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Registered number: 04370782
ABC COACHES (2002) LIMITED
Financial Statements
For The Year Ended 31 March 2024
Arthur G Edwards & Co Limited
Chartered Certified Accountants
Alexandra House
74 Moorland Road
Stoke-on-Trent
Staffs
ST6 1DY
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: 04370782
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 99,200 118,700
Tangible Assets 5 305,425 220,001
404,625 338,701
CURRENT ASSETS
Stocks 2,800 2,500
Debtors 6 322,560 370,452
Cash at bank and in hand 46,099 23,658
371,459 396,610
Creditors: Amounts Falling Due Within One Year 7 (251,890 ) (225,737 )
NET CURRENT ASSETS (LIABILITIES) 119,569 170,873
TOTAL ASSETS LESS CURRENT LIABILITIES 524,194 509,574
Creditors: Amounts Falling Due After More Than One Year 8 (165,076 ) (180,505 )
NET ASSETS 359,118 329,069
CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Profit and Loss Account 349,118 319,069
SHAREHOLDERS' FUNDS 359,118 329,069
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Banaras Hussain
Director
16/07/2024
The notes on pages 4 to 7 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2022 10,000 172,524 182,524
Profit for the year and total comprehensive income - 153,150 153,150
Dividends paid - (6,605) (6,605)
As at 31 March 2023 and 1 April 2023 10,000 319,069 329,069
Profit for the year and total comprehensive income - 37,309 37,309
Dividends paid - (7,260) (7,260)
As at 31 March 2024 10,000 349,118 359,118
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Page 4
Notes to the Financial Statements
1. General Information
ABC COACHES (2002) LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 04370782 . The registered office is Alexandra House, 74 Moorland Road, Stoke-on-Trent, Staffs, ST6 1DY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the amounts excluding value added tax derived from the provision of services to customers during the year.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years. 
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and are depreciated over their useful lives. Obligations under such contracts are included in the creditors net of the finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account in equal instalments over the period of the contract.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
The corporation tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before taxation as reported in the profit and loss account because of adjustments made for capital allowance claims and disallowable items of expenditure.. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred taxation is not provided for in the accounts. Due to the nature of the trade it's assets depreciate at rates in excess of the generally accepted rates and the directors have decided therefore not to make any provision.
2.7. Pensions
The company operates defined pension contribution schemes. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the schemes.
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2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was  32 (2023: 32)
32 32
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 195,000
As at 31 March 2024 195,000
Amortisation
As at 1 April 2023 76,300
Provided during the period 19,500
As at 31 March 2024 95,800
Net Book Value
As at 31 March 2024 99,200
As at 1 April 2023 118,700
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 285,178 53,624 338,802
Additions 217,868 4,022 221,890
Disposals (91,787 ) - (91,787 )
As at 31 March 2024 411,259 57,646 468,905
Depreciation
As at 1 April 2023 75,531 43,270 118,801
Provided during the period 66,267 1,436 67,703
Disposals (23,024 ) - (23,024 )
As at 31 March 2024 118,774 44,706 163,480
Net Book Value
As at 31 March 2024 292,485 12,940 305,425
As at 1 April 2023 209,647 10,354 220,001
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 253,849 293,351
Prepayments and accrued income 36,949 29,345
Other debtors 31,762 47,756
322,560 370,452
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,439 21,876
Trade creditors 89,201 42,453
Bank loans and overdrafts 34,415 31,055
Corporation tax 2,221 14,563
Other taxes and social security 22,671 11,488
VAT 35,615 47,696
Other creditors 16,111 16,203
Accruals and deferred income 9,630 9,462
Director's loan account 30,587 30,941
251,890 225,737
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 69,352 50,366
Bank loans 95,724 130,139
165,076 180,505
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 80,791 72,242
Bank loans and overdrafts 14,891 3,576
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Page 7
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,439 21,876
Later than one year and not later than five years 69,352 50,366
80,791 72,242
80,791 72,242
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
12. Controlling Party
The company's controlling parties are Mr Banaras Hussain by virtue of his ownership of 100% of the issued share capital in the company.
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