Company Registration No. 08374191 (England and Wales)
RED EAGLE BUSES LIMITED
Unaudited accounts
for the year ended 31 January 2024
RED EAGLE BUSES LIMITED
Unaudited accounts
Contents
RED EAGLE BUSES LIMITED
Company Information
for the year ended 31 January 2024
Company Number
08374191 (England and Wales)
Registered Office
7 VALE ROAD
AYLESBURY
BUCKINGHAMSHIRE
HP20 1JA
RED EAGLE BUSES LIMITED
Statement of financial position
as at 31 January 2024
Tangible assets
239,321
115,824
Debtors
2,107,339
1,044,189
Cash at bank and in hand
229,102
619,576
Creditors: amounts falling due within one year
(1,603,268)
(1,308,873)
Net current assets
733,173
354,892
Net assets
972,494
470,716
Called up share capital
100
100
Profit and loss account
972,394
470,616
Shareholders' funds
972,494
470,716
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 October 2024 and were signed on its behalf by
Sardar Ali KHAN
Director
Company Registration No. 08374191
RED EAGLE BUSES LIMITED
Notes to the Accounts
for the year ended 31 January 2024
RED EAGLE BUSES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08374191. The registered office is 7 VALE ROAD, AYLESBURY, BUCKINGHAMSHIRE, HP20 1JA.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Computer equipment
33% on cost
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of four years.
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Intangible fixed assets
Goodwill
RED EAGLE BUSES LIMITED
Notes to the Accounts
for the year ended 31 January 2024
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2023
1,223,850
1,900
13,151
1,238,901
Additions
198,500
-
-
198,500
Disposals
-
(1,900)
(13,151)
(15,051)
At 31 January 2024
1,422,350
-
-
1,422,350
At 1 February 2023
1,108,026
1,900
13,151
1,123,077
Charge for the year
75,003
-
-
75,003
On disposals
-
(1,900)
(13,151)
(15,051)
At 31 January 2024
1,183,029
-
-
1,183,029
At 31 January 2024
239,321
-
-
239,321
At 31 January 2023
115,824
-
-
115,824
Amounts falling due within one year
Other debtors
254,500
228,100
Amounts falling due after more than one year
Amounts due from group undertakings etc.
1,786,010
750,000
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Creditors: amounts falling due within one year
2024
2023
Taxes and social security
129,051
44,523
Other creditors
500,018
491,159
Loans from directors
521,199
554,359
Deferred income
250,000
218,832
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Transactions with related parties
Included in other creditors is the amount of £521,199 (2023: £554,359) due to the director, Mr S A Khan.
RED EAGLE BUSES LIMITED
Notes to the Accounts
for the year ended 31 January 2024
Mr S A Khan and Mrs S M Khan are the ultimate controlling party by virtue of their shareholding in the company.
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Average number of employees
During the year the average number of employees was 48 (2023: 48).