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REGISTERED NUMBER: SC119805 (Scotland)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Shuttle Buses Limited

Shuttle Buses Limited (Registered number: SC119805)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Shuttle Buses Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D S Granger
R A D Granger





SECRETARY: D S Granger





REGISTERED OFFICE: 191 Station Road
Shotts
ML7 4BA





REGISTERED NUMBER: SC119805 (Scotland)





ACCOUNTANTS: Williams & Company
191 Station Road
Shotts
North Lanarkshire
ML7 4BA

Shuttle Buses Limited (Registered number: SC119805)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of Bus and Coach Operators.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

D S Granger
R A D Granger

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





D S Granger - Secretary


18 August 2024

Shuttle Buses Limited (Registered number: SC119805)

Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 4,467,917 3,649,909

Cost of sales 3,313,730 2,659,850
GROSS PROFIT 1,154,187 990,059

Administrative expenses 730,912 556,323
423,275 433,736

Other operating income 72,902 130,674
OPERATING PROFIT 4 496,177 564,410

Interest receivable and similar
income

7,016

571
503,193 564,981

Interest payable and similar
expenses

33,331

27,630
PROFIT BEFORE TAXATION 469,862 537,351

Tax on profit 19,507 152,800
PROFIT FOR THE FINANCIAL YEAR 450,355 384,551

Shuttle Buses Limited (Registered number: SC119805)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,932,577 2,871,787

CURRENT ASSETS
Stocks 4,500 4,500
Debtors 6 556,956 580,887
Cash at bank 606,934 420,039
1,168,390 1,005,426
CREDITORS
Amounts falling due within one year 7 872,567 631,956
NET CURRENT ASSETS 295,823 373,470
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,228,400

3,245,257

CREDITORS
Amounts falling due after more than
one year

8

(466,282

)

(589,694

)

PROVISIONS FOR LIABILITIES (557,189 ) (539,015 )
NET ASSETS 2,204,929 2,116,548

CAPITAL AND RESERVES
Called up share capital 35,000 35,000
Retained earnings 2,169,929 2,081,548
2,204,929 2,116,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Shuttle Buses Limited (Registered number: SC119805)

Balance Sheet - continued
31 December 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2024 and were signed on its behalf by:





D S Granger - Director


Shuttle Buses Limited (Registered number: SC119805)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Shuttle Buses 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.

Tangible fixed assets
Depreciation is provided at various annual rates in order to write off each asset over its estimates useful life.

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 Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2022 - 50 ) .

Shuttle Buses Limited (Registered number: SC119805)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. OPERATING PROFIT

The operating profit is stated after charging:

31.12.23 31.12.22
£    £   
Depreciation - owned assets 459,456 345,214

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 5,244,753
Additions 585,111
Disposals (461,786 )
At 31 December 2023 5,368,078
DEPRECIATION
At 1 January 2023 2,372,966
Charge for year 459,456
Eliminated on disposal (396,921 )
At 31 December 2023 2,435,501
NET BOOK VALUE
At 31 December 2023 2,932,577
At 31 December 2022 2,871,787

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 76,500 126,464
Other debtors 480,456 454,423
556,956 580,887

Shuttle Buses Limited (Registered number: SC119805)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 48,000
Hire purchase contracts 335,644 410,544
Trade creditors 313,795 132,547
Taxation and social security 50,522 32,601
Other creditors 172,606 8,264
872,567 631,956

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 144,000
Hire purchase contracts 466,282 445,694
466,282 589,694