The Old Colliery, Cwmgwili, Llanelli
SA14 6PP





REGISTERED NUMBER: 08439005 (England and Wales)





ACCOUNTANTS: Ashmole & Co
Chartered Certified Accountants
Castle House
High Street
Ammanford
Carmarthenshire
SA18 2NB

Ffoshelig Coaches Limited (Registered number: 08439005)

Abridged Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,244 26,115
Tangible assets 5 138,527 178,928
152,771 205,043

CURRENT ASSETS
Debtors 69,183 34,941
Cash at bank 136,452 19,647
205,635 54,588
CREDITORS
Amounts falling due within one year 109,799 153,999
NET CURRENT ASSETS/(LIABILITIES) 95,836 (99,411 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

248,607

105,632

CREDITORS
Amounts falling due after more than
one year

(12,271

)

-

PROVISIONS FOR LIABILITIES (34,632 ) -
NET ASSETS 201,704 105,632

Ffoshelig Coaches Limited (Registered number: 08439005)

Abridged Balance Sheet - continued
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 201,702 105,630
201,704 105,632

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

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

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 19th September 2024 and were signed on its behalf by:





A K Davies - Director


Ffoshelig Coaches Limited (Registered number: 08439005)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Ffoshelig Coaches 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.

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 0, is being amortised evenly over its estimated useful life of nil 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 - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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.


Ffoshelig Coaches Limited (Registered number: 08439005)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. ACCOUNTING POLICIES - continued
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
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 9 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023
and 31st March 2024 59,356
AMORTISATION
At 1st April 2023 33,241
Amortisation for year 11,871
At 31st March 2024 45,112
NET BOOK VALUE

At 31st March 2024 14,244
At 31st March 2023 26,115

Ffoshelig Coaches Limited (Registered number: 08439005)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023 791,417
Additions 1,445
Disposals (68,778 )
At 31st March 2024 724,084
DEPRECIATION
At 1st April 2023 612,489
Charge for year 34,462
Eliminated on disposal (61,394 )
At 31st March 2024 585,557
NET BOOK VALUE
At 31st March 2024 138,527
At 31st March 2023 178,928