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REGISTERED NUMBER: 03211899 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Voel Coaches Limited

Voel Coaches Limited (Registered number: 03211899)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Voel Coaches Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: W M Kerfoot-Davies
Mrs M Kerfoot-Davies
Mrs M Kerfoot Higginson
M Higginson
G Ashton





SECRETARY: Mrs M Kerfoot-Davies





REGISTERED OFFICE: Coach Hire Office
Dyserth
Nr. Rhyl
Denbighshire
LL18 6BP





REGISTERED NUMBER: 03211899 (England and Wales)





ACCOUNTANTS: Graham & Fisher Limited
T/A Grahams
Chartered Accountants
30 Birkenhead Road
Hoylake
Wirral
CH47 3BW

Voel Coaches Limited (Registered number: 03211899)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,612,579 1,626,844

CURRENT ASSETS
Stocks 42,299 34,350
Debtors 5 343,797 250,494
Cash at bank and in hand 248,736 545,561
634,832 830,405
CREDITORS
Amounts falling due within one year 6 590,377 900,284
NET CURRENT ASSETS/(LIABILITIES) 44,455 (69,879 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,657,034

1,556,965

CREDITORS
Amounts falling due after more than one
year

7

(30,651

)

(45,051

)

PROVISIONS FOR LIABILITIES (318,080 ) (319,571 )
NET ASSETS 1,308,303 1,192,343

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,308,301 1,192,341
SHAREHOLDERS' FUNDS 1,308,303 1,192,343

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

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

Voel Coaches Limited (Registered number: 03211899)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





W M Kerfoot-Davies - Director


Voel Coaches Limited (Registered number: 03211899)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Voel 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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises the invoiced value of services supplied by the company net of value added tax on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 1% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in the profit and loss account during the period.

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.

Voel Coaches Limited (Registered number: 03211899)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

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 58 (2023 - 56 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 340,000 2,828,550 3,168,550
Additions - 181,999 181,999
Disposals - (71,797 ) (71,797 )
At 31 March 2024 340,000 2,938,752 3,278,752
DEPRECIATION
At 1 April 2023 34,000 1,507,706 1,541,706
Charge for year 3,400 165,163 168,563
Eliminated on disposal - (44,096 ) (44,096 )
At 31 March 2024 37,400 1,628,773 1,666,173
NET BOOK VALUE
At 31 March 2024 302,600 1,309,979 1,612,579
At 31 March 2023 306,000 1,320,844 1,626,844

Land and Buildings have been depreciated at a rate of 1% on a straight line basis. Valuers have confirmed that due to the nature of the property it is impossible to value land separate from the buildings. As such, the directors feel that this rate is prudent when they are taken together as a whole.


Included within Tangible Fixed Assets (Coaches & Motor Vehicles) are items held under hire purchase contracts. The Net Book Value of these items at 31 March 2024 totalled £96,988 (2023 - £138,929) and the depreciation charge for the year was £10,776 (2023 - £15,437).

Voel Coaches Limited (Registered number: 03211899)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 183,607 216,916
Other debtors 160,190 33,578
343,797 250,494

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 5,850 5,852
Hire purchase contracts 8,994 44,277
Trade creditors 77,746 75,970
Taxation and social security 98,415 82,479
Other creditors 399,372 691,706
590,377 900,284

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 30,651 36,501
Hire purchase contracts - 8,550
30,651 45,051

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 7,251 13,101

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdraft - 2
Hire purchase contracts 8,994 52,827
8,994 52,829

The bank Overdraft is secured on company's assets and there is also an intercompany guarantee in place securing the loan on the assets of Voel Holidays Limited.
No HP creditors are due after 5 years.

Voel Coaches Limited (Registered number: 03211899)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. RELATED PARTY DISCLOSURES

The directors (apart from G Ashton) are also directors of Voel Holidays Limited registered in England and Wales. Mr W M Kerfoot-Davies and Mrs M Kerfoot-Davies own one share each in the aforementioned company and as such 100% of the issued share capital. Transactions are at arms length and are disclosed in the financial statements. At 31st March 2024 £192,226 (2023 - £528,101) was owed to Voel Holidays Limited from Voel Coaches Limited.