Registered number
05430234
Crest Coaches Limited
Filleted Accounts
30 April 2024
Crest Coaches Limited
Registered number: 05430234
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 10,800 12,000
Tangible assets 4 168,372 186,245
179,172 198,245
Current assets
Debtors 5 11,248 11,078
Cash at bank and in hand 51,872 36,638
63,120 47,716
Creditors: amounts falling due within one year 6 (64,887) (48,897)
Net current liabilities (1,767) (1,181)
Total assets less current liabilities 177,405 197,064
Creditors: amounts falling due after more than one year 7 (34,121) (42,412)
Net assets 143,284 154,652
Capital and reserves
Called up share capital 100 100
Profit and loss account 143,184 154,552
Shareholders' funds 143,284 154,652
The directors are 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 directors acknowledge their 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.
J D Obrien
Director
Approved by the board on 7 October 2024
Crest Coaches Limited
Notes to the Accounts
for the year ended 30 April 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 on 25% Reducing balance
Fixtures, fittings, tools and equipment on 25% Reducing balance
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.
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 8 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 30,000
At 30 April 2024 30,000
Amortisation
At 1 May 2023 18,000
Provided during the year 1,200
At 30 April 2024 19,200
Net book value
At 30 April 2024 10,800
At 30 April 2023 12,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 654,335
Additions 60,193
At 30 April 2024 714,528
Depreciation
At 1 May 2023 468,090
Charge for the year 78,066
At 30 April 2024 546,156
Net book value
At 30 April 2024 168,372
At 30 April 2023 186,245
5 Debtors 2024 2023
£ £
Trade debtors 5,756 -
Other debtors 5,492 11,078
11,248 11,078
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,981 1,646
Obligations under finance lease and hire purchase contracts 50,122 24,683
Taxation and social security costs - 5,470
Other creditors 11,784 17,098
64,887 48,897
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 34,121 42,412
8 Other information
Crest Coaches Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Dalys Road
Rochford
Essex
SS4 1RA
Crest Coaches Limited 05430234 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts October 2023 J D Obrien No description of principal activity 05430234 2022-05-01 2023-04-30 05430234 core:WithinOneYear 2023-04-30 05430234 core:AfterOneYear 2023-04-30 05430234 core:ShareCapital 2023-04-30 05430234 core:RetainedEarningsAccumulatedLosses 2023-04-30 05430234 2023-05-01 2024-04-30 05430234 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05430234 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 05430234 bus:Director40 2023-05-01 2024-04-30 05430234 1 2023-05-01 2024-04-30 05430234 2 2023-05-01 2024-04-30 05430234 core:Goodwill 2023-05-01 2024-04-30 05430234 core:PlantMachinery 2023-05-01 2024-04-30 05430234 countries:England 2023-05-01 2024-04-30 05430234 bus:FRS102 2023-05-01 2024-04-30 05430234 bus:FullAccounts 2023-05-01 2024-04-30 05430234 2024-04-30 05430234 core:WithinOneYear 2024-04-30 05430234 core:AfterOneYear 2024-04-30 05430234 core:ShareCapital 2024-04-30 05430234 core:RetainedEarningsAccumulatedLosses 2024-04-30 05430234 core:Goodwill 2024-04-30 05430234 core:PlantMachinery 2024-04-30 05430234 2023-04-30 05430234 core:Goodwill 2023-04-30 05430234 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure